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CRISIL ratings for Indian debt instruments-Sep 12
September 12, 2017 / 6:57 AM / in 3 months

CRISIL ratings for Indian debt instruments-Sep 12

    Sep 12 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of September 11, 2017.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A One Steels India Pvt Ltd              LOC                CRISIL A4+     50      Reaffirmed
ASL Enterprises Ltd                     BG                 CRISIL A4+     70      Reaffirmed
Issuer Not Cooperating
Baleshwar Synthetics Textiles Pvt Ltd   Packing Credit     CRISIL A4+     35      Upgraded from
                                                                                  CRISIL A4
Beardsell Ltd                           CP                 CRISIL A1+     100     Assigned
Bhagwati Timber Store                   Inland/Import LOC  CRISIL A4      70      Reaffirmed
Bhasha Associate                        LOC                CRISIL A4+     1       Assigned
Bhasha Associate                        BG                 CRISIL A4+     44      Assigned
Brijbasi Art Press Ltd                  Inland/Import LOC  CRISIL A4      60      Downgraded
                                                                                  from CRISIL A3
Issuer Not Cooperating
Brijbasi Art Press Ltd                  Packing Credit     CRISIL A4      160     Downgraded
                                                                                  from CRISIL A3
Issuer Not Cooperating
Eastman Impex                           Foreign Exchange   CRISIL A4+     20      Reaffirmed
                                        Forward
Eastman Impex                           LOC                CRISIL A4+     240     Reaffirmed
Eastman Impex                           Standby Line of    CRISIL A4+     20      Reaffirmed
                                        Credit
Edelweiss Commodities Services Ltd      ST Bk Fac          CRISIL A1+     600     Reaffirmed
Edelweiss Commodities Services Ltd      Standby LOC        CRISIL A1+     1520    Reaffirmed
Ideal Chemicals India Pvt Ltd           Letter Of GuaranteeCRISIL A4      20      Reaffirmed
Indiabulls Housing Finance Ltd          ST Bk Fac          CRISIL A1+     10490   Reaffirmed
Indian Overseas Bank                    CDs Programme      CRISIL A1+     -       Reaffirmed
Kalimata Ispat Industries Pvt Ltd       BG                 CRISIL A4+     25      Reaffirmed
Kalimata Ispat Industries Pvt Ltd       LOC                CRISIL A4+     20      Reaffirmed
Kenox Agro Industries Pvt Ltd           BG                 CRISIL A4      2.5     Reaffirmed
Kotak Mahindra Prime Ltd                Proposed ST Bk     CRISIL A1+     30000   Reaffirmed
                                        Loan Fac
Kunnathan Chip Boards Pvt Ltd           LOC                CRISIL A4+     30      Reassigned
Kunnathan Chip Boards Pvt Ltd           Proposed LOC       CRISIL A4+     35      Reassigned
Lado Ceramic Pvt. Ltd.                  BG                 CRISIL A4      10      Reaffirmed
Limenaph Chemicals Pvt Ltd              LOC                CRISIL A4      12.5    Downgraded
                                                                                  from CRISIL A4
Maheshwari Mining Pvt Ltd               BG                 CRISIL A4      320     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Maheshwari Mining Pvt Ltd               LOC                CRISIL A4      30      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Mulamoottil Construction                BG                 CRISIL A4+     62.5    Reaffirmed
Mulamoottil Construction                LOC                CRISIL A4+     2       Reaffirmed
Nipha Enterprises LLP                   BG                 CRISIL A4+     20      Assigned
Nipha Enterprises LLP                   LOC                CRISIL A4+     12.6    Assigned
Nipha Enterprises LLP                   Export Packing     CRISIL A4+     90      Assigned
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Nipha Exports Pvt Ltd                   Foreign Bill       CRISIL A3+     200     Upgraded from
                                        Discounting                               CRISIL A3
Nipha Exports Pvt Ltd                   Foreign LOC        CRISIL A3+     75      Upgraded from
                                                                                  CRISIL A3
Nipha Exports Pvt Ltd                   Letter Of GuaranteeCRISIL A3+     75      Upgraded from
                                                                                  CRISIL A3
Nipha Exports Pvt Ltd                   Packing Credit     CRISIL A3+     150     Upgraded from
                                                                                  CRISIL A3
Nipha Exports Pvt Ltd                   Standby Export     CRISIL A3+     22.9    Upgraded from
                                        Packing Credit                            CRISIL A3
Pharmacon                               BG                 CRISIL A4      25      Assigned
PVR Spinning and Weaving Ltd            BG                 CRISIL A4+     20      Reaffirmed
Sidhivinayak Filaments Pvt Ltd          BG                 CRISIL A3      4       Reassigned
Southern Lubrication Pvt Ltd            BG                 CRISIL A3+     56      Reaffirmed
Southern Lubrication Pvt Ltd            LOC                CRISIL A3+     4       Reaffirmed
Uma Udyog                               Foreign Bill       CRISIL A3      200     Reaffirmed
                                        Purchase


MEDIUM TERM RATINGS:
-------------------
Beardsell Ltd                           FD Programme       FB+            50      Reaffirmed
Indian Overseas Bank                    FD Programme       FAA/Negative   200000  Reaffirmed



LONG TERM RATINGS:
-------------------
A One Steels India Pvt Ltd              CC                 CRISIL BB+     200     Upgraded from
                                                                                  CRISIL BB
A One Steels India Pvt Ltd              Proposed FB Bk     CRISIL BB+     4.3     Upgraded from
                                        Limits                                    CRISIL BB
Adani Power Ltd                         BG                 -              11654   Withdrawal
Adani Power Ltd                         LOC                -              31120   Withdrawal
Adani Power Ltd                         LT Loan            -              2342.2  Withdrawal
Adani Power Ltd                         WC Fac             -              4000    Withdrawal
Adani Power Ltd                         LT Loan            CRISIL BB-     16475.7 Reaffirmed
Aquent Impex India Pvt Ltd              LOC#               CRISIL BBB-    250     Upgraded from
                                                                                  CRISIL BB+
#Includes sub-limit for Cash Credit of Rs.9 crore and sub limit of buyers credit of Rs.10 crore
Aquent Impex India Pvt Ltd              WC Fac*            CRISIL BBB-    50      Upgraded from
                                                                                  CRISIL BB+
*Includes sub-limit for Letter of Credit of Rs.5 crore
Arham Non Woven Pvt Ltd                 CC                 CRISIL D       30      Reaffirmed

Arham Non Woven Pvt Ltd                 TL                 CRISIL D       115.5   Reaffirmed
ASL Enterprises Ltd                     CC                 CRISIL BB+     285     Reaffirmed
ASL Enterprises Ltd                     Proposed FB Bk     CRISIL BB+     45      Reaffirmed
                                        Limits
Baleshwar Synthetics Textiles Pvt Ltd   CC                 CRISIL BB-     30      Upgraded from
                                                                                  CRISIL B+
Baleshwar Synthetics Textiles Pvt Ltd   Proposed LT Bk     CRISIL BB-     35      Upgraded from
                                        Loan Fac                                  CRISIL B+
Bhagwati Timber Store                   CC                 CRISIL B       10      Reaffirmed
Bhasha Associate                        CC                 CRISIL BB-     32      Assigned
Brijbasi Art Press Ltd                  CC                 CRISIL B       90      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Issuer Not Cooperating
Brijbasi Art Press Ltd                  LT Loan            CRISIL B       15      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Issuer Not Cooperating
Brijbasi Art Press Ltd                  Proposed LT Bk     CRISIL B       15      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
Issuer Not Cooperating
Bush Tea Company Pvt Ltd                CC                 CRISIL BB-     275     Upgraded from
                                                                                  CRISIL B
Issuer Not Cooperating
Eastman Impex                           Export Packing     CRISIL BB      150     Reaffirmed
                                        Credit
Eastman Impex                           Proposed LT Bk     CRISIL BB      330     Reaffirmed
                                        Loan Fac
Edelweiss Commodities Services Ltd      LT Bk Fac          CRISIL AA      3250    Reaffirmed
Edelweiss Commodities Services Ltd      Overdraft          CRISIL AA      7000    Reaffirmed
Edelweiss Commodities Services Ltd      Proposed LT Bk     CRISIL AA      5000    Reaffirmed
                                        Loan Fac**
**Interchangeable with short term bank facilities
Edelweiss Finance and Investments LimiteProposed LT Bk     CRISIL AA      5000    Reaffirmed
                                        Loan Fac^
^Interchangeable between short term and long term
Grace International                     CC                 CRISIL B+      105     Reaffirmed
IBC Ltd                                 BG                 CRISIL D       50      Reaffirmed
IBC Ltd                                 CC                 CRISIL D       50      Reaffirmed
IBC Ltd                                 Drop Line          CRISIL D       128     Reaffirmed
                                        Overdraft Fac
IBC Ltd                                 Export Packing     CRISIL D       300     Reaffirmed
                                        Credit
IBC Ltd                                 LOC                CRISIL D       40      Reaffirmed
IBC Ltd                                 Standby Line of    CRISIL D       62      Reaffirmed
                                        Credit
Ideal Chemicals India Pvt Ltd           CC                 CRISIL B+      130     Upgraded from
                                                                                  CRISIL B
Ideal Chemicals India Pvt Ltd           Proposed LT Bk     CRISIL B+      80      Upgraded from
                                        Loan Fac                                  CRISIL B
Indiabulls Housing Finance Ltd          CC                 CRISIL AA+     52000   Reaffirmed
Indiabulls Housing Finance Ltd          LT Bk Fac          CRISIL AA+     166702.2Reaffirmed
Indiabulls Housing Finance Ltd          Proposed LT Bk     CRISIL AA+     16307.6 Reaffirmed
                                        Loan Fac
Indian Overseas Bank                    Tier-I Perpetual   CRISIL A-      3000    Reaffirmed
                                        Bonds 
Indian Overseas Bank                    Upper Tier-II      CRISIL A-      21323   Reaffirmed
                                        Bonds 
Indian Overseas Bank                    Tier II Bonds      CRISIL A+      8000    Reaffirmed
Indian Overseas Bank                    Lower Tier-II BondsCRISIL A+      15900   Reaffirmed
Indus Gas Ltd                           Foreign Currency TLCRISIL BB+     6520    Downgraded
                                                                                  from CRISIL
                                                                                  BBB+
Issuer Not Cooperating
Indus Gas Ltd                           Proposed LT Bk     CRISIL BB+     11790.2 Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB+
Issuer Not Cooperating
Kalimata Ispat Industries Pvt Ltd       CC                 CRISIL BB-     85      Reaffirmed
Kalimata Ispat Industries Pvt Ltd       Proposed FB Bk     CRISIL BB-     7.5     Reaffirmed
                                        Limits
Kalimata Ispat Industries Pvt Ltd       TL                 CRISIL BB-     7.5     Reaffirmed
Kenox Agro Industries Pvt Ltd           CC                 CRISIL B+      50      Upgraded from
                                                                                  CRISIL B
Kenox Agro Industries Pvt Ltd           Proposed LT Bk     CRISIL B+      7.5     Upgraded from
                                        Loan Fac                                  CRISIL B
Kenox Agro Industries Pvt Ltd           TL                 CRISIL B+      40      Upgraded from
                                                                                  CRISIL B
Kotak Mahindra Prime Ltd                CC & WC demand loanCRISIL AAA     34250   Reaffirmed
Kotak Mahindra Prime Ltd                LT Loan            CRISIL AAA     600     Reaffirmed
Kotak Mahindra Prime Ltd                Proposed LT Bk     CRISIL AAA     35150   Reaffirmed
                                        Loan Fac
Krishna Global Industries               CC                 CRISIL BB-     52.5    Upgraded from
                                                                                  CRISIL B+
Krishna Global Industries               Proposed LT Bk     CRISIL BB-     70.3    Upgraded from
                                        Loan Fac                                  CRISIL B+
Krishna Global Industries               TL                 CRISIL BB-     7.2     Upgraded from
                                                                                  CRISIL B+
Kunnathan Chip Boards Pvt Ltd           CC                 CRISIL BB-     45      Upgraded from
                                                                                  CRISIL B+
Kunnathan Chip Boards Pvt Ltd           TL                 CRISIL BB-     55      Upgraded from
                                                                                  CRISIL B+
Lado Ceramic Pvt. Ltd.                  CC                 CRISIL B       20      Reaffirmed
Lado Ceramic Pvt. Ltd.                  Proposed LT Bk     CRISIL B       12.5    Reaffirmed
                                        Loan Fac
Lado Ceramic Pvt. Ltd.                  TL                 CRISIL B       25      Reaffirmed
Laxmi Cotton Industries (Paratwada)     CC                 CRISIL B       60      Reaffirmed
Limenaph Chemicals Pvt Ltd              CC                 CRISIL B+      110     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Limenaph Chemicals Pvt Ltd              Proposed LT Bk     CRISIL B+      17.5    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Maheshwari Mining Pvt Ltd               CC                 CRISIL B+      190     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Issuer Not Cooperating
Master Marine Services Pvt. Ltd.        LT Loan            CRISIL BB+     145     Reaffirmed
Max Hypermarket India Pvt Ltd           TL                 CRISIL BB+     1233.1  Upgraded from
                                                                                  CRISIL BB
Max Hypermarket India Pvt Ltd           WC Demand Loan*    CRISIL BB+     16.9    Upgraded from
                                                                                  CRISIL BB
* Fully interchangeable with Cash Credit; interchangeable with Letter of Credit to Rs.1 crore
and Bank Guarantee to Rs.0.5 crore
Mayflower Hotels and Resorts            TL                 CRISIL B       100     Reaffirmed
Mulamoottil Construction                CC                 CRISIL BB-     37.5    Reaffirmed
Nipha Enterprises LLP                   TL                 CRISIL BB      130     Reaffirmed
Nipha Enterprises LLP                   LT Loan            CRISIL BB      30.4    Reaffirmed
Nipha Exports Pvt Ltd                   CC                 CRISIL BBB     50      Upgraded from
                                                                                  CRISIL BBB-
Nipha Exports Pvt Ltd                   Proposed LT Bk     CRISIL BBB     30      Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Nipha Exports Pvt Ltd                   TL                 CRISIL BBB     1.5     Upgraded from
                                                                                  CRISIL BBB-
Pharmacon                               CC                 CRISIL B       45      Assigned
Puneet Developers                       Proposed LT Bk     CRISIL BB-     1350    Assigned
                                        Loan Fac
Puneet Developers                       TL                 CRISIL BB-     150     Assigned
PVR Spinning and Weaving Ltd            CC                 CRISIL BB+     230     Upgraded from
                                                                                  CRISIL BB-
PVR Spinning and Weaving Ltd            LT Loan            CRISIL BB+     90      Upgraded from
                                                                                  CRISIL BB-
PVR Spinning and Weaving Ltd            Proposed LT Bk     CRISIL BB+     210     Upgraded from
                                        Loan Fac                                  CRISIL BB-
PVR Spinning and Weaving Ltd            Secured Overdraft  CRISIL BB+     100     Upgraded from
                                        Fac                                       CRISIL BB-
PVR Spinning and Weaving Ltd            Standby Line of    CRISIL BB+     30      Upgraded from
                                        Credit                                    CRISIL BB-
Sai Achyuth Energy Pvt Ltd              TL                 CRISIL BB+     220     Assigned
Sidhivinayak Filaments Pvt Ltd          CC                 CRISIL BBB-    210     Upgraded from
                                                                                  CRISIL BB+
Sidhivinayak Filaments Pvt Ltd          TL                 CRISIL BBB-    218.5   Upgraded from
                                                                                  CRISIL BB+
Sidhivinayak Filaments Pvt Ltd          Proposed LT Bk     CRISIL BBB-    7.5     Upgraded from
                                        Loan Fac                                  CRISIL BB+
Southern Lubrication Pvt Ltd            CC                 CRISIL BBB     30      Reaffirmed
Southern Lubrication Pvt Ltd            Proposed LT Bk     CRISIL BBB     20      Reaffirmed
                                        Loan Fac
Sri Lakshmi Ganesh Modern Raw & Boiled  CC                 CRISIL B+      200     Reaffirmed
Rice Mill
Sri Lakshmi Ganesh Modern Raw & Boiled  LT Loan            CRISIL B+      10      Reaffirmed
Rice Mill
Sri Lakshmi Ganesh Modern Raw & Boiled  Proposed LT Bk     CRISIL B+      60      Reaffirmed
Rice Mill                               Loan Fac
Vanshpati Smriti Shiksha Samiti         Overdraft          CRISIL BB+     55      Reaffirmed
Vanshpati Smriti Shiksha Samiti         Proposed LT Bk     CRISIL BB+     22      Reaffirmed
                                        Loan Fac
Vanshpati Smriti Shiksha Samiti         TL                 CRISIL BB+     123     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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