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Company News

CRISIL ratings for Indian debt instruments-May 3

   May 3 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of May 2, 2019.


COMPANY                                 INSTRUMENT         RATING        AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Akay Flavours and Aromatics Pvt Ltd     BG                 CRISIL A2      15      Reaffirmed
Akay Spices Pvt Ltd                     BG                 CRISIL A4+     13.8    Reaffirmed
Akay Spices Pvt Ltd                     Packing Credit     CRISIL A4+     220     Reaffirmed
Bhumi Developers                        BG                 CRISIL A4+     110     Reaffirmed
Chembond Chemicals Ltd                  BG                 CRISIL A1      30      Reaffirmed
Chemcoat India Enterprise Pvt Ltd       LOC                CRISIL A4      45      Assigned
Control Print Ltd                       LOC                CRISIL A2+     30      Reaffirmed
Delhi Airport Parking Services Pvt Ltd  BG                 CRISIL A1      50      Assigned
E.I.D. Parry India Ltd                  BG^                CRISIL A1+     1900    Reaffirmed
^Interchangeable with letter of credit and fund based working capital limits.
E.I.D. Parry India Ltd                  LOC*               CRISIL A1+     500     Reaffirmed
*Interchangeable with bank guarantee and fund based working capital limits.
E.I.D. Parry India Ltd                  Proposed NFBL      CRISIL A1+     2486    Reaffirmed
E.I.D. Parry India Ltd                  CP                 CRISIL A1+     9500    -
Evershine Wood Packaging Pvt Ltd        LOC                CRISIL A4+     275     Assigned
Fena Pvt Ltd                            LOC & BG           CRISIL A1      200     Reaffirmed
Fransko Agro Foods                      BG                 CRISIL A4      15      Reaffirmed
Jehan Numa Palace Hotel Pvt Ltd         Overdraft          CRISIL A2      46      Reaffirmed
K S Subbiah Pillai and Company India    Letter Of GuaranteeCRISIL A2+     2.5     Reaffirmed
Pvt Ltd
K S Subbiah Pillai and Company India    LOC                CRISIL A2+     2       Reaffirmed
Pvt Ltd
K S Subbiah Pillai and Company India    Packing Credit     CRISIL A2+     200     Reaffirmed
Pvt Ltd
K.P.Manish Global Ingredients Pvt Ltd   Import LOC Limit   CRISIL A3      200     Reaffirmed
M.L.Exports                             Letter Of GuaranteeCRISIL A2+     20      Reaffirmed
M.L.Exports                             LOC                CRISIL A2+     10      Reaffirmed
M.L.Exports                             Packing Credit     CRISIL A2+     300     Reaffirmed
M/s. Sree Laxmi Constructions           BG                 CRISIL A4+     60      Reaffirmed
Maddi Lakshmaiah And Company Pvt Ltd    ST Loan            CRISIL A2+     100     Reaffirmed
Manisha Projects Pvt Ltd                BG                 CRISIL A4+     735     Reaffirmed
ML Agro Products Pvt Ltd                Letter Of GuaranteeCRISIL A2+     4       Reaffirmed
ML Agro Products Pvt Ltd                LOC                CRISIL A2+     2       Reaffirmed
ML Agro Products Pvt Ltd                Packing Credit     CRISIL A2+     160     Reaffirmed
Nirav Metals Pvt Ltd                    BG                 CRISIL A4+     10      Reaffirmed
Nirav Metals Pvt Ltd                    LOC                CRISIL A4+     15      Reaffirmed
S P Singla Constructions Pvt Ltd        LOC & BG           CRISIL A1      13650   Reaffirmed
S. K. Exports                           Foreign Exchange   CRISIL A4+     4       Reaffirmed
                                        Forward
Salasar Alloy and Steel Industries Pvt  LOC                CRISIL A3      40      Reaffirmed
Ltd
Shoft Shipyard Pvt Ltd                  BG                 CRISIL A3+     850     Reaffirmed
Shoft Shipyard Pvt Ltd                  LOC                CRISIL A3+     10      Reaffirmed
Shoft Shipyard Pvt Ltd                  Proposed NFBL      CRISIL A3+     1640    Reaffirmed
Sree Saradhambal Automobiles Erode Pvt  Inventory Funding  CRISIL A4+     170     Reaffirmed
Ltd                                     Fac
Sree Saradhambal Automobiles Erode Pvt  Overdraft          CRISIL A4+     50      Reaffirmed
Ltd
Sree Saradhambal Automobiles Pvt Ltd    Inventory Funding  CRISIL A4+     50      Reaffirmed
                                        Fac
Sree Saradhambal Automobiles Pvt Ltd    Overdraft          CRISIL A4+     35      Reaffirmed
The Naihati Jute Mills Co Ltd           BG                 CRISIL A4+     40      Reaffirmed
The Naihati Jute Mills Co Ltd           LOC                CRISIL A4+     40      Reaffirmed
U. P. Twiga Fiberglass Ltd              BG                 CRISIL A1      10      Reaffirmed
U. P. Twiga Fiberglass Ltd              LOC                CRISIL A1      95      Reaffirmed
Unitop Aquacare Ltd                     BG                 CRISIL A3      47.5    Assigned
Wellknown Polyesters Ltd                BG                 CRISIL A1+     500     Assigned
Wellknown Polyesters Ltd                CP                 CRISIL A1+     2000    Reaffirmed
Yogeshwar Timber Mart                   LOC                CRISIL A4      60      Reaffirmed
Migrated from CRISIL A4 (Issuer Not Cooperating)
Yogeshwar Timber Mart                   Overdraft          CRISIL A4      5.3     Reaffirmed
Migrated from CRISIL A4 (Issuer Not Cooperating)


LONG TERM RATINGS:
-------------------
Adinath Sortex                          CC                 CRISIL BB-     70      -
Upgraded from CRISIL B+
Akay Flavours and Aromatics Pvt Ltd     Packing Credit     CRISIL BBB+    1000    Reaffirmed
Akay Flavours and Aromatics Pvt Ltd     Proposed WC Fac    CRISIL BBB+    10      Reaffirmed
Akay Spices Pvt Ltd                     LT Loan            CRISIL BB+     133     Reaffirmed
Autolight Glass Pvt Ltd                 CC*                CRISIL BB-     25      Reaffirmed
Autolight Glass Pvt Ltd                 LT Loan            CRISIL BB-     65      Reaffirmed
Bhumi Developers                        CC                 CRISIL BB+     40      -
Upgraded from CRISIL BB
Bhumi Developers                        Proposed BG        CRISIL BB+     50      -
Upgraded from CRISIL BB
Castle Ships Pvt Ltd                    LT Loan            CRISIL BBB     1140    Reaffirmed
Castle Ships Pvt Ltd                    TL                 CRISIL BBB     233.4   Reaffirmed
Chembond Chemicals Ltd                  CC                 CRISIL A-      160     Reaffirmed
Chemcoat India Enterprise Pvt Ltd       Proposed LT Bk     CRISIL B+      10      Assigned
                                        Loan Fac
Chemcoat India Enterprise Pvt Ltd       CC                 CRISIL B+      5       Assigned
Control Print Ltd                       CC                 CRISIL A-      470     Reaffirmed
Delhi Airport Parking Services Pvt Ltd  Rupee TL           CRISIL A+      1100    Assigned
E.I.D. Parry India Ltd                  CC#                CRISIL AA-     4000    Reaffirmed
# 50% interchangeable to non-fund based working capital limits. 

E.I.D. Parry India Ltd                  LT Loan            CRISIL AA-     3250.6  Reaffirmed
E.I.D. Parry India Ltd                  Proposed FB Bk     CRISIL AA-     1500    Reaffirmed
                                        Limits
E.I.D. Parry India Ltd                  Proposed LT Bk     CRISIL AA-     5915.4  Reaffirmed
                                        Loan Fac
E.I.D. Parry India Ltd                  NCD                CRISIL AA-     2000    -
E.I.D. Parry India Ltd                  NCD                CRISIL AA-     1000    -
Evershine Wood Packaging Pvt Ltd        CC                 CRISIL BB+     335     Assigned
Fena Pvt Ltd                            CC                 CRISIL A       150     Reaffirmed
Fransko Agro Foods                      CC                 CRISIL B       102.5   Reaffirmed
Fransko Agro Foods                      LT Loan            CRISIL B       29.5    Reaffirmed
Fransko Agro Foods                      Proposed LT Bk     CRISIL B       13      Assigned
                                        Loan Fac
Jehan Numa Palace Hotel Pvt Ltd         Proposed LT Bk     CRISIL BBB+    54      Reaffirmed
                                        Loan Fac
K S Subbiah Pillai and Company India    CC                 CRISIL A-      10      Reaffirmed
Pvt Ltd
K S Subbiah Pillai and Company India    Proposed LT Bk     CRISIL A-      16.6    Reaffirmed
Pvt Ltd                                 Loan Fac
K.P.Manish Global Ingredients Pvt Ltd   CC                 CRISIL BBB-    240     Reaffirmed
Kumar Autowheels Pvt Ltd                CC                 CRISIL BB      80      Reaffirmed
Kumar Autowheels Pvt Ltd                Electronic Dealer  CRISIL BB      100     Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Kumar Autowheels Pvt Ltd                TL                 CRISIL BB      15      Reaffirmed
M.L.Exports                             CC                 CRISIL A-      10      Reaffirmed
M/s. Sree Laxmi Constructions           Overdraft          CRISIL BB-     40      Reaffirmed
Maa Rewa Sugars Pvt Ltd                 CC                 CRISIL BB      100     Reaffirmed
Maa Rewa Sugars Pvt Ltd                 TL                 CRISIL BB      189.8   Reaffirmed
Maddi Lakshmaiah And Company Pvt Ltd    CC                 CRISIL A-      250     Reaffirmed
Maddi Lakshmaiah And Company Pvt Ltd    Proposed LT Bk     CRISIL A-      50      Reaffirmed
                                        Loan Fac
Manisha Projects Pvt Ltd                CC                 CRISIL BB      160     -
Downgraded from CRISIL BB+
Manisha Projects Pvt Ltd                Overdraft          CRISIL BB      30      -
Downgraded from CRISIL BB+
ML Agro Products Pvt Ltd                CC                 CRISIL A-      40      Reaffirmed
ML Agro Products Pvt Ltd                Proposed LT Bk     CRISIL A-      40      Reaffirmed
                                        Loan Fac
Nirav Metals Pvt Ltd                    CC                 CRISIL BB-     75      Reaffirmed
Prabhat Cables Pvt Ltd                  Electronic Dealer  CRISIL B+      200     Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Raghavendra Cotton Corporation          CC                 CRISIL BB-     110     Assigned
S P Singla Constructions Pvt Ltd        CC                 CRISIL A       2000    Reaffirmed
S P Singla Constructions Pvt Ltd        Proposed CC Limit  CRISIL A       100     Reaffirmed
S P Singla Constructions Pvt Ltd        TL                 CRISIL A       100     -
S. K. Exports                           Export Packing     CRISIL BB-     136     -
                                        Credit
Downgraded from CRISIL BB
Salasar Alloy and Steel Industries Pvt  CC                 CRISIL BBB-    160     Reaffirmed
Ltd
Salasar Alloy and Steel Industries Pvt  LT Loan            CRISIL BBB-    90      Assigned
Ltd
Saroj Landmark Realty LLP               LT Loan            CRISIL BB+     250     -
Upgraded from CRISIL BB
Shoft Shipyard Pvt Ltd                  LT Loan            CRISIL BBB     19.8    Reaffirmed
Shoft Shipyard Pvt Ltd                  Overdraft          CRISIL BBB     100     Reaffirmed
Shoft Shipyard Pvt Ltd                  Proposed WC Fac    CRISIL BBB     130.2   Assigned
Shreeraj Developer LLP                  Proposed LT Bk     CRISIL BB+     700     -
                                        Loan Fac
Upgraded from CRISIL BB
Shriram Transport Finance Co. Ltd       Sansar Trust Nov   CRISIL BBB+    171.6   Assigned
                                        2018 III Second    (SO) Equivalent
                                        loss Fac
Shriram Transport Finance Co. Ltd       Sansar Trust       CRISIL BBB+    187.6   Assigned
                                        September 2018 IV  (SO) Equivalent
                                        Second loss Fac
Shuvam Construction Pvt Ltd             Loan Against       CRISIL BB-     35      Assigned
                                        Property
Siddharth Infra Power Pvt Ltd           CC                 CRISIL B       65      Reaffirmed
Siddharth Infra Power Pvt Ltd           Standby FB Limits  CRISIL B       10      Reaffirmed
Sneham International                    CC                 CRISIL BBB-    30      Reaffirmed
Sneham International                    Standby Line of    CRISIL BBB-    2       Reaffirmed
                                        Credit
Sneham International                    TL                 CRISIL BBB-    51.8    Reaffirmed
Sneham International                    CC                 CRISIL BBB-    30      Reaffirmed
Sneham International                    Standby Line of    CRISIL BBB-    2       Reaffirmed
                                        Credit
Sneham International                    TL                 CRISIL BBB-    51.8    Reaffirmed
Sree Saradhambal Automobiles Erode Pvt  Inventory Funding  CRISIL BB-     35      Reaffirmed
Ltd                                     Fac
Sree Saradhambal Automobiles Erode Pvt  LT Loan            CRISIL BB-     45      Reaffirmed
Ltd
Sree Saradhambal Automobiles Pvt Ltd    Inventory Funding  CRISIL BB-     245     Reaffirmed
                                        Fac
Sree Saradhambal Automobiles Pvt Ltd    LT Loan            CRISIL BB-     110     Reaffirmed
Sri Balaji Agencies                     CC                 CRISIL B+      80      Reaffirmed
Sri Balaji Agencies                     Inventory Funding  CRISIL B+      50      Reaffirmed
                                        Fac
Sri Balaji Agencies                     Proposed LT Bk     CRISIL B+      20      Reaffirmed
                                        Loan Fac
Star Agro Marine Exports Pvt Ltd        Foreign Bill       CRISIL D       910     Reaffirmed
                                        Discounting
Star Agro Marine Exports Pvt Ltd        Foreign LOC        CRISIL D       140     Reaffirmed
Star Agro Marine Exports Pvt Ltd        LT Loan            CRISIL D       174.5   Reaffirmed
Star Agro Marine Exports Pvt Ltd        Packing Credit     CRISIL D       500     Reaffirmed
Star Agro Marine Exports Pvt Ltd        Standby LOC        CRISIL D       960     Reaffirmed
Steelex Precisions Pvt Ltd              CC                 CRISIL BB-     150     Reaffirmed
Steelex Precisions Pvt Ltd              TL                 CRISIL BB-     125     Reaffirmed
Surface Preparation Solutions and       CC                 CRISIL B       50      Reaffirmed
Technologies Pvt Ltd
Surface Preparation Solutions and       Proposed LT Bk     CRISIL B       7.9     Reaffirmed
Technologies Pvt Ltd                    Loan Fac
SVN Agro Refineries                     CC                 CRISIL B+      15      Upgraded from
                                                                                  CRISIL B
SVN Agro Refineries                     TL                 CRISIL B+      5       Upgraded from
                                                                                  CRISIL B
Tata Motors Finance Ltd                 INDIAN RECEIVABLE  CRISIL AAA (SO)6665.2  Assigned
                                        TRUST SEP18 A
                                        Series A PTCs
Tata Motors Finance Ltd                 INDIAN RECEIVABLE  CRISIL BBB+    466.6   Assigned
                                        TRUST SEP18 A      (SO) Equivalent
                                        Second loss Fac
Tata Motors Ltd                         FB Fac             CRISIL AA      80000   Reaffirmed
Tata Motors Ltd                         FB Fac^            CRISIL AA      10000   Reaffirmed
Thangamman Textiles - Coimbatore        BG                 CRISIL D       3.9     Rating
                                                                                  Migrated
Thangamman Textiles - Coimbatore        CC                 CRISIL D       27.5    Rating
                                                                                  Migrated
Thangamman Textiles - Coimbatore        TL                 CRISIL D       38.6    Rating
                                                                                  Migrated
The Naihati Jute Mills Co Ltd           CC                 CRISIL BB+     150     Reaffirmed
The Naihati Jute Mills Co Ltd           LT Loan            CRISIL BB+     14      Reaffirmed
The Naihati Jute Mills Co Ltd           Proposed LT Bk     CRISIL BB+     15      Assigned
                                        Loan Fac
The Republic Pvt Ltd                    CC                 CRISIL BBB-    122.5   Reaffirmed
The Republic Pvt Ltd                    Inventory Funding  CRISIL BBB-    80      Reaffirmed
                                        Fac
The Republic Pvt Ltd                    Loan Against       CRISIL BBB-    34.5    Reaffirmed
                                        Property
Tosoh India Pvt Ltd                     CC                 CRISIL BBB+    130     Reaffirmed
Total Transport Systems Ltd             CC                 CRISIL BB      162.5   Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Total Transport Systems Ltd             Proposed FB Bk     CRISIL BB      112.4   Downgraded
                                        Limits                                    from CRISIL
                                                                                  BB+
Total Transport Systems Ltd             TL                 CRISIL BB      15      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
U. P. Twiga Fiberglass Ltd              CC                 CRISIL A       50      Reaffirmed
U. P. Twiga Fiberglass Ltd              Proposed LT Bk     CRISIL A       239     Reaffirmed
                                        Loan Fac
Unitop Aquacare Ltd                     TL                 CRISIL BBB-    72.5    Assigned
Unitop Aquacare Ltd                     CC                 CRISIL BBB-    80      Assigned
Vinay Poultry Farm Pvt Ltd              LT Loan            CRISIL D       80      Assigned
Walsons Services Pvt Ltd                Corporate Credit   CCR A+                 Assigned
                                        Rating
Wellknown Polyesters Ltd                CC                 CRISIL A+      7370    Assigned
Wellknown Polyesters Ltd                External           CRISIL A+      2151    Assigned
                                        Commercial
                                        Borrowings
Wellknown Polyesters Ltd                Foreign Currency TLCRISIL A+      2558.4  Assigned
Wellknown Polyesters Ltd                Proposed CC Limit  CRISIL A+      130     Assigned
Wellknown Polyesters Ltd                Proposed WC Fac    CRISIL A+      3265.6  Assigned
Wellknown Polyesters Ltd                Rupee TL           CRISIL A+      2525    Assigned
Windar Renewable Energy Pvt Ltd         Proposed LT Bk     CRISIL BBB     200     Reaffirmed
                                        Loan Fac
Windar Renewable Energy Pvt Ltd         TL                 CRISIL BBB     310     Reaffirmed
Yogeshwar Timber Mart                   CC                 CRISIL B       10      Reaffirmed
Migrated from CRISIL B (Issuer Not Cooperating)
Yogeshwar Timber Mart                   Proposed LT Bk     CRISIL B       4.7     Reaffirmed
                                        Loan Fac
Migrated from CRISIL B (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.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222 , E-mail at
rru.data@thomsonreuters.com)
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