September 13, 2019 / 10:18 AM / a month ago

CRISIL ratings for Indian debt instruments-Sep 13

    Sep 13 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of September 12, 2019.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Advanced Enzyme Technologies Ltd        LOC & BG           CRISIL A1      25      Reaffirmed
Al Kabeer Exports Pvt Ltd               Proposed WC Fac    CRISIL A3      240     Withdrawn
Amara Raja Power Systems Ltd            BG                 CRISIL A2      1505    Reaffirmed
Amara Raja Power Systems Ltd            LOC                CRISIL A2      110     Reaffirmed
Amara Raja Power Systems Ltd            LOC & BG           CRISIL A2      1480    Reaffirmed
Amara Raja Power Systems Ltd            Vendor Bill        CRISIL A2      200     Reaffirmed
                                        Discounting Limits
Balaji Extrusions and Cables Pvt Ltd    Bill Discounting   CRISIL A3+     150     Withdrawn
Balaji Extrusions and Cables Pvt Ltd    CC                 CRISIL A3+     70      Withdrawn
Balaji Extrusions and Cables Pvt Ltd    LOC & BG           CRISIL A3+     130     Withdrawn
Balaji Extrusions and Cables Pvt Ltd    LT Loan            CRISIL A3+     183.2   Withdrawn
Bansal Ship Breakers                    LOC                CRISIL A4      150     Reaffirmed
BF Infrastructure Ltd                   BG                 CRISIL A4+     250     Reaffirmed
Bhagwati Enterprises - Morena           BG                 CRISIL A4+     49.2    Reaffirmed
Bhagwati Enterprises - Morena           Proposed BG        CRISIL A4+     22.3    Reaffirmed
Britannia Industries Ltd                BG                 CRISIL A1+     320     Reaffirmed
Britannia Industries Ltd                Buyers Finance     CRISIL A1+     21      Reaffirmed
Britannia Industries Ltd                LOC@               CRISIL A1+     990     Reaffirmed
@Interchangeable with bank guarantees
Britannia Industries Ltd                Overdraft          CRISIL A1+     550     Reaffirmed
Britannia Industries Ltd                Proposed ST Bk     CRISIL A1+     1619    Reaffirmed
                                        Loan Fac
Britannia Industries Ltd                CP                 CRISIL A1+     5000    Reaffirmed
Eastern Metec Pvt Ltd                   BG                 CRISIL A4      300     Reaffirmed
Green Woodcrafts Pvt Ltd                LOC & BG           CRISIL A4+     122.7   Upgraded from
                                                                                  CRISIL A4'
Hajee A.P.Bava and Company              BG                 CRISIL A4+     400     Reaffirmed
Constructions Pvt Ltd
Hajee A.P.Bava and Company              Proposed ST Bk     CRISIL A4+     200     Assigned
Constructions Pvt Ltd                   Loan Fac
Indo Global Commercials Pvt Ltd         BG                 CRISIL A4+     5       Reaffirmed
Induss Food Products and Equipments Ltd BG                 CRISIL A3+     50      Reaffirmed
Induss Food Products and Equipments Ltd Packing Credit     CRISIL A3+     17.5    Reaffirmed
Induss Food Products and Equipments Ltd Post Shipment      CRISIL A3+     17.5    Reaffirmed
                                        Credit
Kochar Rice Exim Pvt Ltd                Packing Credit     CRISIL A4      19      Reaffirmed
L. N. Malviya Consultant                BG                 CRISIL A4      49      Reaffirmed
Livingstones                            Packing Credit     CRISIL A4+     61.7    Reaffirmed
Livingstones                            Post Shipment      CRISIL A4+     72      Reaffirmed
                                        Credit
Livingstones Jewellery Pvt Ltd          Packing Credit     CRISIL A4+     20      Reaffirmed
Livingstones Jewellery Pvt Ltd          Post Shipment      CRISIL A4+     13.5    Reaffirmed
                                        Credit
Madan Trading Co Pvt Ltd                Packing Credit     CRISIL A4+     100     Reaffirmed
PICL (India) Pvt Ltd                    LOC                CRISIL A2+     90      -
PICL (India) Pvt Ltd                    Packing Credit in  CRISIL A2+     20      -
                                        Foreign Currency
Pristine Commercials Pvt Ltd            LOC                CRISIL A3      202.5   Reaffirmed
Red Rose Kindergarten Society           Overdraft          CRISIL A4+     4       Reaffirmed
SBI Cards and Payment Services Ltd      CP                 CRISIL A1+     165000  Reaffirmed

LONG TERM RATINGS:
-------------------
MEDIUM TERM RATINGS:
-------------------
Advanced Enzyme Technologies Ltd        Overdraft*         CRISIL A/Stable200     Reaffirmed
*Interchangeable with Rs 10 cr of working capital demand loan
Advanced Enzyme Technologies Ltd        Overdraft#         CRISIL A/Stable125     Reaffirmed
#Fully interchangeable with working capital demand loan, letter of credit and bank guarantee
Advanced Enzyme Technologies Ltd        Overdraft          CRISIL A/Stable150     Reaffirmed
Advanced Enzyme Technologies Ltd        TL                 CRISIL A/Stable75      Reaffirmed
Advanced Enzyme Technologies Ltd        Proposed LT Bk     CRISIL A/Stable325     Reaffirmed
                                        Loan Fac
Advanced Enzyme Technologies Ltd        Proposed WC Fac    CRISIL A/Stable100     Reaffirmed
Air India Express Ltd                   NCD                CRISIL         950     (Reassigned
                                                           AAA(CE)/Stable         from 'CRISIL
                                                                                 
AAA(SO)/Stable')
Al Kabeer Exports Pvt Ltd               Packing Credit     CRISIL BBB-    760     Reaffirmed
Amara Raja Power Systems Ltd            CC                 CRISIL         699     Reaffirmed
                                                           BBB+/Negative
Amara Raja Power Systems Ltd            Proposed LT Bk     CRISIL         1596    Reaffirmed
                                        Loan Fac           BBB+/Negative
Asian Footwears Pvt Ltd                 Drop Line          CRISIL         50      Upgraded from
                                        Overdraft Fac      BB-/Stable             CRISIL
                                                                                  B+/Stable'
Asian Footwears Pvt Ltd                 LT Loan            CRISIL         73.1    Upgraded from
                                                           BB-/Stable             CRISIL
                                                                                  B+/Stable'
Asian Footwears Pvt Ltd                 Proposed FB Bk     CRISIL         26.9    Upgraded from
                                        Limits             BB-/Stable             CRISIL
                                                                                  B+/Stable'
B.N.R. Constructions                    BG                 CRISIL D       350     Downgraded
                                                                                  from 'CRISIL
                                                                                  A4+
B.N.R. Constructions                    LT Loan            CRISIL D       30      Downgraded
                                                                                  from 'CRISIL
                                                                                  BB-
B.N.R. Constructions                    Overdraft          CRISIL D       50      Downgraded
                                                                                  from 'CRISIL
                                                                                  BB-
B.N.R. Constructions                    Proposed LT Bk     CRISIL D       70      Downgraded
                                        Loan Fac                                  from 'CRISIL
                                                                                  BB-
Bansal Ship Breakers                    LOC                CRISIL         50      Reaffirmed
                                                           B+/Stable
Bansal Ship Breakers                    Proposed LT Bk     CRISIL         50      Reaffirmed
                                        Loan Fac           B+/Stable
Bhagwati Enterprises - Morena           Overdraft          CRISIL BB      8.5     Reaffirmed
Britannia Industries Ltd                CC**               CRISIL         500     Reaffirmed
                                                           AAA/Stable
**Interchangeable with working capital demand loan and overdraft
Britannia Industries Ltd                Proposed LT Bk     CRISIL         5000    Reaffirmed
                                        Loan Fac           AAA/Stable
Britannia Industries Ltd                WC Demand Loan^    CRISIL         1000    Reaffirmed
                                                           AAA/Stable
^Interchangeable with overdraft or cash credit
Britannia Industries Ltd                NCD                CRISIL         5000    Assigned
                                                           AAA/Stable
Britannia Industries Ltd                NCD                CRISIL         7200    Reaffirmed
                                                           AAA/Stable
Deluxe Fabrics Ltd                      CC*                CRISIL B+ /    120     Migrated from
                                                           Stable                 CRISIL B+
(Issuer Not Cooperating)
DSP Investment Managers Pvt Ltd         DSP Low Duration   CRISIL A+mfs           Revised to
                                        Fund                                      Rating Watch
                                                                                  with Positive
Implications' from 'Rating Watch with Negative Implications'
Revised to 'Rating Watch with Positive Implications' from 'Rating Watch with Negative
Implications'
Eastern Metec Pvt Ltd                   CC                 CRISIL         40      Reaffirmed
                                                           B+/Stable
Green Woodcrafts Pvt Ltd                CC                 CRISIL         40      Upgraded from
                                                           BB-/Stable             CRISIL
                                                                                  B+/Stable'
Green Woodcrafts Pvt Ltd                Proposed CC Limit  CRISIL         7.3     Upgraded from
                                                           BB-/Stable             CRISIL
                                                                                  B+/Stable'
Indo Global Commercials Pvt Ltd         CC                 CRISIL         120     Reaffirmed
                                                           BB+/Positive
Indo Global Commercials Pvt Ltd         Proposed FB Bk     CRISIL         25      Reaffirmed
                                        Limits             BB+/Positive
Indo Global Commercials Pvt Ltd         Standby LOC        CRISIL         200     Reaffirmed
                                                           BB+/Positive
Induss Food Products and Equipments Ltd CC                 CRISIL         18      Reaffirmed
                                                           BBB/Negative
(Outlook revised from 'Stable' )
Kochar Rice Exim Pvt Ltd                CC                 CRISIL         25.4    Reaffirmed
                                                           B+/Stable
Kochar Rice Exim Pvt Ltd                Foreign Bill       CRISIL         20      Reaffirmed
                                        Purchase           B+/Stable
Kochar Rice Exim Pvt Ltd                Proposed LT Bk     CRISIL         55.6    Reaffirmed
                                        Loan Fac           B+/Stable
L. N. Malviya Consultant                CC                 CRISIL         10      Reaffirmed
                                                           B+/Stable
L. N. Malviya Consultant                Proposed LT Bk     CRISIL         1       Reaffirmed
                                        Loan Fac           B+/Stable
Livingstones                            Bill Discounting   CRISIL         67.6    Reaffirmed
                                                           BB-/Stable
Livingstones                            Export Packing     CRISIL         48      Reaffirmed
                                        Credit             BB-/Stable
Livingstones                            Proposed LT Bk     CRISIL         10.7    Reaffirmed
                                        Loan Fac           BB-/Stable
Livingstones Jewellery Pvt Ltd          Bill Discounting   CRISIL         46.5    Reaffirmed
                                                           BB-/Stable
Livingstones Jewellery Pvt Ltd          CC                 CRISIL         35      Reaffirmed
                                                           BB-/Stable
Livingstones Jewellery Pvt Ltd          Export Packing     CRISIL         10      Reaffirmed
                                        Credit             BB-/Stable
Livingstones Jewellery Pvt Ltd          Proposed LT Bk     CRISIL         5       Reaffirmed
                                        Loan Fac           BB-/Stable
Madan Trading Co Pvt Ltd                Foreign Bill       CRISIL         100     Reaffirmed
                                        Discounting        BB-/Stable
Mercury Car Rentals Pvt Ltd             LT Loan            CRISIL         3950    Reaffirmed
                                                           BBB+/Stable
Mercury Car Rentals Pvt Ltd             Overdraft          CRISIL         150     Reaffirmed
                                                           BBB+/Stable
PICL (India) Pvt Ltd                    Bill Discounting   CRISIL         25      -
                                                           A-/Stable
PICL (India) Pvt Ltd                    CC                 CRISIL         360     -
                                                           A-/Stable
PICL (India) Pvt Ltd                    TL                 CRISIL         75      -
                                                           A-/Stable
PICL (India) Pvt Ltd                    Proposed FB Bk     CRISIL         35      -
                                        Limits             A-/Stable
Pristine Commercials Pvt Ltd            CC                 CRISIL         47.5    Reaffirmed
                                                           BBB-/Stable
Pristine Commercials Pvt Ltd            Channel Financing  CRISIL         50      Reaffirmed
                                                           BBB-/Stable
Rajender Prasad Pramod Kumar Jain       Foreign LOC        CRISIL         170     Reaffirmed
                                                           B+/Stable
Rajender Prasad Pramod Kumar Jain       Secured Overdraft  CRISIL         25      Reaffirmed
                                        Fac                B+/Stable
Red Rose Kindergarten Society           Proposed LT Bk     CRISIL         18      Reaffirmed
                                        Loan Fac           BB/Stable
Red Rose Kindergarten Society           TL                 CRISIL         40      Reaffirmed
                                                           BB/Stable
Rural Institute of Social and Economic  LT Loan            CRISIL D       100     Migrated from
Empowerment                                                                       CRISIL D
(Issuer Not Cooperating)
Rural Institute of Social and Economic  Overdraft          CRISIL D       20      Migrated from
Empowerment                                                                       CRISIL D
(Issuer Not Cooperating)
Rural Institute of Social and Economic  Proposed LT Bk     CRISIL D       100     Migrated from
Empowerment                             Loan Fac                                  CRISIL D
(Issuer Not Cooperating)
SBI Cards and Payment Services Ltd      LT Bk Fac**        CRISIL         140000  Reaffirmed
                                                           AAA/Stable
**Cash credit/working capital demand loan
SBI Cards and Payment Services Ltd      Proposed LT Bk     CRISIL         25000   Reaffirmed
                                        Loan Fac**         AAA/Stable
**Cash credit/working capital demand loan
SBI Cards and Payment Services Ltd      NCD                CRISIL         10000   Assigned
                                                           AAA/Stable
SBI Cards and Payment Services Ltd      NCDs               CRISIL         30000   Reaffirmed
                                                           AAA/Stable
SBI Cards and Payment Services Ltd      Lower Tier II BondsCRISIL         150020  Reaffirmed
                                                           AAA/Stable
SBI Cards and Payment Services Ltd      Lower Tier II BondsCRISIL         1748    Withdrawn
                                                           AAA/Stable
Shyam Hatcheries                        CC                 CRISIL         55      Reaffirmed
                                                           BB-/Stable
Shyam Hatcheries                        TL                 CRISIL         45      Reaffirmed
                                                           BB-/Stable
Simran Group Of Industries              CC                 CRISIL B       10      Reaffirmed
Simran Group Of Industries              TL                 CRISIL B       65      Reaffirmed
Transcorp International Ltd             FD                 FB+/Negative   150     Withdrawn
(Issuer Not Cooperating)
Unique Malls Pvt Ltd                    LT Loan            CRISIL         1875    Reaffirmed
                                                           BB-/Stable
Vijay Nirman Company Pvt Ltd            BG                 CRISIL D       5203    Downgraded
                                                                                  from 'CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Vijay Nirman Company Pvt Ltd            CC                 CRISIL D       2500    Downgraded
                                                                                  from 'CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Vijay Nirman Company Pvt Ltd            Proposed BG        CRISIL D       297     Downgraded
                                                                                  from 'CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
--------------------------------------------------------------------------------------------
$: 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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