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CRISIL ratings for Indian debt instruments-Oct 6

    Oct 6  - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of October 5, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT  MOVEMENT
                                                                       (RS.MLN)
------                                ----------         ------        -----   ---------
SHORT TERM RATINGS:
-------------------
Floor Gardens                          LOC               CRISIL A4     30     Reaffirmed
Fresh Catch Exports                    Export Bill       CRISIL A4+    10     Reaffirmed
                                       Purchase
Future Lifestyle Fashions Ltd          LOC^              CRISIL A3     4750   Reaffirmed
(Continues on 'Rating Watch with Negative Implications')/^Interchangeable with letter of
undertaking and bank guarantee
Future Projects                        BG                CRISIL A4+    30     Assigned
Laxmi Industrial Corporation           Packing Credit    CRISIL A3     140    Reaffirmed
Malabar Tech                           BG                CRISIL A4+    250    Migrated from
                                                                              CRISIL A4
(Issuer Not Cooperating)
Malabar Tech                           Proposed BG       CRISIL A4+    45     Migrated from
                                                                              CRISIL A4
(Issuer Not Cooperating)
Mumbai International Airport Ltd       BG                CRISIL A4     3300   Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Mumbai International Airport Ltd       LOC               CRISIL A4     2500   Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Porus Laboratories Pvt Ltd             BG                CRISIL A2+    800    Upgraded from
                                                                              CRISIL A2
Porus Laboratories Pvt Ltd             LOC & BG          CRISIL A2+    250    Upgraded from
                                                                              CRISIL A2
Porus Laboratories Pvt Ltd             Packing Credit in CRISIL A2+    490    Upgraded from
                                       Foreign Currency                       CRISIL A2
R. C. Enterprise                       Packing Credit    CRISIL A3     250    Reaffirmed
Safechem Industries                    Proposed ST Bk    -             15     Withdrawn
                                       Loan Fac
Shantinath Detergents Pvt Ltd          Composite WC LimitCRISIL A2     225    Upgraded from
                                                                              CRISIL A3+
Sree Jagathguru Textiles Mills Pvt Ltd BG                CRISIL A3     25     Reaffirmed
Sree Jagathguru Textiles Mills Pvt Ltd LOC               CRISIL A3     30     Reaffirmed
TM Automotive Seating Systems Pvt Ltd  ST Loan           CRISIL A2     150    Assigned
Tube Investments Of India Ltd          LOC**             CRISIL A1+    3000   Reaffirmed
**Interchangeable with bank guarantee
Tube Investments Of India Ltd          CP                CRISIL A1+    5250   Reaffirmed


 

LONG TERM RATINGS:
-------------------
Apollo Cvhf Ltd                        CC/ Overdraft Fac CRISIL        50     Reaffirmed
                                                         BBB/Stable
Apollo Cvhf Ltd                        LT Bk Fac         CRISIL        300    Reaffirmed
                                                         BBB/Stable
Apollo-Amrish Oncology Services Pvt LtdCC                CRISIL        40     Reaffirmed
                                                         BBB/Stable
Apollo-Amrish Oncology Services Pvt LtdTL                CRISIL        100    Reaffirmed
                                                         BBB/Stable
Assam Bio Refinery Pvt Ltd             Rupee TL          CRISIL        12250  Assigned
                                                         A+/Stable
Classicwin Engineering Pvt Ltd         TL                CRISIL        150    Assigned
                                                         B+/Stable
Ferrum Extreme Engineering Pvt Ltd     Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Floor Gardens                          Export Packing    CRISIL        60     Reaffirmed
                                       Credit            B+/Stable
Fresh Catch Exports                    Packing Credit    CRISIL        70     Reaffirmed
                                                         BB-/Stable
Fresh Catch Exports                    TL                CRISIL        70     Reaffirmed
                                                         BB-/Stable
Future Lifestyle Fashions Ltd          CC*               CRISIL BBB-   5500   Reaffirmed
(Continues on 'Rating Watch with Negative Implications')/*Interchangeable with working capital
demand loan and commercial paper
Future Lifestyle Fashions Ltd          LT Loan           CRISIL BBB-   4750   Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Future Lifestyle Fashions Ltd          NCD               CRISIL BBB-   5000   -
(Continues on 'Rating Watch with Negative Implications')
Future Projects                        Proposed CC Limit CRISIL        20.5   Assigned
                                                         BB-/Stable
Future Projects                        Proposed BG       CRISIL        40     Assigned
                                                         BB-/Stable
Future Projects                        CC                CRISIL        9.5    Assigned
                                                         BB-/Stable
GSM Plus India                         Export Packing    CRISIL        140    Reaffirmed
                                       Credit & Export   BB-/Stable
                                       Bills Negotiation/Foreign Bill discounting
Hema Abodes Pvt Ltd                    LT Loan           CRISIL        190    Reaffirmed
                                                         B+/Stable
Konkan Aggregates Pvt Ltd              CC                CRISIL        75     Reaffirmed
                                                         B+/Stable
Konkan Aggregates Pvt Ltd              LT Loan           CRISIL        110    Reaffirmed
                                                         B+/Stable
Konkan Aggregates Pvt Ltd              Proposed LT Bk    CRISIL        55     Reaffirmed
                                       Loan Fac          B+/Stable
Laxmi Industrial Corporation           Credit Limit UnderCRISIL        28     Reaffirmed
                                       Gold Card         BBB-/Stable
Laxmi Industrial Corporation           Proposed FB Bk    CRISIL        8      Reaffirmed
                                       Limits            BBB-/Stable
Laxmi Industrial Corporation           TL                CRISIL        7      Reaffirmed
                                                         BBB-/Stable
Mahalaxmi Industries - Nagpur          CC                CRISIL        42.5   Reaffirmed
                                                         BB-/Stable
Mahalaxmi Industries - Nagpur          TL                CRISIL        27.5   Reaffirmed
                                                         BB-/Stable
Malabar Tech                           CC                CRISIL        35     Migrated from
                                                         BB-/Stable           CRISIL
                                                                              B+/Stable
(Issuer Not Cooperating)
Mumbai International Airport Ltd       BG#               CRISIL B      1750   Downgraded
                                                                              from CRISIL BB
(Continues on 'Rating Watch with Negative Implications')/#Financial guarantee. Interchangeable
with rupee term loan
Mumbai International Airport Ltd       CC                CRISIL B      3300   Downgraded
                                                                              from CRISIL BB
(Continues on 'Rating Watch with Negative Implications')
Mumbai International Airport Ltd       LOC*              CRISIL B      500    Downgraded
                                                                              from CRISIL BB
(Continues on 'Rating Watch with Negative Implications')/*Interchangeable with sight letter of
credit, usance letter of credit, buyer's credit, inland letter of credit to the extent of Rs 15
crore, performance bank guarantee, financial bank guarantee to the extent of Rs 40 crore and
revolving short-term loan to the extent of Rs 20 crore.
Mumbai International Airport Ltd       Rupee TL          CRISIL B      82967.4Downgraded
                                                                              from CRISIL BB
(Continues on 'Rating Watch with Negative Implications')
Mumbai International Airport Ltd       NCD               CRISIL B      20000  Downgraded
                                                                              from CRISIL BB
(Continues on 'Rating Watch with Negative Implications')
Mumbai International Airport Ltd       Rupee TL          CRISIL C      3500   Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Nambiar Builders Pvt Ltd               TL                CRISIL        2500   Downgraded
                                                         BB+/Stable           from CRISIL
                                                                              BBB/Negative
Navi Mumbai International Airport Pvt  Proposed LT Bk    CRISIL B      103000 Downgraded
Ltd                                    Loan Fac                               from CRISIL BB
(Continues on 'Rating Watch with Negative Implications')
Orange Megastructure LLP               Lease Rental      CRISIL        1400   Downgraded
                                       Discounting Loan  BB/Stable            from CRISIL
                                                                              BB+/Stable
Porus Laboratories Pvt Ltd             Foreign Currency   CRISIL        550   Upgraded from
                                       TL                 A-/Positive         CRISIL
                                                                              BBB+/Stable
Prakash Ferrous Industries Pvt Ltd     Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
PSN Medicare Pvt Ltd                   Proposed LT Bk    CRISIL        100    Assigned
                                       Loan Fac          BB+/Stable
R. C. Enterprise                       Credit Limit UnderCRISIL        50     Reaffirmed
                                       Gold Card         BBB-/Stable
Safechem Industries                    CC                -             270    Withdrawn
Shantinath Detergents Pvt Ltd          Fund & NFBL       CRISIL        585    Upgraded from
                                                         BBB+/Stable          CRISIL
                                                                              BBB/Stable
Sree Jagathguru Textiles Mills Pvt Ltd CC                CRISIL        280    Reaffirmed
                                                         BBB-/Stable
Sree Jagathguru Textiles Mills Pvt Ltd Proposed LT Bk    CRISIL        641.7  Reaffirmed
                                       Loan Fac          BBB-/Stable
Sree Jagathguru Textiles Mills Pvt Ltd TL                CRISIL        323.3  Reaffirmed
                                                         BBB-/Stable
Tube Investments Of India Ltd          CC*               CRISIL AA+    4000   Reaffirmed
(Continues on 'Rating Watch With Developing Implications')/ *Interchangeable with short-term
buyer's credit, packing credit, and working capital demand loan 
Tube Investments Of India Ltd          NCD               CRISIL AA+    1000   Assigned
(Placed on 'Rating Watch with Developing Implications')
Tube Investments Of India Ltd          NCD               CRISIL AA+    1000   -
(Continues on 'Rating Watch With Developing Implications')
Tube Investments Of India Ltd          NCD               CRISIL        1000   Withdrawn
                                                         AA+/Watch
                                                         Developing
Vahini Irrigation Pvt Ltd              Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)

--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)
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