CRISIL ratings for Indian debt instruments-Jan 11

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CRISIL ratings for Indian debt instruments-Jan 11
Credit: © Reuters.

Jan 11 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India ( CRISIL (NS: CRSL )) for local debt instruments as of January 10, 2019. COMPANY

INSTRUMENT

RATING

AMOUNT MOVEMENT

(RS.MLN) ------

----------

------

----- --------- SHORT TERM RATINGS: ------------------- Amjey Chem Trade Pvt Ltd

LOC

CRISIL A3

405

Assigned Bansal Brothers Pvt Ltd

BG

CRISIL A4

2.5

Reassigned Beekay Distributors

BG

CRISIL A4+

31.5

Reaffirmed Choice Finserv Pvt Ltd

CP

CRISIL A3

600

Assigned Elico Ltd

BG

CRISIL A4

25

- (ISSUER NOT COOPERATING) Elico Ltd

LOC

CRISIL A4

15

- (ISSUER NOT COOPERATING) Gruh Finance Ltd

CP

CRISIL A1+

75000 - (Placed on 'Rating Watch with Negative Implications') Gujarat Ambuja Exports Ltd

Export Packing

CRISIL A1

3770

Reassigned

Credit@ @ Limits can be used interchangeably partly with Cash Credit, Pre-shipment Credit in Foreign Currency, Export bills, Working Capital Demand Loan, Trade credit for imports, Bank Guarantee, Vendor finance, Customer Finance, FCNR, Letter of Credit Gujarat Ambuja Exports Ltd

Foreign LOC$

CRISIL A1

350

Reassigned $ Fully interchangeable with Bank Guarantee Gujarat Fluorochemicals (NS: GFLR ) Ltd

LOC & BG

CRISIL A1+

1000

Reaffirmed Gujarat Fluorochemicals Ltd

Packing Credit in CRISIL A1+

850

Reaffirmed

Foreign Currency$ $ Interchangeable with letter of credit and bank guarantee to the extent of Rs 955 crore Gujarat Fluorochemicals Ltd

ST Loan$&@@**

CRISIL A1+

1500

Reaffirmed $ Interchangeable with letter of credit and bank guarantee to the extent of Rs 955 crore & Interchangeable with overdraft facility to the extent of Rs 435 crore @@Interchangeable with short-term debt to the extent of Rs 570 crore ** Interchangeable with PCFC facility to the extent of Rs.595 crore Gujarat Fluorochemicals Ltd

LOC & BG @@$&**

CRISIL A1+

2500

Reaffirmed @@Interchangeable with short-term debt to the extent of Rs 570 crore $ Interchangeable with letter of credit and bank guarantee to the extent of Rs 955 crore & Interchangeable with overdraft facility to the extent of Rs 435 crore ** Interchangeable with PCFC facility to the extent of Rs.595 crore Gujarat Fluorochemicals Ltd

LOC & BG @@&

CRISIL A1+

500

Reaffirmed @@Interchangeable with short-term debt to the extent of Rs 570 crore & Interchangeable with overdraft facility to the extent of Rs 435 crore Gujarat Fluorochemicals Ltd

LOC & BG$&

CRISIL A1+

500

Reaffirmed $ Interchangeable with letter of credit and bank guarantee to the extent of Rs 955 crore & Interchangeable with overdraft facility to the extent of Rs 435 crore Gujarat Fluorochemicals Ltd

Packing Credit in CRISIL A1+

1500

Reaffirmed

Foreign

Currency$&@@** $ Interchangeable with letter of credit and bank guarantee to the extent of Rs 955 crore & Interchangeable with overdraft facility to the extent of Rs 435 crore @@Interchangeable with short-term debt to the extent of Rs 570 crore ** Interchangeable with PCFC facility to the extent of Rs.595 crore Gujarat Fluorochemicals Ltd

ST Loan&@@**

CRISIL A1+

1000

Reaffirmed & Interchangeable with overdraft facility to the extent of Rs 435 crore @@Interchangeable with short-term debt to the extent of Rs 570 crore ** Interchangeable with PCFC facility to the extent of Rs.595 crore Gujarat Fluorochemicals Ltd

ST Loan$&@@

CRISIL A1+

2000

Reaffirmed $ Interchangeable with letter of credit and bank guarantee to the extent of Rs 955 crore/ & Interchangeable with overdraft facility to the extent of Rs 435 crore @@Interchangeable with short-term debt to the extent of Rs 570 crore Gujarat Fluorochemicals Ltd

ST Loan&@@**

CRISIL A1+

500

Reaffirmed & Interchangeable with overdraft facility to the extent of Rs 435 crore @@Interchangeable with short-term debt to the extent of Rs 570 crore ** Interchangeable with PCFC facility to the extent of Rs.595 crore Gujarat Fluorochemicals Ltd

CP

CRISIL A1+

4000

Reaffirmed K.S.M. Bashir Mohammad & Sons

BG

CRISIL A3+

623

Reaffirmed Kabra Extrusiontechnik Ltd

BG

CRISIL A1

30

Reaffirmed Kabra Extrusiontechnik Ltd

LOC

CRISIL A1

10

Reaffirmed Kerala Electrical and Allied Engg. Co. BG

CRISIL A4

81

Reaffirmed Ltd Kerala Electrical and Allied Engg. Co. Bill Purchase

CRISIL A4

3

Reaffirmed Ltd Kerala Electrical and Allied Engg. Co. LOC

CRISIL A4

60

Reaffirmed Ltd Malankara Orthodox Syrian Church

BG

CRISIL A4+

70

Reaffirmed Medical Mission Malankara Orthodox Syrian Church

LOC

CRISIL A4+

7.5

Reaffirmed Medical Mission Miku Traders

BG

CRISIL A4+

30

Assigned Rajesh Industries

Packing Credit

CRISIL A4+

100

Reaffirmed Sarv Biolabs Pvt Ltd

BG

CRISIL A3

5

Assigned (Suspension Revoked) Sarv Biolabs Pvt Ltd

LOC

CRISIL A3

19.3

Assigned (Suspension Revoked) STS Manufacturing Pvt Ltd

Bill Discounting CRISIL A4+

50

Assigned Techne Infra India Pvt Ltd

BG

CRISIL A4

25

Reaffirmed Vijai Marine Services

BG

CRISIL A3

154

Reaffirmed Vijai Marine Services

Overdraft

CRISIL A3

46

Reaffirmed Vintek Circuits (India) Pvt. Ltd

LOC

CRISIL A3

200

Upgraded from

CRISIL A4+ MEDIUM TERM RATINGS: ------------------- Gruh Finance Ltd

FD Programme

FAAA

-

- (Placed on 'Rating Watch with Negative Implications')

LONG TERM RATINGS: ------------------- Agri Search India Pvt Ltd

CC

CRISIL BB+

40

Upgraded from

CRISIL BB Agri Search India Pvt Ltd

TL

CRISIL BB+

67

Upgraded from

CRISIL BB Amjey Chem Trade Pvt Ltd

CC

CRISIL BBB-

50

Assigned Asirvad Microfinance Ltd - Northern Arc Series A PTCs

Provisional

2500

Provisional 2018 MFI Hunza

CRISIL A

Rating

Assigned Avanse Financial Services Ltd - Vivriti Series A2 PTCs

Provisional

5.9

Provisional Uxie 12 2018

CRISIL A+

Rating

Assigned Avanse Financial Services Ltd - Vivriti Series A1 PTCs

Provisional

549.9 Provisional Uxie 12 2018

CRISIL AA-

Rating

Assigned Bansal Brothers Pvt Ltd

CC

CRISIL B+

81.7

Reaffirmed Bansal Brothers Pvt Ltd

Proposed FB Bk

CRISIL B+

15.8

Assigned

Limits Beekay Distributors

CC

CRISIL BB+

43.5

Reaffirmed Beekay Distributors

Channel Financing CRISIL BB+

85

Reaffirmed ELA Educational Trust

TL

CRISIL B

120

Assigned Elico Ltd

CC

CRISIL B+

130

- (ISSUER NOT COOPERATING) Gruh Finance Ltd

NCDs

CRISIL AAA

20000 - (Placed on 'Rating Watch with Negative Implications') Gruh Finance Ltd

NCDs

CRISIL AAA

39000 - (Placed on 'Rating Watch with Negative Implications') Gruh Finance Ltd

Subordinated Debt CRISIL AAA

350

-

Issue (Placed on 'Rating Watch with Negative Implications') Gujarat Ambuja Exports Ltd

CC*

CRISIL A+

5880

Reaffirmed *Limits can be used interchangeably with Letter of Credit, Export Packing Credit/Pre-shipment Credit in Foreign Currency, Export bills, Working Capital Demand Gujarat Ambuja Exports Ltd

Proposed FB Bk

CRISIL A+

164

Reaffirmed

Limits Gujarat Fluorochemicals Ltd

Foreign Currency CRISIL AA

518.5 Reaffirmed

TL^^ ^^ USD 7.43 million converted at 69.8350 INR/USD Gujarat Fluorochemicals Ltd

Proposed LT Bk

CRISIL AA

1707.5 Reaffirmed

Loan Fac Gujarat Fluorochemicals Ltd

Foreign Currency CRISIL AA

924

Reaffirmed

TL^ ^ USD 6.62 million converted at 69.8350 INR/USD K.S.M. Bashir Mohammad & Sons

CC

CRISIL BBB

136

Reaffirmed Kabra Extrusiontechnik Ltd

CC*

CRISIL A+

90

Reaffirmed

* Interchangeable up to Rs 7.5 crore with export packing credit, fully interchangeable with bill discounting, interchangeable up to Rs 7.5 crore with export bill discounting/negotiation. Kabra Extrusiontechnik Ltd

CC**

CRISIL A+

400

Reaffirmed ** Fully interchangeable with packing credit, working capital demand loan, foreign bills purchase/discounting Kabra Extrusiontechnik Ltd

Proposed LT Bk

CRISIL A+

10

Assigned

Loan Fac Kerala Electrical and Allied Engg. Co. CC

CRISIL B

173.5 Reaffirmed Ltd Kerala Electrical and Allied Engg. Co. Proposed LT Bk

CRISIL B

2.5

Reaffirmed Ltd

Loan Fac Magma Fincorp Ltd (NS: MAGM )

Series A1 PTCs

Provisional

1795.4 Assigned

CRISIL AAA Magma Fincorp Ltd

Series A2 PTCs

Provisional

124.8 Assigned

CRISIL AAA Magma Fincorp Ltd

Second loss Fac

Provisional

124.8 Assigned

CRISIL BBB+ Mahindra Lifespace (NS: MALD ) Developers Ltd

NCDs

CRISIL AA

2000

Upgraded from

CRISIL AA- Malankara Orthodox Syrian Church

CC

CRISIL BB

50

Reaffirmed Medical Mission Malankara Orthodox Syrian Church

LT Loan

CRISIL BB

308.5 Reaffirmed Medical Mission Malankara Orthodox Syrian Church

Proposed LT Bk

CRISIL BB

49

Reaffirmed Medical Mission

Loan Fac Miku Traders

CC

CRISIL BB

120

Assigned Miku Traders

CC/ Overdraft Fac CRISIL BB

50

Assigned Pranavam Aerospace Pvt Ltd

Proposed CC Limit CRISIL B

20

- (ISSUER NOT COOPERATING) Pranavam Aerospace Pvt Ltd

Proposed LT Bk

CRISIL B

150

-

Loan Fac (ISSUER NOT COOPERATING) Rajesh Industries

CC

CRISIL BB

150

Reaffirmed Rajesh Industries

Proposed LT Bk

CRISIL BB

30

Reaffirmed

Loan Fac Recmet Alloys Pvt Ltd

CC

CRISIL B+

48

Downgraded

from CRISIL

BB- Recmet Alloys Pvt Ltd

Proposed LT Bk

CRISIL B+

39.5

Downgraded

Loan Fac

from CRISIL

BB- Recmet Alloys Pvt Ltd

TL

CRISIL B+

32.5

Downgraded

from CRISIL

BB- Royal Concast

CC

CRISIL BB-

70

Upgraded from

CRISIL B+ Sangameshwar Dall Mill

CC

CRISIL B

70

Downgraded

from CRISIL B+ Sarv Biolabs Pvt Ltd

CC

CRISIL BBB-

160

Assigned (Suspension Revoked) Sarv Biolabs Pvt Ltd

Export Packing

CRISIL BBB-

20

Assigned

Credit (Suspension Revoked) Sarv Biolabs Pvt Ltd

TL

CRISIL BBB-

65.7

Assigned (Suspension Revoked) Shree Nath Ji Enterprises - Nissing

CC

CRISIL B+

65

Reaffirmed Shree Nath Ji Enterprises - Nissing

LT Loan

CRISIL B+

25

Reaffirmed Shree Nath Ji Enterprises - Nissing

Warehouse Receipts CRISIL B+

35

Reaffirmed STS Manufacturing Pvt Ltd

Proposed LT Bk

CRISIL BB

2.5

Assigned

Loan Fac STS Manufacturing Pvt Ltd

LT Loan

CRISIL BB

50

Assigned STS Manufacturing Pvt Ltd

CC

CRISIL BB

17.5

Assigned Swashthik Industriees

BG

-

9.5

Withdrawn Swashthik Industriees

CC

-

52.5

Withdrawn Swashthik Industriees

LOC

-

15

Withdrawn Swashthik Industriees

LT Loan

-

8

Withdrawn Techne Infra India Pvt Ltd

CC

CRISIL B+

35

Reaffirmed Vijai Marine Services

CC

CRISIL BBB-

54

Reaffirmed Vintek Circuits (India) Pvt. Ltd

CC

CRISIL BBB-

20

Upgraded from

CRISIL BB+ -------------------------------------------------------------------------------------------- $: 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.

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