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CRISIL ratings for Indian debt instruments-Dec 31
December 31, 2013 / 6:22 AM / 4 years ago

CRISIL ratings for Indian debt instruments-Dec 31

Dec 31 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 30, 2013.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
AIA Engineering Ltd                   LOC & BG^          CRISIL A1+     500     Reaffirmed
^Bank Guarantee is a sub-limit (of Rs.200 Million) of the total limit
AIA Engineering Ltd                   CP                 CRISIL A1+     100     Withdrawal
Antony Garages Pvt Ltd                BG                 CRISIL A4+     80      Reaffirmed
Antony Garages Pvt Ltd                LOC                CRISIL A4+     10      Reaffirmed
Central Bank of India                 CD Programme       CRISIL A1+     200000  Reaffirmed
Chawla Techno Construct Ltd           BG                 CRISIL A4+     150     Reaffirmed
Coochbehar Tea Co. Ltd                BG                 CRISIL A4+     3       Assigned
Damodar Valley Corporation            BG                 CRISIL A1      545     Notice of
                                                                                Withdrawal
Damodar Valley Corporation            LOC                CRISIL A1      515     Notice of
                                                                                Withdrawal
Danieli India Ltd                     LOC & BG           CRISIL A2+     4500    -
Expert Industries Pvt Ltd             BG                 CRISIL A4+     40      Assigned
J.M. International                    Buyer Credit Limit CRISIL A4      120     Assigned
Kaneriya Oil Industries               BG                 CRISIL A3      3       Assigned;
                                                                                Suspension
                                                                                Revoked
Kanishka Carbons Pvt Ltd              LOC                CRISIL A4      4       Assigned
Kanishka Carbons Pvt Ltd              BG                 CRISIL A4      1       Assigned
Khandelwal Fibers                     Standby Line of    CRISIL A4      10      Assigned
                                      Credit
Kohinoor India Pvt Ltd                BG                 CRISIL A4      3       Suspended
Kohinoor India Pvt Ltd                LOC                CRISIL A4      47      Suspended
Kohli Industries                      LOC & BG           CRISIL A4      10      Reaffirmed
Kohli Industries                      Packing Credit     CRISIL A4      20      Reaffirmed
Lonestar Industries                   BG*                CRISIL A3+     120     Assigned;
                                                                                Suspension
                                                                                Revoked
* Fully Interchangeable With Letter Of Credit
Manchanda Medicos                     BG                 CRISIL A4      20      Assigned
Manchanda Medicos                     LOC                CRISIL A4      60      Assigned
Maxim Tubes Company Pvt Ltd           Bill Discounting   CRISIL A4      70      Reaffirmed
                                      under LOC
Maxim Tubes Company Pvt Ltd           LOC                CRISIL A4      170     Reaffirmed
Maxim Tubes Company Pvt Ltd           Packing Credit     CRISIL A4      70      Reaffirmed
My Home Industries Ltd                LOC & BG           CRISIL A1+     500     Reaffirmed
My Home Industries Ltd                Proposed ST Bk     CRISIL A1+     1500    Reaffirmed
                                      Loan Fac
My Home Industries Ltd                CP                 CRISIL A1+     750     Reaffirmed
Naxalbari Flour & Rice Mill Pvt Ltd   Letter Of GuaranteeCRISIL A4      6       Assigned
Nova Publications & Printers Pvt Ltd  BG                 CRISIL A3      5       Assigned
P.N.Gadgil Jewellers Pvt Ltd          BG                 CRISIL A2      450     Assigned
Pashupati Capital Services Pvt Ltd    BG                 CRISIL A4+     1200    Reaffirmed
PNB Housing Finance Ltd               CP                 CRISIL A1+     3000    Reaffirmed
Rawatsons Engineers Pvt Ltd           BG                 CRISIL A4+     120     Reaffirmed
Sambandam Siva Textiles (P) Ltd       BG                 CRISIL A4      25      Reaffirmed
Sambandam Siva Textiles (P) Ltd       LOC                CRISIL A4      40      Reaffirmed
Sambandam Spinning Mills Ltd          BG                 CRISIL A4+     35      -
Sambandam Spinning Mills Ltd          LOC                CRISIL A4+     87.5    -
San Engineering & Locomotive Co. Ltd  BG                 CRISIL A2+     480     Reaffirmed
San Engineering & Locomotive Co. Ltd  LOC                CRISIL A2+     75      Reaffirmed
Shiva Texfabs Ltd                     LOC*               CRISIL D       160     Downgraded
                                                                                from 'CRISIL
                                                                                A3'
* One way interchangeability from letter of credit (LC) limit to fund-based working capital
(FBWC) limit of Rs.75 Million
Siyaram Silk Mills Ltd                BG                 CRISIL A1      75      Reaffirmed
Siyaram Silk Mills Ltd                LOC                CRISIL A1      117.5   Reaffirmed
Sprint Exports Pvt Ltd                Standby Line of    CRISIL A4+     10      Reaffirmed
                                      Credit
Sprint Exports Pvt Ltd                Packing Credit^    CRISIL A4+     150     Reaffirmed
^Fully interchangeable with Foreign Discounting Bill Purchase
Sprint Exports Pvt Ltd                Foreign            CRISIL A4+     189.6   Reaffirmed
                                      Discounting Bill
                                      Purchase#^
# 30 per cent interchangeability from post-shipment limit to pre-shipment limit; ^Fully
interchangeable with Foreign Discounting Bill Purchase
Sri Kalyani Agro Products & IndustriesLOC                CRISIL D       20      Downgraded
Ltd                                                                             from 'CRISIL
                                                                                A4'
Sri Seethalakshmi Steel Castings Pvt LLOC                CRISIL A4      5       Downgraded
                                                                                from CRISIL
                                                                                A4+
Synthokem Labs Pvt Ltd                LOC                CRISIL A4+     40      Reaffirmed
Synthokem Labs Pvt Ltd                Export Packing     CRISIL A4+     75      Reaffirmed
                                      Credit
Synthokem Labs Pvt Ltd                BG                 CRISIL A4+     9       Reaffirmed
Synthokem Labs Pvt Ltd                Foreign            CRISIL A4+    15      Reaffirmed
                                      Discounting Bill
                                      Purchase
The Mittal Udyog Samiti               Packing Credit     CRISIL A4      400     Reaffirmed
The Republic Pvt Ltd                  BG                 CRISIL A3      25      Assigned
Theon Pharmaceuticals Ltd             LOC                CRISIL A2      70      Reaffirmed
Threads (India) Ltd                   BG                 CRISIL A1      10      Reaffirmed
Threads (India) Ltd                   LOC                CRISIL A1      75      Reaffirmed
Vanjax Sales Pvt Ltd                  BG                 CRISIL A4+     20      Assigned
Zenith Industrial Rubber Products Pvt BG                 CRISIL A3+     50      Reaffirmed
Ltd
Zenith Industrial Rubber Products Pvt Bill Purchase-     CRISIL A3+     200     Reaffirmed
Ltd                                   Discounting Fac
Zenith Industrial Rubber Products Pvt LOC                CRISIL A3+     140     Reaffirmed
Ltd
Zenith Industrial Rubber Products Pvt Packing Credit     CRISIL A3+     120     Reaffirmed
Ltd
Zenith Industrial Rubber Products Pvt Standby Line of    CRISIL A3+     19.8    Reaffirmed
Ltd                                   Credit

MEDIUM TERM RATINGS:
-------------------
PNB Housing Finance Ltd               FD Programme       FAAA                   Upgraded from
                                                                                CRISIL FAA+
LONG TERM RATINGS:
-------------------
AIA Engineering Ltd                   CC & WC demand     CRISIL AA+     1000    Upgraded from
                                      loan*                                     CRISIL AA
*Interchangeable with usance bill discounting, export packing credit, foreign bills discounting,
and letter of credit
Antony Garages Pvt Ltd                CC                 CRISIL BB-     207     Downgraded
                                                                                from 'CRISIL
                                                                                BB
Antony Garages Pvt Ltd                Standby Line of    CRISIL BB-     33      Downgraded
                                      Credit                                    from 'CRISIL
                                                                                BB
Antony Garages Pvt Ltd                TL                 CRISIL BB-     42.5    Downgraded
                                                                                from 'CRISIL
                                                                                BB
Arviva Industries (India) Ltd         BG                 CRISIL D       15      Suspended
Arviva Industries (India) Ltd         Bill Purchase-     CRISIL D       57.5    Suspended
                                      Discounting Fac
Arviva Industries (India) Ltd         CC                 CRISIL D       184     Suspended
Arviva Industries (India) Ltd         LOC                CRISIL D       104     Suspended
Arviva Industries (India) Ltd         LT Loan            CRISIL D       52.4    Suspended
Arviva Industries (India) Ltd         Packing Credit*    CRISIL D       87      Suspended
*Rs.60 million out of Rs.87 million is interchangeble with Post Shipment Credit upto 25%.
Arviva Industries (India) Ltd         Proposed LT Bk     CRISIL D       114.4   Suspended
                                      Loan Fac
Arviva Industries (India) Ltd         WC Demand Loan     CRISIL D       179     Suspended
Aseem Autos Pvt Ltd                   TL                 CRISIL BB-     2.5     Assigned
Aseem Autos Pvt Ltd                   CC                 CRISIL BB-     70      Assigned
Aseem Autos Pvt Ltd                   Standby Line of    CRISIL BB-     10      Assigned
                                      Credit
Aura Hotels & Resorts Pvt Ltd         Proposed LT Bk     CRISIL B+      50      Assigned
                                      Loan Fac
Aura Hotels & Resorts Pvt Ltd         TL                 CRISIL B+      350     Assigned
B. Nishant Jewels Pvt Ltd             CC                 CRISIL B+      150     Downgraded
                                                                                from 'CRISIL
                                                                                BB
Bansal Finefoods Pvt Ltd              CC*                CRISIL BB-     300     Reaffirmed
* Includes Rs.250 Million sub-limit of export packing credit (EPC). EPC further includes Rs.150
Million sub-limit of foreign bill purchase (non-letter of credit).
Bansal Finefoods Pvt Ltd              Proposed LT Bk     CRISIL BB-     90      Reaffirmed
                                      Loan Fac
Bansal Finefoods Pvt Ltd              Standby Line of    CRISIL BB-     60      Reaffirmed
                                      Credit
Bhujbal Brothers Properties           TL                 CRISIL D       100     Assigned
BRC Infra Pvt Ltd                     Secured Overdraft  CRISIL BB-     50      Assigned
                                      Fac
Buildtek Polymers Pvt Ltd             CC                 CRISIL BB-     45      Assigned
Buildtek Polymers Pvt Ltd             LT Loan            CRISIL BB-     5       Assigned
Central Bank of India                 Tier-II Bond Issue CRISIL AA      20000   Reaffirmed
                                      (Under Basel III)
Central Bank of India                 Lower Tier-II BondsCRISIL AA      23000   Reaffirmed
Central Bank of India                 Tier-I Perpetual   CRISIL AA-     5000    Downgraded
                                      Bond Issue                                from 'CRISIL
                                                                                AA
Central Bank of India                 Upper Tier-II BondsCRISIL AA-     6000    Downgraded
                                                                                from 'CRISIL
                                                                                AA
Chandra Ship Management Pvt Ltd       WC Demand Loan     CRISIL BB      10      Assigned
Chandra Ship Management Pvt Ltd       CC                 CRISIL BB      12.5    Assigned
Chandra Ship Management Pvt Ltd       LT Loan            CRISIL BB      127.5   Assigned
Chawla Techno Construct Ltd           TL                 CRISIL BB+     80      Reaffirmed
Chawla Techno Construct Ltd           Proposed LT Bk     CRISIL BB+     14.1    Reaffirmed
                                      Loan Fac
Classic Products Pvt Ltd              CC                 CRISIL BB-     72.5    Downgraded
                                                                                from 'CRISIL
                                                                                BB
Coochbehar Tea Co. Ltd                TL                 CRISIL BB-     32      Assigned
Coochbehar Tea Co. Ltd                CC                 CRISIL BB-     25      Assigned
Damodar Valley Corporation            CC                 CRISIL A+      1836    Notice of
                                                                                Withdrawal
Damodar Valley Corporation            TL                 CRISIL A+      41520   Notice of
                                                                                Withdrawal
Damodar Valley Corporation            Proposed LT Bk     CRISIL A+      5584    Withdrawal
                                      Loan Fac
Damodar Valley Corporation            Bond Programme     CRISIL A+      1300    Withdrawn
Danieli India Ltd                     CC                 CRISIL A-      1150    -
Danieli India Ltd                     LT Loan^           CRISIL A-      1500    -
^ Loan from parent company (Danieli & C. Officine Meccaniche S.P.A.)
Danieli India Ltd                     Proposed LT Bk     CRISIL A-      500     -
                                      Loan Fac
Danieli India Ltd                     TL                 CRISIL A-      1350    -
Eco-Care Building Products Pvt Ltd    CC                 CRISIL BB-     30      Upgraded from
                                                                                CRISIL B+
Eco-Care Building Products Pvt Ltd    LT Loan            CRISIL BB-     70      Upgraded from
                                                                                CRISIL B+
Equitas Finance Pvt Ltd               Proposed LT Bk     CRISIL BBB     1000    Assigned
                                      Loan Fac
Expert Industries Pvt Ltd             LT Loan            CRISIL BB      71.5    Assigned
Expert Industries Pvt Ltd             CC*                CRISIL BB      45      Assigned
* Includes three sub limits: (1) Letter of Credit of Rs.30.0 Million (2)Packing credit of
Rs.45.0 Million and (3)Foreign Billl Discounting of Rs.20.0 Million
Hari Darshan Exports                  Export Packing     CRISIL BB+     120     Upgraded from
                                      Credit                                    CRISIL BB
**Includes the sublimit for Export Pre-Finance of Rs.450.00 million.
Hari Darshan Exports                  Post Shipment      CRISIL BB+     450     Upgraded from
                                      Credit**                                  CRISIL BB
Hari Darshan Exports                  Post Shipment      CRISIL BB+     180     Upgraded from
                                      Credit                                    CRISIL BB
Indicon Construction Pvt Ltd          CC                 CRISIL B       40      Assigned
J.M. International                    CC                 CRISIL B       35      Assigned
Kaneriya Oil Industries               CC                 CRISIL BBB-    370     Assigned;
                                                                                Suspension
                                                                                Revoked
Kanishka Carbons Pvt Ltd              CC-Stock           CRISIL B+      45      Assigned
Kanishka Carbons Pvt Ltd              CC - Book Debt     CRISIL B+      30      Assigned
Khandelwal Fibers                     TL                 CRISIL B+      17.5    Assigned
Khandelwal Fibers                     CC                 CRISIL B+      70      Assigned
Khandelwal Fibers                     Proposed LT Bk     CRISIL B+      2.5     Assigned
                                      Loan Fac
Kohinoor India Pvt Ltd                CC                 CRISIL B-      100     Suspended
Kohli Industries                      Overdraft Fac      CRISIL B+      70      Upgraded from
                                                                                CRISIL B
Kotak Mahindra Investments Ltd        NCD Issue          CRISIL AA+     3150    Assigned
Kotak Mahindra Investments Ltd        NCD Issue          CRISIL AA+     100     Assigned
Kotak Mahindra Investments Ltd        NCDs               CRISIL AA+     3250    Reaffirmed
Kotak Mahindra Investments Ltd        Principal-         CRISIL PP-MLD  750     Reaffirmed
                                      Protected Market-  AA+r
                                      Linked Debentures
Lonestar Industries                   CC                 CRISIL BBB     30      Assigned;
                                                                                Suspension
                                                                                Revoked
Lonestar Industries                   TL                 CRISIL BBB     25      Assigned;
                                                                                Suspension
                                                                                Revoked
M. P. Ceramics                        CC                 CRISIL BB      95      Reaffirmed
M. P. Ceramics                        Proposed LT Bk     CRISIL BB      25      Reaffirmed
                                      Loan Fac
M. P. Ceramics                        Rupee TL           CRISIL BB      30      Reaffirmed
Magma Fincorp Ltd- MFL's Assignment ofSecond loss Fac    CRISIL AA-     120.8   Withdrawn
Receivables - March 2011 IV                              (SO) Equivalent
Magma Fincorp Ltd- MFL's Assignment ofAcquirer payouts   CRISIL AAA     1170.5  Withdrawn
Receivables - March 2011 IV                              (SO) Equivalent
Manchanda Medicos                     Overdraft Fac      CRISIL B+      60      Assigned
Maxim Tubes Company Pvt Ltd           CC                 CRISIL B+      50      Reaffirmed
Maxim Tubes Company Pvt Ltd           Credit Limit Under CRISIL B+      14      Reaffirmed
                                      Gold Card
Maxim Tubes Company Pvt Ltd           Proposed LT Bk     CRISIL B+      4.4     Reaffirmed
                                      Loan Fac
Maxim Tubes Company Pvt Ltd           TL                 CRISIL B+      61.6    Reaffirmed
Naxalbari Flour & Rice Mill Pvt Ltd   TL                 CRISIL B       90      Assigned
Naxalbari Flour & Rice Mill Pvt Ltd   CC                 CRISIL B       40      Assigned
Nova Publications & Printers Pvt Ltd  TL                 CRISIL BBB-    93.3    Assigned
Nova Publications & Printers Pvt Ltd  Proposed LT Bk     CRISIL BBB-    131.7   Assigned
                                      Loan Fac
Nova Publications & Printers Pvt Ltd  CC                 CRISIL BBB-    70      Assigned
P.N.Gadgil Jewellers Pvt Ltd          Proposed LT Bk     CRISIL BBB+    450     Assigned
                                      Loan Fac
P.N.Gadgil Jewellers Pvt Ltd          CC                 CRISIL BBB+    550     Assigned
P.N.Gadgil Jewellers Pvt Ltd          CC*                CRISIL BBB+    400     Assigned
* Fully interchangeable with Bank guarantee and Standby line of Credit
Padigela Ginning Industries           CC                 CRISIL BB-     75      Assigned
Padigela Ginning Industries           LT Loan            CRISIL BB-     5       Assigned
Parikh Investment and Development Pvt TL                 CRISIL B+      200     Assigned
Ltd
Pashupati Capital Services Pvt Ltd    Overdraft Fac      CRISIL BB+     60      Reaffirmed
PMA Constructions Pvt Ltd             TL                 CRISIL BB-     97      Assigned
PMA Constructions Pvt Ltd             CC                 CRISIL BB-     50      Assigned
PMA Constructions Pvt Ltd             Proposed LT Bk     CRISIL BB-     53      Assigned
                                      Loan Fac
PNB Housing Finance Ltd               LT Loan            CRISIL AA+     18.65   Upgraded from
                                                                                CRISIL AA
PNB Housing Finance Ltd               Proposed LT Bk     CRISIL AA+     18.65   Upgraded from
                                      Loan Fac                                  CRISIL AA
PNB Housing Finance Ltd               NCDs               CRISIL AA+     30750   Upgraded from
                                                                                CRISIL AA
PNB Housing Finance Ltd               Lower Tier II BondsCRISIL AA+     3000    Upgraded from
                                                                                CRISIL AA
PNB Housing Finance Ltd               Bonds              CRISIL AA+     11000   Upgraded from
                                                                                CRISIL AA
Punjab & Sind Bank                    Lower Tier- II     CRISIL AA      5000    Downgraded
                                      Bonds                                     from CRISIL
                                                                                AA+
Reliance Cellulose Products Ltd       CC                 CRISIL D       180     Reaffirmed
Reliance Cellulose Products Ltd       TL                 CRISIL D       185     Reaffirmed
Reliance Cellulose Products Ltd       BG                 CRISIL D       5       Reaffirmed
Reliance Cellulose Products Ltd       LOC                CRISIL D       30      Reaffirmed
Sagar Steels                          CC                 CRISIL BB      150     Assigned
Sagar Steels                          Proposed LT Bk     CRISIL BB      35      Assigned
                                      Loan Fac
Sambandam Siva Textiles (P) Ltd       CC                 CRISIL B       44      Reaffirmed
Sambandam Siva Textiles (P) Ltd       Overdraft Fac      CRISIL B       38.5    Reaffirmed
Sambandam Siva Textiles (P) Ltd       WC TL              CRISIL B       90      Reaffirmed
Sambandam Siva Textiles (P) Ltd       Proposed LT Bk     CRISIL B       122     Reaffirmed
                                      Loan Fac
Sambandam Spinning Mills Ltd          CC                 CRISIL BB+     370     -
Sambandam Spinning Mills Ltd          LT Loan            CRISIL BB+     765     -
Sambandam Spinning Mills Ltd          Proposed LT Bk     CRISIL BB+     31.9    -
                                      Loan Fac
Sambandam Spinning Mills Ltd          WC TL              CRISIL BB+     200     -
San Engineering & Locomotive Co. Ltd  CC                 CRISIL A-      120     Reaffirmed
Shiva Texfabs Ltd                     TL                 CRISIL D       3574.3  Downgraded
                                                                                from 'CRISIL
                                                                                BBB-
Shiva Texfabs Ltd                     CC                 CRISIL D       4180    Downgraded
                                                                                from 'CRISIL
                                                                                BBB-
Shree Krishna Poly Strap Pvt Ltd      LT Loan            CRISIL D       115     Reaffirmed
Shree Krishna Poly Strap Pvt Ltd      CC                 CRISIL D       65      Reaffirmed
Siyaram Silk Mills Ltd                CC                 CRISIL A       1520    Reaffirmed
Siyaram Silk Mills Ltd                TL                 CRISIL A       564.4   Reaffirmed
Sprint Exports Pvt Ltd                TL                 CRISIL BB-     66      Reaffirmed
Sri Kalyani Agro Products & IndustriesCC                 CRISIL D       180     Downgraded
Ltd                                                                             from 'CRISIL B
Sri Kalyani Agro Products & IndustriesTL                 CRISIL D       84.7    Downgraded
Ltd                                                                             from 'CRISIL B
Sri Seethalakshmi Steel Castings Pvt LCC                 CRISIL B+      15      Downgraded
                                                                                from CRISIL
                                                                                BB-
Sri Seethalakshmi Steel Castings Pvt LLT Loan            CRISIL B+      37      Downgraded
                                                                                from CRISIL
                                                                                BB-
Sri Seethalakshmi Steel Castings Pvt LProposed CC Limit  CRISIL B+      1       Downgraded
                                                                                from CRISIL
                                                                                BB-
Sri Seethalakshmi Steel Castings Pvt LSME Credit         CRISIL B+      2       Downgraded
                                                                                from CRISIL
                                                                                BB-
Synthokem Labs Pvt Ltd                CC                 CRISIL BB+     11      Reaffirmed
The Mittal Udyog Samiti               CC                 CRISIL B+      350     Upgraded from
                                                                                'CRISIL B
The Republic Pvt Ltd                  TL                 CRISIL BBB-    56.7    Assigned
The Republic Pvt Ltd                  Proposed LT Bk     CRISIL BBB-    19.7    Assigned
                                      Loan Fac
The Republic Pvt Ltd                  CC                 CRISIL BBB-    97.5    Assigned
Theon Pharmaceuticals Ltd             CC                 CRISIL BBB+    260     Reaffirmed
Theon Pharmaceuticals Ltd             Proposed LT Bk     CRISIL BBB+    50      Reaffirmed
                                      Loan Fac
Theon Pharmaceuticals Ltd             TL                 CRISIL BBB+    270     Reaffirmed
Threads (India) Ltd                   CC                 CRISIL A-      420     Reaffirmed
Threads (India) Ltd                   LT Loan            CRISIL A-      67.5    Reaffirmed
Tree House Education & Accessories LtdOverdraft Fac      CRISIL BBB+    520     Placed on
                                                                                'Notice of
                                                                                Withdrawal'
Tree House Education & Accessories LtdProposed LT Bk     CRISIL BBB+    230     Placed on
                                      Loan Fac                                  'Notice of
                                                                                Withdrawal'
Vanjax Sales Pvt Ltd                  Proposed LT Bk     CRISIL BB-     95      Assigned
                                      Loan Fac
Vanjax Sales Pvt Ltd                  LT Loan            CRISIL BB-     15      Assigned
Vanjax Sales Pvt Ltd                  CC                 CRISIL BB-     20      Assigned
Vanjax Sales Pvt Ltd                  Buyer Credit Limit*CRISIL BB-     50      Assigned
* 100 percent interchangeable with Letter of Credit
Vinayak Rathi Steels Rolling Mills PvtCC                 CRISIL B       225     Reaffirmed
Ltd
Vinayak Rathi Steels Rolling Mills PvtTL                 CRISIL B       105     Reaffirmed
Ltd
Vistaar Financial Services Pvt        Series A1 PTCs     CRISIL A (SO)  69.5    Withdrawn
Ltd-Abeona SBL IFMR Capital 2012
Zenith Industrial Rubber Products Pvt CC                 CRISIL BBB     30      Reaffirmed
Ltd
Zenith Industrial Rubber Products Pvt Proposed Long-     CRISIL BBB     153.2   Reaffirmed
Ltd                                   Term Bk Loan Fac
Zenith Industrial Rubber Products Pvt Standby Line of    CRISIL BBB     44.2    Reaffirmed
Ltd                                   Credit
Zenith Industrial Rubber Products Pvt TL                 CRISIL BBB     62.8    Reaffirmed
Ltd
--------------------------------------------------------------------------------------------
$: 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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