December 28, 2016 / 6:45 AM / 8 months ago

CRISIL ratings for Indian debt instruments-Dec 28

Dec 28 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 27, 2016.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aarti Drugs Ltd                         ST Loan            CRISIL A1      1250    Reaffirmed
Aarti Drugs Ltd                         WC Fac             CRISIL A1      6410    Reaffirmed
Aarti Drugs Ltd                         CP                 CRISIL A1      500     Reaffirmed
 (Enhanced from Rs.250 Million)
Ajay Knitwears & Fabrics Pvt Ltd        LOC                CRISIL A4+     10      Suspended
Alshiza Foods                           Proposed LOC & BG  CRISIL A4      8       Assigned
Arinits Sales Pvt Ltd                   LOC                CRISIL A4      290     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
ARS Steels & Alloy International Pvt LtdLOC                CRISIL A4+     1060    Downgraded
                                                                                  from CRISIL A3
Atul Engg. Udyog                        BG                 CRISIL A4+     25      Suspended
Balaji Polytex Industry Pvt Ltd         BG                 CRISIL A4      5       Suspended
Bank of Maharashtra                     CDs                CRISIL A1+     150000  Reaffirmed
BSR Infratech India Ltd                 BG                 CRISIL A2      2200    Reaffirmed
Buland Housing Pvt Ltd                  BG                 CRISIL A4+     15      Suspended
Calco Poly Technik Pvt Ltd              LOC                CRISIL A4+     40      Suspended
Calcutta Overseas                       Foreign            CRISIL A4+     90      Suspended
                                        Documentary Bills
                                        Purchase
Calcutta Overseas                       Packing Credit     CRISIL A4+     50      Suspended
Calcutta Overseas                       ST Loan            CRISIL A4+     90      Suspended
Central Transport Company               Overdraft Fac      CRISIL A4+     50      Suspended
Coochbehar Tea Co. Ltd                  BG                 CRISIL A4+     5       Suspended
Ediz Ceramic Pvt Ltd                    BG                 CRISIL A4      10.6    Reaffirmed
Equiplus India Export Pvt Ltd           Export Packing     CRISIL A4      45      Suspended
                                        Credit
Equiplus India Export Pvt Ltd           Foreign Bill       CRISIL A4      15      Suspended
                                        Purchase
Equiplus India Export Pvt Ltd           Inland/Import LOC  CRISIL A4      50      Suspended
Force Motors Ltd                        BG                 CRISIL A1+     200     Reaffirmed
Force Motors Ltd                        LOC                CRISIL A1+     400     Reaffirmed
Force Motors Ltd                        CP Programme       CRISIL A1+     2000    Assigned
G B Springs Pvt Ltd                     BG                 CRISIL A4+     40      Suspended
G B Springs Pvt Ltd                     LOC                CRISIL A4+     20      Suspended
HPL Additives Ltd                       BG%                CRISIL A2+     50      Reaffirmed
% Rs. 50 million is from Citi Bank which is fully interchangeable with cash credit facilities of
respective banks.
HPL Additives Ltd                       BG^                CRISIL A2+     50      Reaffirmed
^ Rs. 50 million is from HDFC Bank which is fully interchangeable with cash credit facilities of
respective banks. 
HPL Additives Ltd                       BG&                CRISIL A2+     50      Reaffirmed
& Rs. 50 million is from Kotak Mahindra Bank which is fully interchangeable with cash credit
facilities of respective banks.    
IndusInd Bank Ltd                        CDs               CRISIL A1+     250000  Reaffirmed
IndusInd Bank Ltd                       ST FD Programme    CRISIL A1+     -       Reaffirmed
Iworld Business Solutions Pvt Ltd       BG                 CRISIL A2      32.5    Upgraded from
                                                                                  CRISIL A3+
KDDL Ltd                                LOC & BG           CRISIL A3      125     Downgraded
                                                                                  from CRISIL
                                                                                  A3+
M/s AGNI                                Export Packing     CRISIL A4+     50      Suspended
                                        Credit
M/s AGNI                                Foreign Bill       CRISIL A4+     25      Suspended
                                        Purchase
M/s AGNI                                Standby Line of    CRISIL A4+     15      Suspended
                                        Credit
Mani Mahesh Ispat Pvt Ltd               LOC                CRISIL A4+     10      Suspended
Megaflex Plastics Ltd                   Proposed ST Bk     CRISIL A3      40      Suspended
                                        Loan Fac
MGG Infra Projects Pvt Ltd              BG                 CRISIL A4      30      Assigned
Nippon Audiotronix Pvt Ltd              Foreign LOC        CRISIL A2+     600     Reaffirmed
P. C. Udyog                             Export Packing     CRISIL A4      62.5    Suspended
                                        Credit
P. C. Udyog                             Overdraft Fac      CRISIL A4      10      Suspended
P. C. Udyog                             Proposed ST Bk     CRISIL A4      7.5     Suspended
                                        Loan Fac
Pace Power Systems Pvt Ltd              BG                 CRISIL A3+     1560    Reaffirmed
Pace Power Systems Pvt Ltd              LOC                CRISIL A3+     300     Reaffirmed
Pallickal Roller Flour Mills Pvt Ltd    Overdraft Fac      CRISIL A4+     7.5     Assigned
Parcos Tiles LLP                        BG                 CRISIL A4      40      Assigned
Pawansut Enterprises                    BG                 CRISIL A4      50      Suspended
R.L.Construction                        BG                 CRISIL A4      70      Suspended
Railtrack Concrete Products Pvt Ltd     Inland/Import LOC  CRISIL A4      20      Assigned
Railtrack Concrete Products Pvt Ltd     BG                 CRISIL A4      10      Assigned
Rajat Infra Developers Pvt Ltd          BG                 CRISIL A4      70      Suspended
Rajesh Rayon Silk Mills Ltd             Packing Credit     CRISIL A4+     70      Reaffirmed
Rameswar Agro Industries Pvt Ltd        BG                 CRISIL A4+     10      Suspended
Ratanpur Cold Storage Pvt Ltd           BG                 CRISIL A4      1.8     Suspended
Rattan Singh Builders Pvt Ltd           BG                 CRISIL A4+     200     Reaffirmed
Raudra Technocrats - Gandhinagar        Proposed ST Bk     CRISIL A4+     10      Assigned
                                        Loan Fac
Raudra Technocrats - Gandhinagar        BG                 CRISIL A4+     50      Assigned
SBI Global Factors Ltd                  ST Debt Programme  CRISIL A1+     10000   Reaffirmed
(Reduced from Rs.20 Billion)
Shree Agencies Pvt Ltd                  BG                 CRISIL A3+     3       Reaffirmed

Shree Agencies Pvt Ltd                  Bill Purchase      CRISIL A3+     90      Reaffirmed
Shree Agencies Pvt Ltd                  Export Bill        CRISIL A3+     50      Reaffirmed
                                        Negotiation
Shree Agencies Pvt Ltd                  Export Packing     CRISIL A3+     140     Reaffirmed
                                        Credit
Shree Agencies Pvt Ltd                  Foreign LOC        CRISIL A3+     2       Reaffirmed
Siyaram Silk Mills Ltd                  BG                 CRISIL A1+     97.9    Reaffirmed
Siyaram Silk Mills Ltd                  LOC                CRISIL A1+     102.1   Reaffirmed
Siyaram Silk Mills Ltd                  CP Programme       CRISIL A1+     1000    Reaffirmed
(Enhanced from Rs.750 Million)
Standard Infratech India Pvt Ltd        BG                 CRISIL A3      160     Suspended
Standard Infratech India Pvt Ltd        LOC                CRISIL A3      20      Suspended
Standard Infratech India Pvt Ltd        Proposed BG        CRISIL A3      120     Suspended
Super Gases and Appliances Pvt Ltd      BG                 CRISIL A4+     4       Assigned
V. R. & Company                         BG                 CRISIL A4+     45      Reaffirmed
Valuepoint Systems Pvt Ltd              BG                 CRISIL A4+     110     Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Force Motors Ltd                         FD                FAA+           500     Reaffirmed
KDDL Ltd                                 FD Programme      FA-            160     Reaffirmed

LONG TERM RATINGS:
-------------------

IDFCMF's schemes                        IDFC Dynamic Bond  CRISIL AAAmfs  -       Reaffirmed
                                        Fund
IDFCMF's schemes                        IDFC Super Saver   CRISIL AAAmfs  -       Reaffirmed
                                        Income Fund -
                                        Investment Plan
Aarti Drugs Ltd                         CC                 CRISIL A       300     Reaffirmed
Aarti Drugs Ltd                         Proposed TL        CRISIL A       690     Reaffirmed
Aarti Drugs Ltd                         Proposed WC Fac    CRISIL A       6       Reaffirmed
Aarti Drugs Ltd                         TL                 CRISIL A       2154    Reaffirmed
ABC Inc                                 CC                 CRISIL B+      90      Suspended
ABC Inc                                 TL                 CRISIL B+      10      Suspended
ABC Transcarriers Pvt Ltd               Proposed LT Bk     CRISIL B+      200     Suspended
                                        Loan Fac
ACG Hospitality Pvt Ltd                 TL                 CRISIL B-      200     Suspended
Action Batteries Pvt Ltd                CC                 CRISIL B+      200     Suspended
Agarwal Business House                  CC                 CRISIL BB+     90      Assigned
Ajay Knitwears & Fabrics Pvt Ltd        CC                 CRISIL BB-     70      Suspended
Ajay Knitwears & Fabrics Pvt Ltd        Proposed LT Bk     CRISIL BB-     40      Suspended
                                        Loan Fac
Alpha Associates                        Lease Rental       CRISIL A+      0.8     Reaffirmed
                                        Discounting Loan
Alshiza Foods                           CC                 CRISIL B       42      Assigned
Alshiza Foods                           Proposed CC Limit  CRISIL B       50      Assigned
Amravati Municipal Corporation          Corporate Credit   CCR BBB-       -       Assigned
                                        Rating
Amritesh Agro Products Pvt Ltd          CC                 CRISIL B+      65      Suspended
Amritesh Agro Products Pvt Ltd          TL                 CRISIL B+      60      Suspended
Arinits Sales Pvt Ltd                   CC                 CRISIL B+      115     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Arinits Sales Pvt Ltd                   Proposed LT Bk     CRISIL B+      50      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
ARS Steels & Alloy International Pvt LtdCC                 CRISIL BB+     290     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
ARS Steels & Alloy International Pvt LtdLT Loan            CRISIL BB+     101.3   Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
ARS Steels & Alloy International Pvt LtdProposed LT Bk     CRISIL BB+     20      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
Atlas Dye - Chem India Pvt Ltd          CC                 CRISIL BB      100     Upgraded from
                                                                                  CRISIL BB-
Atlas Dye - Chem India Pvt Ltd          TL                 CRISIL BB      60      Upgraded from
                                                                                  CRISIL BB-
Atlas Dye - Chem India Pvt Ltd          Proposed LT Bk     CRISIL BB      2.1     Upgraded from
                                        Loan Fac                                  CRISIL BB-
Atul Engg. Udyog                        CC                 CRISIL BB      90      Suspended
Atul Engg. Udyog                        LT Bk Fac          CRISIL BB      10      Suspended
B. K. Gears Pvt Ltd                     CC                 CRISIL BB-     35      Suspended
B. K. Gears Pvt Ltd                     TL                 CRISIL BB-     235     Suspended
B. R. Oil Mills                         CC                 CRISIL BB      85      Suspended
B. R. Oil Mills                         Proposed LT Bk     CRISIL BB      4       Suspended
                                        Loan Fac
B. R. Oil Mills                         TL                 CRISIL BB      11      Suspended
B.P.Packagings Pvt Ltd                  CC                 CRISIL BB-     41.5    Suspended
B.P.Packagings Pvt Ltd                  LT Loan            CRISIL BB-     20      Suspended
Balaji Polytex Industry Pvt Ltd         CC                 CRISIL B+      70      Suspended
Balaji Polytex Industry Pvt Ltd         Proposed LT Bk     CRISIL B+      20      Suspended
                                        Loan Fac
Balaji Polytex Industry Pvt Ltd         TL                 CRISIL B+      70      Suspended
Bank of Maharashtra                     Tier-I Bonds       CRISIL A-      10000   Reaffirmed
                                        (Under Basel III)
Bank of Maharashtra                      Perpetual Tier-I  CRISIL A+      2950    Reaffirmed
                                        Bonds (Under Basel
                                        II)
Bank of Maharashtra                      Upper Tier-II     CRISIL A+      9500    Reaffirmed
                                        Bonds (Under Basel
                                        II)
[Reduced from Rs.12.5 Billion]
Bank of Maharashtra                     Lower Tier-II      CRISIL AA-     13300   Reaffirmed
                                        Bonds (Under Basel
                                        II)
Bhadane's Hi-Tech Technology Computers  CC                 CRISIL BB-     50      Downgraded
Pvt Ltd                                                                           from CRISIL
                                                                                  BB-
Bhadane's Hi-Tech Technology Computers  Proposed LT Bk     CRISIL D       100     Downgraded
Pvt Ltd                                 Loan Fac                                  from CRISIL
                                                                                  BB-
Bharathi Vidhyalaya Educational Trust   TL                 CRISIL BB      140     Reaffirmed
Bioworld Merchandising India Pvt Ltd    CC                 CRISIL BB      120     Reaffirmed
BSR Infratech India Ltd                 Overdraft Fac      CRISIL BBB+    300     Reaffirmed
Buland Housing Pvt Ltd                  Proposed LT Bk     CRISIL BB      100     Suspended
                                        Loan Fac
Buland Housing Pvt Ltd                  TL                 CRISIL BB      100     Suspended
Calco Poly Technik Pvt Ltd              CC                 CRISIL BB-     35      Suspended
Calco Poly Technik Pvt Ltd              Proposed LT Bk     CRISIL BB-     8.2     Suspended
                                        Loan Fac
Calco Poly Technik Pvt Ltd              Standby Line of    CRISIL BB-     6       Suspended
                                        Credit
Calco Poly Technik Pvt Ltd              TL                 CRISIL BB-     39      Suspended
Chintels Education Society              Proposed LT Bk     CRISIL B+      80      Suspended
                                        Loan Fac
Classique Associates                    Proposed Rupee TL  CRISIL A+      0.6     Reaffirmed
Coochbehar Tea Co. Ltd                  CC                 CRISIL BB-     25      Suspended
Coochbehar Tea Co. Ltd                  TL                 CRISIL BB-     30      Suspended
Crescendo Associates                    Rupee TL           CRISIL A+      0.7     Reaffirmed
Dass Rice & Oil Mills                   CC                 CRISIL B       80      Suspended
Dass Rice & Oil Mills                   Export Packing     CRISIL B       10      Suspended
                                        Credit
Deepak Agro Pvt. Ltd.                   CC                 CRISIL B+      100     Suspended
Deepak Agro Pvt. Ltd.                   Proposed LT Bk     CRISIL B+      55      Suspended
                                        Loan Fac
Deepak Agro Pvt. Ltd.                   TL                 CRISIL B+      15      Suspended
Deepak Polyester Pvt Ltd                CC                 CRISIL B+      100     Downgraded
                                                                                  from CRISIL BB
Deepak Polyester Pvt Ltd                TL                 CRISIL B+      25      Downgraded
                                                                                  from CRISIL BB
Dev Shree Cotsyn Pvt Ltd                CC                 CRISIL BB+     40      Suspended
Dev Shree Cotsyn Pvt Ltd                LT Loan            CRISIL BB+     105     Suspended
Ediz Ceramic Pvt Ltd                    CC                 CRISIL C       27.5    Downgraded
                                                                                  from CRISIL B
Ediz Ceramic Pvt Ltd                    Proposed LT Bk     CRISIL C       7.5     Downgraded
                                        Loan Fac                                  from CRISIL B
EMC Super Speciality Hospitals Pvt Ltd  CC                 CRISIL B+      100     Suspended
EMC Super Speciality Hospitals Pvt Ltd  Proposed LT Bk     CRISIL B+      25      Suspended
                                        Loan Fac
EMC Super Speciality Hospitals Pvt Ltd  TL                 CRISIL B+      75      Suspended
Equiplus India Export Pvt Ltd           CC-Stock           CRISIL B       32.5    Suspended
Equiplus India Export Pvt Ltd           Proposed BG        CRISIL B       2.5     Suspended
Force Motors Ltd                        Proposed CC Limit  CRISIL AA      1300    Reaffirmed
G B Springs Pvt Ltd                     CC                 CRISIL BB      80      Suspended
Gamma Constructions Pvt Ltd             Rupee TL           CRISIL A+      2.5     Reaffirmed
Garnet Construction Ltd                 Overdraft Fac      CRISIL BB+     50      Reaffirmed
Garnet Construction Ltd                 Lease Rental       CRISIL BBB(SO) 144.5   Reaffirmed
                                        Discounting Loan
Golden Apple                            CC                 CRISIL B+      39.2    Suspended
Golden Apple                            Proposed LT Bk     CRISIL B+      43.7    Suspended
                                        Loan Fac
Golden Apple                            TL                 CRISIL B+      87.1    Suspended
Gupta Entertainment Pvt Ltd             LT Loan            CRISIL B       95      Suspended
Guru Nanak Rice and Gen. Mills          CC                 CRISIL B       100     Suspended
Guru Nanak Rice and Gen. Mills          Proposed LT Bk     CRISIL B       22.5    Suspended
                                        Loan Fac
Guru Nanak Rice and Gen. Mills          TL                 CRISIL B       10      Suspended
Halco Aluminium Extrusions              CC                 CRISIL B+      28.5    Suspended
Halco Aluminium Extrusions              Proposed LT Bk     CRISIL B+      59.5    Suspended
                                        Loan Fac
Halco Aluminium Extrusions              TL                 CRISIL B+      7       Suspended
Hiranandani Builders                    Lease Rental       CRISIL A+      12.5    Reaffirmed
                                        Discounting Loan
Hiranandani Constructions Pvt Ltd       Rupee TL           CRISIL A+      0.5     Reaffirmed
Hooghly Agro Products Pvt Ltd           CC                 CRISIL BB-     35.4    Suspended
Hooghly Agro Products Pvt Ltd           Proposed LT Bk     CRISIL BB-     20.1    Suspended
                                        Loan Fac
Hooghly Agro Products Pvt Ltd           TL                 CRISIL BB-     33.7    Suspended
Hotel Shakti Continental                TL                 CRISIL D       100     Suspended
HPL Additives Ltd                       CC!                CRISIL A-      100     Reaffirmed
!Rs. 100 million is from Kotak Mahindra Bank which is fully interchangeable with working capital
demand loan, export packing credit, pre-shipment credit in foreign currency, letter of credit,
buyer's credit, foreign bill discounting/negotiation, bank guarantee
HPL Additives Ltd                       CC*                CRISIL A-      150     Reaffirmed
*Rs. 150 million is from HDFC Bank which fully interchangeable with letter of credit, buyer's
credit, export packing credit, pre-post shipment credit in foreign currency, foreign bill
discounting/purchase, bank guarantee
HPL Additives Ltd                       CC#                CRISIL A-      287.5   Reaffirmed
# Rs. 287.5 million is from Citi Bank which is fully interchangeable with Letter of credit,
working capital demand loan, buyer's credit, pre-post shipment export finance, bank guarantee
HPL Additives Ltd                       CC$                CRISIL A-      300     Reaffirmed
$ Rs. 300 million is from Yes Bank which is fully interchangeable with pre-post shipment credit,
letter of undertaking for buyer's credit, foreign letter of credit.
IndusInd Bank Ltd                        Infrastructure    CRISIL AA+     15000   Assigned
                                        Bond Issue
Iworld Business Solutions Pvt Ltd       CC                 CRISIL BBB+    250     Upgraded from
                                                                                  CRISIL BBB
Iworld Digital Solutions Pvt Ltd        CC                 CRISIL BBB     150     Assigned
J. S. Bedi Agro Industries              CC                 CRISIL B       70      Suspended
J. S. Bedi Agro Industries              Proposed LT Bk     CRISIL B       129.7   Suspended
                                        Loan Fac
J. S. Bedi Agro Industries              TL                 CRISIL B       20.3    Suspended
J. S. Bedi Agro Industries              Warehouse FinancingCRISIL B       80      Suspended
Johar Petro                             Overdraft Fac      CRISIL B+      85      Suspended
JP Morgan Securities India Pvt Ltd      NCD                CRISIL AA+     20000   Reaffirmed
Jubilee Infratech Pvt Ltd               LT Loan            CRISIL BB-     14      Assigned
Jubilee Infratech Pvt Ltd               Proposed LT Bk     CRISIL BB-     46      Assigned
                                        Loan Fac
KDDL Ltd                                CC#                CRISIL BBB-    140     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
# Interchangeable with packing credit up to Rs.60 Million    
KDDL Ltd                                CC##               CRISIL BBB-    100     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
## Fully interchangeable with packing credit    
KDDL Ltd                                TL@                CRISIL BBB-    167.5   Downgraded
                                                                                  from CRISIL
                                                                                  BBB
@ Includes sub limit of Rs.30 Million for buyer's credit    
KDDL Ltd                                TL                 CRISIL BBB-    57.5    Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Lake View Developers                    Lease Rental       CRISIL A+      6.72    Reaffirmed
                                        Discounting Loan
Lake View Developers                    Proposed LT Bk     CRISIL A+      3.28    Reaffirmed
                                        Loan Fac
Laxmi Polytex Pvt Ltd                   CC                 CRISIL B+      70      Assigned
Mahaluxmi Buildtech Ltd                 Overdraft Fac      CRISIL BB      135     Assigned
Mahindra Gears and Transmissions Pvt LtdCC^                CRISIL A+      120     Reaffirmed
^Interchangeable with letter of credit to the extent of Rs 60 million
Mahindra Gears and Transmissions Pvt LtdCC*                CRISIL A+      200     Reaffirmed
*Interchangeable with letter of credit to the extent of Rs 10 million
Mahindra Gears and Transmissions Pvt LtdProposed LT Bk     CRISIL A+      75      Reaffirmed
                                        Loan Fac
Mahindra Gears and Transmissions Pvt LtdRupee TL           CRISIL A+      445     Reaffirmed
Maliram Jewellers                       CC                 CRISIL BB      115     Suspended
Mani Mahesh Ispat Pvt Ltd               CC                 CRISIL BB-     83      Suspended
Mani Mahesh Ispat Pvt Ltd               TL                 CRISIL BB-     39.5    Suspended
Megaflex Plastics Ltd                   CC                 CRISIL BBB-    80      Suspended
MGG Infra Projects Pvt Ltd              CC                 CRISIL B+      40      Assigned
MITS Mega Food Park Ltd                 Proposed LT Bk     CRISIL B+      200     Suspended
                                        Loan Fac
Nandnandan Silk Mills Pvt Ltd           CC                 CRISIL B+      67.5    Assigned
Nano Minpro Pvt Ltd                     CC                 CRISIL D       90      Reaffirmed
Nano Minpro Pvt Ltd                     LOC                CRISIL D       10      Reaffirmed
Neelkamal Hotel and Resorts Pvt Ltd     LT Loan            CRISIL B+      149.5   Suspended
Nellukkaran's Foods And Feeds Pvt Ltd   CC                 CRISIL B+      27.5    Assigned
Nellukkaran's Foods And Feeds Pvt Ltd   TL                 CRISIL B+      65      Assigned
Nippon Audiotronix Pvt Ltd              Bill Discounting   CRISIL A-      300     Reaffirmed
Nippon Audiotronix Pvt Ltd              CC                 CRISIL A-      200     Reaffirmed
Odisha Generation Phase II Transmission Rupee TL*          CRISIL BBB-    9540    Assigned
Ltd
*Sublimit of letter of credit equivalent to 80% of the rupee term loan amount
Pace Power Systems Pvt Ltd              CC                 CRISIL BBB     550     Reaffirmed
Pace Power Systems Pvt Ltd              LT Loan            CRISIL BBB     60      Reaffirmed
Pallickal Roller Flour Mills Pvt Ltd    Proposed CC Limit  CRISIL BB-     22.5    Assigned
Pallickal Roller Flour Mills Pvt Ltd    CC                 CRISIL BB-     50      Assigned
Parcos Tiles LLP                        TL                 CRISIL B+      180     Assigned
Parcos Tiles LLP                        CC                 CRISIL B+      80      Assigned
Patwari Steels Pvt Ltd                  BG                 CRISIL D       20      Suspended
Patwari Steels Pvt Ltd                  CC                 CRISIL D       90      Suspended
Patwari Steels Pvt Ltd                  Proposed LT Bk     CRISIL D       6       Suspended
                                        Loan Fac
Patwari Steels Pvt Ltd                  Standby Line of    CRISIL D       13.5    Suspended
                                        Credit
Patwari Steels Pvt Ltd                  TL                 CRISIL D       16      Suspended
Pawansut Enterprises                    CC                 CRISIL B       10      Suspended
Pawansut Enterprises                    Proposed LT Bk     CRISIL B       20      Suspended
                                        Loan Fac
R.L.Construction                        CC                 CRISIL B+      50      Suspended
R.L.Construction                        Standby Line of    CRISIL B+      5       Suspended
                                        Credit
Rabir Rice Mills                        CC                 CRISIL B       20      Assigned
Rabir Rice Mills                        Warehouse FinancingCRISIL B       50      Assigned
Railtrack Concrete Products Pvt Ltd     LT Loan            CRISIL B-      15      Assigned
Railtrack Concrete Products Pvt Ltd     CC                 CRISIL B-      35      Assigned
Rajat Infra Developers Pvt Ltd          CC                 CRISIL B       30      Suspended
Rajat Infra Developers Pvt Ltd          Proposed LT Bk     CRISIL B       100     Suspended
                                        Loan Fac
Rajesh Rayon Silk Mills Ltd             CC                 CRISIL BB      58.1    Reaffirmed
Rajesh Rayon Silk Mills Ltd             Proposed LT Bk     CRISIL BB      1.9     Reaffirmed
                                        Loan Fac
Raj-Sneh Auto Wheels Pvt Ltd            CC                 CRISIL B       100     Assigned
Raj-Sneh Auto Wheels Pvt Ltd            Inventory Funding  CRISIL B       100     Assigned
                                        Fac
Rameswar Agro Industries Pvt Ltd        CC                 CRISIL BB-     150     Suspended
Rameswar Agro Industries Pvt Ltd        LT Loan            CRISIL BB-     17.3    Suspended
Rameswar Agro Industries Pvt Ltd        Proposed LT Bk     CRISIL BB-     2.7     Suspended
                                        Loan Fac
Rashmi Realty Builders Pvt Ltd          TL                 CRISIL D       320     Downgraded
                                                                                  from CRISIL B+
Ratanpur Cold Storage Pvt Ltd           CC                 CRISIL B       35      Suspended
Ratanpur Cold Storage Pvt Ltd           Proposed LT Bk     CRISIL B       8       Suspended
                                        Loan Fac
Ratanpur Cold Storage Pvt Ltd           WC TL              CRISIL B       12      Suspended
Rattan Singh Builders Pvt Ltd           CC                 CRISIL BB      80      Reaffirmed
Raudra Technocrats - Gandhinagar        Proposed LT Bk     CRISIL BB-     10      Assigned
                                        Loan Fac
Raudra Technocrats - Gandhinagar        CC                 CRISIL BB-     50      Assigned
RDC Automobile Pvt Ltd                  Drop Line          CRISIL B       36      Assigned
                                        Overdraft Fac
RDC Automobile Pvt Ltd                  Electronic Dealer  CRISIL B       150     Assigned
                                        Financing
                                        Scheme(e-DFS)
Roma Builders Pvt Ltd                   Rupee TL           CRISIL A+      5.5     Reaffirmed
Roma Builders Pvt Ltd                   Proposed LT Bk     CRISIL A+      2       Reaffirmed
                                        Loan Fac
SBI Global Factors Ltd                  NCD                CRISIL AAA     1500    Reaffirmed
(Reduced from Rs.2.5 Billion)
Shree Agencies Pvt Ltd                  Credit Limit Under CRISIL BBB     56      Reaffirmed
                                        Gold Card
Shree Agencies Pvt Ltd                  Proposed LT Bk     CRISIL BBB     0.4     Reaffirmed
                                        Loan Fac
Shree Agencies Pvt Ltd                  TL                 CRISIL BBB     38.6    Reaffirmed
Siyaram Silk Mills Ltd                  CC                 CRISIL A+      1600    Reaffirmed
Siyaram Silk Mills Ltd                  TL                 CRISIL A+      476.9   Reaffirmed
Srinivasa Murugan Industries            CC                 CRISIL B+      120     Assigned
Srinivasa Murugan Industries            LT Loan            CRISIL B+      50      Assigned
Standard Infratech India Pvt Ltd        CC                 CRISIL BBB-    60      Suspended
Standard Infratech India Pvt Ltd        Proposed CC Limit  CRISIL BBB-    30      Suspended
Super Gases and Appliances Pvt Ltd      TL                 CRISIL BB-     26      Assigned
Super Gases and Appliances Pvt Ltd      CC                 CRISIL BB-     25      Assigned
V. R. & Company                         Overdraft Fac      CRISIL BB-     15      Reaffirmed
Valuepoint Systems Pvt Ltd              CC                 CRISIL BB+     80      Reaffirmed
Valuepoint Systems Pvt Ltd              TL                 CRISIL BB+     5       Reaffirmed
Visvesvaraya Technological University   Overdraft Fac      CRISIL BBB+    250     Suspended
Zydus Technologies Ltd                  LT Loan            CRISIL AA+(SO) 2150    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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