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CRISIL ratings for Indian debt instruments-Sep 7

    Sep 7 - Below are the ratings awarded by Credit Rating Information Service of India (CRISIL)
for local debt instruments as of September 4, 2020.


COMPANY                                INSTRUMENT        RATING        AMOUNT MOVEMENT
                                                                      (RS.MLN)
------                                 ----------        ------        -----  ---------
SHORT TERM RATINGS:
-------------------
Axoli Tiles Pvt Ltd                    ST Rating         CRISIL A4+    -      Reaffirmed
Brindavan Agro Industries Pvt Ltd      Overdraft         CRISIL A2+    100    Reaffirmed
Brindavan Agro Industries Pvt Ltd      ST Rating         CRISIL A2+           Reaffirmed
Centum Electronics Ltd                 LOC & BG          CRISIL A3     1327   Reaffirmed
Centum Electronics Ltd                 Packing Credit in CRISIL A3     200    Reaffirmed
                                       Foreign Currency
Chevrox Constructions Pvt Ltd          ST Rating         CRISIL A3     -      Reaffirmed
Excelsource International Pvt Ltd      ST Rating         CRISIL A4     -      Reaffirmed
Gemscab Industries Ltd                 ST Rating         CRISIL A2+    -      -
Green Mobiles                          BG                CRISIL A3+    500    Reaffirmed
Green Mobiles                          Purchase Bill     CRISIL A3+    200    Reaffirmed
                                       Discounting
H. R. Polycoats Pvt Ltd                LOC               CRISIL A3     70     -
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING)
Hindustan Petroleum Corporation Ltd    ST Rating         CRISIL A1+    -      Reaffirmed
Hindustan Petroleum Corporation Ltd    CP Programme      CRISIL A1+    150000 Reaffirmed
Hindustan Petroleum Corporation Ltd    CP Programme      CRISIL A1+    150000 Reaffirmed
Modelama Exports Pvt Ltd               ST Rating         CRISIL A3+    -      Reaffirmed
Ojus Power and Technologies Pvt Ltd    LOC & BG          CRISIL A4+    20     Reaffirmed
Rajyalakshmi Marine Exports            Packing Credit    CRISIL A4+    40     Assigned
Rajyalakshmi Marine Exports            Packing Credit    CRISIL A4+    40     Assigned
Rasun Exports Pvt Ltd                  ST Rating         CRISIL A4     -      -
(Migrated from 'CRISIL A4 ISSUER NOT COOPERATING')
Raymond UCO Denim Pvt Ltd              Non-FBL           CRISIL A3+    1080   -
(Downgraded from 'CRISIL A2'; Continues on 'Rating Watch with Negative Implications' )
Raymond UCO Denim Pvt Ltd              Vendor Financing  CRISIL A3+    750    -
(Downgraded from 'CRISIL A2'; Continues on 'Rating Watch with Negative Implications' )
Rba Ferro Industries Pvt Ltd           ST Rating         CRISIL A3     -      -
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING')
Rudra Enterprises - Asansol            BG                CRISIL A3     40     -
Sahu Exports                           Proposed Packing  CRISIL A3+    100    Reaffirmed
                                       Credit
Sivaguru Spinning Mills Pvt Ltd        ST Rating         CRISIL A4     -      Assigned
Uneecops Technologies Ltd              ST Rating         CRISIL A4+    -      -
(Downgraded from 'CRISIL A3' and Rating withdrawn)
Universal Precision Screws             ST Rating         CRISIL A3+    -      Reaffirmed
Welspun Corp Ltd                       BG                CRISIL A1+    10330  Reaffirmed
Welspun Corp Ltd                       LOC               CRISIL A1+    34900  Reaffirmed
Welspun Corp Ltd                       Proposed LOC & BG CRISIL A1+    12120  Reaffirmed
Welspun Corp Ltd                       CP                CRISIL A1+    5000   Reaffirmed

 
MEDIUM TERM RATINGS:
-------------------
Hindustan Petroleum Corporation Ltd    FD Programme      FAAA/Stable   30000  Reaffirmed
Hindustan Petroleum Corporation Ltd    FD Programme      FAAA/Stable   -      Reaffirmed

 


LONG TERM RATINGS:
-------------------
Abhay Fire Engineering and Services Pvt Rating Advisory  -             -      -
Ltd
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Aeindri Agro Food Product Pvt Ltd      LT Rating         CRISIL        -      -
                                                         B+/Stable
(Upgraded from 'CRISIL B/Stable' )
Asirvad Microfinance Ltd               Northern Arc 2019 CRISIL A-     -      -
                                       MFI Artemis
                                       -Series A PTCs
(Continues on 'Rating Watch with Negative  Implications')
Asirvad Microfinance Ltd               Northern Arc 2019 CRISIL A-     -      -
                                       MFI Artemis
                                       -Series A PTCs
(Continues on 'Rating Watch with Negative  Implications')
Axoli Tiles Pvt Ltd                    LT Rating         CRISIL        -      Reaffirmed
                                                         BB-/Stable
Brindavan Agro Industries Pvt Ltd      CC                CRISIL        300    Reaffirmed
                                                         A-/Stable
Brindavan Agro Industries Pvt Ltd      Proposed LT Bk    CRISIL        694.1  Reaffirmed
                                       Loan Fac          A-/Stable
Brindavan Agro Industries Pvt Ltd      TL                CRISIL        15.9   Reaffirmed
                                                         A-/Stable
Brindavan Agro Industries Pvt Ltd      LT Rating         CRISIL               Reaffirmed
                                                         A-/Stable
Centum Electronics Ltd                 CC                CRISIL        410    Reaffirmed
                                                         BBB-/Stable
Centum Electronics Ltd                 Cash TL           CRISIL        380    Reaffirmed
                                                         BBB-/Stable
Centum Electronics Ltd                 Export Packing    CRISIL        750    Reaffirmed
                                       Credit            BBB-/Stable
Centum Electronics Ltd                 WC Demand Loan    CRISIL        430    Assigned
                                                         BBB-/Stable
Chevrox Constructions Pvt Ltd          LT Rating         CRISIL        -      Reaffirmed
                                                         BBB-/Stable
Clear Polyplast India Pvt Ltd          CC                CRISIL        145    Reaffirmed
                                                         BBB/Stable
Clear Polyplast India Pvt Ltd          Proposed FB Bk    CRISIL        145.2  Reaffirmed
                                       Limits            BBB/Stable
Clear Polyplast India Pvt Ltd          TL                CRISIL        9.8    Reaffirmed
                                                         BBB/Stable
Dipu Enterprises Pvt Ltd               CC                CRISIL        170    Reaffirmed
                                                         BB-/Stable
Dipu Enterprises Pvt Ltd               Proposed LT Bk    CRISIL        5.7    Reaffirmed
                                       Loan Fac          BB-/Stable
Dipu Enterprises Pvt Ltd               SME Gold Card     CRISIL        17     Reaffirmed
                                                         BB-/Stable
Dipu Enterprises Pvt Ltd               TL                CRISIL        7.3    Reaffirmed
                                                         BB-/Stable
Elite Foods Pvt Ltd                    CC                CRISIL        50     Reaffirmed
                                                         BBB+/Stable
Elite Foods Pvt Ltd                    Proposed LT Bk    CRISIL        50     Reaffirmed
                                       Loan Fac          BBB+/Stable
Elite Green Pvt Ltd                    Export Packing    CRISIL        200    Reaffirmed
                                       Credit            BBB+/Stable
Elite Green Pvt Ltd                    Foreign Bill      CRISIL        50     Reaffirmed
                                       Discounting       BBB+/Stable
Elite Green Pvt Ltd                    LT Loan           CRISIL        1      Reaffirmed
                                                         BBB+/Stable
Elite Green Pvt Ltd                    Proposed WC Fac   CRISIL        19     Reaffirmed
                                                         BBB+/Stable
Elite Natural Pvt Ltd                  LT Rating         CRISIL        -      Reaffirmed
                                                         BBB+/Stable
Elite Tasty Toast Pvt Ltd              CC                CRISIL        15     Reaffirmed
                                                         BBB+/Stable
Elite Tasty Toast Pvt Ltd              LT Loan           CRISIL        18.1   Reaffirmed
                                                         BBB+/Stable
Elite Tasty Toast Pvt Ltd              Proposed LT Bk    CRISIL        16.9   Reaffirmed
                                       Loan Fac          BBB+/Stable
Gala Global Products Ltd               LT Rating         CRISIL        -      -
                                                         BB+/Stable
(Downgraded from 'CRISIL BBB-/Stable')
Gemscab Industries Ltd                 LT Rating         CRISIL        -      -
                                                         A-/Stable 
Genesys Biologics Pvt Ltd              CC                CRISIL D      110    Reaffirmed
Genesys Biologics Pvt Ltd              Proposed LT Bk    CRISIL D      5      Reaffirmed
                                       Loan Fac
Genesys Biologics Pvt Ltd              TL                CRISIL D      585    Assigned
Green Mobiles                          Proposed LT Bk    CRISIL        500    Reaffirmed
                                       Loan Fac          BBB/Stable
H. R. Polycoats Pvt Ltd                CC                CRISIL        275    -
                                                         BBB-/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
H. R. Polycoats Pvt Ltd                Fund & NFBL       CRISIL        4      -
                                                         BBB-/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
H. R. Polycoats Pvt Ltd                Proposed FB Bk    CRISIL        12.8   -
                                       Limits            BBB-/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
H. R. Polycoats Pvt Ltd                TL                CRISIL        150.6  -
                                                         BBB-/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
H. R. Polycoats Pvt Ltd                WC Demand Loan    CRISIL        27.5   -
                                                         BBB-/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
H. R. Polycoats Pvt Ltd                WC Fac            CRISIL        60.1   -
                                                         BBB-/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
Hindustan Petroleum Corporation Ltd    LT Rating         CRISIL        -      Reaffirmed
                                                         AAA/Stable
Hindustan Petroleum Corporation Ltd    NCD               CRISIL
                                                         AAA/Stable
Hindustan Petroleum Corporation Ltd    NCD               CRISIL        60000  Assigned
                                                         AAA/Stable
Hindustan Petroleum Corporation Ltd    NCD               CRISIL        40000  Reaffirmed
                                                         AAA/Stable
Hindustan Petroleum Corporation Ltd    NCD               CRISIL        20000  Reaffirmed
                                                         AAA/Stable
Hindustan Petroleum Corporation Ltd    NCD               CRISIL        25000  Reaffirmed
                                                         AAA/Stable
Hindustan Petroleum Corporation Ltd    NCD               CRISIL        60000  Assigned
                                                         AAA/Stable
Hindustan Petroleum Corporation Ltd    NCD               CRISIL        40000  Reaffirmed
                                                         AAA/Stable
Hindustan Petroleum Corporation Ltd    NCD               CRISIL        20000  Reaffirmed
                                                         AAA/Stable
Hindustan Petroleum Corporation Ltd    NCD               CRISIL        25000  Reaffirmed
                                                         AAA/Stable
Hindustan Petroleum Corporation Ltd    NCD               CRISIL        30000  Reaffirmed
                                                         AAA/Stable
Kesoram Industries Ltd                 NCD               CRISIL D      16500  Assigned
Meenakshi Traders - Cochin             CC                CRISIL        90     Reaffirmed
                                                         BB+/Stable
Meenakshi Traders - Cochin             Proposed WC Fac   CRISIL        10     Reaffirmed
                                                         BB+/Stable
Modelama Exports Pvt Ltd               LT Rating         CRISIL        -      Reaffirmed
                                                         BBB/Stable
Muthoot Capital Services Ltd           Vivriti Patroclus CRISIL AA+    -      -
                                       10 2019 -Series A1
                                       PTCs
(Continues on 'Rating Watch with Negative  Implications')
Muthoot Capital Services Ltd           Achilles 02 2020  CRISIL AA+    -      -
                                       -Series A1 PTCs
(Converted from provisional rating to final rating/Continues on 'Rating Watch with Negative 
Implications')
Ojus Power and Technologies Pvt Ltd    CC                CRISIL        100    Reaffirmed
                                                         BB+/Stable
Ojus Power and Technologies Pvt Ltd    Channel Financing CRISIL        35     Reaffirmed
                                                         BB+/Stable
Ojus Power and Technologies Pvt Ltd    TL                CRISIL        84.5   Assigned
                                                         BB+/Stable
Ojus Power and Technologies Pvt Ltd    Proposed FB Bk    CRISIL        0.5    Assigned
                                       Limits            BB+/Stable
Rajyalakshmi Marine Exports            WC TL             CRISIL        29.6   Assigned
                                                         BB-/Stable
Rajyalakshmi Marine Exports            Proposed LT Bk    CRISIL        30.4   Assigned
                                       Loan Fac          BB-/Stable
Rajyalakshmi Marine Exports            Foreign Bill      CRISIL        60     Assigned
                                       Discounting       BB-/Stable
Rajyalakshmi Marine Exports            WC TL             CRISIL        29.6   Assigned
                                                         BB-/Stable
Rajyalakshmi Marine Exports            Proposed LT Bk    CRISIL        30.4   Assigned
                                       Loan Fac          BB-/Stable
Rajyalakshmi Marine Exports            Foreign Bill      CRISIL        60     Assigned
                                       Discounting       BB-/Stable
Rasun Exports Pvt Ltd                  LT Rating         CRISIL        -      -
                                                         B/Stable
(Migrated from 'CRISIL B/Stable ISSUER NOT COOPERATING')
Raymond UCO Denim Pvt Ltd              FB Fac            CRISIL BBB    2840   -
(Downgraded from 'CRISIL BBB+'; Continues on 'Rating Watch with Negative Implications' )
Raymond UCO Denim Pvt Ltd              TL                CRISIL BBB    673    -
(Downgraded from 'CRISIL BBB+'; Continues on 'Rating Watch with Negative Implications' )
Rba Ferro Industries Pvt Ltd           LT Rating         CRISIL        -      -
                                                         BBB-/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
Rudra Enterprises - Asansol            CC                CRISIL        100    -
                                                         BBB-/Stable
S.K.P.V.V. Hindu High Schools Committee Secured Overdraft CRISIL D     100    Reaffirmed
                                       Fac
Sahu Exports                           Export Packing    CRISIL        150    Reaffirmed
                                       Credit            BBB/Stable
Sahu Exports                           Proposed FB Bk    CRISIL        40     Reaffirmed
                                       Limits            BBB/Stable
Sahu Exports                           Proposed TL       CRISIL        60     Reaffirmed
                                                         BBB/Stable
Sai Export Enterprises                 LT Rating         CRISIL        -      Reassigned
                                                         B/Stable
Shriram City Union Finance Ltd         Mobil Trust Series CRISIL AAA   -      -
                                       09 -Series A PTCs
(Continues on 'Rating Watch with Negative  Implications')
Sivaguru Spinning Mills Pvt Ltd        LT Rating         CRISIL        -      Assigned
                                                         B+/Stable
Sree Guru Raghavendra Cotton Ginning   CC                CRISIL        50     Reaffirmed
Factory                                                  B/Stable
Sri Dhanalakshmi Traders               LT Rating         CRISIL D      -      -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B+/Stable)
Uneecops Technologies Ltd              LT Rating         CRISIL        -      -
                                                         BB+/Stable
(Downgraded from 'CRISIL BBB-/Negative' and Rating withdrawn)
Universal Precision Screws             LT Rating         CRISIL        -      Reaffirmed
                                                         BBB/Stable
(Outlook revised from 'Positive' and rating reaffirmed)
Welspun Corp Ltd                       CC                CRISIL        900    Reaffirmed
                                                         AA/Stable
Welspun Corp Ltd                       NCD               CRISIL        900    Reaffirmed
                                                         AA/Stable
 
Woodkraft India Pvt Ltd                LT Rating         CRISIL        -      -
                                                         BBB/Stable
(Assigned; Suspension Revoked)
--------------------------------------------------------------------------------------------
$: 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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