CRISIL ratings for Indian debt instruments-Jan 12

Last Updated: Thu, Jan 12, 2017 10:00 hrs

Jan 12 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India (CRISIL) for local debt instruments as of January 11, 2017. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ----- --------- SHORT TERM RATINGS: ------------------- Arjan Impex Pvt Ltd Packing Credit in CRISIL A4+ 430 Reaffirmed Foreign Currency Baazar Retail Ltd BG CRISIL A2+ 2.5 Reaffirmed Chenduran Cotspin India Pvt Ltd BG CRISIL A4+ 8.5 Assigned Chenduran Cotspin India Pvt Ltd LOC CRISIL A4+ 85 Assigned D. D. Enterprises (Pune) BG CRISIL A4+ 95 Reaffirmed D. D. Enterprises (Pune) Proposed BG CRISIL A4+ 105 Reaffirmed DF Power Systems Pvt Ltd LOC* CRISIL A3+ 430 Downgraded from CRISIL A2 *fully interchangeable with bank guarantee Fresco Plus Ceramic Pvt Ltd BG CRISIL A4 5 Reaffirmed Himatsingka Seide Ltd BG CRISIL A2+ 55 Reaffirmed Himatsingka Seide Ltd Export Finance CRISIL A2+ 1000 Reaffirmed Limit* *Interchangeable with bills discounting and export factoring Himatsingka Seide Ltd LOC CRISIL A2+ 1940 Reaffirmed Himatsingka Seide Ltd Packing Credit# CRISIL A2+ 1550 Reaffirmed #Interchangeable with bills discounting Kaka Carpets Export Packing CRISIL A4+ 35 Reaffirmed Credit Kaka Carpets Foreign Bill CRISIL A4+ 50 Reaffirmed Purchase Kaka Carpets Proposed ST Bk CRISIL A4+ 50 Reaffirmed Loan Fac Leader Valves Ltd LOC & BG CRISIL A3 150 Downgraded from CRISIL A3+ Microfinish Valves Pvt Ltd BG** CRISIL A4+ 200 Downgraded from CRISIL A3 **Interchangeable with foreign letter of credit. Microfinish Valves Pvt Ltd Packing Credit CRISIL A4+ 50 Downgraded from CRISIL A3 Pee Vee Textiles Ltd BG CRISIL A2 200 Reaffirmed Pee Vee Textiles Ltd LOC CRISIL A2 200 Reaffirmed Plastiblends India Ltd LOC^ CRISIL A1 200 Reaffirmed ^Interchangeable with buyer's credit Plastiblends India Ltd LOC & BG CRISIL A1 46 Reaffirmed Shri Sai Construction Co. Proposed BG CRISIL A4+ 71 Assigned Shri Sai Construction Co. BG CRISIL A4+ 80 Assigned Simms Engineering Pvt Ltd BG CRISIL A4+ 67.5 Reaffirmed Simms Engineering Pvt Ltd Bill CRISIL A4+ 45 Reaffirmed Pur-Discounting Fac Sterling India Inland/Import LOC CRISIL A4+ 90 Reaffirmed Surya Shakti Vessels Pvt Ltd LOC CRISIL A3 20 Assigned Surya Shakti Vessels Pvt Ltd BG CRISIL A3 20 Assigned TD Power Systems Ltd BG CRISIL A1 1080 Reaffirmed TD Power Systems Ltd BG$ CRISIL A1 150 Reaffirmed $ Fully interchangeable with letter of credit TD Power Systems Ltd LOC CRISIL A1 350 Reaffirmed Texmo Pipes and Products Ltd BG CRISIL A4+ 120.8 Reaffirmed Texmo Pipes and Products Ltd LOC CRISIL A4+ 340 Reaffirmed Vinayak Polymers Inc. LOC CRISIL A4 50 Reaffirmed Yash Poly Industries Pvt Ltd BG CRISIL A4+ 0.5 Reaffirmed LONG TERM RATINGS: ------------------- Arjan Impex Pvt Ltd LT Loan CRISIL BB 90 Reaffirmed Arjan Impex Pvt Ltd Proposed WC Fac CRISIL BB 10 Assigned Asian Multiplexes Pvt Ltd LT Loan CRISIL BB+ 50 Upgraded from CRISIL BB Asian Multiplexes Pvt Ltd Overdraft CRISIL BB+ 25 Upgraded from CRISIL BB Baazar Retail Ltd CC CRISIL A- 400.5 Reaffirmed Chenduran Cotspin India Pvt Ltd Proposed WC Fac CRISIL BB+ 5.9 Assigned Chenduran Cotspin India Pvt Ltd LT Loan CRISIL BB+ 77.6 Assigned Chenduran Cotspin India Pvt Ltd External CRISIL BB+ 18 Assigned Commercial Borrowings Chenduran Cotspin India Pvt Ltd CC CRISIL BB+ 215 Assigned D. D. Enterprises (Pune) CC CRISIL BB 50 Reaffirmed D. D. Enterprises (Pune) Proposed CC Limit CRISIL BB 50 Reaffirmed DF Power Systems Pvt Ltd CC - 30 Downgraded from CRISIL BBB+ / Withdrawn DF Power Systems Pvt Ltd LOC - 500 Downgraded from CRISIL BBB+ / Withdrawn Fresco Plus Ceramic Pvt Ltd CC CRISIL B 22.5 Reaffirmed Fresco Plus Ceramic Pvt Ltd Proposed TL CRISIL B 37.5 Reaffirmed Fresco Plus Ceramic Pvt Ltd TL CRISIL B 60 Reaffirmed GMP Weaving Mills Pvt Ltd CC CRISIL B+ 10 Assigned GMP Weaving Mills Pvt Ltd LT Loan CRISIL B+ 164 Assigned Grover Agro Food Pvt Ltd TL CRISIL B 52 Assigned Himatsingka Seide Ltd Proposed WC Fac CRISIL A- 116.1 Reaffirmed Himatsingka Seide Ltd TL CRISIL A- 11150.2 Reaffirmed Himatsingka Seide Ltd WC Fac CRISIL A- 450 Reaffirmed Kaka Carpets Standby Line of CRISIL BB 15 Reaffirmed Credit Leader Valves Ltd CC CRISIL BBB- 120 Downgraded from CRISIL BBB Microfinish Valves Pvt Ltd CC/ Overdraft Fac CRISIL BB+ 400 Downgraded from CRISIL BBB- Microfinish Valves Pvt Ltd Foreign Bill CRISIL BB+ 50 Downgraded Discounting* from CRISIL BBB- *Interchangeable with foreign bill exchange. Microfinish Valves Pvt Ltd TL CRISIL BB+ 290 Downgraded from CRISIL BBB- Pee Vee Textiles Ltd CC CRISIL BBB+ 800 Reaffirmed Pee Vee Textiles Ltd Standby LOC CRISIL BBB+ 100 Reaffirmed Pee Vee Textiles Ltd TL CRISIL BBB+ 2850 Reaffirmed Plastiblends India Ltd CC* CRISIL A+ 210 Reaffirmed *Interchangeable with packing credit, buyer's credit, post-shipment credit in foreign currency, working capital demand loan, and export bill discounting. Plastiblends India Ltd Packing Credit** CRISIL A+ 700 Reaffirmed **Interchangeable with cash credit, export bill discounting, buyer's credit, post-shipment in foreign currency, and working capital demand loan. Plastiblends India Ltd Proposed FB Bk CRISIL A+ 4 Reaffirmed Limits Rathna Stores Firm Purasai CC CRISIL B 75 Assigned Rathna Stores Firm Purasai TL CRISIL B 25 Assigned Shri Sai Construction Co. Overdraft CRISIL BB 10 Assigned Simms Engineering Pvt Ltd Bill Discounting CRISIL BB 30 Reaffirmed Simms Engineering Pvt Ltd CC CRISIL BB 75 Reaffirmed Simms Engineering Pvt Ltd Proposed LT Bk CRISIL BB 5.9 Reaffirmed Loan Fac Simms Engineering Pvt Ltd TL CRISIL BB 0.8 Reaffirmed Sterling India CC CRISIL BB+ 40 Reaffirmed Sterling India Proposed LT Bk CRISIL BB+ 50 Reaffirmed Loan Fac Surya Shakti Vessels Pvt Ltd Proposed FB Bk CRISIL BBB- 10 Assigned Limits Surya Shakti Vessels Pvt Ltd CC CRISIL BBB- 130 Assigned TD Power Systems Ltd CC* CRISIL A- 700 Reaffirmed *Includes sublimit of Rs.10 crore for packing credit and Rs.5 crore for inland bill discounting under letter of credit. TD Power Systems Ltd CC# CRISIL A- 50 Reaffirmed # Fully interchangeable with short-term loan Texmo Pipes and Products Ltd CC CRISIL BB+ 460 Reaffirmed Texmo Pipes and Products Ltd Standby Line of CRISIL BB+ 30 Reaffirmed Credit Texmo Pipes and Products Ltd TL CRISIL BB+ 49.2 Reaffirmed Vinayak Polymers Inc. CC CRISIL B+ 200 Reaffirmed Yash Poly Industries Pvt Ltd CC CRISIL BB 100 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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