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CRISIL ratings for Indian debt instruments-May 21

Source : REUTERS
Last Updated: Tue, May 21, 2013 07:20 hrs

May 21 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India (CRISIL) for local debt instruments as of May 20, 2013. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT

(RS.MLN) ------ ---------- ------ ----- --------- SHORT TERM RATINGS: ------------------- Footwear (Klick) India Pvt Ltd LOC CRISIL A3+ 40 Upgraded from

CRISIL A3 Footwear (Klick) India Pvt Ltd Proposed ST Bk CRISIL A3+ 3 Upgraded from

Loan Fac CRISIL A3 Hardware Trading Corporation LOC CRISIL A4+ 120 Suspended Hardware Trading Corporation Proposed LOC CRISIL A4+ 80 Suspended Incom Wires and Cables Ltd LOC CRISIL A4 24 Assigned Incom Wires and Cables Ltd BG CRISIL A4 6 Assigned Janalakshmi Financial Services Pvt LtdST Loan CRISIL A3 150 Reaffirmed Larsen & Toubro Ltd ST Debt Programme CRISIL A1+ 25000 Reaffirmed Leighton Welspun Contractors Pvt Ltd BG CRISIL A1 6200 Rating Watch

with Negative

Implications Leighton Welspun Contractors Pvt Ltd Proposed Non-FB CRISIL A1 16630 Rating Watch

limits with Negative

Implications Lucas Indian Service Ltd BG# CRISIL A1+ 100 Reaffirmed # Interchangeable with Letter of Credit of up to Rs.50 million Lucas Indian Service Ltd Bill Discounting CRISIL A1+ 350 Reaffirmed Lucas Indian Service Ltd LOC^ CRISIL A1+ 100 Reaffirmed ^ Interchangeable with Bank Guarantee Lucas Indian Service Ltd CP Programme CRISIL A1+ 50 Reaffirmed Maa Durga Enterprises (P) Ltd LOC CRISIL A4+ 30 Suspended Mili Steels Pvt Ltd LOC CRISIL A4+ 50 Suspended Presidency Exports & Industries Ltd BG CRISIL A4 10 Reaffirmed Presidency Exports & Industries Ltd Foreign Bill CRISIL A4 80 Reaffirmed

Negotiation Presidency Exports & Industries Ltd Inland/Import LOC CRISIL A4 5 Reaffirmed Presidency Exports & Industries Ltd Packing Credit CRISIL A4 150 Reaffirmed Pride Hotels Ltd BG CRISIL A3+ 20 Reaffirmed Pride Hotels Ltd Overdraft Fac CRISIL A3+ 129.2 Reaffirmed R.A. Exports Foreign Bill CRISIL A4 20 Assigned

Discounting R.A. Exports Export Packing CRISIL A4 30 Assigned

Credit Skipper Electricals (India) Ltd Packing Credit CRISIL A3+ 150 Upgraded from

CRISIL A3 Skipper Electricals (India) Ltd BG* CRISIL A3+ 660 Upgraded from

CRISIL A3 *Fully interchangeable with Letter of Credit Sri Venkatesh Granites Pvt Ltd Foreign DiscountingCRISIL A4 50 Upgraded from

CRISIL D Sri Venkatesh Granites Pvt Ltd Packing Credit CRISIL A4 60 Upgraded from

CRISIL D Taneja Developers and Infrastructure LOverdraft Fac CRISIL A4 387.6 Reaffirmed Tata Sons Ltd CP CRISIL A1+ 26250 Reaffirmed Vico Forge Pvt Ltd LOC CRISIL A4 40 Assigned Vico Forge Pvt Ltd BG CRISIL A4 5 Assigned West Coast Ingots Pvt Ltd BG CRISIL A4 20 Suspended West Coast Ingots Pvt Ltd LOC CRISIL A4 60 Suspended MEDIUM TERM RATINGS: ------------------- Larsen & Toubro Ltd FD Programme FAAA Reaffirmed LONG TERM RATINGS: ------------------- Building Blocks Projects India Pvt LtdProposed LT Bk CRISIL BB 100 Assigned

Loan Fac Footwear (Klick) India Pvt Ltd CC CRISIL BBB 180 Upgraded from

CRISIL BBB- Footwear (Klick) India Pvt Ltd Proposed LT Bk CRISIL BBB 1 Upgraded from

Loan Fac CRISIL BBB- Footwear (Klick) India Pvt Ltd Standby Line of CRISIL BBB 33 Upgraded from

Credit CRISIL BBB- Hardware Trading Corporation CC CRISIL BB 25 Suspended Incom Wires and Cables Ltd Proposed LT Bk CRISIL B 10 Assigned

Loan Fac Incom Wires and Cables Ltd CC CRISIL B 30 Assigned Janalakshmi Financial Services Pvt LtdTL CRISIL BBB- 400 Reaffirmed Janalakshmi Financial Services Pvt LtdProposed LT Bk CRISIL BBB- 1950 Reaffirmed

Loan Fac Janalakshmi Financial Services Pvt LtdNCDs* CRISIL BBB- 650 Assigned *The common independent director on the boards of CRISIL and Janalakshmi Financial Services Pvt Ltd did not participate in the rating committee meeting and rating process for this instrument. Janalakshmi Financial Services Pvt LtdNCDs* CRISIL BBB- 280 Reaffirmed *The common independent director on the boards of CRISIL and Janalakshmi Financial Services Pvt Ltd did not participate in the rating committee meeting and rating process for this instrument. Janalakshmi Financial Services Pvt LtdNCDs* CRISIL BBB- 300 Reaffirmed *The common independent director on the boards of CRISIL and Janalakshmi Financial Services Pvt Ltd did not participate in the rating committee meeting and rating process for this instrument. Janalakshmi Financial Services Pvt LtdNCDs* CRISIL BBB- 250 Reaffirmed *The common independent director on the boards of CRISIL and Janalakshmi Financial Services Pvt Ltd did not participate in the rating committee meeting and rating process for this instrument. Keyem Engineering Enterprises BG CRISIL D 50 Suspended Keyem Engineering Enterprises CC CRISIL D 85 Suspended Keyem Engineering Enterprises LOC CRISIL D 15 Suspended Kissan Agro Industries CC CRISIL B 60 Assigned Kissan Agro Industries TL CRISIL B 37.5 Assigned Larsen & Toubro Ltd LT Bk Fac CRISIL AAA 500 Reaffirmed Larsen & Toubro Ltd Proposed LT Bk Fac CRISIL AAA 110 Reaffirmed Larsen & Toubro Ltd Inflation-Linked CRISIL AAA 1000 Assigned

Capital-Indexed

NCDs Larsen & Toubro Ltd NCDs CRISIL AAA 27250 Reaffirmed Leighton Welspun Contractors Pvt Ltd BG* CRISIL A+ 1514 @ *This facility is a bank guarantee of Rs.1.51 billion and is interchangeable with the following facilities subject to fund-based facility sub-limits of Rs.0.3 billion: 1) Financial Guarantee/standby Letter of Credit of Rs.0.27 billion 2)Short term Loan of Rs.0.20 billion 3) Overdraft of Rs.0.30 billion Leighton Welspun Contractors Pvt Ltd BG** CRISIL A+ 3109 @ **This facility is a bank guarantee of Rs.3.10 billion and is interchangeable with the following facilities subject to fund-based facility sub-limits of Rs.0.3 billion: 1) Short term Loan of Rs.0.20 billion 2) Overdraft of Rs.0.30 billion Leighton Welspun Contractors Pvt Ltd BG*** CRISIL A+ 1100 Rating Watch

with Negative

Implications -***This is a working capital facility, which is interchangeable with the following facilities subject to sub limits of 1) Bank guarantee of Rs.1.10 billion 2) Guarantee-open ended of Rs.0.65 billion 3) Working capital loan of Rs.1.10 billion with an overdraft sublimit of Rs.0.05 billion 4) Import documentary credit of Rs.1.10 billion 5) Import deferred payment credit & Buyers Credit of Rs.1.10 billion Leighton Welspun Contractors Pvt Ltd BG CRISIL A+ 4000 @ Leighton Welspun Contractors Pvt Ltd CC# CRISIL A+ 300 @ #Interchangeable with bank guarantee Leighton Welspun Contractors Pvt Ltd Overdraft Fac^ CRISIL A+ 250 @ ^Interchangeable with non-fund based facilities. Leighton Welspun Contractors Pvt Ltd Proposed LT Bk CRISIL A+ 977 @

Loan Fac Leighton Welspun Contractors Pvt Ltd TL CRISIL A+ 920 @ Lucas Indian Service Ltd CC* CRISIL AA 160 Reaffirmed * Interchangeable with Working Capital Demand Loan of up to Rs.60 million Maa Durga Enterprises (P) Ltd CC CRISIL BB- 30 Suspended Mallikarjuna Parboiled Binny Rice MillCC CRISIL B+ 37.5 Suspended Mallikarjuna Parboiled Binny Rice MillLT Loan CRISIL B+ 13 Suspended Mallikarjuna Parboiled Binny Rice MillPledge Loan CRISIL B+ 15 Suspended Mallikarjuna Parboiled Binny Rice MillStandby Line of CRISIL B+ 2.5 Suspended

Credit Marutinandan Ginning & Pressing FactorCC CRISIL B 60 Reaffirmed Marutinandan Ginning & Pressing FactorProposed LT Bk CRISIL B 5 Reaffirmed

Loan Fac Mili Steels Pvt Ltd CC* CRISIL BB- 140 Suspended * interchangeable with WCDL to the extent of Rs.120.0 Million Mohit Ispat Ltd BG CRISIL D 35 Suspended Mohit Ispat Ltd CC CRISIL D 90 Suspended Mohit Ispat Ltd LOC CRISIL D 40 Suspended Mohit Ispat Ltd Rupee TL CRISIL D 86 Suspended PPR Hoteliers Pvt Ltd TL CRISIL D 100 Reaffirmed Pride Hotels Ltd CC CRISIL BBB 160 Reaffirmed Pride Hotels Ltd Proposed LT Bk CRISIL BBB 0.8 Reaffirmed

Loan Fac Pride Hotels Ltd TL CRISIL BBB 1680 Reaffirmed R.A. Exports LT Loan CRISIL B+ 4 Assigned R.A. Exports CC CRISIL B+ 25 Assigned SCG Industries Pvt Ltd CC CRISIL BBB 80 Upgraded from

CRISIL BBB- SCG Industries Pvt Ltd Proposed LT Bk CRISIL BBB 1.1 Upgraded from

Loan Fac CRISIL BBB- SCG Industries Pvt Ltd Standby Line of CRISIL BBB 12 Upgraded from

Credit CRISIL BBB- Shivam Masala Pvt Ltd CC CRISIL BB 90 Assigned Shivam Masala Pvt Ltd Proposed LT Bk CRISIL BB 7.5 Assigned

Loan Fac Shri Venkateshwara Corporation TL CRISIL B+ 13.5 Assigned Shri Venkateshwara Corporation Proposed TL CRISIL B+ 6.5 Assigned Shri Venkateshwara Corporation CC CRISIL B+ 30 Assigned Shri Venkateshwara Corporation Proposed CC Limit CRISIL B+ 30 Assigned Skipper Electricals (India) Ltd CC CRISIL BBB 80 Upgraded from

CRISIL BBB- Skipper Electricals (India) Ltd Proposed LT Bk CRISIL BBB 377 Upgraded from

Loan Fac CRISIL BBB- Sri Venkatesh Granites Pvt Ltd Hire Purchase Loan CRISIL B+ 27.3 Assigned Sri Venkatesh Granites Pvt Ltd Proposed LT Bk CRISIL B+ 72.7 Assigned

Loan Fac Taneja Developers and Infrastructure LProposed LT Bk CRISIL B- 122.1 Upgraded from

Loan Fac CRISIL C Taneja Developers and Infrastructure LTL CRISIL B- 740.3 Upgraded from

CRISIL C Tata Sons Ltd Overdraft Fac CRISIL AAA 500 Reaffirmed Tata Sons Ltd NCDs CRISIL AAA 1750 Assigned Tata Sons Ltd NCDs Issues CRISIL AAA 159620 Reaffirmed (Reduced from Rs.174.28 Billion) Tata Sons Ltd FD FAAA Reaffirmed The Krishna District Lorry Owners CC CRISIL BB+ 80 Reaffirmed Mutually Aided Co-Operative Stores Ltd Vico Forge Pvt Ltd TL CRISIL B- 35 Assigned Vico Forge Pvt Ltd Proposed LT Bk CRISIL B- 54.9 Assigned

Loan Fac Vico Forge Pvt Ltd CC CRISIL B- 65 Assigned West Coast Ingots Pvt Ltd CC CRISIL B- 35 Suspended -------------------------------------------------------------------------------------------- $: 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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