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CRISIL ratings for Indian debt instruments-Sep 8

   Sep 8  - Below are the ratings awarded by Credit Rating Information Service of India (CRISIL)
for local debt instruments as of September 7, 2020.


COMPANY                                INSTRUMENT        RATING        AMOUNT MOVEMENT
                                                                      (RS.MLN)
------                                 ----------        ------        -----  ---------
SHORT TERM RATINGS:
-------------------
APPL Industries Ltd                    LOC & BG          CRISIL A3     100    Reaffirmed
B. Braun Medical India Pvt Ltd         BG                CRISIL A3+    100    Reaffirmed
Baroque Pharmaceuticals Pvt Ltd        Foreign Exchange  CRISIL A3     5      Reaffirmed
                                       Forward
Baroque Pharmaceuticals Pvt Ltd        LOC               CRISIL A3     30     Reaffirmed
Celebi Airport Services India Pvt Ltd  BG                CRISIL A3+    711    Reaffirmed
Delhi Airport Parking Services Pvt Ltd BG                CRISIL A2     50     -
(Downgraded from 'CRISIL A1')
GMP Weaving Mills Pvt Ltd              BG                CRISIL A4+    3.2    Assigned
La Renon Healthcare Pvt Ltd            Sales Bill        CRISIL A2+    200    Reaffirmed
                                       Discounting
La Renon Healthcare Pvt Ltd            ST Bk Fac         CRISIL A2+    200    Reaffirmed
Muthoottu Mini Financiers Ltd          Northern Arc 2019 CRISIL A1     -      Withdrawn
                                       GL Aurum -Series
                                       A1 PTCs
Rashtriya Chemicals and Fertilizers Ltd Buyer`s Credit@  CRISIL A1+    60000  Reaffirmed
(@Fully interchangeable with Working Capital Demand Loan, Letter of Credit and Bank Guarantee)
Ravi Infrabuild Projects Pvt Ltd       BG                CRISIL A2     1970   Reaffirmed
Reliance Jio Infocomm Ltd              CP                CRISIL A1+    350000 Reaffirmed
Sabitri Traders                        Bill Purchase     CRISIL A4     20.3   Reaffirmed
                                       Discounting Fac
Sabitri Traders                        Packing Credit    CRISIL A4     20     Reaffirmed
Sabitri Traders                        Proposed ST Bk    CRISIL A4     109.7  Reaffirmed
                                       Loan Fac
Shiv Sai Construction                  BG                CRISIL A4+    108    Reaffirmed
SKY Spintex Pvt Ltd                    BG                CRISIL A3     25     Reaffirmed
Sterlite Technologies Ltd              CP                CRISIL A1+    6500   Reaffirmed
The Ramaraju Surgical Cotton Mills Ltd BG                CRISIL A2     10     Reaffirmed
Varsa Plastic Industries Pvt Ltd       Packing Credit    CRISIL A3     150    Reaffirmed
Varsa Plastic Industries Pvt Ltd       Packing Credit in CRISIL A3     50     Reaffirmed
                                       Foreign Currency

 

LONG TERM RATINGS:
-------------------
APPL Industries Ltd                    CC                CRISIL        950    Reaffirmed
                                                         BBB-/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
APPL Industries Ltd                    LT Loan           CRISIL        700    Reaffirmed
                                                         BBB-/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
APPL Industries Ltd                    Proposed FB Bk    CRISIL        250    Reaffirmed
                                       Limits            BBB-/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
B. Braun Medical India Pvt Ltd         CC/ Overdraft Fac CRISIL        540    Reaffirmed
                                                         BBB/Stable
B. Braun Medical India Pvt Ltd         Fund & NFBL       CRISIL        40     Reaffirmed
                                                         BBB/Stable
B. Braun Medical India Pvt Ltd         Proposed WC Fac   CRISIL        160    Reaffirmed
                                                         BBB/Stable
B. Braun Medical India Pvt Ltd         WC Fac            CRISIL        160    Reaffirmed
                                                         BBB/Stable
Baroque Pharmaceuticals Pvt Ltd        CC*               CRISIL        140    Reaffirmed
                                                         BBB-/Stable
(*EPC/FBD/PCFC/EBR of Rs 12 crore is a sublimit of CC)
Baroque Pharmaceuticals Pvt Ltd        TL                CRISIL        227.1  Reaffirmed
                                                         BBB-/Stable
Celebi Airport Services India Pvt Ltd  CC                CRISIL        350    Reaffirmed
                                                         BBB/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Celebi Airport Services India Pvt Ltd  Proposed FB Bk    CRISIL        362.8  Reaffirmed
                                       Limits            BBB/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Celebi Airport Services India Pvt Ltd  TL                CRISIL        926.2  Reaffirmed
                                                         BBB/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Delhi Airport Parking Services Pvt Ltd Rupee TL          CRISIL        1100   -
                                                         BBB+/Negative
(Downgraded from 'CRISIL A+/Negative')
Dr.D.Y.Patil Pratishthan               Overdraft         CRISIL        31     Reaffirmed
                                                         BBB/Negative
Dr.D.Y.Patil Pratishthan               Proposed LT Bk    CRISIL        570    Reaffirmed
                                       Loan Fac          BBB/Negative
Dr.D.Y.Patil Pratishthan               TL                CRISIL        149    Reaffirmed
                                                         BBB/Negative
Elite Agro Specialities                LT Loan           CRISIL        8.7    Reaffirmed
                                                         BBB+/Stable
Elite Agro Specialities              Warehouse Financing CRISIL        60     Reaffirmed
                                                         BBB+/Stable
Eurokids International Pvt Ltd         Overdraft         CRISIL        200    Reaffirmed
                                                         A-/Stable
Euroschool Foundation                  TL                CRISIL        450    Reaffirmed
                                                         A-/Stable
Euroschool Properties and              TL                CRISIL        840    Reaffirmed
Infrastructure Pvt Ltd                                   A-/Stable
GMP Weaving Mills Pvt Ltd              CC                CRISIL        50     Reaffirmed
                                                         BB-/Stable
(Migrated from 'CRISIL BB-/Stable ISSUER NOT COOPERATING')
GMP Weaving Mills Pvt Ltd              Proposed FB Bk    CRISIL        84.3   Reaffirmed
                                       Limits            BB-/Stable
(Migrated from 'CRISIL BB-/Stable ISSUER NOT COOPERATING')
GMP Weaving Mills Pvt Ltd              TL                CRISIL        182.5  Assigned
                                                         BB-/Stable
(Migrated from 'CRISIL BB-/Stable ISSUER NOT COOPERATING')
Goyal Ispat Pvt Ltd                    CC                CRISIL D      125    -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL C)
Goyal Ispat Pvt Ltd                    LOC               CRISIL D      50     -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL C)
HPCL Rajasthan Refinery Ltd            External          CRISIL        10030  Reaffirmed
                                       Commercial        AA/Stable
                                       Borrowings*
(*Equivalent to USD 140.71 million)
HPCL Rajasthan Refinery Ltd            LT Bk Fac         CRISIL        277500 Reaffirmed
                                                         AA/Stable
HPCL Rajasthan Refinery Ltd            Proposed LT Bk    CRISIL        12470  Reaffirmed
                                       Loan Fac          AA/Stable
La Renon Healthcare Pvt Ltd            CC                CRISIL        150    Reaffirmed
                                                         A-/Stable
La Renon Healthcare Pvt Ltd            Proposed LT Bk    CRISIL        300    Reaffirmed
                                       Loan Fac          A-/Stable
LRC Abarana Maaligai                   Secured Overdraft CRISIL        150    Reaffirmed
                                       Fac               B+/Stable
Muthoot Fincorp Ltd                    LT Principal      Provisional   -      -
                                       Protected Market  CRISIL PP-MLD
                                       Linked Debentures AA+r
(Provisional Rating Assigned)
Ravi Infrabuild Projects Pvt Ltd       CC                CRISIL        230    Reaffirmed
                                                         BBB+/Stable
Reliance Jio Infocomm Ltd              NCD               CRISIL        150000 Withdrawn
                                                         AAA/Stable
Reliance Jio Infocomm Ltd              NCD               CRISIL        50000  Withdrawn
                                                         AAA/Stable
Reliance Jio Infocomm Ltd              NCD               CRISIL        5000   Withdrawn
                                                         AAA/Stable
Reliance Jio Infocomm Ltd              NCD               CRISIL        100000 Withdrawn
                                                         AAA/Stable
Reliance Jio Infocomm Ltd              8.95% NCDs        CRISIL        20000  Withdrawn
                                                         AAA/Stable
(*Guaranteed by Reliance Industries Limited (RIL))
Rupal Infrastructure Pvt Ltd           CC                CRISIL        19     Reaffirmed
                                                         B+/Stable
Rupal Infrastructure Pvt Ltd           TL                CRISIL        50     Reaffirmed
                                                         B+/Stable
Shiv Sai Construction                  CC                CRISIL        42     Reaffirmed
                                                         BB/Stable
SKY Spintex Pvt Ltd                    CC                CRISIL        210    Reaffirmed
                                                         BBB-/Stable
SKY Spintex Pvt Ltd                    LT Loan           CRISIL        485.6  Reaffirmed
                                                         BBB-/Stable
SKY Spintex Pvt Ltd                    Proposed WC Fac   CRISIL        9.4    Reaffirmed
                                                         BBB-/Stable
SREI Equipment Finance Ltd             IIERT June 2018 II CRISIL A+     -      -
                                       - Series A PTCs
(Continues  on 'Rating Watch with Negative Implications')
SREI Equipment Finance Ltd             IIALRT-I Trust    CRISIL A+     -      -
                                       -Series A PTCs
(Continues  on 'Rating Watch with Negative Implications')
SREI Equipment Finance Ltd             IIERT Oct 2018 -  CRISIL A+     -      -
                                       II -Series A PTCs
(Continues  on 'Rating Watch with Negative Implications)
Sterlite Technologies Ltd              CC                CRISIL        9100   Reaffirmed
                                                         AA/Stable
Sterlite Technologies Ltd              LOC & BG          CRISIL        36740  Reaffirmed
                                                         AA/Stable
Sterlite Technologies Ltd              Proposed LT Bk    CRISIL        1160   Reaffirmed
                                       Loan Fac          AA/Stable
Sterlite Technologies Ltd              TL                CRISIL        2500   Reaffirmed
                                                         AA/Stable
Sterlite Technologies Ltd              NCD               CRISIL        3500   Assigned
                                                         AA/Stable
The Ramaraju Surgical Cotton Mills Ltd CC                CRISIL        1450   Reaffirmed
                                                         BBB+/Stable
The Ramaraju Surgical Cotton Mills Ltd Cash TL           CRISIL        683.4  Reaffirmed
                                                         BBB+/Stable
The Ramaraju Surgical Cotton Mills Ltd Corporate Loan    CRISIL        710.2  Reaffirmed
                                                         BBB+/Stable
The Ramaraju Surgical Cotton Mills Ltd Proposed LT Bk    CRISIL        18.5   Reaffirmed
                                       Loan Fac          BBB+/Stable
United Granites and Metals             CC                CRISIL        75     Reaffirmed
                                                         BB-/Stable
United Granites and Metals             LT Loan           CRISIL        81.3   Reaffirmed
                                                         BB-/Stable
United Granites and Metals             WC Demand Loan    CRISIL        31.5   Assigned
                                                         BB-/Stable
Varsa Plastic Industries Pvt Ltd       Bill Discounting  CRISIL        100    Reaffirmed
                                                         BBB-/Stable
Varsa Plastic Industries Pvt Ltd       CC                CRISIL        200    Reaffirmed
                                                         BBB-/Stable
Varsa Plastic Industries Pvt Ltd       LT Loan           CRISIL        256.5  Reaffirmed
                                                         BBB-/Stable
Yamuna Roller Flour Mills Pvt Ltd      CC                CRISIL        210    Reaffirmed
                                                         BBB+/Stable
Yamuna Roller Flour Mills Pvt Ltd    Warehouse Financing CRISIL        32     Reaffirmed
                                                         BBB+/Stable
--------------------------------------------------------------------------------------------
$: 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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