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CRISIL ratings for Indian debt instruments-Mar 15
Fri, Mar 15 12:15 PM IST

Mar 15 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India (CRISIL) for local debt instruments as of March 14, 2013.

COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ----- --------- SHORT TERM RATINGS: ------------------- Air India SATS Airport Services BG CRISIL A2+ 1000 Reaffirmed Pvt Ltd Amroon Foods Pvt Ltd BG CRISIL A4+ 5 Reaffirmed Amroon Foods Pvt Ltd Bill Discounting CRISIL A4+ 400 Reaffirmed Amroon Foods Pvt Ltd Export Packing CRISIL A4+ 200 Reaffirmed Credit Aquapharm Chemicals Pvt Ltd LOC & BG CRISIL A2 1300 Reaffirmed ASL Marketing Pvt Ltd LOC CRISIL A4+ 50 Reaffirmed ASL Marketing Pvt Ltd Proposed LOC CRISIL A4+ 20 Reaffirmed ETA Engineering Pvt Ltd Proposed ST Bk Loan CRISIL A4 1244.9 Reaffirmed Fac ETA Engineering Pvt Ltd LOC & BG CRISIL A4 4149 Reaffirmed Fair Exports (India) Pvt Ltd BG CRISIL A4+ 10 Reaffirmed Fair Exports (India) Pvt Ltd Bill Discounting CRISIL A4+ 255.5 Reaffirmed Fair Exports (India) Pvt Ltd Export Packing CRISIL A4+ 250 Reaffirmed Credit Farida Prime Tannery Pvt Ltd Foreign Bill CRISIL A4+ 40 Reaffirmed Purchase (LC) Farida Prime Tannery Pvt Ltd Foreign Bill CRISIL A4+ 127# Reaffirmed Purchase (Non LC) #Rs.95.0 Million 100% Full Interchangeability between Export Packing Credit and Foreign Bill Discounting Non LC Farida Prime Tannery Pvt Ltd Inland/Import LOC CRISIL A4+ 169.5 Reaffirmed Farida Prime Tannery Pvt Ltd Standby Line of CRISIL A4+ 50 Reaffirmed Credit Farida Prime Tannery Pvt Ltd Export Packing CRISIL A4+ 105# Reaffirmed Credit #Rs.95.0 Million 100% Full Interchangeability between Export Packing Credit and Foreign Bill Discounting Non LC Flexipol Foams Pvt Ltd LOC CRISIL A4+ 42.4 Upgraded from CRISIL A4 Furnace Fabrica (India) Ltd BG** CRISIL A2+ 2973.77 Reaffirmed **Letter of credit and bank guarantee are interchangeable Furnace Fabrica (India) Ltd LOC** CRISIL A2+ 909.49 Reaffirmed **Letter of credit and bank guarantee are interchangeable GNA Duraparts Ltd BG CRISIL A4+ 5 Reaffirmed GNA Duraparts Ltd LOC CRISIL A4+ 50 Reaffirmed Jalna Siddhivinayak Alloys Pvt Ltd Letter of Guarantee CRISIL A4+ 60 Upgraded from CRISIL A4 Kalyan Aqua & Marine Exports India BG CRISIL A4 1.5 Reaffirmed Pvt Ltd Kalyan Aqua & Marine Exports India Foreign Bill CRISIL A4 120 Reaffirmed Pvt Ltd Discounting Kalyan Aqua & Marine Exports India LOC CRISIL A4 17 Reaffirmed Pvt Ltd Kalyan Aqua & Marine Exports India Packing Credit CRISIL A4 100 Reaffirmed Pvt Ltd Kalyan Aqua & Marine Exports India Standby LOC CRISIL A4 18 Assigned Pvt Ltd Kirloskar Pneumatic Co. Ltd LOC & BG CRISIL A1+ 4710 Reaffirmed Kharvel Sales Pvt Ltd LOC CRISIL D 18 Downgraded from CRISIL A4 Konark Polytubes Pvt Ltd BG CRISIL A4 4 Assigned Madras Engineering Industries Pvt BG CRISIL A3+ 11 Downgraded Ltd from CRISIL A2 Madras Engineering Industries Pvt LOC CRISIL A3+ 15 Downgraded Ltd from CRISIL A2 Madras Engineering Industries Pvt Pre Shipment CRISIL A3+ 100# Downgraded Ltd Packing Credit from CRISIL A2 #Includes sublimit of Rs.100 million for Export Invoice Financing, Rs.100 million for Import Invoice Financing, Rs.50 million for Bonds and Guarantees, Rs.30 million for Overdraft, Rs.50 million for Short Term Loans and Rs.100 million for Import Letter of Credit and USD 1.95 million for Financial Guarantee /Standby Letter of Credit (SBLC) (Trade) Madras Engineering Industries Pvt Supplier Line of CRISIL A3+ 10 Downgraded Ltd Credit from CRISIL A2 Mahindra Retail Pvt Ltd Proposed LOC & BG CRISIL A2 50 Assigned Masu Brakes Pvt Ltd BG CRISIL A4+ 1.5 Suspended Masu Brakes Pvt Ltd Foreign Bill CRISIL A4+ 70 Suspended Discounting Masu Brakes Pvt Ltd LOC CRISIL A4+ 40 Suspended Masu Brakes Pvt Ltd Packing Credit CRISIL A4+ 40 Suspended Nayak Infrastructure Pvt Ltd Standby Line of CRISIL A4 25 Upgraded from Credit CRISIL D Parksons Graphics Prop, Abhi - Ani BG CRISIL A3 5 Reaffirmed Mfg. Co. Pvt Ltd Parksons Graphics Pvt Ltd BG CRISIL A3 3 Reaffirmed PG Associates Pvt Ltd LOC CRISIL A4 125 Reaffirmed PG Associates Pvt Ltd Proposed LOC CRISIL A4 25 Reaffirmed Ramkrishna Electricals Ltd BG CRISIL A4+ 50 Reaffirmed Ramkrishna Electricals Ltd LOC CRISIL A4+ 30 Reaffirmed Realtime Techsolutions Pvt Ltd LOC CRISIL A3 60 Suspension Revoked Realtime Techsolutions Pvt Ltd BG CRISIL A3 90 Suspension Revoked Realtime Techsolutions Pvt Ltd Proposed ST Bk Fac CRISIL A3 30 Suspension Revoked Roha Dyechem Pvt Ltd Bill Discounting CRISIL A2+ 150 Reaffirmed Roha Dyechem Pvt Ltd LOC CRISIL A2+ 250 Reaffirmed Roha Dyechem Pvt Ltd Packing Credit^ CRISIL A2+ 780 Reaffirmed ^Fully interchangeable with Bill Discounting upto the limit of 430.0 Million Roha Dyechem Pvt Ltd BG CRISIL A2+ 10 Assigned Roopam Steel Rolling Mills Letter Of Guarantee CRISIL A4+ 4.5 Upgraded from CRISIL A4 Sabitri Rice Mills Pvt Ltd BG CRISIL A4+ 1 Reaffirmed Sakthi Ganesh Textiles Pvt Ltd LOC CRISIL A4 70 Upgraded from CRISIL D Sakthi Ganesh Textiles Pvt Ltd Standby Line of CRISIL A4 10 Assigned Credit Som Datt Builders Pvt Ltd BG CRISIL A3+ 1500 Reaffirmed Som Datt Builders Pvt Ltd LOC CRISIL A3+ 140 Downgraded from CRISIL A2 Swastik Refinery Pvt Ltd BG CRISIL A4+ 15 Reaffirmed Swastik Refinery Pvt Ltd LOC CRISIL A4+ 800 Reaffirmed Tata Autocomp GY Batteries Ltd LOC* CRISIL A3+ 200 Reaffirmed *Interchangeable with Bank Guarantee Venus Controls & Switchgear Pvt Proposed LOC & BG CRISIL A4+ 200 Assigned Ltd VIP Industries Ltd LOC & BG** CRISIL A1 250 Reaffirmed **Interchangeable with buyers credit Virtual Galaxy Infotech Pvt Ltd BG CRISIL A4 50 Reaffirmed Wayne-Burt Petrochemicals Pvt Ltd LOC CRISIL A4 12.5 Reaffirmed Wayne-Burt Petrochemicals Pvt Ltd BG CRISIL A4 7.5 Assigned LONG TERM RATINGS: ------------------- AG Conveying Systems Pvt Ltd ST Loan CRISIL D 7.5 Assigned AG Conveying Systems Pvt Ltd Proposed LT Bk Loan CRISIL D 11.5 Assigned Fac AG Conveying Systems Pvt Ltd Packing Credit CRISIL D 7.5 Assigned AG Conveying Systems Pvt Ltd BG CRISIL D 15 Assigned AG Conveying Systems Pvt Ltd CC CRISIL D 28.5 Assigned Air India SATS Airport Services CC CRISIL A- 1000 Reaffirmed Pvt Ltd Air India SATS Airport Services Proposed LT Bk Loan CRISIL A- 1000 Reaffirmed Pvt Ltd Fac Ambojini Property Developers Pvt Proposed LT Bk Loan CRISIL B+ 400 Assigned Ltd Fac Amroon Foods Pvt Ltd TL CRISIL BB 183.8 Reaffirmed Aquapharm Chemicals Pvt Ltd CC CRISIL BBB+ 349 Reaffirmed Aquapharm Chemicals Pvt Ltd TL CRISIL BBB+ 160 Reaffirmed ASL Marketing Pvt Ltd CC CRISIL BB- 70 Reaffirmed ASL Marketing Pvt Ltd Proposed CC CRISIL BB- 30 Reaffirmed Concord Hospitality Pvt Ltd BG CRISIL D 30 Reaffirmed Concord Hospitality Pvt Ltd TL CRISIL D 600 Suspension Revoked Concord Hospitality Pvt Ltd Proposed LT Bk Loan CRISIL D 150 Suspension Fac Revoked Deki Electronics Ltd Rupee TL CRISIL BBB 11 Reaffirmed Deki Electronics Ltd Proposed LT Bk Loan CRISIL BBB 1.5 Assigned Fac Deki Electronics Ltd CC CRISIL BBB 92.5 Reaffirmed Deki Electronics Ltd Foreign Currency TL CRISIL BBB 55 Assigned Encore Healthcare Pvt Ltd CC CRISIL BBB- 45 Reaffirmed Encore Healthcare Pvt Ltd Corporate Loan CRISIL BBB- 60 Reaffirmed Encore Healthcare Pvt Ltd Proposed LT Bk Loan CRISIL BBB- 20 Reaffirmed Fac ETA Engineering Pvt Ltd CC CRISIL C 942.6 Reaffirmed Fair Exports (India) Pvt Ltd TL CRISIL BB 400 Reaffirmed Flexipol Foams Pvt Ltd CC CRISIL BB- 37.5 Upgraded from CRISIL B+ Flexipol Foams Pvt Ltd Standby Line of CRISIL BB- 5.6 Upgraded from Credit CRISIL B+ Flexipol Foams Pvt Ltd TL CRISIL BB- 22.5 Upgraded from CRISIL B+ Furnace Fabrica (India) Ltd CC# CRISIL A- 100 Reaffirmed #Interchangeable with LC & BG Furnace Fabrica (India) Ltd CC CRISIL A- 816.6 Reaffirmed Furnace Fabrica (India) Ltd Foreign Currency TL CRISIL A- 192.7 Reaffirmed Furnace Fabrica (India) Ltd Rupee TL CRISIL A- 250 Reaffirmed Furnace Fabrica (India) Ltd Proposed LT Bk Fac CRISIL A- 80.14 Reaffirmed G. N. Pet TL CRISIL D 39 Assigned G. N. Pet BG CRISIL D 11 Assigned G. N. Pet CC CRISIL D 50 Assigned Garib Nawaz Polymers Pvt Ltd CC CRISIL D 61.5 Assigned Garib Nawaz Polymers Pvt Ltd TL CRISIL D 48.5 Assigned GNA Duraparts Ltd CC CRISIL BB+ 700 Reaffirmed GNA Duraparts Ltd TL CRISIL BB+ 545 Reaffirmed Gujarat Eco Textile Park Ltd BG CRISIL D 10 Reaffirmed Gujarat Eco Textile Park Ltd Proposed LT Bk Loan CRISIL D 91.3 Reaffirmed Fac Gujarat Eco Textile Park Ltd Rupee TL CRISIL D 458.7 Reaffirmed Ideal Dealers Pvt Ltd CC CRISIL BBB 110 Reaffirmed Jai Ambey Wire Pvt Ltd CC CRISIL B+ 80 Assigned Jai Ambey Wire Pvt Ltd TL CRISIL B+ 30 Assigned Jalna Siddhivinayak Alloys Pvt Ltd CC CRISIL BB- 212.5 Upgraded from CRISIL B Jalna Siddhivinayak Alloys Pvt Ltd TL CRISIL BB- 219.8 Upgraded from CRISIL B Kalyan Aqua & Marine Exports India TL CRISIL B- 76.7 Assigned Pvt Ltd Kharvel Sales Pvt Ltd CC CRISIL D 70 Downgraded from CRISIL B Kirloskar Pneumatic Co. Ltd CC CRISIL AA- 650 Reaffirmed Konark Polytubes Pvt Ltd TL CRISIL B 9 Assigned Konark Polytubes Pvt Ltd Proposed LT Bk Loan CRISIL B 7.5 Assigned Fac Konark Polytubes Pvt Ltd CC CRISIL B 60 Assigned Krishna Godavari Power Utilities LT Loan CRISIL B- 1.0219 Downgraded Ltd from CRISIL BB- Madras Engineering Industries Pvt Buyer Credit Limit CRISIL BBB 47 Downgraded Ltd from CRISIL BBB+ Madras Engineering Industries Pvt CC CRISIL BBB 230* Downgraded Ltd from CRISIL BBB+ *Includes sublimit of Rs.120 million for Inland Bills Discounting (IBD), Rs.30 million for Export Packing Credit (EPC) and Rs.40 million of Foreign Bill Disc Madras Engineering Industries Pvt LT Loan CRISIL BBB 723.7 Downgraded Ltd from CRISIL BBB+ Mahindra Retail Pvt Ltd TL CRISIL BBB+ 800 Reaffirmed Mahindra Retail Pvt Ltd CC CRISIL BBB+ 370 Reaffirmed Mahindra Retail Pvt Ltd Proposed CC CRISIL BBB+ 130 Reaffirmed Malpani Cottons Pvt Ltd CC CRISIL B+ 140 Reaffirmed Masu Brakes Pvt Ltd TL CRISIL BB+ 48 Suspended Nashik Municipal Corporation Corporate Credit CCR AA- Reaffirmed Rating Nashik Municipal Corporation Proposed TL CRISIL AA- 2500 Assigned Nayak Infrastructure Pvt Ltd BG* CRISIL B 790 Upgraded from CRISIL D *10% of Bank Guarantee Limit is interchangeable with Cash Credit Nayak Infrastructure Pvt Ltd CC CRISIL B 160 Upgraded from CRISIL D Numero Uno Clothing Ltd CC*# CRISIL BBB 400 Reaffirmed * Inter changeable with Overdraft, Bank Guarantee/Letter of Credit, Packing Credit Limit/Packing Credit in Foreign Currency, Foreign Usance Bills Discounting Padmashri Dr. Vitthalrao Vikhe Sugar Pledge CC CRISIL B+ 700 Assigned Patil Sahakari Sakhar Karkhana Ltd Parksons Graphics Prop, Abhi - Ani CC CRISIL BBB- 40 Reaffirmed Mfg. Co. Pvt Ltd Parksons Graphics Prop, Abhi - Ani Proposed LT Bk Loan CRISIL BBB- 40.4 Reaffirmed Mfg. Co. Pvt Ltd Fac Parksons Graphics Prop, Abhi - Ani TL CRISIL BBB- 24 Assigned Mfg. Co. Pvt Ltd Parksons Graphics Pvt Ltd CC CRISIL BBB- 75 Reaffirmed Parksons Graphics Pvt Ltd Rupee TL CRISIL BBB- 170.4 Reaffirmed PG Associates Pvt Ltd CC CRISIL B+ 50 Upgraded from CRISIL B Ramkrishna Electricals Ltd CC CRISIL BB 95 Reaffirmed Ramkrishna Electricals Ltd Proposed LT Bk Loan CRISIL BB 8.7 Reaffirmed Fac Realtime Techsolutions Pvt Ltd CC CRISIL BBB- 30 Suspension Revoked Realtime Techsolutions Pvt Ltd Proposed LT Bk Loan CRISIL BBB- 35 Suspension Fac Revoked Roha Dyechem Pvt Ltd CC* CRISIL A- 230 Reaffirmed *Fully Interchangeable with Packing Credit upto the limit of 200.0 Million Roha Dyechem Pvt Ltd LT Loan CRISIL A- 2668.2 Reaffirmed Roha Dyechem Pvt Ltd Proposed LT Bk Loan CRISIL A- 411.8 Assigned Fac Roopam Steel Rolling Mills CC CRISIL BB- 113.1 Upgraded from CRISIL B Roopam Steel Rolling Mills TL CRISIL BB- 10 Upgraded from CRISIL B Rukmini International CC CRISIL B+ 55 Assigned Sabitri Rice Mills Pvt Ltd CC CRISIL BB+ 70 Reaffirmed Sabitri Rice Mills Pvt Ltd TL CRISIL BB+ 2 Reaffirmed Sakthi Ganesh Textiles Pvt Ltd CC CRISIL B+ 70 Upgraded from CRISIL D Sakthi Ganesh Textiles Pvt Ltd LT Loan CRISIL B+ 43.9 Upgraded from CRISIL D Sakthi Ganesh Textiles Pvt Ltd Proposed TL CRISIL B+ 16.2 Assigned Som Datt Builders Pvt Ltd Proposed LT Bk Loan CRISIL BBB 50 Downgraded Fac from CRISIL BBB+ Som Datt Builders Pvt Ltd Proposed Overdraft CRISIL BBB 150 Downgraded Fac from CRISIL BBB+ Sukhdev Vaishno Dhaba CC CRISIL BB- 5 Assigned Sukhdev Vaishno Dhaba TL CRISIL BB- 78.5 Assigned Superior Industries Ltd CC CRISIL BB- 165 Assigned Swastik Refinery Pvt Ltd CC CRISIL BB- 150 Reaffirmed Swastik Refinery Pvt Ltd TL CRISIL BB- 10 Reaffirmed Tata Autocomp GY Batteries Ltd TL CRISIL BBB 7.4 Reaffirmed Tata Autocomp GY Batteries Ltd Proposed TL CRISIL BBB 502.6 Reaffirmed Tata Autocomp GY Batteries Ltd CC CRISIL BBB 300 Reaffirmed Venus Controls & Switchgear Pvt CC CRISIL BB 400 Reaffirmed Ltd Venus Controls & Switchgear Pvt Proposed LT Bk Loan CRISIL BB 200 Assigned Ltd Fac Vijayakrishna Farms CC CRISIL B- 47 Assigned Vijayakrishna Farms TL CRISIL B- 53 Assigned Vijayakrishna Hatcheries CC CRISIL B- 28.5 Assigned Vijayakrishna Hatcheries TL CRISIL B- 21.5 Assigned VIP Industries Ltd CC* CRISIL A+ 950 Reaffirmed *Interchangeable with packing credit VIP Industries Ltd Proposed WC Fac CRISIL A+ 600 Reaffirmed Virtual Galaxy Infotech Pvt Ltd CC CRISIL B+ 30 Reaffirmed Virtual Galaxy Infotech Pvt Ltd LT Loan CRISIL B+ 42.6 Assigned Waryam Steel Castings Pvt Ltd CC CRISIL BB+ 99 Upgraded from CRISIL BB Waryam Steel Castings Pvt Ltd LOC* CRISIL BB+ 81 Upgraded from CRISIL BB *Fully interchangeable with CC limits and Maximum cap on utilization of limits is Rs.150 Million Wayne-Burt Petrochemicals Pvt Ltd Packing Credit* CRISIL B+ 110 Reaffirmed *Interchangeable to the extent of Rs.10 Million with cash credit facility Wayne-Burt Petrochemicals Pvt Ltd LT Loan CRISIL B+ 35.1 Assigned -------------------------------------------------------------------------------------------- $: 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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