CRISIL ratings for Indian debt instruments-Mar 20

Last Updated: Mon, Mar 20, 2017 15:00 hrs

Mar 20 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India (CRISIL) for local debt instruments as of March 17, 2017. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ----- --------- SHORT TERM RATINGS: ------------------- Aanuj Infraprojects Pvt Ltd BG CRISIL A4+ 45 Reaffirmed Baba Structural Pvt Ltd BG CRISIL A4 6 Reaffirmed BMW Ventures Ltd BG CRISIL A3 10 Reaffirmed BMW Ventures Ltd Proposed ST Bk CRISIL A3 50 Reaffirmed Loan Fac Brahmaputra Cracker and Polymer Ltd ST Loan CRISIL A1 2500 Reaffirmed Conor Granito Pvt Ltd BG CRISIL A4 40 Reassigned G V G Industries Pvt Ltd BG CRISIL A4+ 1 Reaffirmed G V G Industries Pvt Ltd LOC CRISIL A4+ 35 Reaffirmed Gemstone Glass Pvt Ltd BG CRISIL A3 20 Reaffirmed Gruh Finance Ltd ST Debt Programme CRISIL A1+ 55000 Reaffirmed Jivraj Tea Ltd LOC* CRISIL A3+ 30 Reaffirmed * Includes sub-limit for bank guarantee of Rs.2 crore Kalyani Forge Ltd FCNR (B) ST Loan CRISIL A2 100 Reaffirmed Kalyani Forge Ltd LOC & BG CRISIL A2 170 Reaffirmed Kamlesh Kumar BG CRISIL A4 35 Assigned Kamlesh Kumar Overdraft CRISIL A4 10 Assigned Kanohar Electricals Ltd BG CRISIL A3+ 50 Assigned Kshatriya Laboratories Pvt Ltd LOC CRISIL A4 25 Assigned Lalitha Chem Industries Pvt Ltd BG CRISIL A4+ 2.5 Reaffirmed Lalitha Chem Industries Pvt Ltd LOC CRISIL A4+ 650 Reaffirmed Mahavir Rice Mills Packing Credit CRISIL A4 130 Assigned NJK Enterprises BG CRISIL A4+ 2 Assigned NJK Enterprises Import LOC Limit CRISIL A4+ 30 Assigned NJK Enterprises Packing Credit CRISIL A4+ 150 Assigned Nuflower Foods And Nutrition Pvt Ltd BG CRISIL A4+ 20 Assigned Oswal Agrimpex Packing Credit in CRISIL A4+ 85 Upgraded from Foreign Currency CRISIL A4+ P K K Constructions BG CRISIL A4 40 Assigned R D Fashions Pvt Ltd LOC CRISIL A4 3.5 Assigned Rajasthan Gum Pvt Ltd Foreign Bill CRISIL A2+ 3600 Reaffirmed Purchase S.S. Spinning Mills LOC CRISIL A3+ 10 Reassigned Samrudh Pharmacare Pvt Ltd LOC CRISIL A4 5 Assigned Sara Sae Pvt Ltd LOC & BG CRISIL A3 250 Downgraded from CRISIL A2 Sara Sae Pvt Ltd Packing Credit CRISIL A3 210 Downgraded from CRISIL A2 Shri Siddhivinayaga Tex India Pvt Ltd BG CRISIL A3+ 40 Reaffirmed SK. Chan Basha and Co Bill Discounting CRISIL A4 82.5 Reaffirmed under LOC Sohan Healthcare Pvt Ltd Letter Of GuaranteeCRISIL A4+ 1 Reaffirmed Sohan Healthcare Pvt Ltd LOC CRISIL A4+ 6.5 Reaffirmed Sri Venkatachalapathy Spinning Mills LOC CRISIL A4+ 20 Reaffirmed Pvt Ltd SRVS Industries BG CRISIL A4+ 100 Assigned Subray Catal Chem Pvt Ltd BG CRISIL A4+ 2.5 Issuer not Cooperating and Rating placed on Notice of Withdrawal* *Issuer did not cooperate; based on best-available information Subray Catal Chem Pvt Ltd LOC CRISIL A4+ 295.5 Issuer not Cooperating and Rating placed on Notice of Withdrawal* *Issuer did not cooperate; based on best-available information Swastik Overseas LOC CRISIL A4 55 Reaffirmed Synthite Industries Ltd Export Finance CRISIL A1+ 1500 Reaffirmed Limit^ ^100% interchangeability between letter of credit Synthite Industries Ltd LOC CRISIL A1+ 30 Reaffirmed Synthite Industries Ltd LOC & BG CRISIL A1+ 250 Reaffirmed Synthite Industries Ltd Packing Credit## CRISIL A1+ 1598 Reaffirmed ##100% interchangeability between packing credit in foreign currency, foreign documentary bill purchase, and foreign usance discount bill purchase. Synthite Industries Ltd Packing Credit@@ CRISIL A1+ 1500 Reaffirmed @@100% interchangeability between packing credit in foreign currency, import letter of credit, standby letter of credit, short-term loan, and overdraft export. Synthite Industries Ltd Packing Credit@ CRISIL A1+ 500 Reaffirmed @Rs 50.0 crs is interchangeable between packing credit in foreign currency and foreign documentary bill purchase. Synthite Industries Ltd Packing Credit CRISIL A1+ 1000 Reaffirmed Technova Imaging Systems Pvt Ltd BG CRISIL A2 200 Upgraded from CRISIL A3+ Technova Imaging Systems Pvt Ltd LOC* CRISIL A2 2300 Upgraded from CRISIL A3+ *Fully interchangeable with buyer's credit United Bank of India CDs CRISIL A1+ 20000 Reaffirmed UTM Engineering Pvt Ltd BG CRISIL A4 65 Reaffirmed MEDIUM TERM RATINGS: ------------------- Gruh Finance Ltd FD Programme FAAA - Reaffirmed LONG TERM RATINGS: ------------------- Aanuj Infraprojects Pvt Ltd CC CRISIL BB- 55 Reaffirmed Aanuj Infraprojects Pvt Ltd Proposed LT Bk CRISIL BB- 60 Reaffirmed Loan Fac Al-Super Frozen Foods Pvt Ltd TL CRISIL D 250 Downgraded from CRISIL B- Al-Super Frozen Foods Pvt Ltd CC Withdrawal 80 Withdrawal Al-Super Frozen Foods Pvt Ltd Proposed LT Bk Withdrawal 220 Withdrawal Loan Fac Baba Biswanath Agro Products Pvt Ltd CC CRISIL B+ 40 Assigned Baba Biswanath Agro Products Pvt Ltd LT Loan CRISIL B+ 19.8 Assigned Baba Structural Pvt Ltd CC CRISIL B+ 95 Upgraded from CRISIL B- Baba Structural Pvt Ltd Proposed LT Bk CRISIL B+ 67.6 Upgraded from Loan Fac CRISIL B- Baba Structural Pvt Ltd TL CRISIL B+ 1.4 Upgraded from CRISIL B- BMW Ventures Ltd CC CRISIL BBB- 500 Reaffirmed BMW Ventures Ltd Channel Financing CRISIL BBB- 350 Reaffirmed Brahmaputra Cracker and Polymer Ltd CC & WC demand CRISIL A+ 3500 Reaffirmed loan^ ^ Includes the following sub-limits: 1. LC limits (Inland & Foreign): Rs. 90 Crore 2. BG limits (Inland): Rs. 10 Crore 3. Forward contract/ derivative limit: Rs. 1.4 Crore. Brahmaputra Cracker and Polymer Ltd TL* CRISIL A+ 20032 Assigned * Includes sublimit of Rs. 500 Crore for non-fund based facility Conor Granito Pvt Ltd CC CRISIL B+ 80 Reaffirmed Conor Granito Pvt Ltd TL CRISIL B+ 165 Reaffirmed Eastern Silk Industries Ltd Funded Interest TL CRISIL D 545.7 Reaffirmed Eastern Silk Industries Ltd Proposed LT Bk CRISIL D 45 Reaffirmed Loan Fac Eastern Silk Industries Ltd TL CRISIL D 535.7 Reaffirmed Eastern Silk Industries Ltd WC Fac CRISIL D 628.7 Reaffirmed Eastern Silk Industries Ltd WC TL CRISIL D 2959.9 Reaffirmed G V G Industries Pvt Ltd CC CRISIL BB 40 Reaffirmed G V G Industries Pvt Ltd Proposed LT Bk CRISIL BB 20 Reaffirmed Loan Fac Gemstone Glass Pvt Ltd Packing Credit CRISIL BBB- 125 Reaffirmed Gemstone Glass Pvt Ltd Proposed LT Bk CRISIL BBB- 8.2 Reaffirmed Loan Fac Gemstone Glass Pvt Ltd TL CRISIL BBB- 16.8 Reaffirmed Good Media News Pvt Ltd CC CRISIL B- 28.5 Assigned Good Media News Pvt Ltd LT Loan CRISIL B- 81.5 Assigned Gruh Finance Ltd NCD Issue CRISIL AAA 4500 Assigned Gruh Finance Ltd NCD Issue CRISIL AAA 1150 Reaffirmed Gruh Finance Ltd NCD CRISIL AAA 13500 Reaffirmed Gruh Finance Ltd Subordinated Debt CRISIL AAA 350 Reaffirmed Gyansagar Textile Pvt Ltd TL CRISIL B+ 28.5 Assigned Gyansagar Textile Pvt Ltd CC CRISIL B+ 40 Assigned Gyansagar Textile Pvt Ltd Proposed LT Bk CRISIL B+ 1.5 Assigned Loan Fac Hector Enterprises Pvt Ltd Proposed LT Bk CRISIL B 91.7 Downgraded Loan Fac from CRISIL B+ Hector Enterprises Pvt Ltd TL CRISIL B 158.3 Downgraded from CRISIL B+ Heena Food Products Pvt Ltd CC CRISIL BB- 100 Assigned Heena Food Products Pvt Ltd Proposed WC Fac CRISIL BB- 23 Assigned Honest Marketing Pvt Ltd CC CRISIL B 40 Reaffirmed Honest Marketing Pvt Ltd Proposed CC Limit CRISIL B 40 Reaffirmed Jivraj Tea Ltd CC CRISIL BBB 160.1 Reaffirmed Jivraj Tea Ltd TL CRISIL BBB 106.5 Reaffirmed Kalyani Forge Ltd Buyer`s Credit CRISIL BBB+ 50 Reaffirmed Kalyani Forge Ltd CC CRISIL BBB+ 400 Reaffirmed Kalyani Forge Ltd LT Loan CRISIL BBB+ 250 Reaffirmed Kalyani Forge Ltd Proposed LT Bk CRISIL BBB+ 9.2 Reaffirmed Loan Fac Kalyani Forge Ltd TL CRISIL BBB+ 20.8 Reaffirmed Kamlesh Kumar Proposed TL CRISIL B+ 30 Assigned Kamlesh Kumar Proposed Overdraft CRISIL B+ 5 Assigned Fac Kamlesh Kumar Proposed BG CRISIL B+ 40 Assigned Kanohar Electricals Ltd CC CRISIL BBB 200 Assigned Karthikai Textile Mills TL CRISIL BB+ 135 Assigned Karthikai Textile Mills CC CRISIL BB+ 30 Assigned Karthikai Textile Mills Foreign Bill CRISIL BB+ 45 Assigned Discounting KD Iron and Steel Company CC CRISIL BBB+ 330 Assigned KD Iron and Steel Company Proposed WC Fac CRISIL BBB+ 90 Assigned Keerthi Rice Industries CC CRISIL BB- 67.5 Reaffirmed Keerthi Rice Industries LT Loan CRISIL BB- 15 Reaffirmed Keerthi Rice Industries Proposed LT Bk CRISIL BB- 25 Reaffirmed Loan Fac Keerthi Rice Industries SME Credit CRISIL BB- 2.5 Reaffirmed Keshav Pulses TL CRISIL B+ 1.9 Assigned Keshav Pulses CC CRISIL B+ 45 Assigned Keshav Pulses Proposed LT Bk CRISIL B+ 13.1 Assigned Loan Fac KIA Textiles Pvt Ltd CC CRISIL B+ 95 Reaffirmed Kshatriya Laboratories Pvt Ltd LT Loan CRISIL B 90 Assigned Kshatriya Laboratories Pvt Ltd CC CRISIL B 60 Assigned Lalitha Chem Industries Pvt Ltd CC CRISIL BB+ 80 Reaffirmed Lalitha Chem Industries Pvt Ltd Overdraft CRISIL BB+ 150 Reaffirmed Mahavir Rice Mills CC CRISIL B+ 20 Assigned Natasha Automobiles Pvt Ltd CC CRISIL B+ 50 Assigned Natasha Automobiles Pvt Ltd Electronic Dealer CRISIL B+ 100 Assigned Financing Scheme(e-DFS) Neerakkal Latex CC CRISIL D 80 Downgraded from CRISIL Neerakkal Latex Proposed LT Bk CRISIL D 3 Downgraded Loan Fac from CRISIL Neerakkal Latex TL CRISIL D 12 Downgraded from CRISIL Nichem Industries Proposed CC Limit CRISIL BB- 30 Assigned Nichem Industries CC@$ CRISIL BB- 110 Assigned @ Foreign Bill discounting/ foreign Bill Purchase are sub-limit of Cash credit to the extent of Rs.5.00 Cr. $ Export Packing Credit is sub-limit of Cash Credit to the extent of Rs. 3.00 Cr.Nichem Industries Export Packing CRISIL BB- 40 Assigned Credit Nikita Corporation CC CRISIL B+ 85 Reaffirmed NJK Enterprises Foreign Bill CRISIL BB+ 150 Assigned Discounting NJK Enterprises Proposed LT Bk CRISIL BB+ 3.5 Assigned Loan Fac Nuflower Foods And Nutrition Pvt Ltd TL CRISIL BB 10 Assigned Nuflower Foods And Nutrition Pvt Ltd CC CRISIL BB 20 Assigned Oswal Agrimpex Proposed LT Bk CRISIL BB- 4.3 Upgraded from Loan Fac CRISIL B+ P K K Constructions Proposed LT Bk CRISIL B 5 Assigned Loan Fac P K K Constructions CC CRISIL B 40 Assigned Prostar Textile Mill Pvt Ltd CC CRISIL B+ 8.7 Assigned Prostar Textile Mill Pvt Ltd TL CRISIL B+ 130 Assigned R D Fashions Pvt Ltd TL CRISIL B+ 5 Assigned R D Fashions Pvt Ltd CC CRISIL B+ 54 Assigned Radheshyam Industries CC CRISIL B+ 120 Reaffirmed S.S. Spinning Mills CC CRISIL BBB 120 Reaffirmed Samrudh Pharmacare Pvt Ltd CC CRISIL B- 10 Reaffirmed Samrudh Pharmacare Pvt Ltd TL CRISIL B- 88.9 Assigned Samrudh Pharmacare Pvt Ltd Proposed LT Bk CRISIL B- 1.1 Assigned Loan Fac Sara Sae Pvt Ltd Bill Pur - Disc FacCRISIL BBB- 210 Downgraded from CRISIL BBB+ Sara Sae Pvt Ltd CC CRISIL BBB- 210 Downgraded from CRISIL BBB+ Sara Sae Pvt Ltd Proposed LT Bk CRISIL BBB- 155 Downgraded Loan Fac from CRISIL BBB+ Shri Siddhivinayaga Tex India Pvt Ltd Buyer`s Credit CRISIL BBB 221.6 Reaffirmed Shri Siddhivinayaga Tex India Pvt Ltd CC CRISIL BBB 400 Reaffirmed Shri Siddhivinayaga Tex India Pvt Ltd LT Loan CRISIL BBB 38.4 Reaffirmed Shri Siddhivinayaga Tex India Pvt Ltd Warehouse FinancingCRISIL BBB 200 Reaffirmed Silvermoon Motors Pvt Ltd Electronic Dealer CRISIL B+ 50 Assigned Financing Scheme (e-DFS)* * Includes adhoc limit of Rs.1 cr Silvermoon Motors Pvt Ltd Auto loans CRISIL B+ 6 Assigned Silvermoon Motors Pvt Ltd Drop Line CRISIL B+ 50 Assigned Overdraft Fac Sitara Jewellery Pvt Ltd Export Packing CRISIL B 75 Assigned Credit Sitara Jewellery Pvt Ltd Export Packing CRISIL B 75 Assigned Credit SK. Chan Basha and Co CC CRISIL B+ 50 Reaffirmed Sohan Healthcare Pvt Ltd CC CRISIL BB+ 72.5 Reaffirmed South Park Motor Pvt Ltd Drop Line CRISIL B+ 100 Assigned Overdraft Fac South Park Motor Pvt Ltd Electronic Dealer CRISIL B+ 150 Assigned Financing Scheme(e-DFS) Sri Venkatachalapathy Spinning Mills CC CRISIL BB- 140 Downgraded Pvt Ltd from CRISIL BB Sri Venkatachalapathy Spinning Mills LT Loan CRISIL BB- 100 Downgraded Pvt Ltd from CRISIL BB SRVS Industries CC CRISIL BB+ 30 Assigned State Bank of Mysore Tier I Bonds CRISIL AA+ 7000 Assigned State Bank of Mysore Tier II Bond CRISIL AAA 5000 Reaffirmed State Bank of Mysore Tier II Bond CRISIL AAA 5000 Reaffirmed State Bank of Mysore Upper Tier-II Bond CRISIL AAA 6400 Reaffirmed State Bank of Mysore Tier I Perpetual CRISIL AAA 2600 Reaffirmed Bon Subray Catal Chem Pvt Ltd CC CRISIL BB+ 87 Issuer not Cooperating and Rating placed on Notice of Withdrawal* *Issuer did not cooperate; based on best-available information Swastik Overseas CC CRISIL B 5 Reaffirmed Synthite Industries Ltd CC CRISIL AA- 2 Reaffirmed Synthite Industries Ltd Packing Credit CRISIL AA- 1800 Reaffirmed Technova Imaging Systems Pvt Ltd CC CRISIL BBB+ 1300 Upgraded from CRISIL BBB Technova Imaging Systems Pvt Ltd Proposed CC Limit CRISIL BBB+ 100 Upgraded from CRISIL BBB Technova Imaging Systems Pvt Ltd Proposed LT Bk CRISIL BBB+ 100 Upgraded from Loan Fac CRISIL BBB Thakkar Popatlal Velji Sales Ltd CC CRISIL BBB- 250 Reaffirmed Track Components Ltd BG CRISIL D 7.5 Reaffirmed Track Components Ltd CC CRISIL D 775 Reaffirmed Track Components Ltd LOC CRISIL D 310 Reaffirmed Track Components Ltd TL CRISIL D 307.5 Reaffirmed United Bank of India Tier-I CRISIL A 3000 Reaffirmed Perpetual Bonds United Bank of India Tier I Bonds CRISIL AA- 5000 Reaffirmed United Bank of India Tier II Bond CRISIL AA- 5000 Reaffirmed United Bank of India Lower Tier-II BondsCRISIL AA- 2000 Reaffirmed UTM Engineering Pvt Ltd CC CRISIL B 15 Reaffirmed Yash Laxmi Solvent Pvt Ltd CC CRISIL BB- 163 Upgraded from CRISIL B+ Yash Laxmi Solvent Pvt Ltd TL CRISIL BB- 77 Upgraded from CRISIL B+ -------------------------------------------------------------------------------------------- $: 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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