September 24, 2019 / 5:48 AM / 21 days ago

CRISIL ratings for Indian debt instruments-Sep 24

   Sep 24 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of September 23, 2019.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Abaris Healthcare Pvt Ltd               LOC                CRISIL A3      70      Assigned
Abaris Healthcare Pvt Ltd               BG                 CRISIL A3      25      Assigned
Abhitech Energycon Ltd                  BG                 CRISIL A4+     30      Reaffirmed
Anjalee Nature Works                    Packing Credit     CRISIL A4+     30      Assigned
Anjali Hotels Pvt Ltd                   BG                 CRISIL A4+     150     Reaffirmed
Bhandari Hosiery Exports Ltd            BG                 CRISIL A3+     3       Reaffirmed
Bhandari Hosiery Exports Ltd            Foreign Exchange   CRISIL A3+     2.7     Reaffirmed
                                        Forward
Diaexports Corporation                  Post Shipment      CRISIL A4+     50      Reaffirmed
                                        Credit
Diaexports Corporation                  Proposed ST Bk     CRISIL A4+     40      Reaffirmed
                                        Loan Fac
Elegant Collection                      BG                 CRISIL A2+     5       Reaffirmed
Elegant Collection                      Foreign Exchange   CRISIL A2+     20      Reaffirmed
                                        Forward
Eplus Projects Pvt Ltd                  BG                 CRISIL A4      80      Reaffirmed
(Issuer Not Cooperating) 
Eureka Systems and Electrodes Pvt Ltd   Import LOC Limit   CRISIL A4      5       Reaffirmed
Frontier Motors                         BG                 CRISIL A4+     23      Reaffirmed
G R Infraprojects Ltd                   LOC & BG           CRISIL A1+     18700   Reaffirmed
G R Infraprojects Ltd                   Proposed LOC & BG  CRISIL A1+     300     Reaffirmed
Godrej Industries Ltd                   CP Programme       CRISIL A1+     10000   Reaffirmed
Ideal Chemicals India Pvt Ltd           BG                 CRISIL A4      30      Reaffirmed
Jasani India Pvt Ltd                    Export Packing     CRISIL A2+     350     Reaffirmed
                                        Credit
Jasani India Pvt Ltd                    Foreign Exchange   CRISIL A2+     2.2     Reaffirmed
                                        Forward
Jasani India Pvt Ltd                    Post Shipment      CRISIL A2+     106     Reaffirmed
                                        Credit
MEHR Image Pvt Ltd                      BG                 CRISIL A4+     3.7     Assigned
MEHR Image Pvt Ltd                      Inland/Import LOC  CRISIL A4+     10      Assigned
Motilal Oswal Financial Services Ltd    CP Programme       CRISIL A1+     13000   Reaffirmed
P. B. Construction Co.                  BG                 CRISIL A4+     170     Reaffirmed
Peekay Agencies Pvt Ltd                 LOC & BG           CRISIL A3+     125     Reaffirmed
PNB Housing Finance Ltd                 ST NCDs            CRISIL A1+     5000    Assigned
PNB Housing Finance Ltd                 CP Programme       CRISIL A1+     260000  Reaffirmed
Raj Engineering Company                 BG                 CRISIL A4+     150     Reaffirmed
Raj Engineering Company                 LOC                CRISIL A4+     70      Reaffirmed
Royal Petrochem                         Proposed NFBL      CRISIL A3      50      Assigned
Shilpi Construction-Giridih             BG                 CRISIL A4      70      Reaffirmed
Shree Electromelts Ltd                  LOC                CRISIL A3      500     Reaffirmed
Siddhartha Electrotec And Trading Pvt   LOC                CRISIL A4      65      Reaffirmed
Ltd
Social Engineers Pvt Ltd                Inland/Import LOC  CRISIL A4      10      Assigned
Sravins Instruments and Systems         BG                 CRISIL A4+     80      Reaffirmed
Migrated from CRISIL A4+:(Issuer Not Cooperating) 
STS Utility Services                    BG                 CRISIL A4      30      Reaffirmed
Sunraja Oil Industries Pvt Ltd          LOC                CRISIL A3+     400     Reaffirmed
Swaroop Techno Components Pvt Ltd       LOC                CRISIL A3      80      Reaffirmed
Tirupathi Construction Corporation      BG                 CRISIL A4+     90      Reaffirmed
Tirupathi Construction Corporation      Proposed ST Bk     CRISIL A4+     10      Reaffirmed
                                        Loan Fac
VARKS Engineers Pvt Ltd                 BG                 CRISIL A3      420     Reaffirmed
Vizag Exports                           Export Packing     CRISIL A4      120     Reaffirmed
                                        Credit

MEDIUM TERM RATINGS:
-------------------
PNB Housing Finance Ltd                 FD Programme       FAAA/Negative  200000  Reaffirmed
(Enhanced from Rs.18500 Crore)

LONG TERM RATINGS:
-------------------
Abaris Healthcare Pvt Ltd               LT Loan            CRISIL BBB-    116.8   Assigned
Abaris Healthcare Pvt Ltd               CC                 CRISIL BBB-    130     Assigned
Abhitech Energycon Ltd                  CC                 CRISIL BB      45      Reaffirmed
Abhitech Energycon Ltd                  LT Loan            CRISIL BB      21.3    Reaffirmed
Abhitech Energycon Ltd                  Proposed LT Bk     CRISIL BB      3.7     Assigned
                                        Loan Fac
Adarsh Food Products Pvt Ltd            CC                 CRISIL BB-     80      Assigned
Adarsh Food Products Pvt Ltd            Proposed CC Limit  CRISIL BB-     40      Assigned
Amit Petrolubes Pvt Ltd                 Buyer`s Credit     CRISIL BB+     300     Assigned
Anjalee Nature Works                    CC                 CRISIL BB-     40      Assigned
Anjalee Nature Works                    Foreign LOC        CRISIL BB-     15      Assigned
Anjali Hotels Pvt Ltd                   CC                 CRISIL BB+     250     Reaffirmed
Anjali Hotels Pvt Ltd                   TL                 CRISIL BB+     410     Assigned
Bhandari Hosiery Exports Ltd            CC                 CRISIL BBB     560     Reaffirmed
Bhandari Hosiery Exports Ltd            LT Loan            CRISIL BBB     110     Reaffirmed
Bhandari Hosiery Exports Ltd            Standby Line of    CRISIL BBB     20      Reaffirmed
                                        Credit
Bhandari Hosiery Exports Ltd            TL                 CRISIL BBB     266.1   Reaffirmed
Bhopal Motors Pvt Ltd                   Inventory Funding  CRISIL B       230     -
                                        Fac
(Downgraded from CRISIL B+/Stable)
Chirakekaren Glass House Pvt Ltd        CC                 CRISIL B-      60      Reaffirmed
Chirakekaren Glass House Pvt Ltd        Loan Against       CRISIL B-      41.6    Reaffirmed
                                        Property
Chirakekaren Glass House Pvt Ltd        LT Loan            CRISIL B-      40      Reaffirmed
Chirakekaren Glass House Pvt Ltd        WC TL              CRISIL B-      38.4    Reaffirmed
Elegant Collection                      Export Packing     CRISIL A-      370     Reaffirmed
                                        Credit

Elegant Collection                      Post Shipment      CRISIL A-      230     Reaffirmed
                                        Credit
Elegant Collection                      Proposed LT Bk     CRISIL A-      35      Reaffirmed
                                        Loan Fac
Elegant Collection                      Standby Line of    CRISIL A-      40      Reaffirmed
                                        Credit
Eplus Projects Pvt Ltd                  CC                 CRISIL B+      65      Reaffirmed
(Issuer Not Cooperating) 
Eplus Projects Pvt Ltd                  Proposed CC Limit  CRISIL B+      5       Reaffirmed
(Issuer Not Cooperating) 
Eureka Systems and Electrodes Pvt Ltd   CC                 CRISIL B+      25      Reaffirmed
Eureka Systems and Electrodes Pvt Ltd   Foreign Bill       CRISIL B+      3       Reaffirmed
                                        Discounting
Eureka Systems and Electrodes Pvt Ltd   LT Loan            CRISIL B+      7.1     Reaffirmed
Eureka Systems and Electrodes Pvt Ltd   Proposed CC Limit  CRISIL B+      20      Reaffirmed
Eureka Systems and Electrodes Pvt Ltd   Proposed WC Fac    CRISIL B+      39.9    Reaffirmed
Frontier Motors                         CC                 CRISIL BB-     85      Reaffirmed
G R Infraprojects Ltd                   CC                 CRISIL AA-     1500    Reaffirmed
G R Infraprojects Ltd                   NCD                CRISIL         2750    -
                                                           AA-/Positive
G R Infraprojects Ltd                   NCD                CRISIL         2000    -
                                                           AA-/Positive
Global Leathers Pvt Ltd                 CC                 CRISIL BBB-    50      Reaffirmed
Global Leathers Pvt Ltd                 Proposed LT Bk     CRISIL BBB-    20      Reaffirmed
                                        Loan Fac
Global Leathers Pvt Ltd                 TL                 CRISIL BBB-    40      Assigned
Ideal Chemicals India Pvt Ltd           CC                 CRISIL B+      130     Reaffirmed
Ideal Chemicals India Pvt Ltd           Proposed LT Bk     CRISIL B+      70      Reaffirmed
                                        Loan Fac
Indus Motors Light Commercial Vehicles  CC                 CRISIL B       7.5     Reaffirmed
Pvt Ltd
Indus Motors Light Commercial Vehicles  Inventory Funding  CRISIL B       50      Reaffirmed
Pvt Ltd                                 Fac
Indus Motors Light Commercial Vehicles  Overdraft          CRISIL B       70      Reaffirmed
Pvt Ltd
Indus Motors Light Commercial Vehicles  Proposed LT Bk     CRISIL B       12.5    Reaffirmed
Pvt Ltd                                 Loan Fac
Jasani India Pvt Ltd                    Export Packing     CRISIL A-      2088.6  Reaffirmed
                                        Credit
Jasani India Pvt Ltd                    Post Shipment      CRISIL A-      1425.4  Reaffirmed
                                        Credit
Jasani India Pvt Ltd                    Proposed LT Bk     CRISIL A-      37.8    Reaffirmed
                                        Loan Fac
Kairali Exports                         Packing Credit     CRISIL B+      120     Reaffirmed
Kairali Exports                         Proposed LT Bk     CRISIL B+      210     Reaffirmed
                                        Loan Fac
Kohinoor Printers Pvt Ltd               CC                 CRISIL BB      50      -
(Downgraded from CRISIL BB+/Stable)
Kohinoor Printers Pvt Ltd               LT Loan            CRISIL BB      12.4    -
(Downgraded from CRISIL BB+/Stable)
Kohinoor Printers Pvt Ltd               Proposed FB Bk     CRISIL BB      37.6    -
                                        Limits
(Downgraded from CRISIL BB+/Stable)
MEHR Image Pvt Ltd                      Secured Overdraft  CRISIL BB      30      Assigned
                                        Fac
MEHR Image Pvt Ltd                      Proposed LT Bk     CRISIL BB      1.3     Assigned
                                        Loan Fac
MFL Securitisation Trust XC             Series A1 PTCs     Provisional    -       Provisional
(Originator: Magma Fincorp Ltd) - MFL                      CRISIL AAA (SO)        Rating
Securitisation Trust XC                                                           Assigned
MFL Securitisation Trust XC             Series A2 PTCs     Provisional    -       Provisional
(Originator: Magma Fincorp Ltd) - MFL                      CRISIL AAA (SO)        Rating
Securitisation Trust XC                                                           Assigned
MFL Securitisation Trust XC             Series B PTCs      Provisional    -       Provisional
(Originator: Magma Fincorp Ltd) - MFL                      CRISIL BBB-            Rating
Securitisation Trust XC                                    (SO) Equivalent        Assigned
N.T. Rahamathulla Khan Associates       Overdraft          CRISIL BB+     30      Reaffirmed
N.T. Rahamathulla Khan Associates       Proposed WC Fac    CRISIL BB+     40      Reaffirmed
Narbada Gems and Jewellery Ltd          CC                 CRISIL BB      140     Assigned
Nightingale Hotels Pvt Ltd              TL                 CRISIL BBB+    600     Reaffirmed
OM Agroenergy Pvt Ltd                   LT Loan            CRISIL B+      78.5    -
(Upgraded from CRISIL B/Stable)
Peekay Agencies Pvt Ltd                 CC                 CRISIL BBB     50      Reaffirmed
PNB Housing Finance Ltd                 LT Loan            CRISIL AA+     11980   Reaffirmed
PNB Housing Finance Ltd                 Proposed LT Bk     CRISIL AA+     28020   Reaffirmed
                                        Loan Fac
PNB Housing Finance Ltd                 Lower Tier II BondsCRISIL         4000    Reaffirmed
                                                           AA+/Negative
PNB Housing Finance Ltd                 Lower Tier II BondsCRISIL         5000    Reaffirmed
                                                           AA+/Negative
PNB Housing Finance Ltd                 NCDs               CRISIL         57000   Reaffirmed
                                                           AA+/Negative
Powerplus PTC Series I (Originator:     Series A PTCs      Provisional    -       Provisional
Piramal Capital and Housing Finance                        CRISIL AAA             Rating
Ltd) - Powerplus PTC Series I                              (SO)@                  Assigned
@A prefix of Provisional indicates that the rating centrally factors in the 
strength of specific structures, and will be supported by certain critical 
documentation by the issuer, without which the rating would either have been 
different or not assigned ab initio. This is in compliance with a May 6, 2015,
Securities and Exchange Board of India (SEBI) directive, Standardising the term, 
rating symbol, and manner of disclosure with regard to conditional/ provisional/ 
in-principle ratings assigned by CRAs.
Raj Engineering Company                 CC                 CRISIL BB+     80      Reaffirmed
Rajkamal Textiles                       CC                 CRISIL BB-     110     -
Rajkamal Textiles                       Proposed LT Bk     CRISIL BB-     20.9    Reaffirmed
                                        Loan Fac
Royal Petrochem                         Proposed FB Bk     CRISIL BBB-    50      Assigned
                                        Limits
Shilpi Construction-Giridih             CC                 CRISIL B+      50      Reaffirmed
Shirodkar Preci Comp Pvt Ltd            CC                 CRISIL BB+     120     Reaffirmed
Shirodkar Preci Comp Pvt Ltd            TL                 CRISIL BB+     60      Reaffirmed
Shiva Energy Resources Pvt Ltd          BG                 CRISIL D       25      -
Downgraded from CRISIL B/Stable (ISSUER NOT COOPERATING) 
Shiva Energy Resources Pvt Ltd          LT Loan            CRISIL D       149     -
Downgraded from CRISIL B/Stable (ISSUER NOT COOPERATING) 
Shree Electromelts Ltd                  CC                 CRISIL BBB-    75      Reaffirmed
Siddhartha Electrotec And Trading Pvt   CC                 CRISIL B+      5       Reaffirmed
Ltd
Social Engineers Pvt Ltd                Open CC            CRISIL B       40      Assigned
Sravins Instruments and Systems         CC                 CRISIL BB-     30      Reaffirmed
Migrated from CRISIL BB-/Stable (ISSUER NOT COOPERATING) 
Sravins Instruments and Systems         Proposed BG        CRISIL BB-     10      Reaffirmed
Migrated from CRISIL BB-/Stable (ISSUER NOT COOPERATING) 
Sri Balaji Textiles                     CC                 CRISIL BB-     69      Reaffirmed
Sri Balaji Textiles                     Proposed WC Fac    CRISIL BB-     1       Reaffirmed
Sri Bhagawan Mahaveer Jain Educational  Overdraft          -              200     Withdrawn
and Cultural Trust
(Rating Reaffirmed and Withdrawn)
Sri Bhagawan Mahaveer Jain Educational  TL                 -              5300    Withdrawn
and Cultural Trust
(Rating Reaffirmed and Withdrawn)
Sri Manmaya Textiles Pvt Ltd            CC                 CRISIL BB      25      Reaffirmed
Sri Manmaya Textiles Pvt Ltd            Loan Against       CRISIL BB      15.8    Reaffirmed
                                        Property
Sri Manmaya Textiles Pvt Ltd            Proposed WC Fac    CRISIL BB      30.2    Reaffirmed
Sribalaji Hatcheries Pvt Ltd            CC                 CRISIL BB+     90      Reaffirmed
STS Utility Services                    CC                 CRISIL B+      47.8    Upgraded from
                                                                                  CRISIL B
Sunraja Oil Industries Pvt Ltd          CC                 CRISIL BBB     70      Reaffirmed
Swaroop Techno Components Pvt Ltd       CC                 CRISIL BBB-    80      Reaffirmed
Swaroop Techno Components Pvt Ltd       TL                 CRISIL BBB-    17.5    Reaffirmed
Touch Wood Infra Ventures Pvt Ltd       LT Loan            CRISIL B+      180     Assigned
V.R. Foundries                          Bill Discounting   CRISIL D       40      Reaffirmed
V.R. Foundries                          CC                 CRISIL D       150     Reaffirmed
V.R. Foundries                          TL                 CRISIL D       420     Reaffirmed
VARKS Engineers Pvt Ltd                 CC                 CRISIL BBB-    340     Reaffirmed
VARKS Engineers Pvt Ltd                 Proposed BG        CRISIL BBB-    240     Reaffirmed
VARKS Engineers Pvt Ltd                 Proposed CC Limit  CRISIL BBB-    50      Reaffirmed
VARKS Engineers Pvt Ltd                 Proposed LT Bk     CRISIL BBB-    150     Reaffirmed
                                        Loan Fac
Vizag Exports                           Proposed LT Bk     CRISIL B+      75      -
                                        Loan Fac
(Upgraded from CRISIL B-/Stable)
Walking Tree (India) Pvt Ltd            CC                 CRISIL BBB     1000    Reaffirmed
Walking Tree (India) Pvt Ltd            Proposed CC Limit  CRISIL BBB     400     Assigned
--------------------------------------------------------------------------------------------
$: 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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below