April 24, 2017 / 8:49 AM / 6 months ago

CRISIL ratings for Indian debt instruments-Apr 24

    Apr 24 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 21, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aggarwal Associates - Mansa             BG                 CRISIL A4      60      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL A4+
Agribase Commodities                    Foreign Exchange   CRISIL A4      3.3     Issuer Not
                                        Forward                                   Cooperating
Downgraded from CRISIL A4+
Altair Power Pvt Ltd                    BG                 CRISIL A4      10      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Amarson Overseas Pvt Ltd                Foreign Exchange   CRISIL A4      15      Issuer Not
                                        Forward                                   Cooperating
Downgraded from CRISIL A4+
Amarson Overseas Pvt Ltd                Inland/Import LOC  CRISIL A4      5       Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL A4+
Amarson Overseas Pvt Ltd                Packing Credit     CRISIL A4      15      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL A4+
Arion Healthcare                        BG                 CRISIL A4      20      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL A4+
Avinashi Ads                            BG                 CRISIL A4      40      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL A4+
Bliss Anand Pvt Ltd                     BG                 CRISIL A4      80      Upgraded from
                                                                                  CRISIL D
C.M.S. Balan & Co.                      Packing Credit     CRISIL A4      20      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Core Jewellery Pvt Ltd                  Non-FBL            CRISIL A4+     14      Reaffirmed
Core Jewellery Pvt Ltd                  Post Shipment      CRISIL A4+     250     Reaffirmed
                                        Credit
Double-Dee Technology Pvt Ltd           Packing Credit     CRISIL A4      10      Assigned
Feris Spintex Pvt Ltd                   BG                 CRISIL A4      20      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Harvins Constructions Pvt Ltd           BG                 CRISIL A4      400     Reaffirmed
Hindusthan Technologies Pvt Ltd         BG                 CRISIL A4      70      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Hindusthan Technologies Pvt Ltd         Proposed ST Bk     CRISIL A4      40      Issuer Not
                                        Loan Fac                                  Cooperating
Rating Reaffirmed
Kanpur Edibles Pvt Ltd                  LOC                CRISIL A3+     4000    Reaffirmed
Lee and Muirhead Pvt Ltd                BG                 CRISIL A4+     250     Downgraded
                                                                                  from CRISIL A3
Lee and Muirhead Pvt Ltd                Bill Discounting   CRISIL A4+     50      Downgraded
                                                                                  from CRISIL A3
Mahaveer Infraengineering Pvt Ltd       BG                 CRISIL A4      50      Reaffirmed
Mangalath Cashews                       Bill Discounting   CRISIL A4      15      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Mangalath Cashews                       Packing Credit     CRISIL A4      93      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Medall Healthcare Pvt Ltd               BG                 CRISIL A2+     47      Upgraded from
                                                                                  CRISIL A2
Medall Healthcare Pvt Ltd               Proposed ST Bk     CRISIL A2+     125     Upgraded from
                                        Loan Fac                                  CRISIL A2
Medall Healthcare Pvt Ltd               ST Bk Fac          CRISIL A2+     75      Upgraded from
                                                                                  CRISIL A2
Mishra Dhatu Nigam Ltd                  BG                 CRISIL A1+     1000    Reaffirmed
Mishra Dhatu Nigam Ltd                  LOC                CRISIL A1+     1200    Reaffirmed
Monarch Ceramic                         BG                 CRISIL A4+     30      Upgraded from
                                                                                  CRISIL A4
Nizmar Hotels Pvt Ltd                   BG                 CRISIL A4      2.5     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
ONGC Tripura Power Co. Ltd              LOC & BG           CRISIL A1+     1000    Upgraded from
                                                                                  CRISIL A1
Plasto Manufacturing Co.                LOC                CRISIL A4      20      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Poly Medicure Ltd                       LOC & BG           CRISIL A1      400     Reaffirmed
Rajkumar Forge Ltd                      Post Shipment      CRISIL A4      50      Issuer Not
                                        Credit                                    Cooperating
Downgraded from CRISIL A4+ and removed from Rating Watch with Developing Implications
Rapha Diagnostics Pvt Ltd               LOC                CRISIL A4      12.5    Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
S Kumar Engineering Industries          BG                 CRISIL A4      14      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed

S.A. Sawant Constructions Pvt Ltd       Proposed BG        CRISIL A4+     200     Assigned
Sai Power Constructions                 BG                 CRISIL A4      30      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Samay Alloys India Pvt Ltd              LOC                CRISIL A4      50      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Sarita Forgings Pvt Ltd                 Letter Of GuaranteeCRISIL A4      12.5    Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Sarita Forgings Pvt Ltd                 LOC                CRISIL A4      7.5     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Sonu Builders                           BG                 CRISIL A4      62.5    Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Sri Srinivasa Dairy Products Pvt Ltd    Overdraft          CRISIL A3      40      Reassigned
Sumatichand Gouti Jewellers Pvt Ltd     ST Bk Fac          CRISIL A4+     1150    Reaffirmed
Swaroop Techno Components Pvt Ltd       Bill Discounting   CRISIL A4+     30      Reaffirmed
Swaroop Techno Components Pvt Ltd       LOC                CRISIL A4+     60      Reaffirmed
Tamil Naadu Edible Oils Pvt Ltd         LOC                CRISIL A4      200     Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL A4+
Tushar Fabrics                          LOC                CRISIL A4      10      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Venkatrama International LLP            Proposed Bill      CRISIL A4+     300     Assigned
                                        Discounting Fac
Vikram India Ltd                        BG                 CRISIL A4      80      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL A4+
Vikram India Ltd                        Packing Credit     CRISIL A4      100     Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL A4+
Vineet Polyfab Pvt Ltd                  BG                 CRISIL A4      10      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL A4+
Vishal Surgical Equipment Co- New Delhi BG                 CRISIL A4+     80      Assigned

LONG TERM RATINGS:
-------------------
ABC Cotspin Pvt Ltd                     Bill Discounting   CRISIL D       250     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
ABC Cotspin Pvt Ltd                     Packing Credit     CRISIL D       590     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
ABC Cotspin Pvt Ltd                     Proposed Packing   CRISIL D       1860    Issuer Not
                                        Credit                                    Cooperating
Rating Reaffirmed
Abhivyakti Welfare Society              Proposed FB Bk     CRISIL B       10      Issuer Not
                                        Limits                                    Cooperating
Rating Reaffirmed
Accurate Infra Industries Pvt Ltd       CC                 CRISIL B       30      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Accurate Infra Industries Pvt Ltd       TL                 CRISIL B       80      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Aggarwal Associates - Mansa             CC                 CRISIL B       40      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB
Agribase Commodities                    CC                 CRISIL B       48.5    Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB-
Agribase Commodities                    TL                 CRISIL B       1.6     Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB-
Agribase Commodities                    Warehouse Receipts CRISIL B       11.5    Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB-
Altair Power Pvt Ltd                    CC                 CRISIL B-      40      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Altair Power Pvt Ltd                    Proposed LT Bk     CRISIL B-      50      Issuer Not
                                        Loan Fac                                  Cooperating
Rating Reaffirmed
Amar Jyoti Industries Pvt Ltd           CC                 CRISIL B-      40      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Amar Jyoti Industries Pvt Ltd           TL                 CRISIL B-      104     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Amarson Overseas Pvt Ltd                Foreign Currency TLCRISIL B       17.1    Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB+
Amarson Overseas Pvt Ltd                Overdraft          CRISIL B       20      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB+
Amarson Overseas Pvt Ltd                Proposed LT Bk     CRISIL B       27.9    Issuer Not
                                        Loan Fac                                  Cooperating
Downgraded from CRISIL BB+
Ankita Agro and Food Processing Pvt Ltd CC                 CRISIL B-      34.9    Reaffirmed
Ankita Agro and Food Processing Pvt Ltd TL                 CRISIL B-      65.1    Reaffirmed
Anubhav Trading                         Proposed CC Limit  CRISIL B       80      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
Anubhav Trading                         Proposed LT Bk     CRISIL B       10      Issuer Not
                                        Loan Fac                                  Cooperating
Downgraded from CRISIL B+
Arion Healthcare                        CC                 CRISIL B       280     Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB+
Arion Healthcare                        Proposed LT Bk     CRISIL B       12.3    Issuer Not
                                        Loan Fac                                  Cooperating
Downgraded from CRISIL BB+
Arion Healthcare                        TL                 CRISIL B       37.7    Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB+
Asan Steels Pvt Ltd                     CC                 CRISIL B-      60      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Asan Steels Pvt Ltd                     TL                 CRISIL B-      25      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Asian Earthmovers                       CC                 CRISIL D       60      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Avinashi Ads                            CC                 CRISIL B       50      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB
Bliss Anand Pvt Ltd                     Bill Discounting   CRISIL B       85      Upgraded from
                                                                                  CRISIL D
Bliss Anand Pvt Ltd                     CC                 CRISIL B       65      Upgraded from
                                                                                  CRISIL D
Bliss Anand Pvt Ltd                     Rupee TL           CRISIL B       20      Upgraded from
                                                                                  CRISIL D
BNP Paribas India Solutions Pvt Ltd     WC Demand Loan*    CRISIL AAA     300     Assigned
*Interchangeable with letter of credit to the extent of Rs 3 Cr and bank guarantee to the extent
of Rs 8 Cr.
C.M.S. Balan & Co.                      CC                 CRISIL B       10      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
C.M.S. Balan & Co.                      Foreign Bill       CRISIL B       50      Issuer Not
                                        Purchase                                  Cooperating
Rating Reaffirmed
C.M.S. Balan & Co.                      Proposed LT Bk     CRISIL B       5       Issuer Not
                                        Loan Fac                                  Cooperating
Rating Reaffirmed
C.Natarajan                             TL                 CRISIL B       85      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
Chandana Brothers Shopping Mall Pvt Ltd CC                 CRISIL BBB     790     Reaffirmed
Chandana Brothers Shopping Mall Pvt Ltd Corporate Loan     CRISIL BBB     145     Reaffirmed
Chandana Brothers Shopping Mall Pvt Ltd Proposed LT Bk     CRISIL BBB     210     Reaffirmed
                                        Loan Fac
Chandana Brothers Shopping Mall Pvt Ltd TL                 CRISIL BBB     235     Reaffirmed
Core Jewellery Pvt Ltd                  Export Packing     CRISIL BB      200     Reaffirmed
                                        Credit
Core Jewellery Pvt Ltd                  LT Loan            CRISIL BB      110     Reaffirmed
Denzong Albrew Pvt Ltd                  CC                 CRISIL B-      10      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Denzong Albrew Pvt Ltd                  TL                 CRISIL B-      170     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Double-Dee Technology Pvt Ltd           TL                 CRISIL B+      12      Assigned
Double-Dee Technology Pvt Ltd           Proposed LT Bk     CRISIL B+      46      Assigned
                                        Loan Fac
Double-Dee Technology Pvt Ltd           Bill Discounting   CRISIL B+      5       Assigned
Double-Dee Technology Pvt Ltd           CC                 CRISIL B+      27      Assigned
Eden Critical Care Hospital Pvt Ltd     TL                 CRISIL D       195     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Encorp Powertrans Pvt Ltd               CC                 CRISIL B       50      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Encorp Powertrans Pvt Ltd               TL                 CRISIL B       40      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Feris Spintex Pvt Ltd                   CC                 CRISIL B       70      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Feris Spintex Pvt Ltd                   LT Loan            CRISIL B       330     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Guru Nanak International Pvt Ltd        CC                 CRISIL B+      115     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Guru Nanak International Pvt Ltd        LT Loan            CRISIL B+      10      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Harvins Constructions Pvt Ltd           Overdraft          CRISIL B+      75      Upgraded from
                                                                                  CRISIL B
Hindusthan Technologies Pvt Ltd         CC                 CRISIL B       25      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
HK Infraventures Pvt Ltd                TL                 CRISIL B       60      Assigned
Hotel Magic Mountain                    Proposed TL        CRISIL B       35      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
ICICI Bank Ltd                          Upper Tier-II      CRISIL AAA     84950   Reaffirmed
                                        Bonds (Under Basel
                                        II)
ICICI Bank Ltd                          Tier-I Perpetual   CRISIL AAA     5180    Reaffirmed
                                        Bonds (Under Basel
                                        II)
ICICI Bank Ltd                          Upper Tier-II      CRISIL AAA     55050   Withdrawal
                                        Bonds (Under Basel
                                        II)
ICICI Bank Ltd                          Upper Tier-II      CRISIL AAA     611     Withdrawal
                                        Bonds (Under Basel
                                        II)#
#Pertains to Upper Tier-II bonds issued by the erstwhile Bank of Rajasthan (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 AAA     31820   Withdrawal
                                        Bonds (Under Basel
                                        II)
ICICI Bank Ltd*                         Bonds/Debentures   CRISIL AAA     6290    Reaffirmed
*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 with ICICI Bank
Intimate Jewels (P) Ltd.                CC                 CRISIL B       25      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB-
Intimate Jewels (P) Ltd.                Proposed LT Bk     CRISIL B       75      Issuer Not
                                        Loan Fac                                  Cooperating
Downgraded from CRISIL BB-
Jindal Steel and Power Ltd              CP                 -              41500   Withdrawal
Jindal Steel and Power Ltd              CC                 CRISIL D       36000   Reaffirmed
Jindal Steel and Power Ltd              LOC                CRISIL D       38000   Reaffirmed
Jindal Steel and Power Ltd              Proposed CC Limit  CRISIL D       5500    Withdrawal
Jindal Steel and Power Ltd              Proposed LOC       CRISIL D       44810   Withdrawal
Jindal Steel and Power Ltd              Proposed LT Bk     CRISIL D       43400   Reaffirmed
                                        Loan Fac
Jindal Steel and Power Ltd              Proposed ST Bk     CRISIL D       25000   Reaffirmed
                                        Loan Fac
Jindal Steel and Power Ltd              TL                 CRISIL D       133670  Reaffirmed
Jindal Steel and Power Ltd              NCDs               CRISIL D       32120   Reaffirmed
JMK Motors Pvt Ltd                      Channel Financing  CRISIL B+      70      Reaffirmed
JMK Motors Pvt Ltd                      Drop Line          CRISIL B+      14      Reaffirmed
                                        Overdraft Fac
JMK Motors Pvt Ltd                      Loan Against       CRISIL B+      42      Reaffirmed
                                        Property
JMK Motors Pvt Ltd                      Proposed LT Bk     CRISIL B+      15.5    Reaffirmed
                                        Loan Fac
Jumbo Fireworks India Pvt Ltd           CC                 CRISIL D       110     Assigned
Suspension Revoked
Jumbo Fireworks India Pvt Ltd           TL                 CRISIL D       10      Assigned
Suspension Revoked
Just Textiles Ltd                       CC                 CRISIL D       92      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Just Textiles Ltd                       LOC                CRISIL D       4       Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Just Textiles Ltd                       LT Loan            CRISIL D       4       Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Kamran Exports Pvt Ltd                  CC                 CRISIL B       50      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB-
Kamran Exports Pvt Ltd                  Export Packing     CRISIL B       250     Issuer Not
                                        Credit                                    Cooperating
Downgraded from CRISIL BB-
Kamya Clothing Pvt Ltd                  CC                 CRISIL B       60      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Kamya Clothing Pvt Ltd                  TL                 CRISIL B       2.5     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Kanpur Edibles Pvt Ltd                  CC                 CRISIL BBB     400     Reaffirmed
L&T-MHPS Turbine Generators Pvt Ltd     Bill Discounting   CRISIL A       500     Reaffirmed
L&T-MHPS Turbine Generators Pvt Ltd     CC^                CRISIL A       2500    Reaffirmed
^ Interchangeable with working capital demand loan, overdraft, and bill discounting to the
extent of Rs 250 crore, and with packing credit in foreign currency (PCFC) to the extent of Rs
200 crore
L&T-MHPS Turbine Generators Pvt Ltd     LOC & BG#          CRISIL A       11000   Reaffirmed
# Interchangeable with working capital demand loan, buyer's credit, and PCFC to the extent of Rs
150 crore
L&T-MHPS Turbine Generators Pvt Ltd     Proposed LT Bk     CRISIL A       1000    Reaffirmed
                                        Loan Fac
Laxmi Vishnu Cotton Industries          CC                 CRISIL B       30      Assigned
Laxmi Vishnu Cotton Industries          LT Loan            CRISIL B       22.5    Assigned
Lee and Muirhead Pvt Ltd                CC                 CRISIL BB      30      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Lee and Muirhead Pvt Ltd                TL                 CRISIL BB      80      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Libra Hyundai                           CC                 CRISIL BB+     20      Assigned
Suspension Revoked
Libra Hyundai                           Channel Financing  CRISIL BB+     85      Assigned
Suspension Revoked
Libra Hyundai                           LT Loan            CRISIL BB+     15      Assigned
Suspension Revoked
Lissie Medical Institutions             LT Loan            CRISIL A-      390     Assigned
Lissie Medical Institutions             Overdraft          CRISIL A-      110     Assigned
Mahaveer Infraengineering Pvt Ltd       CC                 CRISIL B       100     Reaffirmed
Mahaveer Infraengineering Pvt Ltd       Proposed LT Bk     CRISIL B       50      Reaffirmed
                                        Loan Fac
Mangalath Cashews                       CC                 CRISIL B       15      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
MBR Group                               LT Loan            CRISIL B       500     Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB-
Medall Healthcare Pvt Ltd               CC                 CRISIL A-      300     Upgraded from
                                                                                  CRISIL BBB+
Medall Healthcare Pvt Ltd               Corporate Loan     CRISIL A-      680     Upgraded from
                                                                                  CRISIL BBB+
Medall Healthcare Pvt Ltd               LT Loan            CRISIL A-      384.1   Upgraded from
                                                                                  CRISIL BBB+
Medall Healthcare Pvt Ltd               Proposed LT Bk     CRISIL A-      268.9   Upgraded from
                                        Loan Fac                                  CRISIL BBB+
Mishra Dhatu Nigam Ltd                  CC                 CRISIL AA-     250     Reaffirmed
Mishra Dhatu Nigam Ltd                  LT Loan            CRISIL AA-     71.6    Reaffirmed
Mittapalli Audinarayana Enterprises Pvt Open CC            CRISIL B       560     Reaffirmed
Ltd
Monarch Ceramic                         CC                 CRISIL BB-     40      Upgraded from
                                                                                  CRISIL B
Monarch Ceramic                         Proposed LT Bk     CRISIL BB-     35.7    Upgraded from
                                        Loan Fac                                  CRISIL B
Monarch Ceramic                         TL                 CRISIL BB-     81.8    Upgraded from
                                                                                  CRISIL B
MSPL Ltd                                CC                 CRISIL B       2750    Issuer Not
                                                                                  Cooperating
Downgraded from BB+
MSPL Ltd                                Rupee TL           CRISIL B       4650    Issuer Not
                                                                                  Cooperating
Downgraded from BB+
Nizmar Hotels Pvt Ltd                   Proposed LT Bk     CRISIL C       3.5     Issuer Not
                                        Loan Fac                                  Cooperating
Downgraded from CRISIL B-
Nizmar Hotels Pvt Ltd                   TL                 CRISIL C       150     Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B-
ONGC Tripura Power Co. Ltd              CC                 CRISIL AA-     3000    Upgraded from
                                                                                  CRISIL A+
ONGC Tripura Power Co. Ltd              Proposed LT Bk     CRISIL AA-     4000    Upgraded from
                                        Loan Fac                                  CRISIL A+
ONGC Tripura Power Co. Ltd              Rupee TL           CRISIL AA-     26210   Upgraded from
                                                                                  CRISIL A+
P.S.K. Textiles India Pvt Ltd           CC                 CRISIL BB-     20      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
P.S.K. Textiles India Pvt Ltd           Proposed LT Bk     CRISIL BB-     12.1    Issuer Not
                                        Loan Fac                                  Cooperating
Rating Reaffirmed
P.S.K. Textiles India Pvt Ltd           TL                 CRISIL BB-     80.6    Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Pioneer Motors (Kannur) Pvt Ltd         CC                 CRISIL C       70      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB-
Pioneer Motors (Kannur) Pvt Ltd         Inventory Funding  CRISIL C       30      Issuer Not
                                        Fac                                       Cooperating
Downgraded from CRISIL BB-
Pioneer Motors (Kannur) Pvt Ltd         LT Loan            CRISIL C       4       Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB-
Plasto Manufacturing Co.                CC                 CRISIL B       20      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
Plasto Manufacturing Co.                Proposed LT Bk     CRISIL B       5       Issuer Not
                                        Loan Fac                                  Cooperating
Downgraded from CRISIL B+
Plasto Manufacturing Co.                TL                 CRISIL B       10      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
Poly Medicure Ltd                       CC                 CRISIL A+      600     Reaffirmed
Poly Medicure Ltd                       LT Loan            CRISIL A+      1100    Reaffirmed
Poly Medicure Ltd                       TL                 CRISIL A+      100     Reaffirmed
Precision Engineering Corporation       BG                 CRISIL D       70      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Precision Engineering Corporation       CC                 CRISIL D       90      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Precision Engineering Corporation       LOC                CRISIL D       20      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Precision Engineering Corporation       TL                 CRISIL D       20      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Raghav Industries Ltd                   CC                 CRISIL BB-     289.3   Upgraded from
                                                                                  CRISIL B+
Raghav Industries Ltd                   LT Loan            CRISIL BB-     25.7    Upgraded from
                                                                                  CRISIL B+
Raghav Industries Ltd                   Proposed LT Bk     CRISIL BB-     168.7   Upgraded from
                                        Loan Fac                                  CRISIL B+
Raj Breeders and Hatcheries Pvt Ltd     CC                 CRISIL D       183     Reaffirmed
Raj Breeders and Hatcheries Pvt Ltd     LT Loan            CRISIL D       92      Reaffirmed
Raj Breeders and Hatcheries Pvt Ltd     Proposed LT Bk     CRISIL D       9       Reaffirmed
                                        Loan Fac
Raj Chick Farms Pvt Ltd                 CC                 CRISIL D       90      Reaffirmed
Raj Chick Farms Pvt Ltd                 LT Loan            CRISIL D       133.8   Reaffirmed
Raj Chick Farms Pvt Ltd                 Proposed LT Bk     CRISIL D       16.2    Reaffirmed
                                        Loan Fac
Raj Gems                                Export Packing     CRISIL B+      140.5   Downgraded
                                        Credit                                    from CRISIL
                                                                                  BB-
Raj Gems                                Post Shipment      CRISIL B+      259.5   Downgraded
                                        Credit                                    from CRISIL
                                                                                  BB-
Rajkumar Forge Ltd                      CC                 CRISIL B+      50      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB- and removed from Rating Watch with Developing Implications
Rapha Diagnostics Pvt Ltd               CC                 CRISIL B       22.5    Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Rapha Diagnostics Pvt Ltd               LT Loan            CRISIL B       35.6    Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Rapha Diagnostics Pvt Ltd               Proposed LT Bk     CRISIL B       29.4    Issuer Not
                                        Loan Fac                                  Cooperating
Rating Reaffirmed
Ryatar Sahakari Sakkare Karkhane NiyamitCC-Stock           CRISIL B-      200     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Ryatar Sahakari Sakkare Karkhane NiyamitLT Bk Fac          CRISIL B-      260     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
S Kumar Engineering Industries          Bill Discounting   CRISIL B       60      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
S Kumar Engineering Industries          CC                 CRISIL B       66      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
S Kumar Engineering Industries          LT Loan            CRISIL B       60      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
S Kumar Engineering Industries          Proposed WC Fac    CRISIL B       66      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
S.A. Sawant Constructions Pvt Ltd       CC                 CRISIL BB+     50      Assigned
Sadaram Ginning And Pressing Industries CC                 CRISIL B       60      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Sadaram Ginning And Pressing Industries LT Loan            CRISIL B       30      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Sai Power Constructions                 CC                 CRISIL B       30      Issuer Not
                                                                                  Cooperating
Downgraded fromCRISIL B+
Sai Power Constructions                 Proposed CC Limit  CRISIL B       2.5     Issuer Not
                                                                                  Cooperating
Downgraded fromCRISIL B+
Samay Alloys India Pvt Ltd              CC                 CRISIL B-      50      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Samay Alloys India Pvt Ltd              TL                 CRISIL B-      17.3    Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Sarita Forgings Pvt Ltd                 CC                 CRISIL B       75      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
Sarita Forgings Pvt Ltd                 TL                 CRISIL B       28      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
Shree Siddhivinayaka Agro Extractions   CC                 CRISIL C       75      Issuer Not
Pvt Ltd                                                                           Cooperating
Rating Reaffirmed
Shree Siddhivinayaka Agro Extractions   Proposed LT Bk     CRISIL C       50      Issuer Not
Pvt Ltd                                 Loan Fac                                  Cooperating
Rating Reaffirmed
Shriram Industries and Exports Pvt Ltd  Proposed LT Bk     CRISIL B       10      Issuer Not
                                        Loan Fac                                  Cooperating
Rating Reaffirmed
Shriram Industries and Exports Pvt Ltd  TL                 CRISIL B       90      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Shyam Corporation Pvt Ltd               CC                 CRISIL B       65      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB-
Shyam Corporation Pvt Ltd               Proposed LT Bk     CRISIL B       24      Issuer Not
                                        Loan Fac                                  Cooperating
Downgraded from CRISIL BB-
Shyam Corporation Pvt Ltd               TL                 CRISIL B       161     Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB-
Sonu Builders                           CC                 CRISIL B       30      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
Sonu Builders                           Proposed LT Bk     CRISIL B       10      Issuer Not
                                        Loan Fac                                  Cooperating
Downgraded from CRISIL B+
Sree Guru Raghavendra Farm              TL                 CRISIL B       50      Reaffirmed
Sri Srinivasa Dairy Products Pvt Ltd    CC                 CRISIL BBB-    70      Upgraded from
                                                                                  CRISIL BB+
Sri Srinivasa Dairy Products Pvt Ltd    LT Loan            CRISIL BBB-    20      Upgraded from
                                                                                  CRISIL BB+
Sri Srinivasa Dairy Products Pvt Ltd    Proposed LT Bk     CRISIL BBB-    10      Upgraded from
                                        Loan Fac                                  CRISIL BB+
Sulakshana Agencies                     CC                 CRISIL B       60      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
Sumatichand Gouti Jewellers Pvt Ltd     Gold Loan          CRISIL BB-     2650    Reaffirmed
Sumatichand Gouti Jewellers Pvt Ltd     Proposed LT Bk     CRISIL BB-     50      Reaffirmed
                                        Loan Fac
Sunhill Homes Pvt Ltd                   TL                 CRISIL B       1750    Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Surajmull Gouti                         CC*                CRISIL BB-     750     Reaffirmed
* Fully interchangeable with gold metal loan
Surajmull Gouti                         Proposed LT Bk     CRISIL BB-     27.5    Reaffirmed
                                        Loan Fac
Suvarna Shilpi Jewellers Pvt Ltd        CC                 CRISIL B       95      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
Suvarna Shilpi Jewellers Pvt Ltd        Proposed LT Bk     CRISIL B       25      Issuer Not
                                        Loan Fac                                  Cooperating
Downgraded from CRISIL B+
Swaroop Techno Components Pvt Ltd       CC                 CRISIL BB+     50      Upgraded from
                                                                                  CRISIL BB
Swaroop Techno Components Pvt Ltd       LT Loan            CRISIL BB+     37.5    Upgraded from
                                                                                  CRISIL BB
Tamil Naadu Edible Oils Pvt Ltd         CC                 CRISIL B       50      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB+
Trans Volt Engineering                  CC                 CRISIL B       5       Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Trans Volt Engineering                  LT Loan            CRISIL B       4.1     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Trans Volt Engineering                  Proposed LT Bk     CRISIL B       40.9    Issuer Not
                                        Loan Fac                                  Cooperating
Rating Reaffirmed
Tribhawan and Co.                       Warehouse Receipts CRISIL B       100     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Tushar Fabrics                          CC                 CRISIL B       45      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
Tushar Fabrics                          TL                 CRISIL B       6.2     Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL B+
Venkata Rajesh Poultries Pvt Ltd        CC                 CRISIL B       120     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Venkata Rajesh Poultries Pvt Ltd        LT Loan            CRISIL B       110     Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Venkateshwar Hospital Dwarka (A Unit of TL                 CRISIL B-      1450    Issuer Not
All India Society For Health Aid                                                  Cooperating
Education and Research - A.S.H.A)
Rating Reaffirmed
Venkatrama International LLP            Export Packing     CRISIL BB-     200     Assigned
                                        Credit
Vijayasree Cotton Syndicate             CC                 CRISIL B       50      Issuer Not
                                                                                  Cooperating
Rating Reaffirmed
Vikram India Ltd                        CC                 CRISIL B       105     Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB
Vikram India Ltd                        Proposed LT Bk     CRISIL B       14      Issuer Not
                                        Loan Fac                                  Cooperating
Downgraded from CRISIL BB
Vikram India Ltd                        TL                 CRISIL B       84      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB
Vineet Polyfab Pvt Ltd                  CC                 CRISIL B       128     Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB-
Vineet Polyfab Pvt Ltd                  TL                 CRISIL B       55.4    Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB-
Vishal Surgical Equipment Co- New Delhi CC                 CRISIL BB      25.5    Assigned
Wonderchef Home Appliances Pvt Ltd      CC                 CRISIL B       100     Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB+
World Welfare Society                   Proposed FB Bk     CRISIL B       10      Issuer Not
                                        Limits                                    Cooperating
Rating Reaffirmed
Yadav Rice Mills                        CC                 CRISIL B       60      Issuer Not
                                                                                  Cooperating
Downgraded from CRISIL BB-

--------------------------------------------------------------------------------------------
$: 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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