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CRISIL ratings for Indian debt instruments-Oct 16

Source : REUTERS
Last Updated: Tue, Oct 16, 2012 06:00 hrs

Oct 16 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India (CRISIL) for local debt instruments as of October 15, 2012. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT

(RS.MLN) ------ ---------- ------ ----- --------- SHORT TERM RATINGS: ------------------- Aarti Infra-Projects Pvt Ltd BG CRISIL A4 200 Reaffirmed Ambika Solvex Ltd LOC & BG CRISIL D 100 Downgraded

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CRISIL A4+ Ambika Solvex Ltd Packing Credit CRISIL D 520 Downgraded

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CRISIL A4+ Ambika Solvex Ltd BG CRISIL D 10 Downgraded

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CRISIL A4+ Ambika Solvex Ltd LOC CRISIL D 70 Downgraded

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CRISIL A4+ Apco Vehicles (India) Pvt Ltd Inventory Funding Fac CRISIL A4 45 Assigned Ardex Endura (India) Pvt Ltd BG CRISIL A2 10 Reaffirmed Ardex Endura (India) Pvt Ltd LOC CRISIL A2 10 Reaffirmed Centrodorstroy (India) Pvt Ltd BG CRISIL A4 2500 Downgraded

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CRISIL A3 Fuelco Coal (India) Ltd BG CRISIL A4+ 25 Reaffirmed Fuelco Coal (India) Ltd LOC CRISIL A4+ 475 Reaffirmed Enhanced from Rs.30 Million Halbit Avionics Pvt Ltd BG CRISIL A4+ 350 Assigned Infres Methodex Ltd BG CRISIL A2+ 150 Reaffirmed Infres Methodex Ltd LOC CRISIL A2+ 140 Reaffirmed J.U. Pesticides and Chemicals Pvt Ltd LOC CRISIL A3 150 Assigned JCBL Ltd BG CRISIL A4 250 Downgraded

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CRISIL A4+ JCBL Ltd Inland/Import LOC CRISIL A4 250 Downgraded

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CRISIL A4+ KGK Creations (India) Pvt Ltd Bill Discounting** CRISIL A3 150 Reaffirmed **Includes sub-limit of Rs.150.0 million of purchase invoice financing KGK Creations (India) Pvt Ltd ST Loan^ CRISIL A3 350 Reaffirmed ^Includes sub-limit of Rs.100.0 million of overdraft, Rs.350.0 million of local bill discounting, Rs.350.0 million of financial guarantees/standby letter of credit, Rs.350.0 million of purchase invoice financing facility and buyer's credit facility

KGK Creations Pvt Ltd Post-Shipment Credit* CRISIL A3 200 Reaffirmed *Includes sublimit of packing credit of Rs.100.0 million and bank guarantee of Rs.10.0 million KGK Diamonds (I) Pvt Ltd Post Shipment Credit* CRISIL A3 2940 Reaffirmed *Includes sub-limit for packing credit of Rs.1700.0 million KGK Diamonds (I) Pvt Ltd Post Shipment Credit# CRISIL A3 300 Reaffirmed #includes sub-limit for packing credit of Rs.150.0 million KGK Diamonds (I) Pvt Ltd Post Shipment Credit@ CRISIL A3 200 Reaffirmed @Includes sub-limit for packing credit of Rs.100.0 million KGK Diamonds (I) Pvt Ltd Post Shipment Credit**CRISIL A3 300 Reaffirmed **Includes sub-limit for packing credit Rs.120.0 million KGK Diamonds (I) Pvt Ltd Post Shipment Credit^ CRISIL A3 1000 Reaffirmed ^includes a sublimit of Packing Credit of Rs. 1000.0 Million. KGK Diamonds (I) Pvt Ltd BG CRISIL A3 10 Reaffirmed KGK Diamonds (I) Pvt Ltd BG$ CRISIL A3 50 Reaffirmed $fully interchangeable with Letter of Credit. KGK Diamonds (I) Pvt Ltd Proposed ST Bk Loan CRISIL A3 1610 Reaffirmed

Fac Linde Engineering India Pvt Ltd BG* CRISIL A1+ 1780 Reaffirmed *Interchangeable with letter of credit Narmada Bio-Chem Pvt Ltd Standby Line of CreditCRISIL A3 10 Reaffirmed P. K. Hospitality Services Pvt Ltd BG CRISIL A4+ 50 Placed on

Notice of

Withdrawal Prime Gold International Ltd LOC CRISIL A4+ 40 Reaffirmed Shakti Pumps (India) Ltd BG CRISIL A3 30 Reaffirmed Shakti Pumps (India) Ltd LOC CRISIL A3 220 Reaffirmed Shakti Pumps (India) Ltd Pre Shipment Finance CRISIL A3 100 Reaffirmed Sundaram BNP Paribas Home Finance Ltd ST Debt Programme CRISIL A1+ 3000 Reaffirmed Enhanced from Rs.1.0 Billion Superfil Products Ltd Bill Discounting CRISIL A3 40 Reaffirmed Superfil Products Ltd Buyer Credit Limit CRISIL A3 17.4 Reaffirmed Superfil Products Ltd Corporate Loan CRISIL A3 53.6 Reaffirmed Superfil Products Ltd LOC & BG CRISIL A3 174 Reaffirmed Uma Polymers Ltd LOC CRISIL A3+ 160 Reaffirmed Enhanced from Rs.50 Million Vardhman Industries Ltd LOC CRISIL A3+ 395 Reaffirmed VST Industries Ltd LOC & BG CRISIL A1+ 400 Reaffirmed MEDIUM TERM RATINGS: ------------------- Sundaram BNP Paribas Home Finance Ltd FD Programme FAA+ - Reaffirmed VST Industries Ltd FD FAAA - Reaffirmed LONG TERM RATINGS: ------------------- A. A. Estate Pvt Ltd CC CRISIL BB+ 700 Assigned Aarti Infra-Projects Pvt Ltd CC CRISIL B 150 Reaffirmed Aarti Infra-Projects Pvt Ltd Proposed LT Bk Loan CRISIL B 50 Reaffirmed

Fac Ambika Solvex Ltd Rupee TL CRISIL D 100 Downgraded

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CRISIL BB Anugraha Fashion Mill Pvt Ltd CC CRISIL D 33 Reaffirmed Anugraha Fashion Mill Pvt Ltd LT Loan CRISIL D 318.6 Reaffirmed Anugraha Fashion Mill Pvt Ltd Packing Credit CRISIL D 175 Reaffirmed Anugraha Fashion Mill Pvt Ltd Foreign Bill Purchase CRISIL D 100 Reaffirmed Apco Vehicles (India) Pvt Ltd CC CRISIL B 105 Assigned Ardex Endura (India) Pvt Ltd CC* CRISIL BBB+ 60 Reaffirmed *Includes Rs.60.00 Million sub limit of working capital demand loan Ardex Endura (India) Pvt Ltd Proposed TL CRISIL BBB+ 35.5 Reaffirmed Ardex Endura (India) Pvt Ltd TL** CRISIL BBB+ 60 Reaffirmed **Includes Rs.60.00 Million sub limit of letter of credit Capitol Hill Hotels Pvt Ltd Proposed LT Bk Loan CRISIL B 250 Assigned

Fac Centrodorstroy (India) Pvt Ltd CC CRISIL BB- 180 Downgraded

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CRISIL BBB- Centrodorstroy (India) Pvt Ltd LT Loan CRISIL BB- 17.5 Downgraded

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CRISIL BBB- Centrodorstroy (India) Pvt Ltd Proposed LT Bk Loan CRISIL BB- 52.5 Downgraded

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CRISIL BBB- D V S Steels and Alloys Pvt Ltd Buyer Credit Limit* CRISIL BB- 90 Reaffirmed * Interchangeability with cash credit limit D V S Steels and Alloys Pvt Ltd CC CRISIL BB- 50 Reaffirmed D V S Steels and Alloys Pvt Ltd Proposed LT Bk Loan CRISIL BB- 10 Reaffirmed

Fac Dinanath Resorts Pvt Ltd Proposed LT Bk Loan CRISIL B 22 Assigned

Fac Dinanath Resorts Pvt Ltd Proposed TL CRISIL B 228 Assigned Fuelco Coal (India) Ltd CC CRISIL BB+ 200 Reaffirmed Enhanced from Rs.90 Million Halbit Avionics Pvt Ltd Proposed TL CRISIL BB+ 500 Assigned Infres Methodex Ltd CC CRISIL BBB+ 10 Reaffirmed J.U. Pesticides and Chemicals Pvt Ltd CC CRISIL BBB- 100 Assigned JCBL Ltd CC CRISIL B+ 290 Downgraded

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CRISIL BB+ JCBL Ltd Proposed Rupee TL CRISIL B+ 12.5 Downgraded

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CRISIL BB+ JCBL Ltd Rupee TL CRISIL B+ 297.5 Downgraded

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CRISIL BB+ JSL Ispat Pvt Ltd CC CRISIL BB+ 98 Reaffirmed KGK Creations (India) Pvt Ltd CC* CRISIL BBB- 150 Reaffirmed *Includes a sub-limit of Rs. 50.0 million of standby letter of credit KGK Creations (India) Pvt Ltd CC# CRISIL BBB- 200 Reaffirmed #Includes sublimit of working capital demand loan of Rs.200.0 million, bank guarantee/standby letter of credit of Rs.200.0 million and buyer's credit of Rs.200.0 million

KGK Creations (India) Pvt Ltd Proposed LT Bk Loan CRISIL BBB- 200 Reaffirmed

Fac Kongunadu Educational Charitable Trust Proposed LT Bk Loan CRISIL B+ 37.9 Upgraded

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CRISIL B Kongunadu Educational Charitable Trust Rupee TL CRISIL B+ 82.1 Upgraded

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CRISIL B Linde Engineering India Pvt Ltd Overdraft Fac# CRISIL AA 1180 Reaffirmed #Interchangeable with short term loans Mukesh Industries Ltd Proposed LT Bk Loan CRISIL BBB- 110 Suspended

Fac Mukesh Industries Ltd Rupee TL CRISIL BBB- 39.5 Suspended Narmada Bio-Chem Pvt Ltd Rupee TL CRISIL BBB- 126.7 Reaffirmed Narmada Bio-Chem Pvt Ltd CC CRISIL BBB- 90 Reaffirmed Narmada Bio-Chem Pvt Ltd Proposed LT Bk Loan CRISIL BBB- 119.9 Reaffirmed

Fac P. K. Hospitality Services Pvt Ltd Overdraft Fac CRISIL BB- 80 Placed on

Notice of

Withdrawal P. K. Hospitality Services Pvt Ltd TL CRISIL BB- 104.1 Withdrawn P.E.S.Engineers Pvt Ltd CC CRISIL A- 97 Reaffirmed P.E.S.Engineers Pvt Ltd Proposed CC Limit CRISIL A- 101 Reaffirmed P.E.S.Engineers Pvt Ltd Secured Overdraft Fac CRISIL A- 120 Reaffirmed P.E.S.Engineers Pvt Ltd WC TL CRISIL A- 60 Reaffirmed Patny Systems Pvt Ltd CC CRISIL BBB- 12.5 Reaffirmed PMR Food Products Pvt Ltd CC CRISIL D 125 Reaffirmed PMR Food Products Pvt Ltd Rupee TL CRISIL D 120 Reaffirmed Popular Motor Corporation CC CRISIL BBB 99.9 Suspended Prime Bond Industries CC CRISIL BB 40 Reaffirmed Prime Gold International Ltd CC CRISIL BB 135 Reaffirmed Prime Gold International Ltd TL CRISIL BB 15 Reaffirmed Sagar Business Pvt Ltd CC CRISIL BB- 120 Reaffirmed Sai Balaji Sponge Iron India Pvt Ltd LT Loan CRISIL D 198 Reaffirmed Sai Balaji Sponge Iron India Pvt Ltd CC CRISIL D 60 Reaffirmed Sai Balaji Sponge Iron India Pvt Ltd LOC CRISIL D 50 Reaffirmed Sarat Chatterjee & Co (Visakhapatnam) CC CRISIL A+ 125 Reaffirmed Pvt Ltd School of Management Sciences Overdraft Fac CRISIL BBB+ 100 Reaffirmed School of Management Sciences TL CRISIL BBB+ 13.5 Reaffirmed School of Management Sciences Proposed Long- Term CRISIL BBB+ 25.2 Reaffirmed

Bk Loan Fac Shakti Pumps (India) Ltd CC CRISIL BBB- 562.5 Reaffirmed Shakti Pumps (India) Ltd External Commercial CRISIL BBB- 199 Reaffirmed

Borrowings Shakti Pumps (India) Ltd Rupee TL CRISIL BBB- 171 Reaffirmed Shyam Indus Power Solutions Pvt Ltd CC CRISIL BBB- 450 Reaffirmed Shyam Indus Power Solutions Pvt Ltd Overdraft Fac CRISIL BBB- 50 Reaffirmed Sona Textiles Pvt Ltd CC CRISIL BBB- 240 Reaffirmed Enhanced from Rs.220.00 Million Sreelekshmi Cashew Company CC CRISIL BBB- 5 Suspended Sri Laxmi Enterprises CC CRISIL B+ 70 Reaffirmed Sri Laxmi Enterprises Proposed LT Bk Loan CRISIL B+ 7.5 Reaffirmed

Fac Sri Laxmi Enterprises TL CRISIL B+ 7.5 Reaffirmed Srinath Metal Pvt Ltd LT Loan CRISIL B+ 117.5 Reaffirmed Superfil Products Ltd CC CRISIL BBB- 120 Reaffirmed Superfil Products Ltd LT Loan CRISIL BBB- 85 Reaffirmed Superfil Products Ltd Proposed LT Bk Loan CRISIL BBB- 10 Reaffirmed

Fac Supreme Wood Products Pvt Ltd CC CRISIL BBB- 60 Suspended Supreme Wood Products Pvt Ltd Proposed LT Bk Loan CRISIL BBB- 8 Suspended

Fac Suraj Industries CC CRISIL BBB+ 69 Suspended Suraj Industries Rupee TL CRISIL BBB+ 90.7 Suspended Surendra Mining Industries Pvt Ltd Proposed LT Bk Loan CRISIL BBB- 48 Assigned

Fac Surendra Mining Industries Pvt Ltd TL CRISIL BBB- 760 Assigned Uma Polymers Ltd CC CRISIL BBB 200 Reaffirmed Enhanced from Rs.125 Million Uma Polymers Ltd LT Loan CRISIL BBB 138 Reaffirmed Enhanced from Rs.39.9 Million Umax Packaging Ltd CC CRISIL BBB 200 Reaffirmed Umax Packaging Ltd TL CRISIL BBB 420 Reaffirmed Vaibhav Fitting India Pvt Ltd TL CRISIL B 42.5 Assigned Vaibhav Fitting India Pvt Ltd Proposed LT Bk Loan CRISIL B 22.5 Assigned

Fac Vaibhav Fitting India Pvt Ltd CC CRISIL B 20 Assigned Vallabh Tinplate Pvt Ltd CC CRISIL BB+ 205 Reaffirmed Vallabh Tinplate Pvt Ltd Proposed LT Bk Loan CRISIL BB+ 152.3 Reaffirmed

Fac Vallabh Tinplate Pvt Ltd LT Loan CRISIL BB+ 592.7 Reaffirmed Vardhman Industries Ltd CC CRISIL BBB 631.5 Reaffirmed Vardhman Industries Ltd LT Loan CRISIL BBB 606.9 Reaffirmed Vardhman Industries Ltd Proposed LT Bk Loan CRISIL BBB 166.6 Reaffirmed

Fac Vardhman Industries Ltd NCD CRISIL BBB 50 Reaffirmed Vasanth & Co CC CRISIL A- 150 Reaffirmed Venshiv Pharmachem Pvt Ltd CC CRISIL B- 12 Assigned Venshiv Pharmachem Pvt Ltd LT Loan CRISIL B- 49 Assigned Veronica Marine Exports Pvt Ltd LT Loan CRISIL B- 24.4 Upgraded

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CRISIL C Vihaan Boards Pvt Ltd TL * CRISIL B+ 132.5 Assigned * Includes sub limit for one time LC of Rs 57.3 million Vihaan Boards Pvt Ltd CC CRISIL B+ 50.1 Assigned Vihaan Boards Pvt Ltd Proposed LT Bk Loan CRISIL B+ 7.4 Assigned

Fac VST Industries Ltd NCD CRISIL AA+ 150 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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