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Company News

CRISIL ratings for Indian debt instruments-Apr 9

    Apr 9 - Below are the ratings awarded by Credit Rating Information Service of India (CRISIL)
for local debt instruments as of April 8, 2020.


COMPANY                                INSTRUMENT        RATING        AMOUNT MOVEMENT
                                                                      (RS.MLN)
------                                 ----------        ------        -----  ---------
SHORT TERM RATINGS:
-------------------
Bharat Petroleum Corporation Ltd       Proposed NFBL     CRISIL A1+    1100   Reaffirmed
Bharat Petroleum Corporation Ltd       Proposed NFBL@@   CRISIL A1+    19825  Reaffirmed
(@@Equivalent to USD 325 million. 1 USD=INR 61)
Bharat Petroleum Corporation Ltd       Non-FBL           CRISIL A1+    163120 Reaffirmed
Bharat Petroleum Corporation Ltd       ST Debt           CRISIL A1+    150000 Reaffirmed
Bharat Petroleum Corporation Ltd       CP                CRISIL A1+    135000 Reaffirmed
 
Cleena Industries Pvt Ltd              BG                CRISIL A4+    10     Reaffirmed
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING)
Cleena Industries Pvt Ltd              LOC               CRISIL A4+    100    Reaffirmed
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING)
Damara Gold Pvt Ltd                    Proposed BG       CRISIL A3+    30     Reaffirmed
(Removed from 'Rating Watch with Negative Implications'; Rating )
Eastern Home Industries                Foreign Bill      CRISIL A4+    20     Withdrawn
                                       Discounting
Eastern Home Industries                Packing Credit    CRISIL A4+    100    Withdrawn
Eastern Mills Pvt Ltd                  Foreign Bill      CRISIL A4+    27.5   Reaffirmed
                                       Purchase
Eastern Mills Pvt Ltd                  Packing Credit    CRISIL A4+    72.5   Reaffirmed
JWC Logistics Park Pvt Ltd             BG                CRISIL A2+    50     Reaffirmed
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed)
JWL Cold Store Pvt Ltd                 BG                CRISIL A2+    70     Reaffirmed
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed)
JWR Logistics Pvt Ltd                  BG                CRISIL A2+    40     Reaffirmed
(Removed from 'Rating Watch with Developing Implications'; Rating )
JWR Logistics Pvt Ltd                  Overdraft         CRISIL A2+    30     Reaffirmed
(Removed from 'Rating Watch with Developing Implications'; Rating )
Malankara Orthodox Syrian Church       BG                CRISIL A4+    70     Withdrawn
Medical Mission
Malankara Orthodox Syrian Church       CC                CRISIL A4+    50     Withdrawn
Medical Mission
Malankara Orthodox Syrian Church       LOC               CRISIL A4+    7.5    Withdrawn
Medical Mission
Malankara Orthodox Syrian Church       LT Loan           CRISIL A4+    308.5  Withdrawn
Medical Mission
Malankara Orthodox Syrian Church       Proposed LT Bk    CRISIL A4+    49     Withdrawn
Medical Mission                        Loan Fac
Plaza Power and Infrastructure Company BG                CRISIL A4+    30     Reaffirmed
Plaza Power and Infrastructure Company LOC               CRISIL A4+    30     Reaffirmed
Prolific Systems and Technologies Pvt  LOC & BG          CRISIL A4+    180    -
Ltd
(Downgraded from 'CRISIL A3'; Removed from 'Rating Watch with Developing  Implications' )
Rajesh Industries                      Proposed Packing  CRISIL A4+    80     Reaffirmed
                                       Credit
Sudarshan Electrical Engg. Works       BG                CRISIL A4     140    -
(Upgraded from 'CRISIL D' )
Supreme Paper Mills Ltd                LOC               CRISIL A4+    30     Assigned
Supreme Paper Mills Ltd                BG                CRISIL A4+    25     Assigned
The Cotton and Textile Corp            BG                CRISIL A4     5      Assigned
The Cotton and Textile Corp            Packing Credit    CRISIL A4     10     Assigned
The Cotton and Textile Corp            LOC               CRISIL A4     40     Assigned
 
 
LONG TERM RATINGS:
-------------------
Alamdar Cold Store                     CC                CRISIL D      30     Reaffirmed
Alamdar Cold Store                     LT Loan           CRISIL D      241.4  Reaffirmed
Alamdar Cold Store                     Proposed LT Bk    CRISIL D      8.6    Reaffirmed
                                       Loan Fac
Ansec Human Resource Services Ltd      Drop Line         CRISIL        40.2   Reaffirmed
                                       Overdraft Fac     BBB-/Stable
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed)
Ansec Human Resource Services Ltd      Proposed CC Limit CRISIL        100    Reaffirmed
                                                         BBB-/Stable
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed)
Ansec Human Resource Services Ltd      Proposed TL       CRISIL        16.3   Reaffirmed
                                                         BBB-/Stable
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed)
Ansec Human Resource Services Ltd      TL                CRISIL        43.5   Reaffirmed
                                                         BBB-/Stable
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed)
Apollo Tricoat Tubes Ltd               FB Fac*           CRISIL        1350   Assigned
                                                         AA-/Stable
(*Interchangeable with Non-fund based limits)
Apollo Tricoat Tubes Ltd               TL                CRISIL        1100   Assigned
                                                         AA-/Stable
Bharat Petroleum Corporation Ltd       FB Fac*           CRISIL AAA    228550 Reaffirmed
(*Rs 3690.0 crore is interchangeable with non-fund-based facilities)
Bharat Petroleum Corporation Ltd       FB Fac#           CRISIL AAA    99125  Reaffirmed
(#Equivalent to USD 1625 million. 1 USD=INR 61)
Bharat Petroleum Corporation Ltd       Proposed FB Bk    CRISIL AAA    6100   Reaffirmed
                                       Limits
(Continues on 'Rating Watch with Developing Implications')
Bharat Petroleum Corporation Ltd       Proposed FB Bk    CRISIL AAA    165615 Reaffirmed
                                       Limits$
($Equivalent to USD 2715 million. 1 USD=INR 61)
Bharat Petroleum Corporation Ltd       NCD               CRISIL AAA    15000  -
(Continues on 'Rating Watch with Developing Implications)
Bharat Petroleum Corporation Ltd       NCD               CRISIL AAA    10000  -
(Continues on 'Rating Watch with Developing Implications)
Bharat Petroleum Corporation Ltd       NCD               CRISIL AAA    10000  -
(Continues on 'Rating Watch with Developing Implications)
Cleena Industries Pvt Ltd              CC                CRISIL        175    Reaffirmed
                                                         BB+/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING)
Cleena Industries Pvt Ltd              LT Loan           CRISIL        213    Reaffirmed
                                                         BB+/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING)
Cleena Industries Pvt Ltd              Proposed LT Bk    CRISIL        127    Reaffirmed
                                       Loan Fac          BB+/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING)
Damara Gold Pvt Ltd                    Proposed WC Fac   CRISIL        33     Reaffirmed
                                                         BBB/Negative
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed)
Damara Gold Pvt Ltd                    Rupee TL          CRISIL        108    Reaffirmed
                                                         BBB/Negative
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed)
Damara Gold Pvt Ltd                    WC Fac            CRISIL        690    Reaffirmed
                                                         BBB/Negative
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed)
Eastern Mills Pvt Ltd                  Proposed LT Bk    CRISIL        17     Reaffirmed
                                       Loan Fac          BB+/Stable
Frisco Global Pvt Ltd                  Proposed CC Limit -             250    Withdrawn
Frisco Global Pvt Ltd                  Proposed TL       -             250    Withdrawn
Ghasiram VNM Industries Pvt Ltd        CC                CRISIL        25     Withdrawn
                                                         B+/Stable
Ghasiram VNM Industries Pvt Ltd        LT Loan           CRISIL        86     Withdrawn
                                                         B+/Stable
JWC Logistics Park Pvt Ltd             CC                CRISIL        90     Reaffirmed
                                                         A-/Negative
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed)
JWC Logistics Park Pvt Ltd             Proposed TL       CRISIL        478.9  Reaffirmed
                                                         A-/Negative
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed)
JWC Logistics Park Pvt Ltd             TL                CRISIL        801.1  Reaffirmed
                                                         A-/Negative
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed)
JWL Cold Store Pvt Ltd                 CC                CRISIL        20     Reaffirmed
                                                         A-/Negative
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed)
JWL Cold Store Pvt Ltd                 Proposed TL       CRISIL        67.1   Reaffirmed
                                                         A-/Negative
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed)
JWL Cold Store Pvt Ltd                 TL                CRISIL        297.2  Reaffirmed
                                                         A-/Negative
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed)
JWR Logistics Pvt Ltd                  Proposed TL       CRISIL        115.4  Reaffirmed
                                                         A-/Negative
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed)
JWR Logistics Pvt Ltd                  TL                CRISIL        377.7  Reaffirmed
                                                         A-/Negative
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed)
Likith Agro Foods Pvt Ltd              CC                CRISIL        100    Reaffirmed
                                                         BB-/Stable
Maa Shakumbari Sponge Pvt Ltd          CC                CRISIL        39.7   -
                                                         B-/Stable
(Upgraded from 'CRISIL D)
Maa Shakumbari Sponge Pvt Ltd          Funded Interest TL CRISIL       13.3   -
                                                         B-/Stable
(Upgraded from 'CRISIL D)
Maa Shakumbari Sponge Pvt Ltd          WC TL             CRISIL        7      -
                                                         B-/Stable
(Upgraded from 'CRISIL D)
Mistair Health And Hygiene Pvt Ltd     CC                CRISIL        50     -
                                                         BB-/Stable
(Upgraded from 'CRISIL B+/Stable)
Mistair Health And Hygiene Pvt Ltd     Proposed WC Fac   CRISIL        65     -
                                                         BB-/Stable
(Upgraded from 'CRISIL B+/Stable)
Mistair Health And Hygiene Pvt Ltd     TL                CRISIL        135    -
                                                         BB-/Stable
(Upgraded from 'CRISIL B+/Stable)
NeuroGen Brain And Spine Institute     Proposed TL       CRISIL        100    Reaffirmed
                                                         BB/Stable
(Removed from 'Rating Watch with Developing Implications'; Rating )
NeuroGen Brain And Spine Institute     TL                CRISIL        120    Reaffirmed
                                                         BB/Stable
(Removed from 'Rating Watch with Developing Implications'; Rating )
Neuton Auto Pvt Ltd                    Proposed LT Bk    -             500    Withdrawn
                                       Loan Fac
Plaza Power and Infrastructure Company CC                CRISIL        70     Reaffirmed
                                                         BB/Stable
Popular Auto Dealers Pvt Ltd           BG                -             95     Withdrawn
Popular Auto Dealers Pvt Ltd           CC                -             66     Withdrawn
Popular Auto Dealers Pvt Ltd           Channel Financing -             30     Withdrawn
Popular Auto Dealers Pvt Ltd           Proposed LT Bk    -             1      Withdrawn
                                       Loan Fac
Priceless Overseas Ltd                 CC                -             75.5   Withdrawn
Priceless Overseas Ltd                 Foreign LOC       -             49.5   Withdrawn
Prolific Systems and Technologies Pvt  CC                CRISIL        270    -
Ltd                                                      BB/Negative
(Downgraded from 'CRISIL BBB-' Removed from 'Rating Watch with Developing  Implications')
Rajdeep Traders                        Overdraft         CRISIL        4      Assigned
                                                         B+/Stable
Rajdeep Traders                        Proposed LT Bk    CRISIL        46     Assigned
                                       Loan Fac          B+/Stable
Rajesh Industries                      CC*               CRISIL        200    Reaffirmed
                                                         BB/Stable
(* 100% Interchangeable with Packing Credit)
Shakti Vegetables and Fruits Storage   CC                CRISIL        2.5    -
                                                         B/Stable
(Downgraded from 'CRISIL B+/Stable)
Shakti Vegetables and Fruits Storage   TL                CRISIL        97.5   -
                                                         B/Stable
(Downgraded from 'CRISIL B+/Stable)
Shree Agencies-Jammu                   CC                CRISIL BB-    100    Reaffirmed
Shreya Life Sciences Pvt Ltd           CC                CRISIL D      642.3  Reaffirmed
Shreya Life Sciences Pvt Ltd           Funded Interest TL CRISIL D     89.5   Reaffirmed
Shreya Life Sciences Pvt Ltd           LOC               CRISIL D      112.5  Reaffirmed
Shreya Life Sciences Pvt Ltd           LT Bk Fac         CRISIL D      412.5  Reaffirmed
Shreya Life Sciences Pvt Ltd           Proposed LT Bk    CRISIL D      391.2  Reaffirmed
                                       Loan Fac
Shreya Life Sciences Pvt Ltd           WC Demand Loan    CRISIL D      40     Reaffirmed
Shreya Life Sciences Pvt Ltd           WC TL             CRISIL D      212    Reaffirmed
Sindh Garment                          CC                CRISIL        110    Withdrawn
                                                         BB/Stable
Sindh Garment                          LT Loan           CRISIL        125    Withdrawn
                                                         BB/Stable
Sonata Information Technology Ltd      CC*               CRISIL        1105   Reaffirmed
                                                         A+/Stable
(*Fully interchangeable with working capital loan)
Sonata Information Technology Ltd      CC                CRISIL        405    Reaffirmed
                                                         A+/Stable
(Outlook revised from 'Positive' and rating)
Sonata Information Technology Ltd      WC Fac^           CRISIL        3395   Reaffirmed
                                                         A+/Stable
(^Interchangeable with Bank Guarantee)
Sonata Software Ltd                    WC Fac*           CRISIL        500    Reaffirmed
                                                         A+/Stable
(*Fully interchangeable between fund- and non-fund-based limits)
Sudarshan Electrical Engg. Works       Proposed FB Bk    CRISIL        60     -
                                       Limits            B-/Stable
(Upgraded from 'CRISIL D)
Supreme Paper Mills Ltd                Proposed LT Bk    CRISIL        85     Assigned
                                       Loan Fac          BB+/Stable
Supreme Paper Mills Ltd                CC                CRISIL        110    Assigned
                                                         BB+/Stable
The Cotton and Textile Corp            Packing Credit    CRISIL        90     Assigned
                                                         B+/Stable
Vaayu Renewable Energy (Tapti) Pvt Ltd LT Loan           CRISIL        1160   Reaffirmed
                                                         BBB-/Stable
(Removed from 'Rating Watch with Developing Implications'; Rating Reaffirmed )
--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)
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