February 3, 2014 / 7:33 AM / 4 years ago

CRISIL ratings for Indian debt instruments-Feb 3

Feb 3 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of January 31, 2014.


COMPANY                               INSTRUMENT         RATING        AMOUNT  MOVEMENT
                                                                       (RS.MLN)
------                                ----------         ------        -----   ---------
SHORT TERM RATINGS:
-------------------
Amar Construction Corpn.              BG                 CRISIL A4      60      Assigned
Art N Glass Inc                       BG                 CRISIL A3+     17      Reaffirmed
Art N Glass Inc                       LOC                CRISIL A3+     16      Reaffirmed
Bhaskun Agrotech India Pvt Ltd        BG                 CRISIL A4      2       Assigned
Bowreah Jute Mills Pvt Ltd            BG                 CRISIL A4+     75      Reaffirmed
Bowreah Jute Mills Pvt Ltd            LOC                CRISIL A4+     75      Reaffirmed
Burnpur Cement Ltd                    BG                 CRISIL A4+     15      Reaffirmed
Burnpur Cement Ltd                    LOC                CRISIL A4+     10      Reaffirmed
Burnpur Cement Ltd                    Proposed BG        CRISIL A4+     15      Reaffirmed
Burnpur Cement Ltd                    Proposed LOC       CRISIL A4+     50      Reaffirmed
Chiniwalas Pvt Ltd                    BG                 CRISIL A4+     54      Assigned
Creamline Dairy Products Ltd          BG                 CRISIL A2      20      Reaffirmed
Creamline Dairy Products Ltd          LOC                CRISIL A2      20      Reaffirmed
Crown Alba Writing Instruments India  Export Packing     CRISIL D       35      Downgraded
Pvt Ltd                               Credit                                    from CRISIL
                                                                                A4+
Crown Alba Writing Instruments India  LOC                CRISIL D       4000    Downgraded
Pvt Ltd                                                                         from CRISIL
                                                                                A4+
Diana Tea Co. Ltd                     BG                 CRISIL A3+     9.1     Downgraded
                                                                                from CRISIL A2
Finewear Leathers Pvt Ltd             Proposed LOC       CRISIL A4      10.5    Assigned
Finewear Leathers Pvt Ltd             LOC*               CRISIL A4      10      Assigned
* Rs.7.5 Million interchangeable with Export packing credit
Finewear Leathers Pvt Ltd             Export Packing     CRISIL A4      20      Assigned
                                      Credit
Four Star International Ltd           BG                 CRISIL A4+     5       Reaffirmed
Four Star International Ltd           Foreign Usance     CRISIL A4+     70      Reaffirmed
                                      Bills Purchase -
                                      Discounting
Four Star International Ltd           Inland/Import LOC  CRISIL A4+     10      Reaffirmed
Four Star International Ltd           Packing Credit     CRISIL A4+     45      Reaffirmed
Four Star International Ltd           Proposed ST Bk     CRISIL A4+     36.8    Reaffirmed
                                      Loan Fac
Gulf Engineers and Constructors Pvt LtBG                 CRISIL A4+     70      Assigned
H.K. Narang Hosiery Pvt Ltd           LOC                CRISIL A4      20      Assigned
Indiabulls Housing Finance Ltd        ST Bk Fac          CRISIL A1+     9.5625  Reaffirmed
Inova Cast Pvt Ltd                    BG                 CRISIL A4+     2       Assigned
Inovative Technocast Pvt Ltd          BG                 CRISIL A4+     1.5     Assigned
Jaika Vehicle Trade Pvt Ltd           BG                 CRISIL A4      80      Assigned
Kanaka Mahalakshmi Rice Industries    ST Bk Fac          CRISIL A4      10      Assigned
KGK Creations Pvt Ltd                 Foreign Exchange   CRISIL A3+     10      Upgraded
                                      Forward                                   from CRISIL A3
KGK Diamonds (I) Pvt Ltd              BG                 CRISIL A3+     10      Upgraded
                                                                                from CRISIL A3
KGK Diamonds (I) Pvt Ltd              BG$                CRISIL A3+     50      Upgraded
                                                                                from CRISIL A3
Kothari Foods & Fragrances            LOC                CRISIL D       1000    Downgraded
                                                                                from CRISIL
                                                                                A4+
Ratchet Laboratories Ltd              LOC                CRISIL D       10      Downgraded
                                                                                from CRISIL
                                                                                A4+
M.S. Plasto Mould Pvt Ltd             BG                 CRISIL A4+     2       Assigned
Madras Elastomers Ltd                 BG                 CRISIL A4+     20      Downgraded
                                                                                from CRISIL A3
Partap Spintex Ltd                    BG                 CRISIL A4+     22.5    -
Poddar Tyres Ltd                      BG                 CRISIL A1      10      Reaffirmed
Poddar Tyres Ltd                      LOC                CRISIL A1      150     Reaffirmed
Rotomac Global Pvt Ltd                Export Packing     CRISIL D       380     Downgraded
                                      Credit                                    from CRISIL
                                                                                A4+
Rotomac Global Pvt Ltd                LOC                CRISIL D       18000   Downgraded
                                                                                from CRISIL
                                                                                A4+
Rotomac Exports Pvt Ltd               Export Packing     CRISIL D       100     Downgraded
                                      Credit                                    from CRISIL
                                                                                A4+
Rotomac Exports Pvt Ltd               LOC                CRISIL D       2250    Downgraded
                                                                                from CRISIL
                                                                                A4+
Rotomac Global Pvt Ltd                BG                 CRISIL D       200     Downgraded
                                                                                from CRISIL
                                                                                A4+
Rotomac Exports Pvt Ltd               BG                 CRISIL D       50      Downgraded
                                                                                from CRISIL
                                                                                A4+
Rotomac Exim Pvt Ltd                  LOC                CRISIL A4      500     Downgraded
                                                                                from CRISIL
                                                                                A4+
Rotomac Polymers Pvt Ltd              LOC                CRISIL A4      300     Downgraded
                                                                                from CRISIL
                                                                                A4+
S K P Steel Industries Pvt Ltd        BG                 CRISIL A4      2.5     Reaffirmed
S K P Steel Industries Pvt Ltd        LOC                CRISIL A4      2.5     Reaffirmed
S. M. Kannappa Automobiles Pvt Ltd    BG                 CRISIL A2      100     Assigned
Shirt Company (India) Ltd             Bill Discounting   CRISIL A4      50      Reaffirmed
Shirt Company (India) Ltd             LOC                CRISIL A4      25      Reaffirmed
Shirt Company (India) Ltd             Packing Credit     CRISIL A4      160     Reaffirmed
Shirt Company (India) Ltd             Proposed Packing   CRISIL A4      65      Reaffirmed
                                      Credit
Super Seal Flexible Hose Ltd          LOC                CRISIL A4      10      Assigned
T.M. Subramaniam and CO               BG                 CRISIL A4+     6       Assigned
TPS Infrastructure Ltd                BG*#               CRISIL A3+     550     Upgraded
                                                                                from CRISIL A3
 #Both way convertibility between Non Fund Based and Fund Based limits to the maximum extent of
Rs.35 million.*Fully interchangeable between letter of credit and bank guarantee.
TPS Infrastructure Ltd                LOC*               CRISIL A3+     35      Upgraded
                                                                                from CRISIL A3
*Fully interchangeable between letter of credit and bank guarantee.
TPS Infrastructure Ltd                LOC                CRISIL A3+     205     Upgraded
                                                                                from CRISIL A3
Veeranarayana Metal Alloys Pvt Ltd    LOC                CRISIL A4      25      Assigned
Veeranarayana Metal Alloys Pvt Ltd    BG                 CRISIL A4      5       Assigned
Vel Murugan Timber Industries         Foreign LOC*       CRISIL A4      135     Assigned
* Includes a sublimit of Rs. 10million for Inland Letter of Credit.
Vel Murugan Timber Traders            Foreign LOC*       CRISIL A4      100     Assigned
* includes a sublimit of Rs.10 million for inland letter of credit
Veritas (India) Ltd                   Standby LOC        CRISIL A2      1120    Assigned
Virgo Laminates Ltd                   LOC                CRISIL A2      35      Assigned
West Coast Extrusion Pvt Ltd          LOC                CRISIL A4      300     Downgraded
                                                                                from CRISIL
                                                                                A4+
Yasham Speciality Ingredients Pvt Ltd Import LOC Limit   CRISIL A4+     45      Assigned

Yasham Speciality Ingredients Pvt Ltd BG                 CRISIL A4+     5       Assigned

LONG TERM RATINGS:
-------------------
Agasthya Copper Pvt Ltd               CC                 CRISIL B-      90      Downgraded
                                                                                from CRISIL B+
Agasthya Copper Pvt Ltd               Proposed LT Bk     CRISIL B-      40      Downgraded
                                      Loan Fac                                  from CRISIL B+
Amar Construction Corpn.              Proposed LT Bk     CRISIL B+      30      Assigned
                                      Loan Fac
Antony Commercial Vehicles Pvt Ltd    Inventory Funding  CRISIL B+      180     Assigned
                                      Fac
Antony Commercial Vehicles Pvt Ltd    Proposed LT Bk     CRISIL B+      20      Assigned
                                      Loan Fac
Art N Glass Inc                       CC                 CRISIL BBB     115     Reaffirmed
Art N Glass Inc                       Standby Line of    CRISIL BBB     12      Reaffirmed
                                      Credit
Art N Glass Inc                       TL                 CRISIL BBB     125     Reaffirmed
Basudeb Auto Ltd                      WC TL              CRISIL B+      5       Assigned
Basudeb Auto Ltd                      CC                 CRISIL B+      42.5    Assigned
Basudeb Auto Ltd                      Channel Financing  CRISIL B+      102.5   Assigned
Bhaskun Agrotech India Pvt Ltd        TL                 CRISIL B       50      Assigned
Bhaskun Agrotech India Pvt Ltd        CC                 CRISIL B       25      Assigned
Bowreah Jute Mills Pvt Ltd            CC                 CRISIL BB+     150     Reaffirmed
Burnpur Cement Ltd                    CC                 CRISIL BB-     137     Reaffirmed
Burnpur Cement Ltd                    Proposed CC Limit  CRISIL BB-     113     Reaffirmed
Burnpur Cement Ltd                    TL                 CRISIL BB-     1250    Reaffirmed
CBS Publishers & Distributors (P) Ltd.CC                 CRISIL BB      200     Assigned
Chiniwalas Pvt Ltd                    Proposed LT Bk     CRISIL BB      90      Assigned
                                      Loan Fac
Chiniwalas Pvt Ltd                    CC*                CRISIL BB      78.5    Assigned
* Includes sublimit of letter of credit of Rs.29 Million
Creamline Dairy Products Ltd          CC                 CRISIL BBB+    400     Reaffirmed
Creamline Dairy Products Ltd          Proposed LT Bk     CRISIL BBB+    150     Reaffirmed
                                      Loan Fac
Creamline Dairy Products Ltd          TL                 CRISIL BBB+    420     Reaffirmed
Crown Alba Writing Instruments India  CC                 CRISIL D       5       Downgraded
Pvt Ltd                                                                         from CRISIL
                                                                                BB+
Diana Tea Co. Ltd                     CC                 CRISIL BBB     171.7   Downgraded
                                                                                from CRISIL
                                                                                BBB+
Diana Tea Co. Ltd                     LT Loan            CRISIL BBB     37.5    Downgraded
                                                                                from CRISIL
                                                                                BBB+
Diana Tea Co. Ltd                     Proposed LT Bk     CRISIL BBB     20.3    Downgraded
                                      Loan Fac                                  from CRISIL
                                                                                BBB+
EQUITAS MICRO FINANCE Pvt Ltd         Acquirer Payouts   CRISIL AAA(SO) 3534    Withdrawn
Finewear Leathers Pvt Ltd             WC Demand Loan     CRISIL B-      7       Assigned
Finewear Leathers Pvt Ltd             CC                 CRISIL B-      17.5    Assigned
Formoplastic Controls Pvt Ltd         LT Loan            CRISIL BB-     18      Assigned
Four Star International Ltd           Proposed LT Bk     CRISIL BB      79.5    Reaffirmed
                                      Loan Fac
Four Star International Ltd           Secured Overdraft  CRISIL BB      22.2    Reaffirmed
                                      Fac
Four Star International Ltd           TL                 CRISIL BB      84.5    Reaffirmed
Gulf Engineers and Constructors Pvt LtStandby Line of    CRISIL BB      5       Assigned
                                      Credit
Gulf Engineers and Constructors Pvt LtProposed LT Bk     CRISIL BB      12.5    Assigned
                                      Loan Fac
Gulf Engineers and Constructors Pvt LtCC                 CRISIL BB      12.5    Assigned
Guru Nanak Cotton & Gen. Mills        WC Demand Loan     CRISIL B       35      Assigned
Guru Nanak Cotton & Gen. Mills        CC                 CRISIL B       60      Assigned
Guru Nanak Cotton & Gen. Mills        TL                 CRISIL B       2.5     Assigned
H.K. Narang Hosiery Pvt Ltd           Proposed LT Bk     CRISIL B+      40      Assigned
                                      Loan Fac
H.K. Narang Hosiery Pvt Ltd           CC                 CRISIL B+      65      Assigned
IFFCO Tokio General Insurance Co. Ltd Financial Strength AA-            -       Reaffirmed
                                      Rating
Indiabulls Housing Finance Ltd        CC                 CRISIL AA      49      Reaffirmed
Indiabulls Housing Finance Ltd        LT Bk Fac          CRISIL AA      142.9115Reaffirmed
Indiabulls Housing Finance Ltd        Proposed LT Bk     CRISIL AA      74.0258 Reaffirmed
                                      Loan Fac
Indiabulls Infrastructure Credit Ltd  LT Bk Fac          CRISIL AA      4500    Reaffirmed
Indiabulls Infrastructure Credit Ltd  Proposed LT Bk     CRISIL AA      10500   Reaffirmed
                                      Loan Fac
Inova Cast Pvt Ltd                    TL                 CRISIL BB+     34.7    Assigned
Inova Cast Pvt Ltd                    CC                 CRISIL BB+     20      Assigned
Inovative Technocast Pvt Ltd          TL                 CRISIL BB+     34.7    Assigned
Inovative Technocast Pvt Ltd          CC                 CRISIL BB+     20      Assigned
J.R.P. Exports                        Bill Discounting   CRISIL BB-     30      Assigned
J.R.P. Exports                        Export Packing     CRISIL BB-     20      Assigned
                                      Credit
Jaika Vehicle Trade Pvt Ltd           TL                 CRISIL B       60      Assigned
Jaika Vehicle Trade Pvt Ltd           CC                 CRISIL B       40*     Assigned
* full interchangeability between Cash Credit and Bank Guarantee
Jaika Vehicle Trade Pvt Ltd           CC                 CRISIL B       50      Assigned
Jaika Vehicle Trade Pvt Ltd           BG                 CRISIL B       50#     Assigned
# full interchangeability between Cash Credit and Bank Guarantee
Jay Khodiyar Cotton Pvt Ltd           CC                 CRISIL B       15      Reaffirmed
Jay Khodiyar Cotton Pvt Ltd           Proposed LT Bk     CRISIL B       4.5     Reaffirmed
                                      Loan Fac
Jay Khodiyar Cotton Pvt Ltd           WC Demand Loan     CRISIL B       60      Reaffirmed
Kanaka Mahalakshmi Rice Industries    SME Credit         CRISIL B       5       Assigned
Kanaka Mahalakshmi Rice Industries    Proposed LT Bk     CRISIL B       130     Assigned
                                      Loan Fac
Kanaka Mahalakshmi Rice Industries    CC                 CRISIL B       30      Assigned
Kanaka Mahalakshmi Rice Industries    LT Loan*           CRISIL B       25      Assigned
* Includes a sub-limit of Rs7.8 Million of Foreign Letter of Credit
Karnataka Turned Components Pvt Ltd   TL                 CRISIL BB-     44      Assigned
Karnataka Turned Components Pvt Ltd   Overdraft Fac      CRISIL BB-     30      Assigned
Karnataka Turned Components Pvt Ltd   Proposed LT Bk     CRISIL BB-     56      Assigned
                                      Loan Fac
Keshav Cotton Industries              TL                 CRISIL B+      31      Assigned
Keshav Cotton Industries              CC                 CRISIL B+      50      Assigned
Keshav Cotton Industries              Proposed LT Bk     CRISIL B+      9       Assigned
                                      Loan Fac
KGK Creations Pvt Ltd                 Post Shipment      CRISIL BBB     290     Assigned
                                      Credit#
#Includes sub limit of Packing Credit of Rs. 200.0 Million  
KGK Creations Pvt Ltd                 Post Shipment      CRISIL BBB     200     Assigned
                                      Credit*
*Includes sub limit of Packing Credit of Rs. 100.0 Million and Bank Guarantee of Rs. 10.0
Million
KGK Diamonds (I) Pvt Ltd              Post-Shipment      CRISIL BBB     3300    Assigned
                                      Credit*
KGK Diamonds (I) Pvt Ltd              Post-Shipment      CRISIL BBB     300     Assigned
                                      Credit#
KGK Diamonds (I) Pvt Ltd              Post-Shipment      CRISIL BBB     200     Assigned
                                      Credit@
KGK Diamonds (I) Pvt Ltd              Post-Shipment      CRISIL BBB     300     Assigned
                                      Credit**
KGK Diamonds (I) Pvt Ltd              Post-Shipment      CRISIL BBB     2250    Assigned
                                      Credit^
KGK Diamonds (I) Pvt Ltd              Post Shipment      CRISIL BBB     400     Assigned
                                      Credit@#
M.D Printing and Packaging Pvt Ltd    CC                 CRISIL B-      7.5     Assigned
M.D Printing and Packaging Pvt Ltd    TL                 CRISIL B-      62.5    Assigned
M.S. Plasto Mould Pvt Ltd             TL                 CRISIL BB-     11.5    Assigned
M.S. Plasto Mould Pvt Ltd             Standby Line of    CRISIL BB-     6       Assigned
                                      Credit
M.S. Plasto Mould Pvt Ltd             CC                 CRISIL BB-     34.5    Assigned
Madras Elastomers Ltd                 CC                 CRISIL BB+     130     Downgraded
                                                                                from CRISIL
                                                                                BBB-
Malwa Agro Foods Pvt Ltd              CC                 CRISIL BB      40      Upgraded
                                                                                from CRISIL
                                                                                BB-
Malwa Agro Foods Pvt Ltd              TL                 CRISIL BB      26      Upgraded
                                                                                from CRISIL
                                                                                BB-
North Eastern Educare & Research Pvt  TL                 CRISIL B-      144.2   Upgraded
Ltd                                                                             from CRISIL D
North Eastern Knowledge Foundation    TL                 CRISIL B-      265     Upgraded
                                                                                from CRISIL D
Partap Spintex Ltd                    CC                 CRISIL BB      210     -
Partap Spintex Ltd                    Proposed LT Bk     CRISIL BB      266.1   -
                                      Loan Fac
Partap Spintex Ltd                    TL                 CRISIL BB      279.5   -
Poddar Tyres Ltd                      CC                 CRISIL A-      400     Reaffirmed
R.S.V. Cotton Industries              CC                 CRISIL B       25      Assigned
R.S.V. Cotton Industries              TL                 CRISIL B       30      Assigned
Ratchet Laboratories Ltd              CC                 CRISIL D       120     Downgraded
                                                                                from CRISIL
                                                                                BB+
Ratchet Laboratories Ltd              Rupee TL           CRISIL D       40      Downgraded
                                                                                from CRISIL
                                                                                BB+
Riddhi Siddhi Gluco Biols Ltd         LT Loan            CRISIL BBB     1350    Reaffirmed
Riddhi Siddhi Gluco Biols Ltd         Proposed LT Bk     CRISIL BBB     2500    Reaffirmed
                                      Loan Fac
Rite Steel Industries Pvt Ltd         CC                 CRISIL BB-     85      Reaffirmed
Rite Steel Industries Pvt Ltd         LT Loan            CRISIL BB-     40      Reaffirmed
Rotomac Exports Pvt Ltd               CC                 CRISIL D       30      Downgraded
                                                                                from CRISIL
                                                                                BB+
Rotomac Global Pvt Ltd                CC                 CRISIL D       200     Downgraded
                                                                                from CRISIL
                                                                                BB+
Rotomac Global Pvt Ltd                Packing Credit     CRISIL D       350     Downgraded
                                                                                from CRISIL
                                                                                BB+
Rotomac Global Pvt Ltd                TL                 CRISIL D       120     -
Royal Star Agrotech Pvt Ltd           CC                 CRISIL B+      75      Assigned
Royal Star Agrotech Pvt Ltd           LT Loan            CRISIL B+      85      Assigned
S K P Steel Industries Pvt Ltd        CC                 CRISIL B+      110     Reaffirmed
S K P Steel Industries Pvt Ltd        Proposed LT Bk     CRISIL B+      6.9     Reaffirmed
                                      Loan Fac
S K P Steel Industries Pvt Ltd        TL                 CRISIL B+      28.1    Reaffirmed
S. M. Kannappa Automobiles Pvt Ltd    CC                 CRISIL BBB+    20      Assigned
S.R.K. Infra Projects Pvt Ltd         LT Loan            CRISIL B-      100     Assigned
S.R.K. Infra Projects Pvt Ltd         Proposed LT Bk     CRISIL B-      50      Assigned
                                      Loan Fac
Satyamaharshi Power Corporation Ltd   CC                 CRISIL D       30      Downgraded
                                                                                from CRISIL B+
Satyamaharshi Power Corporation Ltd   TL                 CRISIL D       120     Downgraded
                                                                                from CRISIL B+
Senthil Andavar Modern Rice Mill      TL                 CRISIL B       1.6     Assigned
Senthil Andavar Modern Rice Mill      CC                 CRISIL B       15      Assigned
Senthil Andavar Modern Rice Mill      Proposed TL        CRISIL B       33.4    Assigned
Sharda Cotton Factory                 CC                 CRISIL BB-     160     Assigned
Sharda Cotton Factory                 TL                 CRISIL BB-     5.3     Assigned
Sheikh Farid Automobiles Ltd          Rupee TL           CRISIL B+      40      Assigned
Sheikh Farid Automobiles Ltd          CC                 CRISIL B+      90      Assigned
Sheikh Farid Automobiles Ltd          Proposed LT Bk     CRISIL B+      10      Assigned
                                      Loan Fac
Shirt Company (India) Ltd             Proposed LT Bk     CRISIL B-      43.8    Assigned
                                      Loan Fac
Shirt Company (India) Ltd             TL                 CRISIL B-      456.2   Assigned
Sonika Engineering and Construction   Proposed TL        CRISIL B       200     Assigned
Ltd
Star Logistics                        Overdraft Fac      CRISIL B       30      Assigned
Star Logistics                        Proposed Overdraft CRISIL B       30      Assigned
                                      Fac
Super Seal Flexible Hose Ltd          Proposed LT Bk     CRISIL B+      5       Assigned
                                      Loan Fac
Super Seal Flexible Hose Ltd          CC                 CRISIL B+      65      Assigned
T.M. Subramaniam and CO               Proposed Overdraft CRISIL BB-     44      Assigned
                                      Fac
T.M. Subramaniam and CO               Overdraft Fac      CRISIL BB-     50      Assigned
Thangavelu Spinning Mills Ltd         CC                 CRISIL B       70      Reaffirmed
Thangavelu Spinning Mills Ltd         Corporate Loan     CRISIL B       10      Reaffirmed
Thangavelu Spinning Mills Ltd         LT Loan            CRISIL B       21.5    Reaffirmed
Thangavelu Spinning Mills Ltd         Proposed LT Bk     CRISIL B       80.3    Reaffirmed
                                      Loan Fac
The Chemical Engineering Corporation  TL                 CRISIL B+      49.9    Assigned
Pvt Ltd
The Chemical Engineering Corporation  CC                 CRISIL B+      23      Assigned
Pvt Ltd
The Chemical Engineering Corporation  Proposed CC Limit  CRISIL B+      20      Assigned
Pvt Ltd
TPS Infrastructure Ltd                CC#                CRISIL BBB     500     Upgraded
                                                                                from CRISIL
                                                                                BBB-
#Both way convertibility between Non Fund Based and Fund Based limits to the maximum extent of
Rs.35 million.
TPS Infrastructure Ltd                Proposed LT Bk     CRISIL BBB     30      Upgraded
                                      Loan Fac                                  from CRISIL
                                                                                BBB-
Utkal Energy Resources Ltd            Proposed CC Limit  CRISIL B+      200     Downgraded
                                                                                from CRISIL
                                                                                BB-
V. S. Cotton Industries               CC                 CRISIL B       20      Assigned
V. S. Cotton Industries               TL                 CRISIL B       30      Assigned
Vardhman Rice Exports Pvt Ltd         CC                 CRISIL B-      105     Assigned
Vardhman Rice Exports Pvt Ltd         TL                 CRISIL B-      45      Assigned
Veeranarayana Metal Alloys Pvt Ltd    Proposed LT Bk     CRISIL B+      5       Assigned
                                      Loan Fac
Veeranarayana Metal Alloys Pvt Ltd    LT Loan            CRISIL B+      2       Assigned
Veeranarayana Metal Alloys Pvt Ltd    CC                 CRISIL B+      50      Assigned
Vel Murugan Timber Industries         Secured Overdraft  CRISIL B       24      Assigned
                                      Fac
Vel Murugan Timber Industries         Proposed LT Bk     CRISIL B       41      Assigned
                                      Loan Fac
Vel Murugan Timber Traders            Secured Overdraft  CRISIL B       24      Assigned
                                      Fac
Vel Murugan Timber Traders            Proposed LT Bk     CRISIL B       76      Assigned
                                      Loan Fac
Veritas (India) Ltd                   TL                 CRISIL BBB+    40      Assigned
Veritas (India) Ltd                   CC*                CRISIL BBB+    200     Assigned
*Interchangeable with WCDL to the extent of Rs.120 million and letter of credit to the extent of
Rs.200 million
Vijay Engifab India Pvt Ltd           TL*                CRISIL B-      73      Assigned
* Fully interchangable with Letter of Credit
Vijay Engifab India Pvt Ltd           TL                 CRISIL B-      55      Assigned
Vijay Engifab India Pvt Ltd           CC                 CRISIL B-      15      Assigned
Vijay Engifab India Pvt Ltd           Proposed LT Bk     CRISIL B-      12.4    Assigned
                                      Loan Fac
Vindeep Developers Pvt Ltd            Overdraft Fac      CRISIL D       5       Downgraded
                                                                                from CRISIL B-
Vindeep Developers Pvt Ltd            Proposed LT Bk     CRISIL D       4.4     Downgraded
                                      Loan Fac                                  from CRISIL B-
Vindeep Developers Pvt Ltd            TL                 CRISIL D       100.6   Downgraded
                                                                                from CRISIL B-
Virgo Laminates Ltd                   Proposed LT Bk     CRISIL BBB+    35      Assigned
                                      Loan Fac
Virgo Laminates Ltd                   CC                 CRISIL BBB+    30      Assigned
Vishwajeet Meadows                    CC                 CRISIL B       200     Assigned
West Coast Extrusion Pvt Ltd          CC                 CRISIL B       100     Downgraded
                                                                                from CRISIL
                                                                                BB+
West Coast Extrusion Pvt Ltd          TL                 CRISIL B       80      Downgraded
                                                                                from CRISIL
                                                                                BB+
Yasham Speciality Ingredients Pvt Ltd CC                 CRISIL BB-     40      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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