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CRISIL ratings for Indian debt instruments-Jun 9
June 9, 2017 / 7:19 AM / 3 months ago

CRISIL ratings for Indian debt instruments-Jun 9

    Jun 9 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of June 8, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aditya Translink Pvt Ltd                BG                 CRISIL A4      65      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Aditya Translink Pvt Ltd                LOC                CRISIL A4      75      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Alkyl Amines Chemicals Ltd              BG                 CRISIL A1      68      Reaffirmed
Alkyl Amines Chemicals Ltd              LOC                CRISIL A1      306     Reaffirmed
Ambrish Kumar Tripathi                  BG                 CRISIL A4+     50      Assigned
Bharat Barrel and Drum Manufacturing    BG                 CRISIL A4      50      Reaffirmed
Company Pvt Ltd
Binayak Hi-Tech Engineering Ltd         Packing Credit     CRISIL A4      60      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Concord Fortune Minerals India Pvt Ltd  Packing Credit     CRISIL A4      300     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Concord Fortune Minerals India Pvt Ltd  Proposed ST Bk     CRISIL A4      250     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  A4+
Dattatreya Textiles Pvt Ltd             BG                 CRISIL A3      10      Reaffirmed
Delight Dairy Ltd                       BG                 CRISIL A4+     2.5     Reaffirmed
Dhruba Kumar Builders Pvt Ltd           BG                 CRISIL A4      40      Reaffirmed
Duars Union Tea Co. Ltd                 BG                 CRISIL A4      6       Reaffirmed
Ganesh Transmission Pvt Ltd             Letter Of GuaranteeCRISIL A4      6       Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Ganesh Transmission Pvt Ltd             Proposed ST Bk     CRISIL A4      9       Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  A4+
Ginza Industries Ltd.                   BG                 CRISIL A2+     10      Reaffirmed
Ginza Industries Ltd.                   LOC                CRISIL A2+     85      Reaffirmed
Hasimara Industries Ltd                 BG                 CRISIL A4      6       Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Icon Solar En Power Technologies Pvt LtdLOC                CRISIL A4+     40      Upgraded from
                                                                                  CRISIL A4
Kamdhenu Udyog Pvt Ltd                  LOC                CRISIL A4+     15      Reaffirmed
Kasatex Home Furnishing Pvt Ltd         Bill Purchase      CRISIL A4+     100     Reaffirmed
Kolkata Marine Products Pvt Ltd         Proposed ST Bk     CRISIL A4      30      Reaffirmed
                                        Loan Fac
LPS Bossard Pvt Ltd                     BG                 CRISIL A2      20      Reaffirmed
Magneti Marelli UM Electronics Systems  BG                 CRISIL A4+     1.5     Reaffirmed
Pvt Ltd
Magneti Marelli UM Electronics Systems  Bill Discounting   CRISIL A4+     86      Reaffirmed
Pvt Ltd
Manohar Capital Markets Ltd             LOC                CRISIL A4+     60      Reaffirmed
Maurya Motors Ltd                       BG                 CRISIL A4      10      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Metropoli Fashions Pvt Ltd              Export Packing     CRISIL A4      190     Downgraded
                                        Credit                                    from CRISIL
                                                                                  A4+
North East Engineering and Construction BG                 CRISIL A4      91.5    Reaffirmed
Plasto Eltronics Pvt Ltd                BG                 CRISIL A4      1       Reaffirmed
Plasto Eltronics Pvt Ltd                LOC                CRISIL A4      15      Reaffirmed
Plasto Eltronics Pvt Ltd                Supplier Bill      CRISIL A4      35      Reaffirmed
                                        Discounting
Prakash Re-Rollers Pvt Ltd              BG                 CRISIL A4      70      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Prakash Re-Rollers Pvt Ltd              LOC                CRISIL A4      590     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Prince Gold and Diamonds India Pvt Ltd  BG                 CRISIL A2      200     Upgraded from
                                                                                  CRISIL A3+
RA International                        LOC                CRISIL A4      200     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
RA International                        Pre Shipment CreditCRISIL A4      80      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Raj Construction                        BG                 CRISIL A4      75      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Ramgarh Sponge Iron Pvt Ltd             BG                 CRISIL A4      25      Reaffirmed
Rams Assorted Cold Storage Ltd          Export Packing     CRISIL A4+     410     Reaffirmed
                                        Credit
Rams Assorted Cold Storage Ltd          Foreign Bill       CRISIL A4+     500     Reaffirmed
                                        Negotiation
Rollwell Conveyor Components Pvt Ltd    BG                 CRISIL A4+     50      Upgraded from
                                                                                  CRISIL A4
Rollwell Conveyor Components Pvt Ltd    Proposed BG        CRISIL A4+     131     Upgraded from
                                                                                  CRISIL A4
Ship Trade Corporation                  LOC                CRISIL A4+     257.5   Reaffirmed
Shree Krishna Cold Storage Pvt Ltd      BG                 CRISIL A4      1       Reaffirmed
Shri Ram Multicom Pvt Ltd               BG                 CRISIL A3      55.4    Upgraded from
                                                                                  CRISIL A4+
Soluble Silicates Pvt Ltd               BG                 CRISIL A4      2.5     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Soluble Silicates Pvt Ltd               LOC                CRISIL A4      25      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Soni Auto and Allied Industries Ltd     BG                 CRISIL A3      7.5     Reaffirmed
Soni Auto and Allied Industries Ltd     LOC                CRISIL A3      10      Reaffirmed
Sundaram Textiles Ltd                   BG                 CRISIL A3      10      Reaffirmed
Swelore Engineering Pvt Ltd             BG                 CRISIL A4+     120     Reaffirmed
Tenty Marketing Co Pvt Ltd              LOC                CRISIL A4      35      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Timespac India Pvt Ltd                  BG                 CRISIL A4      2.5     Reaffirmed

MEDIUM TERM RATINGS:
-------------------

Corporation Bank                        FD                 FAAA           -       Reaffirmed


LONG TERM RATINGS:
-------------------
A.K.Spintex Ltd                         CC                 CRISIL BB+     75      Upgraded from
                                                                                  CRISIL BB
A.K.Spintex Ltd                         TL                 CRISIL BB+     16.8    Upgraded from
                                                                                  CRISIL BB
Aditya Translink Pvt Ltd                CC                 CRISIL B       85      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Aditya Translink Pvt Ltd                TL                 CRISIL B       30      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Alkyl Amines Chemicals Ltd              CC                 CRISIL A       350     Reaffirmed
Alkyl Amines Chemicals Ltd              Export Packing     CRISIL A       150     Reaffirmed
                                        Credit
Alkyl Amines Chemicals Ltd              External           CRISIL A       1539    Reaffirmed
                                        Commercial
                                        Borrowings
Alkyl Amines Chemicals Ltd              Line of Credit     CRISIL A       50      Reaffirmed
Ambrish Kumar Tripathi                  CC                 CRISIL BB-     10      Assigned
Arihant Infrastructures                 TL                 CRISIL B       125     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Assam Motors                            CC                 CRISIL BB-     50      Reaffirmed
Assam Motors                            Proposed LT Bk     CRISIL BB-     27      Reaffirmed
                                        Loan Fac
Assam Motors                            TL                 CRISIL BB-     3       Reaffirmed
Bharat Barrel and Drum Manufacturing    CC                 CRISIL B       45      Downgraded
Company Pvt Ltd                                                                   from CRISIL B+
Bharat Barrel and Drum Manufacturing    Proposed LT Bk     CRISIL B       20      Downgraded
Company Pvt Ltd                         Loan Fac                                  from CRISIL B+
Binayak Hi-Tech Engineering Ltd         Foreign Bill       CRISIL B       80      Downgraded
                                        Purchase                                  from CRISIL
                                                                                  BB-
Binayak Hi-Tech Engineering Ltd         Proposed LT Bk     CRISIL B       10      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Corporation Bank                        Tier-I Bonds(Under CRISIL A       1000    Reaffirmed
                                        Basel III)
Corporation Bank                        Tier-II            CRISIL AA      5000    Withdrawal
                                        Bonds(Under Basel
                                        III)
Corporation Bank                        Lower Tier-II      CRISIL AA      12000   Reaffirmed
                                        Bonds (Under Basel
                                        II)
Corporation Bank                        Tier-I Perpetual   CRISIL AA-     4375    Reaffirmed
                                        Bonds (Under Basel
                                        II) 
Corporation Bank                        Upper Tier-II      CRISIL AA-     14000   Reaffirmed
                                        Bonds (Under Basel
                                        II) 
Dattatreya Textiles Pvt Ltd             CC                 CRISIL BBB-    170     Reaffirmed
Dattatreya Textiles Pvt Ltd             Foreign Bill       CRISIL BBB-    15      Reaffirmed
                                        Discounting
Dattatreya Textiles Pvt Ltd             LT Loan            CRISIL BBB-    70      Reaffirmed
Dattatreya Textiles Pvt Ltd             TL                 CRISIL BBB-    20      Reaffirmed
Delight Dairy Ltd                       CC                 CRISIL BB      82.5    Reaffirmed
Delight Dairy Ltd                       Proposed LT Bk     CRISIL BB      40      Reaffirmed
                                        Loan Fac
Dhruba Kumar Builders Pvt Ltd           CC                 CRISIL B       20      Reaffirmed
Duars Union Tea Co. Ltd                 CC                 CRISIL B+      75      Reaffirmed
Duars Union Tea Co. Ltd                 Proposed LT Bk     CRISIL B+      4       Reaffirmed
                                        Loan Fac
Eparis Jewellers                        CC                 CRISIL B       100     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
G.B. Industries                         CC                 CRISIL BB-     79.6    Upgraded from
                                                                                  CRISIL B+
Ganesh Transmission Pvt Ltd             CC                 CRISIL B       65      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Ganesh Transmission Pvt Ltd             Proposed LT Bk     CRISIL B       7       Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Ganesh Transmission Pvt Ltd             TL                 CRISIL B       13      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Ginza Industries Ltd.                   CC                 CRISIL A-      1100    Reaffirmed
Ginza Industries Ltd.                   Corporate Loan     CRISIL A-      86      Reaffirmed
Ginza Industries Ltd.                   Non-FBL            CRISIL A-      90      Reaffirmed
Ginza Industries Ltd.                   TL                 CRISIL A-      629     Reaffirmed
Govindam Projects Pvt Ltd               CC                 CRISIL B       90      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Govindam Projects Pvt Ltd               Proposed LT Bk     CRISIL B       30      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Grihith Trade Ventures Pvt Ltd          TL                 CRISIL BBB-(SO)750     Reaffirmed
Hasimara Industries Ltd                 CC                 CRISIL B+      70      Downgraded
                                                                                  from CRISIL BB
Hasimara Industries Ltd                 TL                 CRISIL B+      61.2    Downgraded
                                                                                  from CRISIL BB
Icon Solar En Power Technologies Pvt LtdCC                 CRISIL BB      110     Upgraded from
                                                                                  CRISIL B+
Icon Solar En Power Technologies Pvt LtdTL                 CRISIL BB      35      Upgraded from
                                                                                  CRISIL B+
IndoSpace SKCL Industrial Park Oragadam Lease Rental       CRISIL A-(SO)  850     #
Pvt Ltd                                 Discounting Loan*
* IndoSpace SKCL Industrial Park Pvt Ltd, IndoSpace SKCL Industrial Park Oragadam Pvt Ltd, and
IndoSpace Industrial Parks Pvt Ltd jointly and severally hold the total lease rental discounting
(LRD) loan of Rs 85 crore.
IndoSpace SKCL Industrial Park Oragadam Proposed LT Bk     CRISIL A-(SO)  350     #
Pvt Ltd                                 Loan Fac**
**The total proposed long-term bank loan facility of Rs 35 crore in the three special-purpose
vehicles (SPVs), if availed, will be taken up in the form of LRD loan and will be jointly and
severally held by the three SPVs.
Johal Carriers Pvt Ltd                  CC                 CRISIL BBB-    40      Reaffirmed
Johal Carriers Pvt Ltd                  Proposed LT Bk     CRISIL BBB-    23      Reaffirmed
                                        Loan Fac
Johal Logistics Pvt Ltd                 CC                 CRISIL BBB-    30      Reaffirmed
Kamdhenu Udyog Pvt Ltd                  CC                 CRISIL BB+     49.6    Upgraded from
                                                                                  CRISIL BB
Kamdhenu Udyog Pvt Ltd                  Proposed LT Bk     CRISIL BB+     5.4     Upgraded from
                                        Loan Fac                                  CRISIL BB
Kasatex Home Furnishing Pvt Ltd         CC                 CRISIL BB      80      Upgraded from
                                                                                  CRISIL BB-
Kasatex Home Furnishing Pvt Ltd         Export Packing     CRISIL BB      140     Upgraded from
                                        Credit                                    CRISIL BB-
Kasatex Home Furnishing Pvt Ltd         TL                 CRISIL BB      100     Upgraded from
                                                                                  CRISIL BB-
Kolkata Marine Products Pvt Ltd         CC                 CRISIL B       10      Downgraded
                                                                                  from CRISIL B+
Kolkata Marine Products Pvt Ltd         Export Packing     CRISIL B       40      Downgraded
                                        Credit                                    from CRISIL B+
Komal Properties                        Secured Overdraft  CRISIL BB-     50      Assigned
                                        Fac
Komal Properties                        Lease Rental       CRISIL BB-     56      Assigned
                                        Discounting Loan
Komal Properties                        Proposed LT Bk     CRISIL BB-     94      Assigned
                                        Loan Fac
Kunj Roller Flour Mills Pvt Ltd         CC                 CRISIL B+      85      Downgraded
                                                                                  from CRISIL BB
Kunj Roller Flour Mills Pvt Ltd         Proposed LT Bk     CRISIL B+      15      Downgraded
                                        Loan Fac                                  from CRISIL BB
LPS Bossard Pvt Ltd                     Bill Discounting   CRISIL BBB+    37.5    Reaffirmed
LPS Bossard Pvt Ltd                     CC                 CRISIL BBB+    92.5    Reaffirmed
LPS Bossard Pvt Ltd                     Proposed LT Bk     CRISIL BBB+    40      Reaffirmed
                                        Loan Fac
Magneti Marelli UM Electronics Systems  CC                 CRISIL BB      31.9    Reaffirmed
Pvt Ltd
Magneti Marelli UM Electronics Systems  Proposed LT Bk     CRISIL BB      73.6    Reaffirmed
Pvt Ltd                                 Loan Fac
Magneti Marelli UM Electronics Systems  TL                 CRISIL BB      27      Reaffirmed
Pvt Ltd
Manohar Capital Markets Ltd             CC                 CRISIL BB+     285     Reaffirmed
Manohar Capital Markets Ltd             Electronic Dealer  CRISIL BB+     99      Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Manohar Capital Markets Ltd             Proposed WC Fac    CRISIL BB+     106     Reaffirmed
Maurya Motors Ltd                       CC                 CRISIL B       100     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Maurya Motors Ltd                       Inventory Funding  CRISIL B       400     Downgraded
                                        Fac                                       from CRISIL
                                                                                  BB-
Mayank Texofine                         CC                 CRISIL B       5       Assigned
Mayank Texofine                         TL                 CRISIL B       50      Assigned
MRS Educational Trust                   TL                 CRISIL B-      100     Assigned
North East Engineering and Construction CC                 CRISIL B       32.5    Reaffirmed
North East Engineering and Construction Overdraft          CRISIL B       1       Reaffirmed
Origin Corporation                      CC                 CRISIL D       61.5    Reaffirmed
Origin Corporation                      Proposed LT Bk     CRISIL D       6.7     Reaffirmed
                                        Loan Fac
Origin Corporation                      TL                 CRISIL D       6.8     Reaffirmed
Pal Stone Industries Ltd                CC                 CRISIL BBB-    250     Reaffirmed
Pal Stone Industries Ltd                Standby Line of    CRISIL BBB-    37.5    Assigned
                                        Credit
Plasto Eltronics Pvt Ltd                CC                 CRISIL B       30      Downgraded
                                                                                  from CRISIL B+
Prakash Re-Rollers Pvt Ltd              CC                 CRISIL B       280     Downgraded
                                                                                  from CRISIL BB
Prince Gold and Diamonds India Pvt Ltd  CC                 CRISIL BBB+    1350    Upgraded from
                                                                                  CRISIL BBB
Prince Gold and Diamonds India Pvt Ltd  CC & WC demand loanCRISIL BBB+    750     Upgraded from
                                                                                  CRISIL BBB
Prince Gold and Diamonds India Pvt Ltd  Cash TL            CRISIL BBB+    105     Upgraded from
                                                                                  CRISIL BBB
Prince Gold and Diamonds India Pvt Ltd  WC Demand Loan     CRISIL BBB+    300     Upgraded from
                                                                                  CRISIL BBB
Prince Gold and Diamonds India Pvt Ltd  Proposed LT Bk     CRISIL BBB+    5       Upgraded from
                                        Loan Fac                                  CRISIL BBB
Raj Construction                        CC                 CRISIL B+      5       Downgraded
                                                                                  from CRISIL BB
Raj Construction                        Proposed LT Bk     CRISIL B+      20      Downgraded
                                        Loan Fac                                  from CRISIL BB
Ramgarh Sponge Iron Pvt Ltd             CC - Book Debt     CRISIL B       10      Downgraded
                                                                                  from CRISIL B+
Ramgarh Sponge Iron Pvt Ltd             CC-Stock           CRISIL B       40      Downgraded
                                                                                  from CRISIL B+
Ramgarh Sponge Iron Pvt Ltd             Proposed LT Bk     CRISIL B       1       Downgraded
                                        Loan Fac                                  from CRISIL B+
Rams Assorted Cold Storage Ltd          Proposed LT Bk     CRISIL BB      90      Reaffirmed
                                        Loan Fac
Rollwell Conveyor Components Pvt Ltd    CC                 CRISIL BB-     80      Upgraded from
                                                                                  CRISIL B+
Sasa Musa Sugar Works Pvt Ltd           CC                 CRISIL B+      550     Reaffirmed
Issuer Not Cooperating
Ship Trade Corporation                  CC                 CRISIL BB-     35      Reaffirmed
Ship Trade Corporation                  Proposed LT Bk     CRISIL BB-     13.5    Reaffirmed
                                        Loan Fac
Shree Jagdamba Cotton Ginning and       CC                 CRISIL B       90      Reaffirmed
Pressing Factory
Shree Jagdamba Cotton Ginning and       Proposed LT Bk     CRISIL B       5       Reaffirmed
Pressing Factory                        Loan Fac
Shree Krishna Cold Storage Pvt Ltd      CC                 CRISIL B       64.5    Reaffirmed
Shree Krishna Cold Storage Pvt Ltd      Proposed LT Bk     CRISIL B       4.5     Reaffirmed
                                        Loan Fac
Shri Ram Mall Pvt Ltd                   CC                 CRISIL BBB-    17.5    Upgraded from
                                                                                  CRISIL BB+
Shri Ram Mall Pvt Ltd                   TL                 CRISIL BBB-    200     Assigned
Shri Ram Mall Pvt Ltd                   Proposed LT Bk     CRISIL BBB-    82.5    Upgraded from
                                        Loan Fac                                  CRISIL BB+
Shri Ram Multicom Pvt Ltd               Overdraft          CRISIL BBB-    17.5    Upgraded from
                                                                                  CRISIL BB+
Shri Ram Multicom Pvt Ltd               Proposed LT Bk     CRISIL BBB-    50.2    Upgraded from
                                        Loan Fac                                  CRISIL BB+
Shri Ram Multicom Pvt Ltd               TL                 CRISIL BBB-    126.9   Upgraded from
                                                                                  CRISIL BB+
Shri Ram Residency Pvt Ltd              TL                 CRISIL BBB-    63.7    Upgraded from
                                                                                  CRISIL BB+
Sindu Building Equipments Ltd           CC                 CRISIL BB      11.5    Reaffirmed
Sindu Building Equipments Ltd           LT Loan            CRISIL BB      55.3    Reaffirmed
Soluble Silicates Pvt Ltd               CC                 CRISIL B       72      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Soluble Silicates Pvt Ltd               Proposed LT Bk     CRISIL B       0.5     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Soni Auto and Allied Industries Ltd     CC                 CRISIL BBB-    112.5   Reaffirmed
Soni Auto and Allied Industries Ltd     Proposed LT Bk     CRISIL BBB-    215.3   Reaffirmed
                                        Loan Fac
Soni Auto and Allied Industries Ltd     TL                 CRISIL BBB-    4.7     Reaffirmed
SRI Bhagyalakshmi Trading Corporation   Mortgage Loan Fac  CRISIL B+      30      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
SRI Bhagyalakshmi Trading Corporation   Overdraft*         CRISIL B+      200     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
* Revolving facility
SRI Bhagyalakshmi Trading Corporation   Proposed LT Bk     CRISIL B+      20      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+
Sundaram Textiles Ltd                   CC                 CRISIL BBB-    190     Reaffirmed
Sundaram Textiles Ltd                   Foreign Bill       CRISIL BBB-    15      Reaffirmed
                                        Discounting
Sundaram Textiles Ltd                   LT Loan            CRISIL BBB-    95      Reaffirmed
Supertech Ltd                           Proposed LT Bk     CRISIL D       136.8   Downgraded
                                        Loan Fac                                  from CRISIL BB
Supertech Ltd                           TL                 CRISIL D       15550.1 Downgraded
                                                                                  from CRISIL BB
Supertech Precast Technologies Pvt Ltd  CC                 CRISIL D       70      Downgraded
                                                                                  from CRISIL BB
Supertech Precast Technologies Pvt Ltd  Proposed LT Bk     CRISIL D       5       Downgraded
                                        Loan Fac                                  from CRISIL BB
Supertech Precast Technologies Pvt Ltd  TL                 CRISIL D       315     Downgraded
                                                                                  from CRISIL BB
Supertech Realtors Pvt Ltd              TL                 CRISIL D       7350    Downgraded
                                                                                  from CRISIL BB
Supertech Township Project Ltd          Rupee TL           CRISIL D       3400    Downgraded
                                                                                  from CRISIL BB
Swelore Engineering Pvt Ltd             CC                 CRISIL BB      60      Reaffirmed
Tenty Marketing Co Pvt Ltd              CC                 CRISIL B       120     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Timespac India Pvt Ltd                  CC                 CRISIL B+      90.5    Upgraded from
                                                                                  CRISIL B
Timespac India Pvt Ltd                  Proposed LT Bk     CRISIL B+      30.3    Upgraded from
                                        Loan Fac                                  CRISIL B
Timespac India Pvt Ltd                  WC TL              CRISIL B+      56.7    Upgraded from
                                                                                  CRISIL B
Trishul Tread Pvt Ltd                   CC                 CRISIL B       135     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Trishul Tread Pvt Ltd                   Proposed LT Bk     CRISIL B       15      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Victorious Kidss Educares Pvt Ltd       Overdraft          CRISIL BB      10      Reaffirmed
Victorious Kidss Educares Pvt Ltd       Proposed LT Bk     CRISIL BB      29.3    Reaffirmed
                                        Loan Fac
Victorious Kidss Educares Pvt Ltd       Secured Overdraft  CRISIL BB      28.5    Reaffirmed
                                        against term
                                        deposits
Victorious Kidss Educares Pvt Ltd       TL                 CRISIL BB      32.2    Reaffirmed
Victory Oil Gram Udyog Association      CC                 CRISIL B+      100     Reaffirmed
White Circle Mercantile Pvt Ltd         TL                 CRISIL BBB-(SO)1500    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@thomsonreuters.com)

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