December 14, 2016 / 7:11 AM / 8 months ago

CRISIL ratings for Indian debt instruments-Dec 14

Dec 14 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 13, 2016.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A. R. Enterprises - Korba               LOC                CRISIL A4      25      Suspended
Advance Metal Powder                    Inland/Import LOC  CRISIL A4+     20      Reaffirmed
Allure Tex Trend Pvt Ltd                Foreign Exchange   CRISIL A4+     2.5     Reaffirmed
                                        Forward
Amco Saft India Ltd                     BG                 CRISIL A4+     100     Downgraded
                                                                                  from CRISIL A3
Amco Saft India Ltd                     LOC                CRISIL A4+     25      Downgraded
                                                                                  from CRISIL A3
CitizenCredit Co-Operative Bank Ltd     Proposed BG*       CRISIL A3      340     Suspended
* Interchangeable with letter of credit/ packing credit/ post-shipment credit/ buyer's credit
Coastal Consolidated Structures Pvt Ltd BG                 CRISIL A4      200     Reaffirmed
Desmet Reagent Pvt Ltd                  Proposed ST Bk     CRISIL A4+     30      Suspended
                                        Loan Fac
Devesh Foods and Agro Products Pvt Ltd  BG                 CRISIL A3      50      Reaffirmed
E-Durables                              LOC                CRISIL A3+     90      Reaffirmed
E-Durables                              Sales Bill         CRISIL A3+     20      Reaffirmed
                                        Discounting
E-Vision                                Bill Discounting   CRISIL A3+     55      Reaffirmed
E-Vision                                LOC                CRISIL A3+     215     Reaffirmed
Fransko Agro Foods                      BG                 CRISIL A4      15      Suspended
Galwalia Ispat Udyog Ltd                LOC                CRISIL A3      200     Reaffirmed
Green Facade Solutions Pvt Ltd          BG                 CRISIL A4      50      Suspended
Green Facade Solutions Pvt Ltd          Proposed ST Bk     CRISIL A4      50.7    Suspended
                                        Loan Fac
Hy-Gro Chemicals Pharmtek Pvt Ltd       BG                 CRISIL A3+     10      Reaffirmed
Hy-Gro Chemicals Pharmtek Pvt Ltd       Foreign Bill       CRISIL A3+     40      Reaffirmed
                                        Discounting
Hy-Gro Chemicals Pharmtek Pvt Ltd       LOC                CRISIL A3+     100     Reaffirmed
Hy-Gro Chemicals Pharmtek Pvt Ltd       Packing Credit     CRISIL A3+     30      Reaffirmed
ICICI Securities Ltd                    ST Debt            CRISIL A1+     6000    Reaffirmed
Jivraj Tea Ltd                          BG                 CRISIL A3+     5       Reaffirmed
Jivraj Tea Ltd                          LOC                CRISIL A3+     5       Reaffirmed
Jotesriram Himghar Pvt Ltd              BG                 CRISIL A4      1.3     Suspended
K S Subbiah Pillai and Company India LtdLetter Of GuaranteeCRISIL A2+     2.5     Reaffirmed
K S Subbiah Pillai and Company India LtdLOC                CRISIL A2+     2       Reaffirmed
K S Subbiah Pillai and Company India LtdPacking Credit     CRISIL A2+     200     Reaffirmed
KAF Footwear Industries                 Bill Purchase*^    CRISIL A4+     169     Suspended
*Book debts of Rs.90 million as sublimit of bill purchase
^Packing credit and bill purchase are interchangeable
KAF Footwear Industries                 Packing Credit^    CRISIL A4+     100     Suspended
^Packing credit and bill purchase are interchangeable
Kashi Vishwanath Steels Ltd             BG                 CRISIL A3      10      Reaffirmed
Kashi Vishwanath Steels Ltd             LOC                CRISIL A3      120     Reaffirmed
Kotsons Pvt Ltd                         Export Packing     CRISIL A4      195     Reaffirmed
                                        Credit
Kotsons Pvt Ltd                         LOC & BG           CRISIL A4      610     Reaffirmed
M.G. Industries                         BG                 CRISIL A4      15      Suspended
Milkfood Ltd                            LOC                CRISIL A4+     35      Reaffirmed
Milkfood Ltd                            Supplier Line of   CRISIL A4+     40      Reaffirmed
                                        Credit
Minda Corporation Ltd                   LOC                CRISIL A1      75      Reaffirmed
Removed from 'Rating Watch with Developing Implications'
Minda Corporation Ltd                   Packing Credit in  CRISIL A1      100     Reaffirmed
                                        Foreign Currency
Removed from 'Rating Watch with Developing Implications'
Minda Corporation Ltd                   Standby Line of    CRISIL A1      720     Reaffirmed
                                        Credit
Removed from 'Rating Watch with Developing Implications'
Minda SAI Ltd                           LOC                CRISIL A1      110     Reaffirmed
Removed from Rating Watch with Developing Implications
Mother Theressa Educational Society     BG                 CRISIL A4+     17      Reaffirmed
Nakul Enterprise                        LOC                CRISIL A4      250     Reaffirmed
Naredi Texfab Pvt Ltd                   LOC                CRISIL A4      10      Assigned
Nirma Ltd                               CP                 CRISIL A1+     15000   Reaffirmed
Enhanced from Rs.12 Billion
Nirma Ltd                               LOC & BG           CRISIL A1+     4000    Reaffirmed
Partap Fabrics Pvt Ltd                  BG                 CRISIL A3      18      Reaffirmed
Pavas Polychem Pvt Ltd                  LOC                CRISIL A4      70      Reaffirmed
R.S. Mills Pvt Ltd                      BG                 CRISIL A4+     9.5     Upgraded from
                                                                                  CRISIL A4'
Rajalakshmi Educational Trust           Overdraft Fac      CRISIL A3      190     Suspended
Rashi Peripherals Pvt Ltd               BG                 CRISIL A2      80      Reaffirmed
Rashi Peripherals Pvt Ltd               LOC & BG           CRISIL A2      350     Reaffirmed
Rashi Peripherals Pvt Ltd               Overdraft Fac      CRISIL A2      122     Reaffirmed
Rashi Peripherals Pvt Ltd               Standby LOC        CRISIL A2      600     Reaffirmed
Rashi Peripherals Pvt Ltd               Standby Line of    CRISIL A2      310     Reaffirmed
                                        Credit
RNS Infrastructure Ltd                  BG                 CRISIL A3      2662.8  Reaffirmed
RNS Infrastructure Ltd                  LOC                CRISIL A3      200     Reaffirmed
S. Rajiv and Co.                        Foreign Exchange   CRISIL A4      2.6     Reaffirmed
                                        Forward
Saideep Electricals                     LOC & BG           CRISIL A4+     270     Reaffirmed
Shah Brothers                           BG                 CRISIL A4+     40      Reaffirmed
Shah Brothers                           Foreign Bill       CRISIL A4+     100     Reaffirmed
                                        Discounting
Shingora Textiles Ltd                   BG                 CRISIL A2      0.5     Suspended
Shingora Textiles Ltd                   Foreign LOC        CRISIL A2      20      Suspended
Shri Guru Ram Rai Education Mission     Overdraft Fac      CRISIL A2      337     Suspended
Shri Kishan Industries                  Proposed LOC       CRISIL A4      45      Suspended
Silvertones Speciality Textile Pvt Ltd  LOC                CRISIL A4+     60      Reaffirmed
Turquoise Investments and Finance Pvt   ST Debt Programme  CRISIL A1+     7250    Reaffirmed
Ltd                                     (Including CP)
Enhanced from Rs.6.25 Billion
Vardhman Textiles Ltd                   LOC & BG#          CRISIL A1+     2000    Reaffirmed
#Letter of credit and bank guarantee limits are interchangeable
Vardhman Textiles Ltd                   ST Debt (Including CRISIL A1+     10000   Reaffirmed
                                        CP)
Vintek Circuits (India) Pvt. Ltd.       LOC                CRISIL A4+     80      Suspended

MEDIUM TERM RATINGS:
-------------------
Milkfood Ltd                            FD                 FB+/Stable     100     Reaffirmed
Vardhman Textiles Ltd                   FD                 FAA+/Positive  -       Reaffirmed

LONG TERM RATINGS:
-------------------
A. R. Enterprises - Korba               CC                 CRISIL B+      19.5    Suspended
A. R. Enterprises - Korba               Electronic Dealer  CRISIL B+      55      Suspended
                                        Financing
                                        Scheme(e-DFS)
Abu Estate Pvt Ltd                      TL                 CRISIL BB-     100     Suspended
Advance Metal Powder                    CC                 CRISIL BB-     140     Reaffirmed
AL - Marzia Agro Foods                  CC                 CRISIL B+      27.5    Suspended
AL - Marzia Agro Foods                  Proposed LT Bk     CRISIL B+      47.5    Suspended
                                        Loan Fac
AL - Marzia Agro Foods                  Proposed TL        CRISIL B+      85      Suspended
Allure Tex Trend Pvt Ltd                Foreign Bill       CRISIL BB-     110     Reaffirmed
                                        Purchase
Amco Saft India Ltd                     CC                 CRISIL BB+     45      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Amco Saft India Ltd                     Proposed LT Bk     CRISIL BB+     80      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
Amco Saft India Ltd                     TL                 CRISIL BB+     50      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Arthanari Loom Centre Textile Pvt Ltd   CC                 CRISIL BB+     350     Suspended
Arthanari Loom Centre Textile Pvt Ltd   LT Loan            CRISIL BB+     330     Suspended
Arthanari Loom Centre Textile Pvt Ltd   Proposed LT Bk     CRISIL BB+     121.3   Suspended
                                        Loan Fac
Arthanari Loom Centre Textile Pvt Ltd   Standby Line of    CRISIL BB+     30      Suspended
                                        Credit
Atop Food Products Pvt Ltd              Overdraft Fac      CRISIL BB      100     Upgraded from
                                                                                  CRISIL BB-
Atop Food Products Pvt Ltd              Proposed LT Bk     CRISIL BB      7.3     Upgraded from
                                        Loan Fac                                  CRISIL BB-
Atop Food Products Pvt Ltd              TL                 CRISIL BB      42.7    Upgraded from
                                                                                  CRISIL BB-
Coastal Consolidated Structures Pvt Ltd CC                 CRISIL B-      170     Reaffirmed
Coastal Consolidated Structures Pvt Ltd Proposed LT Bk     CRISIL B-      90      Assigned
                                        Loan Fac
Confederation For Ayurvedic             CC                 CRISIL D       30      Assigned;
Renaissance-Keralam Ltd                                                           Suspension
                                                                                  Revoked
Confederation For Ayurvedic             TL                 CRISIL D       71.4    Assigned;
Renaissance-Keralam Ltd                                                           Suspension
                                                                                  Revoked
Delhi Metro Rail Corporation Ltd        NCD                CRISIL AA+     18000   Reaffirmed
Delhi Metro Rail Corporation Ltd        Proposed LT Bk     CRISIL AA+     18      Reaffirmed
                                        Loan Fac
Dendi Agro Farms Pvt Ltd                CC                 CRISIL BB+     150     Reaffirmed
Dendi Agro Farms Pvt Ltd                Proposed LT Bk     CRISIL BB+     79.4    Reaffirmed
                                        Loan Fac
Desmet Reagent Pvt Ltd                  Proposed LT Bk     CRISIL BB      40      Suspended
                                        Loan Fac
Devesh Foods and Agro Products Pvt Ltd  CC                 CRISIL BBB-    100     Reaffirmed
Devesh Foods and Agro Products Pvt Ltd  TL                 CRISIL BBB-    280     Reaffirmed
DS Agrifoods Pvt Ltd                    CC                 CRISIL B       110     Suspended
East India Packaging Pvt Ltd            CC                 CRISIL B+      37.8    Suspended
East India Packaging Pvt Ltd            Proposed LT Bk     CRISIL B+      0.6     Suspended
                                        Loan Fac
East India Packaging Pvt Ltd            TL                 CRISIL B+      71.6    Suspended
E-Durables                              CC                 CRISIL BBB     210     Reaffirmed
E-Durables                              Proposed LT Bk     CRISIL BBB     91      Reaffirmed
                                        Loan Fac
E-Durables                              TL                 CRISIL BBB     100     Reaffirmed
Empkee Engineers Pvt Ltd                Drop Line          CRISIL B-      50      Suspended
                                        Overdraft Fac
Empkee Engineers Pvt Ltd                LT Loan            CRISIL B-      38.4    Suspended
Empkee Engineers Pvt Ltd                Proposed WC Fac    CRISIL B-      11.6    Suspended
E-Vision                                CC                 CRISIL BBB     172     Reaffirmed
E-Vision                                Proposed LT Bk     CRISIL BBB     131     Reaffirmed
                                        Loan Fac
E-Vision                                TL                 CRISIL BBB     227     Reaffirmed
Fransko Agro Foods                      CC                 CRISIL B+      70      Suspended
Fransko Agro Foods                      Proposed WC Fac    CRISIL B+      10      Suspended
Fransko Agro Foods                      TL                 CRISIL B+      5       Suspended
Galwalia Ispat Udyog Ltd                CC                 CRISIL BBB-    312.5   Reaffirmed
Galwalia Ispat Udyog Ltd                LT Loan            CRISIL BBB-    227.2   Reaffirmed
Glint Cosmetics Pvt Ltd                 LT Loan            CRISIL B+      13      Suspended
Glint Cosmetics Pvt Ltd                 Overdraft Fac*     CRISIL B+      30      Suspended
* It is a revolving facility
Glint Cosmetics Pvt Ltd                 Proposed Overdraft CRISIL B+      20      Suspended
                                        Fac
Glint Cosmetics Pvt Ltd                 Proposed TL        CRISIL B+      32      Suspended
Green Facade Solutions Pvt Ltd          CC                 CRISIL B       10      Suspended
Green Facade Solutions Pvt Ltd          Rupee TL           CRISIL B       9.3     Suspended
Hemco Garment Pvt Ltd.                  CC                 CRISIL D       25      Downgraded
                                                                                  from CRISIL B
Hemco Garment Pvt Ltd.                  TL                 CRISIL D       40      Downgraded
                                                                                  from CRISIL B
HSBC Mutual Fund                        HSBC Capital       CRISIL AAA(SO) -       Reaffirmed
                                        Protection
                                        Oriented Fund Series II (Plan I and II)
HSBC Mutual Fund                        HSBC Capital       CRISIL AAA(SO) -       Reaffirmed
                                        Protection
                                        Oriented Fund Series II (Plan II)
Hy-Gro Chemicals Pharmtek Pvt Ltd       CC                 CRISIL BBB     30      Reaffirmed
Hy-Gro Chemicals Pharmtek Pvt Ltd       LT Loan            CRISIL BBB     80      Reaffirmed
Hy-Gro Chemicals Pharmtek Pvt Ltd       Proposed LT Bk     CRISIL BBB     50      Reaffirmed
                                        Loan Fac
ICICI Bank Ltd                          Bonds/Debentures*  CRISIL AAA     -       Reaffirmed
*The rating pertains to the erstwhile ICICI Ltd's debt instruments rated by CRISIL; these
instruments were transferred to ICICI Bank following the merger of ICICI Ltd
ICICI Bank Ltd                          Upper Tier-II BondsCRISIL         140000  Reaffirmed
                                                           AAA/Stable
ICICI Bank Ltd                          Upper Tier-II      CRISIL         611     Reaffirmed
                                        Bonds# (Under      AAA/Stable
                                        Basel II)
'#The rating pertains to upper Tier-II bonds issued by the erstwhile The Bank of Rajasthan Ltd
(BoR), which have been transferred to ICICI Bank Ltd (ICICI Bank) following the merger of BoR
with ICICI Bank Ltd.
ICICI Bank Ltd                          Tier-I Perpetual   CRISIL         37000   Reaffirmed
                                        Bonds              AAA/Stable
ICICI Securities Ltd                    NCD                CRISIL         500     Reaffirmed
                                                           AAA/Stable
India Infrastructure Finance Co. Ltd    Bonds*             CRISIL         5000    Reaffirmed
                                                           AAA(SO)/Stable
India Infrastructure Finance Co. Ltd    Bonds              CRISIL         12000   Reaffirmed
                                                           AAA/Stable
Jivraj Tea Ltd                          CC                 CRISIL BBB     100     Reaffirmed
Jivraj Tea Ltd                          TL                 CRISIL BBB     126.5   Reaffirmed
Jotesriram Himghar Pvt Ltd              CC                 CRISIL B       34      Suspended
Jotesriram Himghar Pvt Ltd              LT Loan            CRISIL B       59      Suspended
Jotesriram Himghar Pvt Ltd              WC Loan            CRISIL B       5.5     Suspended
K S Subbiah Pillai and Company India LtdCC                 CRISIL A-      10      Reaffirmed
K S Subbiah Pillai and Company India LtdTL                 CRISIL A-      16.6    Reaffirmed
KAF Footwear Industries                 TL                 CRISIL BB      11      Suspended
Kashi Vishwanath Steels Ltd             CC                 CRISIL BBB-    221.1   Reaffirmed
Kashi Vishwanath Steels Ltd             Proposed LT Bk     CRISIL BBB-    30      Reaffirmed
                                        Loan Fac
Key Locks India                         CC                 CRISIL B       60      Suspended
Key Locks India                         Proposed LT Bk     CRISIL B       20      Suspended
                                        Loan Fac
Koneru Lakshmaiah Education Foundation  LT Loan            CRISIL A+      500     Reaffirmed
Koneru Lakshmaiah Education Foundation  Proposed LT Bk     CRISIL A+      2000    Reaffirmed
                                        Loan Fac
Kotsons Pvt Ltd                         CC                 CRISIL B       230     Reaffirmed
Kotsons Pvt Ltd                         Proposed LT Bk     CRISIL B       100     Reaffirmed
                                        Loan Fac
Kotsons Pvt Ltd                         Standby LOC        CRISIL B       50      Reaffirmed
M.G. Industries                         CC                 CRISIL B       40      Suspended
M.G. Industries                         LT Loan            CRISIL B       1.3     Suspended
M.G. Industries                         Proposed LT Bk     CRISIL B       13.7    Suspended
                                        Loan Fac
Madison Holding                         LT Loan            CRISIL D       140     Suspended
Milkfood Ltd                            CC                 CRISIL BB+     470     Reaffirmed
Milkfood Ltd                            Proposed LT Bk     CRISIL BB+     100     Reaffirmed
                                        Loan Fac
Milkfood Ltd                            Standby Line of    CRISIL BB+     30      Reaffirmed
                                        Credit
Milkfood Ltd                            TL                 CRISIL BB+     75      Reaffirmed
Minda Corporation Ltd                   CC                 CRISIL A       535     Reaffirmed
Removed from 'Rating Watch with Developing Implications'
Minda Corporation Ltd                   External           CRISIL A       260.9   Reaffirmed
                                        Commercial
                                        Borrowings
Removed from 'Rating Watch with Developing Implications'
Minda Corporation Ltd                   Proposed LT Bk     CRISIL A       236.3   Reaffirmed
                                        Loan Fac
Removed from 'Rating Watch with Developing Implications'
Minda Corporation Ltd                   TL                 CRISIL A       172.8   Reaffirmed
Removed from 'Rating Watch with Developing Implications'
Minda Furukawa Electric Pvt Ltd         Bill Discounting   CRISIL BBB+    75      Reaffirmed
Minda Furukawa Electric Pvt Ltd         CC                 CRISIL BBB+    60      Reaffirmed
Minda Furukawa Electric Pvt Ltd         CC & WC demand loanCRISIL BBB+    15      Reaffirmed
Minda SAI Ltd                           CC                 CRISIL A       645     Reaffirmed
Removed from Rating Watch with Developing Implications
Minda SAI Ltd                           TL                 CRISIL A       445     Reaffirmed
Removed from Rating Watch with Developing Implications
Minda VAST Access Systems Pvt Ltd       CC                 CRISIL A-      250     Upgraded from
                                                                                  CRISIL BBB+
Mother Theressa Educational Society     Overdraft Fac      CRISIL BB+     50      Reaffirmed
Mother Theressa Educational Society     Proposed LT Bk     CRISIL BB+     271.3   Reaffirmed
                                        Loan Fac
Mother Theressa Educational Society     TL                 CRISIL BB+     180     Reaffirmed
Nakul Enterprise                        CC                 CRISIL B       50      Reaffirmed
Naredi Texfab Pvt Ltd                   TL                 CRISIL B+      77.3    Assigned
Naredi Texfab Pvt Ltd                   CC                 CRISIL B+      40      Assigned
Navya Infracon Projects India Pvt Ltd   CC                 CRISIL B+      50      Assigned
Nemcare Hospitals Pvt Ltd               TL                 CRISIL BB      195     Suspended
Nilachal Refractories Ltd               CC                 CRISIL D       59.2    Reaffirmed
Nilachal Refractories Ltd               Proposed LT Bk     CRISIL D       403.3   Reaffirmed
                                        Loan Fac
Nirma Ltd                               CC*^$              CRISIL AA      12000   Reaffirmed
* Interchangeable with letter of credit and bank guarantee to the extent of Rs.3950 million;^
Interchangeable with inland/import letter of credit to the extent of Rs.250 million; $
Interchangeable with bank guarantee to the extent of Rs.400 million
Nirma Ltd                               Proposed LT Bk     CRISIL AA      3000    Reaffirmed
                                        Loan Fac
Nirma Ltd                               TL                 CRISIL AA      25000   Assigned
Nirma Ltd                               NCDs               CRISIL         25000   Assigned
                                                           AA/Negative
Nirma Ltd                               NCDs               CRISIL         10000   Reaffirmed
                                                           AA/Negative
Nirma Ltd                               NCDs               CRISIL         5200    Reaffirmed
                                                           AA/Negative
Nirma Ltd                               NCDs               CRISIL         300     Reaffirmed
                                                           AA/Negative
Nirma Ltd                               NCDs               CRISIL         1500    Reaffirmed
                                                           AA/Negative
Nirma Ltd                               NCDs               CRISIL         4500    Reaffirmed
                                                           AA/Negative
Nishi Forex and Leisure Pvt. Ltd.       Proposed LT Bk     CRISIL B+      255     Suspended
                                        Loan Fac
Nishi Forex and Leisure Pvt. Ltd.       Proposed Overdraft CRISIL B+      112.5   Suspended
                                        Fac
Nishi Forex and Leisure Pvt. Ltd.       Proposed TL        CRISIL B+      32.5    Suspended
North East Medical Care And Research    Proposed LT Bk     CRISIL BB      50      Suspended
Centre Pvt Ltd                          Loan Fac
Paarth Infratech Pvt Ltd                TL                 CRISIL B       360     Suspended
Parameshwara Industries                 CC                 CRISIL B+      125     Suspended
Partap Fabrics Pvt Ltd                  CC                 CRISIL BBB-    150     Reaffirmed
Partap Fabrics Pvt Ltd                  Proposed TL        CRISIL BBB-    85.3    Reaffirmed
Partap Fabrics Pvt Ltd                  TL                 CRISIL BBB-    494.7   Reaffirmed
Pavas Polychem Pvt Ltd                  CC                 CRISIL B+      5       Upgraded from
                                                                                  CRISIL B
Phalada Agro Research Foundations Pvt   CC                 CRISIL BB      40      Reaffirmed
Ltd
Phalada Agro Research Foundations Pvt   Export Packing     CRISIL BB      65      Reaffirmed
Ltd                                     Credit
Phalada Agro Research Foundations Pvt   LT Bk Fac          CRISIL BB      60      Reaffirmed
Ltd
Phalada Agro Research Foundations Pvt   LT Loan            CRISIL BB      33.4    Reaffirmed
Ltd
Phalada Agro Research Foundations Pvt   Standby Line of    CRISIL BB      5       Reaffirmed
Ltd                                     Credit
Phalada Agro Research Foundations Pvt   Proposed LT Bk     CRISIL BB      16.6    Reaffirmed
Ltd                                     Loan Fac
Pooja Solvex                            CC                 CRISIL B+      39      Suspended
Pooja Solvex                            Proposed LT Bk     CRISIL B+      35.4    Suspended
                                        Loan Fac
Pooja Solvex                            TL                 CRISIL B+      2.6     Suspended
Pristine Properties                     Proposed LT Bk     CRISIL BB+     380     Suspended
                                        Loan Fac
Pristine Properties                     TL                 CRISIL BB+     120     Suspended
R.S. Mills Pvt Ltd                      CC                 CRISIL BB-     150     Upgraded from
                                                                                  CRISIL
                                                                                  B+/Stable
R.S. Mills Pvt Ltd                      TL                 CRISIL BB-     92.9    Upgraded from
                                                                                  CRISIL
                                                                                  B+/Stable
Rajalakshmi Educational Trust           LT Loan            CRISIL BBB-    410     Suspended
Rashi Peripherals Pvt Ltd               CC                 CRISIL BBB+    1710    Reaffirmed
Reddy and Reddy Automobiles             CC                 CRISIL B+      60      Suspended
RNS Infrastructure Ltd                  CC                 CRISIL BBB-    350     Reaffirmed
RNS Infrastructure Ltd                  Overdraft Fac      CRISIL BBB-    150     Reaffirmed
RNS Infrastructure Ltd                  Proposed LT Bk     CRISIL BBB-    1637.2  Reaffirmed
                                        Loan Fac
S. Rajiv and Co.                        Post Shipment      CRISIL B+      60      Reaffirmed
                                        Credit
S. Rajiv and Co.                        Proposed LT Bk     CRISIL B+      27.4    Reaffirmed
                                        Loan Fac
Saideep Electricals                     CC                 CRISIL BB      50      Upgraded from
                                                                                  CRISIL BB-
Saideep Electricals                     Proposed LT Bk     CRISIL BB      180     Assigned
                                        Loan Fac
Samraksha Health Care Pvt Ltd           LT Loan            CRISIL B       100     Assigned
Saraswati Rice and General Mills -      TL                 CRISIL BB-     15      Assigned
Taraori
Saraswati Rice and General Mills -      CC                 CRISIL BB-     110     Assigned
Taraori
Saraswati Rice and General Mills -      Proposed LT Bk     CRISIL BB-     25      Assigned
Taraori                                 Loan Fac
Shah Brothers                           CC                 CRISIL BB+     40      Reaffirmed
Shingora Textiles Ltd                   CC                 CRISIL BBB+    130     Suspended
Shingora Textiles Ltd                   Standby Line of    CRISIL BBB+    30      Suspended
                                        Credit
Shingora Textiles Ltd                   TL                 CRISIL BBB+    379.5   Suspended
Shivalik Communications Pvt Ltd         CC                 CRISIL BB      400     Assigned
Shivalik Distribution Pvt Ltd           CC                 CRISIL BB      450     Assigned
Shri Guru Ram Rai Education Mission     Proposed LT Bk     CRISIL BBB+    13      Suspended
                                        Loan Fac
Shri Kishan Industries                  CC                 CRISIL B       15      Suspended
Shri Kishan Industries                  LT Loan            CRISIL B       5       Suspended
Shri Kishan Industries                  Proposed CC Limit  CRISIL B       35      Suspended
Silvertones Speciality Textile Pvt Ltd  CC                 CRISIL BB-     190     Reaffirmed
Silvertones Speciality Textile Pvt Ltd  TL                 CRISIL BB-     30      Reaffirmed
Sneha Farms Pvt Ltd                     CC                 CRISIL BBB     3456.3  Reaffirmed
Sneha Farms Pvt Ltd                     LT Loan            CRISIL BBB     2363.7  Reaffirmed
Sneha Foods & Feeds Pvt Ltd             CC                 CRISIL BBB     910     Reaffirmed
Sneha Foods & Feeds Pvt Ltd             LT Loan            CRISIL BBB     43.2    Reaffirmed
Sneha Foods & Feeds Pvt Ltd             TL                 CRISIL BBB     165     Reaffirmed
Sona Sati Organics Pvt Ltd              CC                 CRISIL C       80      Upgraded from
                                                                                  CRISIL D
Sona Sati Organics Pvt Ltd              TL                 CRISIL C       498.2   Upgraded from
                                                                                  CRISIL D
South India Spinning Mills Pvt Ltd      LT Loan            CRISIL B       113     Assigned
South India Spinning Mills Pvt Ltd      Buyer Credit Limit CRISIL B       52      Assigned
South India Spinning Mills Pvt Ltd      CC                 CRISIL B       60      Assigned
Sri Ramprasad Skyscrapers Pvt Ltd       TL                 CRISIL BB+     200     Reaffirmed
Star Plastics                           CC                 CRISIL BB-     180     Reaffirmed
Star Plastics                           Proposed LT Bk     CRISIL BB-     20      Reaffirmed
                                        Loan Fac
Star Plastics                           TL                 CRISIL BB-     100     Reaffirmed
Swastik Ginning and Pressing Industries CC                 CRISIL B+      70      Assigned
U4iC International Pvt Ltd              Bill Discounting   CRISIL BBB+    25      Reaffirmed
U4iC International Pvt Ltd              CC                 CRISIL BBB+    25      Reaffirmed
U4iC International Pvt Ltd              Proposed WC Fac    CRISIL BBB+    50      Reaffirmed
Vardhman Textiles Ltd                   CC*                CRISIL AA      15000   Reaffirmed
*Includes Rs 11550 million sublimit for packing credit
Vardhman Textiles Ltd                   Foreign Bill       CRISIL AA      2500    Reaffirmed
                                        Purchase
Vardhman Textiles Ltd                   FB Fac^            CRISIL AA      2000    Reaffirmed
^Interchangeable with non-fund-based limits
Vardhman Textiles Ltd                   Proposed LT Bk     CRISIL AA      2.3     Reaffirmed
                                        Loan Fac
Vardhman Textiles Ltd                   Proposed Rupee TL  CRISIL AA      8460    Reaffirmed
Vardhman Textiles Ltd                   Rupee TL           CRISIL AA      24200   Reaffirmed
Varun Breeding Farms Pvt Ltd            CC                 CRISIL BB+     105.7   Reaffirmed
Varun Breeding Farms Pvt Ltd            TL                 CRISIL BB+     68.7    Reaffirmed
Veekesy Elastomers Pvt Ltd              CC                 CRISIL A-      160     Reaffirmed
Veekesy Elastomers Pvt Ltd              LT Loan            CRISIL A-      70      Reaffirmed
Veekesy Elastomers Pvt Ltd              Proposed LT Bk     CRISIL A-      15.3    Reaffirmed
                                        Loan Fac
Veekesy Footcare India Pvt Ltd          CC                 CRISIL A-      150     Reaffirmed
Veekesy Footcare India Pvt Ltd          Proposed LT Bk     CRISIL A-      7       Reaffirmed
                                        Loan Fac
Veekesy Footcare India Pvt Ltd          TL                 CRISIL A-      34      Reaffirmed
Veekesy Sandals India Pvt Ltd           CC                 CRISIL A-      160     Reaffirmed
Veekesy Sandals India Pvt Ltd           LT Loan            CRISIL A-      102.5   Reaffirmed
Venus Remedies Ltd                      BG                 CRISIL D       25      Reaffirmed
Venus Remedies Ltd                      CC                 CRISIL D       1050    Reaffirmed
Venus Remedies Ltd                      Funded Interest TL CRISIL D       95.7    Reaffirmed
Venus Remedies Ltd                      LOC                CRISIL D       255     Reaffirmed
Venus Remedies Ltd                      LOC & BG           CRISIL D       90      Reaffirmed
Venus Remedies Ltd                      TL                 CRISIL D       1467.7  Reaffirmed
Vintek Circuits (India) Pvt. Ltd.       CC                 CRISIL BB      20      Suspended
VKC Footprints Global Pvt Ltd           CC                 CRISIL A-      170     Reaffirmed
VKC Footprints Global Pvt Ltd           LT Loan            CRISIL A-      162     Reaffirmed
VKC Footprints Global Pvt Ltd           Proposed LT Bk     CRISIL A-      13      Reaffirmed
                                        Loan Fac
VKC Footsteps India Pvt Ltd             CC                 CRISIL A-      120     Reaffirmed
VKC Footsteps India Pvt Ltd             TL                 CRISIL A-      57.8    Reaffirmed
Wings Travels Management (India) Pvt LtdBill Discounting   CRISIL BBB-    15      Reaffirmed
Wings Travels Management (India) Pvt LtdCC                 CRISIL BBB-    160     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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