CRISIL ratings for Indian debt instruments-Oct 19

Source : REUTERS
Last Updated: Wed, Oct 19, 2016 12:00 hrs

Oct 19 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India (CRISIL) for local debt instruments as of October 18, 2016. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ----- --------- SHORT TERM RATINGS: ------------------- Alcora Ceramic BG CRISIL A4 7 Suspended Amrut Distilleries Pvt Ltd LOC & BG CRISIL A2 50 Suspended Arora Textiles Pvt Ltd Overdraft Fac CRISIL A4+ 6 Reaffirmed Arun Engineering Projects Pvt Ltd BG CRISIL A4 150 Reaffirmed B.S.R. Builders Engineers and Overdraft Fac CRISIL A4 45 Upgraded from Contractors CRISIL D Bhabani Pigments Pvt Ltd BG CRISIL A2+ 3 Upgraded from CRISIL A2 Bhabani Pigments Pvt Ltd LOC CRISIL A2+ 30 Upgraded from CRISIL A2 Essal Infrastructure Pvt Ltd BG CRISIL A4+ 170 Reaffirmed Flowtech Industries LLP BG CRISIL A4 150 Reaffirmed Flowtech Industries LLP LOC CRISIL A4 120 Reaffirmed Ganges Internationale Pvt Ltd BG CRISIL A4+ 250 Suspended Ganges Internationale Pvt Ltd LOC CRISIL A4+ 7.2 Suspended Garg Villas Pvt Ltd BG CRISIL A4 115 Assigned GNA Axles Ltd BG CRISIL A2 5 Suspended GNA Axles Ltd LOC CRISIL A2 100 Suspended HF Metal Art Pvt. Ltd BG CRISIL A4+ 70 Reaffirmed HYT Inovative Projects Pvt Ltd BG CRISIL A4 110 Reaffirmed Jayashree Electron Pvt Ltd BG CRISIL A4+ 20 Suspended Jayashree Electron Pvt Ltd LOC CRISIL A4+ 5 Suspended KLSR Infratech Ltd BG CRISIL A3 1225 Reaffirmed KUN Motor Company Pvt Ltd BG CRISIL A2 90 Reaffirmed Madan Trading Co Pvt Ltd Bill Discounting CRISIL A4+ 110 Suspended Madan Trading Co Pvt Ltd Packing Credit CRISIL A4+ 90 Suspended Mangal Trading Company BG CRISIL A4+ 65 Reaffirmed Maverick Holdings and Investments Pvt BG CRISIL A4+ 150 Reaffirmed Ltd Metro Decoratives Pvt Ltd LOC CRISIL A4+ 30 Suspended MJR Constructions Pvt Ltd BG CRISIL A4 85 Reaffirmed MJR Constructions Pvt Ltd Proposed ST Bk CRISIL A4 65 Reaffirmed Loan Fac MT Educare Ltd Overdraft Fac CRISIL A1 50 Reaffirmed MT Educare Ltd ST Loan CRISIL A1 350 Reaffirmed NAC Jewellers Pvt Ltd Standby Line of CRISIL A3 1000 Upgraded from Credit CRISIL A4+ Naya Infrastructure Pvt Ltd Proposed LOC CRISIL A4 150 Assigned Naya Infrastructure Pvt Ltd BG CRISIL A4 150 Reaffirmed Naya Infrastructure Pvt Ltd LOC CRISIL A4 120 Reaffirmed Neelkanth Rubber Mills LOC CRISIL A4 90 Suspended Neelkanth Rubber Mills Packing Credit CRISIL A4 10 Suspended Pee Vee Textiles Ltd BG CRISIL A2 200 Reaffirmed Pee Vee Textiles Ltd LOC CRISIL A2 200 Reaffirmed Pro-Arc Welding and Cutting Systems Pvt LOC & BG CRISIL A4 30 Reaffirmed Ltd R R Trends Pvt Ltd Packing Credit CRISIL A4+ 80 Assigned Rodium Realty Ltd BG CRISIL A4+ 60 Reaffirmed Sasi Anand Spinning Mills (India) Pvt BG CRISIL A3 10 Reaffirmed Ltd Sharma Orthopedic (India) Pvt Ltd Packing Credit in CRISIL A4+ 22.5 Assigned Foreign Currency Shivam Iron and Steel Co. Ltd BG CRISIL A4 59 Reaffirmed Shivam Iron and Steel Co. Ltd LOC CRISIL A4 300 Reaffirmed Sinewave Generators Pvt Ltd BG CRISIL A3 40 Reaffirmed SRC Projects Pvt Ltd BG CRISIL A4+ 250 Reaffirmed State Bank of India CD Programme CRISIL A1+ 2400 Reaffirmed Stelco Ltd LOC & BG CRISIL A3+ 100 Suspended Sunrise Industries India Ltd BG CRISIL A4 40 Reaffirmed Sunrise Industries India Ltd Packing Credit CRISIL A4 50 Reaffirmed Tata Motors Finance Ltd BG CRISIL A1+ 7.1 Reaffirmed Tata Motors Finance Ltd Proposed BG CRISIL A1+ 5.75 Reaffirmed Technoline Engineering BG CRISIL A4 23 Reaffirmed United Polyfab Pvt Ltd BG CRISIL A3 5 Suspended Varun Motors (Parbhani) BG CRISIL A4+ 70 Suspended Varun Motors (Parbhani) Proposed ST Bk CRISIL A4+ 20 Suspended Loan Fac Wallace Pharmaceuticals Pvt Ltd BG CRISIL A3+ 5 Suspended Wallace Pharmaceuticals Pvt Ltd LOC CRISIL A3+ 10 Suspended Watertec India Pvt Ltd Buyer Credit Limit CRISIL A1 100 Assigned Zenith Industrial Rubber Products Pvt BG CRISIL A3+ 10 Reaffirmed Ltd Zenith Industrial Rubber Products Pvt Export Packing CRISIL A3+ 320 Reaffirmed Ltd Credit & Export Bills Negotiation/Foreign Bill discounting Zenith Industrial Rubber Products Pvt LOC CRISIL A3+ 90 Reaffirmed Ltd Zenith Industrial Rubber Products Pvt Standby Line of CRISIL A3+ 64 Reaffirmed Ltd Credit MEDIUM TERM RATINGS: ------------------- State Bank of India FD Programme# FAAA - Reaffirmed #The rating pertains only to State Bank of Indore's (SBoI's) fixed deposit programme, rated by CRISIL, which has been transferred to State Bank of India (SBI) LONG TERM RATINGS: ------------------- Alankar Auto Sales and Service Pvt Ltd CC CRISIL BBB- 150 Upgraded from CRISIL BB+ Alankar Auto Sales and Service Pvt Ltd Inventory Funding CRISIL BBB- 152.9 Upgraded from Fac CRISIL BB+ Alankar Auto Sales and Service Pvt Ltd TL CRISIL BBB- 7.1 Upgraded from CRISIL BB+ Alcora Ceramic CC CRISIL B+ 25 Suspended Alcora Ceramic TL CRISIL B+ 27.1 Suspended Al-Sana Agro Food Products Pvt Ltd CC CRISIL BB+ 160 Suspended Amrut Distilleries Pvt Ltd CC CRISIL BBB 900 Suspended Arora Textiles Pvt Ltd Buyer Credit Limit CRISIL BB 40 Upgraded from CRISIL BB- Arora Textiles Pvt Ltd CC CRISIL BB 44 Upgraded from CRISIL BB- Arora Textiles Pvt Ltd LT Loan CRISIL BB 45 Upgraded from CRISIL BB- Arora Textiles Pvt Ltd Overdraft Fac CRISIL BB 31.5 Upgraded from CRISIL BB- Artifacts India Export Packing CRISIL BB 80 Suspended Credit Artifacts India Proposed LT Bk CRISIL BB 2 Suspended Loan Fac Artifacts India TL CRISIL BB 38 Suspended Arun Engineering Projects Pvt Ltd CC CRISIL B 66 Reaffirmed Arun Engineering Projects Pvt Ltd Proposed LT Bk CRISIL B 34 Reaffirmed Loan Fac B.S.R. Builders Engineers and TL CRISIL B- 100 Upgraded from Contractors CRISIL D Bhabani Pigments Pvt Ltd CC CRISIL BBB+ 175 Reaffirmed Bhabani Pigments Pvt Ltd Foreign LOC CRISIL BBB+ 0.4 Reaffirmed Bhabani Pigments Pvt Ltd Rupee TL CRISIL BBB+ 5 Reaffirmed C. M. Industries CC CRISIL B 50 Reaffirmed Delhi Diamonds Pvt Ltd CC CRISIL D 500 Suspended Delhi Diamonds Pvt Ltd Proposed LT Bk CRISIL D 100 Suspended Loan Fac DSL Hydrowatt Pvt Ltd Proposed LT Bk CRISIL BBB- 123.3 Reaffirmed Loan Fac DSL Hydrowatt Pvt Ltd TL CRISIL BBB- 36.7 Reaffirmed ESS Ell Cables Company CC CRISIL B 120 Reaffirmed Essal Infrastructure Pvt Ltd CC CRISIL BB- 60 Reaffirmed Eurasian Minerals and Enterprises Pvt CC CRISIL BB- 30 Suspended Ltd Eurasian Minerals and Enterprises Pvt TL CRISIL BB- 70 Suspended Ltd Flowtech Industries LLP CC CRISIL B+ 100 Reaffirmed Ganges Internationale Pvt Ltd Bill Discounting CRISIL BB 75 Suspended Ganges Internationale Pvt Ltd CC CRISIL BB 420 Suspended Ganges Internationale Pvt Ltd TL CRISIL BB 57.8 Suspended GNA Axles Ltd CC CRISIL BBB+ 400 Suspended GNA Axles Ltd Export Packing CRISIL BBB+ 400 Suspended Credit GNA Axles Ltd Proposed LT Bk CRISIL BBB+ 85 Suspended Loan Fac GNA Axles Ltd TL CRISIL BBB+ 810 Suspended Golawala Diamonds Export Packing CRISIL BB+ 60 Reaffirmed Credit Golawala Diamonds Non-FBL CRISIL BB+ 8.2 Reaffirmed Golawala Diamonds Post Shipment CRISIL BB+ 180 Reaffirmed Credit Golawala Diamonds Proposed LT Bk CRISIL BB+ 1.8 Reaffirmed Loan Fac Hafele India Pvt Ltd Buyer Credit Limit CRISIL A- 560 Reaffirmed Hafele India Pvt Ltd CC CRISIL A- 150 Reaffirmed HF Metal Art Pvt. Ltd CC CRISIL BB 37.5 Upgraded from CRISIL BB- HF Metal Art Pvt. Ltd Export Packing CRISIL BB 32.5 Upgraded from Credit CRISIL BB- HYT Inovative Projects Pvt Ltd CC CRISIL B 30 Downgraded from CRISIL B+ HYT Inovative Projects Pvt Ltd Proposed LT Bk CRISIL B 15.6 Downgraded Loan Fac from CRISIL B+ HYT Inovative Projects Pvt Ltd TL CRISIL B 35 Downgraded from CRISIL B+ Jayashree Electron Pvt Ltd CC CRISIL BB 38 Suspended Jayashree Electron Pvt Ltd Proposed LT Bk CRISIL BB 32 Suspended Loan Fac Jayashree Electron Pvt Ltd Rupee TL CRISIL BB 25 Suspended Kaliedo Coatings Pvt Ltd Proposed LT Bk CRISIL B+ 120 Suspended Loan Fac KLSR Infratech Ltd CC CRISIL BBB- 225 Reaffirmed KLSR Infratech Ltd Proposed LT Bk CRISIL BBB- 550 Reaffirmed Loan Fac KUN Motor Company Pvt Ltd CC CRISIL BBB+ 250 Reaffirmed KUN Motor Company Pvt Ltd TL CRISIL BBB+ 186 Reaffirmed M/S. Sadik Enterprise Bill Discounting CRISIL B- 50 Suspended Manaltheeram Ayurvedic Hospital & CC/ Overdraft Fac CRISIL B 6.6 Suspended Research Centre Pvt. Ltd. Manaltheeram Ayurvedic Hospital & LT Loan CRISIL B 20 Suspended Research Centre Pvt. Ltd. Mangal Trading Company Overdraft Fac CRISIL BB- 6 Reaffirmed Mangal Trading Company TL CRISIL BB- 29 Reaffirmed Maverick Holdings and Investments Pvt Lease Rental CRISIL BB 1375.1 Reaffirmed Ltd Discounting Loan* *The total LRD of Rs.1375.1 million from Bank of Baroda and Syndicate Bank will be jointly held by 'Maverick Holdings and Investments Pvt Ltd' and 'Euroamer Garuda Resorts India Pvt Ltd' Metro Decoratives Pvt Ltd CC CRISIL BB- 80 Suspended MJR Constructions Pvt Ltd CC CRISIL B 30 Reaffirmed MJR Constructions Pvt Ltd Proposed LT Bk CRISIL B 20 Reaffirmed Loan Fac NAC Jewellers Pvt Ltd CC CRISIL BBB- 780.8 Upgraded from CRISIL BB+ NAC Jewellers Pvt Ltd LT Loan CRISIL BBB- 30 Upgraded from CRISIL BB+ NAC Jewellers Pvt Ltd Proposed CC Limit CRISIL BBB- 197.7 Upgraded from CRISIL BB+ Naya Infrastructure Pvt Ltd Proposed CC Limit CRISIL B+ 10 Assigned Naya Infrastructure Pvt Ltd CC CRISIL B+ 100 Reaffirmed Neelkanth Coal Manufacturing Pvt Ltd CC CRISIL B 120 Suspended Neelkanth Rubber Mills CC CRISIL B 80 Suspended Neelkanth Rubber Mills Proposed LT Bk CRISIL B 20 Suspended Loan Fac 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+ 2500 Reaffirmed Pro-Arc Welding and Cutting Systems Pvt CC CRISIL B+ 25 Upgraded from Ltd CRISIL B R R Trends Pvt Ltd Foreign Bill CRISIL BB+ 40 Assigned Discounting Regen Infrastructure and Services Pvt CC CRISIL BBB- 1000 Suspended Ltd Rishita Developers Pvt Ltd TL CRISIL BBB- 250 Reaffirmed Rodium Realty Ltd CC CRISIL BB- 75 Downgraded from CRISIL BB Rodium Realty Ltd Proposed LT Bk CRISIL BB- 105 Downgraded Loan Fac from CRISIL BB Rodium Realty Ltd TL CRISIL BB- 360 Downgraded from CRISIL BB S G Polyplast Pvt Ltd Buyer Credit Limit CRISIL BB 55 Suspended S G Polyplast Pvt Ltd CC CRISIL BB 70 Suspended Sasi Anand Spinning Mills (India) Pvt CC CRISIL BBB- 180 Reaffirmed Ltd Sasi Anand Spinning Mills (India) Pvt LT Loan CRISIL BBB- 150 Reaffirmed Ltd Sasi Anand Spinning Mills (India) Pvt Proposed LT Bk CRISIL BBB- 1.5 Assigned Ltd Loan Fac Scintillating Jewellery Export Packing CRISIL BBB- 258 Reaffirmed Credit Scintillating Jewellery Post Shipment CRISIL BBB- 342 Reaffirmed Credit Scintillating Jewellery Proposed LT Bk CRISIL BBB- 200 Reaffirmed Loan Fac Select Motors CC CRISIL BB- 82.5 Reaffirmed Select Motors Channel Financing CRISIL BB- 20 Reaffirmed Select Motors Inventory Funding CRISIL BB- 20 Reaffirmed Fac Select Motors Proposed LT Bk CRISIL BB- 17.5 Assigned Loan Fac Sharma Orthopedic (India) Pvt Ltd TL CRISIL BB- 37.5 Assigned Sharma Orthopedic (India) Pvt Ltd Proposed LT Bk CRISIL BB- 6.7 Assigned Loan Fac Sharma Orthopedic (India) Pvt Ltd CC CRISIL BB- 50 Assigned Shivam Iron and Steel Co. Ltd CC CRISIL B- 1250 Reaffirmed Shivam Iron and Steel Co. Ltd Funded Interest TL CRISIL B- 71.3 Reaffirmed Shivam Iron and Steel Co. Ltd Proposed LT Bk CRISIL B- 13.8 Reaffirmed Loan Fac Shivam Iron and Steel Co. Ltd TL CRISIL B- 203.5 Reaffirmed Shivam Iron and Steel Co. Ltd WC TL CRISIL B- 342.4 Reaffirmed Sinewave Generators Pvt Ltd CC CRISIL BBB- 40 Reaffirmed Sinewave Generators Pvt Ltd Proposed LT Bk CRISIL BBB- 18 Reaffirmed Loan Fac Smriti Apparels Pvt Ltd LOC CRISIL D 30 Downgraded from CRISIL A4 Smriti Apparels Pvt Ltd LT Loan CRISIL D 2.4 Downgraded from CRISIL B+ Smriti Apparels Pvt Ltd Packing Credit CRISIL D 95 Downgraded from CRISIL A4 Somani Motors Pvt Ltd CC CRISIL B+ 7.5 Reaffirmed Somani Motors Pvt Ltd Electronic Dealer CRISIL B+ 52.5 Reaffirmed Financing Scheme(e-DFS) Somani Motors Pvt Ltd Proposed LT Bk CRISIL B+ 13 Reaffirmed Loan Fac SRC Projects Pvt Ltd Bill Discounting CRISIL BB+ 5 Upgraded from CRISIL BB SRC Projects Pvt Ltd CC CRISIL BB+ 60 Upgraded from CRISIL BB Sree Guru Raghavendra Cotton Ginning CC CRISIL B+ 50 Reaffirmed Factory Sree Kumar Agro Oils Pvt Ltd CC CRISIL B+ 200 Upgraded from CRISIL B Sree Kumar Agro Oils Pvt Ltd Proposed LT Bk CRISIL B+ 5 Upgraded from Loan Fac CRISIL B State Bank of India Tier-I Bond Issue CRISIL AA+ 33000 Assigned (Under Basel III) State Bank of India Tier-I Bond Issue CRISIL AA+ 58000 Reaffirmed (Under Basel III) State Bank of India Tier-II Bond Issue CRISIL AAA 20000 Reaffirmed (Under Basel III) State Bank of India Lower Tier-II CRISIL AAA 212500 Reaffirmed Bonds (Under Basel II) State Bank of India Upper Tier-II CRISIL AAA 205000 Reaffirmed Bonds (Under Basel II) State Bank of India Tier-I Perpetual CRISIL AAA 316500 Reaffirmed Bonds (Under Basel II) Stelco Ltd CC CRISIL BBB 70 Suspended Sunrise Industries India Ltd CC CRISIL B+ 100 Reaffirmed Sunrise Industries India Ltd Proposed LT Bk CRISIL B+ 258.9 Reaffirmed Loan Fac Sunrise Industries India Ltd TL CRISIL B+ 97.5 Reaffirmed Tata Motors Finance Ltd CC & WC demand CRISIL AA 42.73 Reaffirmed loan*@& *Only cash credit facility, not interchangeable with working capital demand loan facility for the following: Andhra Bank Rs 1.0 billion, IDBI Bank Rs 100 million, and Syndicate Bank Rs 100 million &For South Indian Bank- Rs 0.25 billion of CC is interchangeable with term loan @For Standard Chartered Bank cash credit/working capital demand loan limit of Rs 1.5 billion, Rs 1.05 billion is interchangeable with term loan Tata Motors Finance Ltd LT Bk Fac& CRISIL AA 65.45 Reaffirmed &For South Indian Bank- Rs 0.25 billion of CC is interchangeable with term loan Tata Motors Finance Ltd Proposed CC Limit# CRISIL AA 4.55 Reaffirmed # Facility is fungible with long-term bank facility Tata Motors Finance Ltd Proposed LT Bk CRISIL AA 81.02 Reaffirmed Loan Fac Technoline Engineering CC CRISIL B 47 Reaffirmed Tough Bags CC CRISIL B+ 70 Assigned Tough Bags Proposed CC Limit CRISIL B+ 10 Assigned United Polyfab Pvt Ltd CC CRISIL BBB- 20 Suspended United Polyfab Pvt Ltd Rupee TL CRISIL BBB- 1.4 Suspended United Polyfab Pvt Ltd TL CRISIL BBB- 143.6 Suspended Vitthal Distilleries Ltd CC CRISIL D 48 Suspended Vitthal Distilleries Ltd TL CRISIL D 282 Suspended Wallace Pharmaceuticals Pvt Ltd CC CRISIL BBB 250 Suspended Wallace Pharmaceuticals Pvt Ltd Proposed LT Bk CRISIL BBB 30 Suspended Loan Fac Watertec India Pvt Ltd CC CRISIL A- 100 Assigned Zenith Industrial Rubber Products Pvt CC CRISIL BBB 20 Reaffirmed Ltd Zenith Industrial Rubber Products Pvt External CRISIL BBB 166 Reaffirmed Ltd Commercial Borrowings Zenith Industrial Rubber Products Pvt Packing Credit CRISIL BBB 150 Reaffirmed Ltd -------------------------------------------------------------------------------------------- $: 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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