CRISIL ratings for Indian debt instruments-May 13

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CRISIL ratings for Indian debt instruments-May 13
Credit: © Reuters.

May 13 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India ( CRISIL (NS: CRSL )) for local debt instruments as of May 10 and May 11, 2019. COMPANY

INSTRUMENT

RATING

AMOUNT MOVEMENT

(RS.MLN) ------

----------

------

----- --------- SHORT TERM RATINGS: ------------------- A S Marine Industries Pvt Ltd

Foreign

CRISIL A4+

15

Reaffirmed

Documentary Bills

Purchase A S Marine Industries Pvt Ltd

Packing Credit

CRISIL A4+

80

Reaffirmed Abaan Impex Pvt Ltd

BG

CRISIL A4

40

Reaffirmed Akash Construction

BG

CRISIL A4+

22.5

Reaffirmed Akash Construction

Proposed BG

CRISIL A4+

52.5

Assigned Ashoka Developers and Builders Ltd

BG

CRISIL A4

5

Reaffirmed (Issuer Not Cooperating) Ashoka Developers and Builders Ltd

Proposed BG

CRISIL A4

15

Reaffirmed (Issuer Not Cooperating) Balaji Impex

LOC

CRISIL A4+

250

Reaffirmed Dewan Housing (NS: DWNH ) Finance Corporation Ltd CP

CRISIL A4+

8500

- Downgraded from CRISIL A3+ ; Continues on Rating Watch with Negative Implications Expo Gas Containers Ltd

BG

CRISIL A4+

140

Reaffirmed Expo Gas Containers Ltd

LOC

CRISIL A4+

5

Reaffirmed Expo Gas Containers Ltd

Overdraft

CRISIL A4+

143.1 Reaffirmed Gujarat Fluorochemicals (NS: GFLR ) Ltd

LOC & BG

CRISIL A1+

1000

Reaffirmed 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 PCFC facility to the extent of Rs 595 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

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

ST Loan$&@*

CRISIL A1+

1500

- $ 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

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

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

Packing Credit in CRISIL A1+

1500

Assigned

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

CP

CRISIL A1+

4000 L&T Infra Debt Fund Ltd

CP

CRISIL A1+

5000

Reaffirmed Manugraph India Ltd

BG^

CRISIL A2

140

- Downgraded from CRISIL A2+ . ^Letter of credit is fungible with bank guarantee up to 50% of the limits. Manugraph India Ltd

LOC^

CRISIL A2

100

- Downgraded from CRISIL A2+ . ^Letter of credit is fungible with bank guarantee up to 50% of the limits Manugraph India Ltd

CP

CRISIL A2

100

- Downgraded from CRISIL A2+ Pathankot Vehicleades Pvt Ltd

BG

CRISIL A4+

170

Reaffirmed Perfect Infraengineers Ltd

BG

CRISIL A4

55

Reaffirmed (Issuer Not Cooperating) Perfect Infraengineers Ltd

LOC

CRISIL A4

10

Reaffirmed (Issuer Not Cooperating) PTC Industries Ltd

BG

CRISIL A4+

30

- (Issuer Not Cooperating); Revised from CRISIL A3 PTC Industries Ltd

Export Packing

CRISIL A4+

120

-

Credit (Issuer Not Cooperating); Revised from CRISIL A3 PTC Industries Ltd

Foreign Bill

CRISIL A4+

140

-

Purchase (Issuer Not Cooperating); Revised from CRISIL A3 PTC Industries Ltd

LOC

CRISIL A4+

45

- (Issuer Not Cooperating); Revised from CRISIL A3 PTC Industries Ltd

Packing Credit

CRISIL A4+

40

- (Issuer Not Cooperating); Revised from CRISIL A3 Rawmin Mining and Industries Pvt Ltd

Packing Credit

CRISIL A4+

270

- (Issuer Not Cooperating) Shriram Transport (NS: SRTR ) Finance Co. Ltd

BG

CRISIL A1+

10296.3 Reaffirmed Shriram Transport Finance Co. Ltd

ST Bk Fac

CRISIL A1+

17993 Reaffirmed Shriram Transport Finance Co. Ltd

CP

CRISIL A1+

75000 Reaffirmed Solcen Infra Pvt Ltd

Proposed BG

CRISIL A4+

16.5

Assigned Solcen Infra Pvt Ltd

BG

CRISIL A4+

13.5

Assigned System Control and Automation Pvt Ltd Non-FBL

CRISIL A4

20

- Downgraded from CRISIL A4+ Water Wealth Infratech India Pvt Ltd

BG

CRISIL A4

5

Reaffirmed (Issuer Not Cooperating) Waterfront Constructions Pvt Ltd

BG

CRISIL A4+

80

Reaffirmed (Issuer Not Cooperating) MEDIUM TERM RATINGS: ------------------- Shriram Transport Finance Co. Ltd

FD Programme

FAAA

-

Reaffirmed LONG TERM RATINGS: ------------------- A S Marine Industries Pvt Ltd

Proposed LT Bk

CRISIL BB+

5

-

Loan Fac Upgraded from CRISIL BB Abaan Impex Pvt Ltd

CC

CRISIL B+

80

- Upgraded from CRISIL B Akash Construction

CC

CRISIL BB

10

Reaffirmed Amba Grains Pvt Ltd

CC

CRISIL BB-

450

Reaffirmed Amba Grains Pvt Ltd

LT Loan

CRISIL BB-

17.5

Reaffirmed Amba Grains Pvt Ltd

Proposed FB Bk

CRISIL BB-

52.5

Reaffirmed

Limits Arti Roller Flour Industries Pvt Ltd

CC

-

56.5

Withdrawn (Issuer Not Cooperating) Ashoka Bagewadi Saundatti Road Ltd

TL

CRISIL A-

1980

- Upgraded from CRISIL BBB Ashoka Developers and Builders Ltd

Proposed Overdraft CRISIL B

45

Reaffirmed

Fac (Issuer Not Cooperating) Ashoka Developers and Builders Ltd

Secured Overdraft CRISIL B

180

Reaffirmed

Fac (Issuer Not Cooperating) Ashoka Hungund Talikot Road Ltd

TL

CRISIL A-

1990

- Upgraded from CRISIL BBB Baba Bhuman Shah JI Industries

CC

CRISIL BB-

90

- Upgraded from CRISIL B+ Baba Bhuman Shah JI Industries

TL

CRISIL BB-

13

- Upgraded from CRISIL B+ Baba Bhuman Shah JI Industries

Warehouse Receipts CRISIL BB-

7

- Upgraded from CRISIL B+ Baba Bhuman Shah JI Rice Mills

CC

CRISIL BB-

120

Reaffirmed Migrated from CRISIL BB-/Stable (Issuer Not Cooperating) Balaji Impex

CC

CRISIL BB+

70

Reaffirmed Balaji Impex

Proposed LT Bk

CRISIL BB+

15

Reaffirmed

Loan Fac Basudeb Auto Ltd

CC

CRISIL B+

42.5

Reaffirmed Basudeb Auto Ltd

Channel Financing CRISIL B+

102.5 Reaffirmed Basudeb Auto Ltd

Proposed LT Bk

CRISIL B+

5

Reaffirmed

Loan Fac Beeta Poly Coats Pvt Ltd

CC

CRISIL BB

145

Reaffirmed Beeta Poly Coats Pvt Ltd

Proposed CC Limit CRISIL BB

45

Reaffirmed Electra Accumulators Ltd

CC

CRISIL D

175

- Downgraded from CRISIL BB- Electra Global Resources Pvt Ltd

CC

CRISIL D

55

- Downgraded from CRISIL B+ Electra Global Resources Pvt Ltd

LOC

CRISIL D

35

- Downgraded from CRISIL B+ Electra Global Resources Pvt Ltd

Proposed LT Bk

CRISIL D

5

-

Loan Fac Downgraded from CRISIL B+ Eurolax Pack LLP

CC

CRISIL B+

50

- Migrated from CRISIL B/Stable (Issuer Not Cooperating) Eurolax Pack LLP

LT Loan

CRISIL B+

67

- Migrated from CRISIL B/Stable (Issuer Not Cooperating) Expo Gas Containers Ltd

CC

CRISIL BB-

111.9 Reaffirmed Finecure Pharmaceuticals Ltd

CC

CRISIL BBB

30

Assigned Finecure Pharmaceuticals Ltd

Proposed LT Bk

CRISIL BBB

170

Assigned

Loan Fac Flex Foods Ltd

LT Loan

CRISIL BBB-

90

- (Issuer Not Cooperating); Revised from CRISIL BBB/Stable (Issuer Not Cooperating)* Genesys International Corporation Ltd BG

-

40

Withdrawn Genesys International Corporation Ltd Packing Credit

-

100

Withdrawn Genesys International Corporation Ltd Proposed LT Bk

-

130

Withdrawn

Loan Fac Golflinks Software Park Pvt Ltd

Lease Rental

-

3450

Withdrawn

Discounting Loan Gujarat Fluorochemicals Ltd

Foreign Currency CRISIL AA

406.6 Reaffirmed

TL^ ^ USD 0.588 crore converted at 69.1488 INR/USD Gujarat Fluorochemicals Ltd

Foreign Currency CRISIL AA

406.6 Reaffirmed

TL^ ^ USD 0.588 crore converted at 69.1488 INR/USD Gujarat Fluorochemicals Ltd

Foreign Currency CRISIL AA

456.4 -

TL# # USD 0.660 crore converted at 69.1488 INR/USD Gujarat Fluorochemicals Ltd

Proposed LT Bk

CRISIL AA

930.4 -

Loan Fac Gujarat Fluorochemicals Ltd

Rupee TL

CRISIL AA

950

Assigned India Infoline Finance Ltd - Robust CV Series A PTC

CRISIL AAA

-

- Trust Nov 2018

(SO) @ @ the provision rating assigned on december 14, 2018 has been converted into final rating after CRISIL rewiew of relevant executed documents pertaining to the transaction. Jagdambay Rice Mills

CC

CRISIL B+

72.5

Reaffirmed JMJ Finance Ltd

Proposed LT Bk

CRISIL BB

100

Assigned

Loan Fac KUN Auto Company Pvt Ltd

CC

CRISIL BB+

105

- Downgraded from CRISIL BBB- KUN Auto Company Pvt Ltd

Inventory Funding CRISIL BB+

815

-

Fac Downgraded from CRISIL BBB- L&T Infra Debt Fund Ltd

NCDs

CRISIL AAA

87500 Reaffirmed L&T Infra Debt Fund Ltd

PS

CRISIL AAA

2500

Reaffirmed L&T Infra Debt Fund Ltd

LT Principal

CRISIL PP-MLD 5000

Reaffirmed

Protected Market AAAr

Linked Debentures Laxmi Megan Speciality Health Care Pvt Proposed LT Bk

CRISIL B

3000

Reaffirmed Ltd

Loan Fac Mahima Fibres Pvt Ltd

CC

-

720

Withdrawn (Issuer Not Cooperating) Mahima Fibres Pvt Ltd

Export Bill

-

8

Withdrawn

Negotiation (Issuer Not Cooperating) Mahima Fibres Pvt Ltd

TL

-

1242

Withdrawn (Issuer Not Cooperating) Manugraph India Ltd

CC

CRISIL BBB+

230

- Downgraded from CRISIL A- Manugraph India Ltd

CC**

CRISIL BBB+

220

- Downgraded from CRISIL A-/Stable. **Cash credit facility is completely fungible with letter of credit and bank guarantee Manugraph India Ltd

Proposed FB Bk

CRISIL BBB+

135

-

Limits Downgraded from CRISIL A- Manugraph India Ltd

Proposed LT Bk

CRISIL BBB+

490

-

Loan Fac Downgraded from CRISIL A- MFL Securitisation Trust LXXIV

Series A1 PTCs

CRISIL AAA (SO)-

Final Rating (Originator: Magma Fincorp Ltd (NS: MAGM )) MFL Securitisation Trust LXXIV

Series A2 PTCs

CRISIL AAA (SO)-

Final Rating (Originator: Magma Fincorp Ltd) MFL Securitisation Trust LXXIV

Second loss Fac

CRISIL BBB+

-

Final Rating (Originator: Magma Fincorp Ltd)

(SO) Equivalent Omkar Speciality Chemicals Ltd

Bill Discounting CRISIL D

100

Reaffirmed (Issuer Not Cooperating) Omkar Speciality Chemicals Ltd

CC

CRISIL D

710

Reaffirmed (Issuer Not Cooperating) Omkar Speciality Chemicals Ltd

Corporate Loan

CRISIL D

500

Reaffirmed (Issuer Not Cooperating) Omkar Speciality Chemicals Ltd

LOC

CRISIL D

600

Reaffirmed (Issuer Not Cooperating) Paras Tarp Industries

CC

CRISIL B+

18

Reaffirmed Migrated from CRISIL B+/Stable (Issuer Not Cooperating) Paras Tarp Industries

LT Loan

CRISIL B+

22.8

Reaffirmed Migrated from CRISIL B+/Stable (Issuer Not Cooperating) Paras Tarp Industries

Proposed CC Limit CRISIL B+

29.2

Reaffirmed Migrated from CRISIL B+/Stable (Issuer Not Cooperating) Pathankot Vehicleades Pvt Ltd

CC

CRISIL BB+

215

Reaffirmed Pathankot Vehicleades Pvt Ltd

Proposed TL

CRISIL BB+

115

Reaffirmed Pee Cee Cosma Sope Ltd

CC

CRISIL BB+

57.5

- (Issuer Not Cooperating); Revised from CRISIL BBB-/Stable (Issuer Not Cooperating)* Pee Cee Cosma Sope Ltd

Proposed LT Bk

CRISIL BB+

25

-

Loan Fac (Issuer Not Cooperating); Revised from CRISIL BBB-/Stable (Issuer Not Cooperating)* Perfect Infraengineers Ltd

CC

CRISIL B-

60

Reaffirmed (Issuer Not Cooperating) Perfect Infraengineers Ltd

Proposed LT Bk

CRISIL B-

20

Reaffirmed

Loan Fac (Issuer Not Cooperating) Perfect Infraengineers Ltd

TL

CRISIL B-

15

Reaffirmed (Issuer Not Cooperating) PTC Industries Ltd

CC

CRISIL BB+

170

- (Issuer Not Cooperating); Revised from CRISIL BBB- PTC Industries Ltd

Proposed LT Bk

CRISIL BB+

4

-

Loan Fac (Issuer Not Cooperating); Revised from CRISIL BBB- PTC Industries Ltd

TL

CRISIL BB+

83

- (Issuer Not Cooperating); Revised from CRISIL BBB- Rawmin Mining and Industries Pvt Ltd

Foreign Usance

-

200

Withdrawn

Bills Purchase -

Discounting (Issuer Not Cooperating) Shakti Industries - Jalalabad

CC

CRISIL B+

112.5 Reaffirmed (Issuer Not Cooperating) Shakti Industries - Jalalabad

Proposed LT Bk

CRISIL B+

2.5

Reaffirmed

Loan Fac (Issuer Not Cooperating) Shraddha Motors Pvt Ltd

CC

CRISIL B

100

Reaffirmed (Issuer Not Cooperating) Shree Tirupati Balajee Agro Trading

BG

-

20

Withdrawn Company Pvt Ltd (Issuer Not Cooperating) Shree Tirupati Balajee Agro Trading

CC

-

120

Withdrawn Company Pvt Ltd (Issuer Not Cooperating) Shree Tirupati Balajee Agro Trading

Export Packing

-

480

Withdrawn Company Pvt Ltd

Credit (Issuer Not Cooperating) Shree Tirupati Balajee Agro Trading

LOC

-

220

Withdrawn Company Pvt Ltd (Issuer Not Cooperating) Shree Tirupati Balajee Agro Trading

Proposed LT Bk

-

10.5

Withdrawn Company Pvt Ltd

Loan Fac (Issuer Not Cooperating) Shree Tirupati Balajee Agro Trading

TL

-

29.5

Withdrawn Company Pvt Ltd (Issuer Not Cooperating) Shree Tirupati Balajee FIBC Ltd

Export Packing

-

180

Withdrawn

Credit (Issuer Not Cooperating) Shree Tirupati Balajee FIBC Ltd

Proposed LT Bk

-

30

Withdrawn

Loan Fac (Issuer Not Cooperating) Shree Tirupati Balajee FIBC Ltd

TL

-

30

Withdrawn (Issuer Not Cooperating) Shri Radhe Foods Product

CC

CRISIL B+

50

Reaffirmed Shri Radhe Foods Product

TL

CRISIL B+

20

Reaffirmed Shriram Transport Finance Co. Ltd

BG

CRISIL AA+

10350 Reaffirmed Shriram Transport Finance Co. Ltd

CC & WC demand loanCRISIL AA+

59275 Reaffirmed Shriram Transport Finance Co. Ltd

LT Bk Fac@

CRISIL AA+

125932.8Reaffirmed @Long term bank facilities of Rs 1243 crore transferred from Shriram Equipment Finance Company Limited to Shriram Transport Finance Company Limited upon amalgamation of the former with latter. Shriram Transport Finance Co. Ltd

Proposed LT Bk

CRISIL AA+

138582.9 Reaffirmed

Loan Fac Shriram Transport Finance Co. Ltd

Subordinated Debt CRISIL AA+

10000 Reaffirmed Shriram Transport Finance Co. Ltd

Subordinated Debt CRISIL AA+

10000 Reaffirmed Shriram Transport Finance Co. Ltd

NCD

CRISIL AA+

50000 Reaffirmed Shriram Transport Finance Co. Ltd

NCD

CRISIL AA+

367800 Reaffirmed Shriram Transport Finance Co. Ltd

Subordinated Debt CRISIL AA+

20000 Reaffirmed Shriram Transport Finance Co. Ltd

Subordinated Debt CRISIL AA+

1317

Reaffirmed #Transferred from Shriram Equipment Finance Company Limited to Shriram Transport Finance Company Limited upon amalgamation of the former with latter Shriram Transport Finance Co. Ltd

Subordinated Debt CRISIL AA+

15000 Reaffirmed

Issue (Tier II)

Bonds Shriram Transport Finance Co. Ltd

LT Principal

CRISIL PP-MLD 5000

Assigned

Protected Market AA+r

Linked Debentures Singh Natural Resource Pvt Ltd

CC

CRISIL BB-

60

Reaffirmed Singh Natural Resource Pvt Ltd

Proposed LT Bk

CRISIL BB-

40

Reaffirmed

Loan Fac Solcen Infra Pvt Ltd

Proposed Line of CRISIL BB-

15

Assigned

Credit Solcen Infra Pvt Ltd

Proposed FB Bk

CRISIL BB-

86

Assigned

Limits Solcen Infra Pvt Ltd

Proposed CC Limit CRISIL BB-

20

Assigned Solcen Infra Pvt Ltd

CC

CRISIL BB-

49

Assigned System Control and Automation Pvt Ltd CC

CRISIL B+

37.5

- Downgraded from CRISIL BB- System Control and Automation Pvt Ltd Proposed LT Bk

CRISIL B+

2.5

-

Loan Fac Downgraded from CRISIL BB- Water Wealth Infratech India Pvt Ltd

CC

CRISIL B

40

Reaffirmed (Issuer Not Cooperating) Waterfront Constructions Pvt Ltd

CC

CRISIL BB-

140

Reaffirmed (Issuer Not Cooperating) Yadav Solvex Pvt. Ltd.

CC

CRISIL B

50

Reaffirmed (Issuer Not Cooperating) Yadav Solvex Pvt. Ltd.

TL

CRISIL B

71.5

Reaffirmed (Issuer Not Cooperating) -------------------------------------------------------------------------------------------- $: 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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