April 26, 2017 / 7:17 AM / 6 months ago

CRISIL ratings for Indian debt instruments-Apr 26

    Apr 26 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 25, 2017.


COMPANY                               INSTRUMENT           RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                ----------           ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Acute Designs                           BG                 CRISIL A4      80      Assigned
Astra Microwave Products Ltd            BG#                CRISIL A1      3850    Reaffirmed
#Includes a sub-limit of Rs 10.0 crore for letter of credit
Astra Microwave Products Ltd             CP                CRISIL A1      200     Reaffirmed
Calpro Foods Pvt Ltd                    BG                 CRISIL A4+     5       Reaffirmed
Calpro Foods Pvt Ltd                    Foreign LOC        CRISIL A4+     75      Reaffirmed
Carborundum Universal Ltd               BG                 CRISIL A1+     100     Reaffirmed
Carborundum Universal Ltd               ST Debt            CRISIL A1+     600     Reaffirmed
Chemmarathil Cashew Company             Packing Credit     CRISIL A4+     230     Reaffirmed
Climax Overseas Pvt Ltd                 BG                 CRISIL A4+     7.5     Reaffirmed
Climax Overseas Pvt Ltd                 LOC                CRISIL A4+     60      Reaffirmed
Climax Overseas Pvt Ltd                 Post Shipment      CRISIL A4+     110     Reaffirmed
                                        Credit
Climax Overseas Pvt Ltd                 Pre Shipment CreditCRISIL A4+     45      Reaffirmed
Dalip Singh Rathore                     BG                 CRISIL A4      67      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Delta Finochem Pvt Ltd                  BG                 CRISIL A3      5       Upgraded from
                                                                                  CRISIL A4+
Delta Finochem Pvt Ltd                  LOC                CRISIL A3      200     Upgraded from
                                                                                  CRISIL A4+
Delta Finochem Pvt Ltd                  Standby Line of    CRISIL A3      22.5    Upgraded from
                                        Credit                                    CRISIL A4+
DGP Steel Star Engineering Pvt Ltd      BG                 CRISIL A4      22.5    Reaffirmed
Gruh Finance Ltd                        ST Debt Programme  CRISIL A1+     55000   Reaffirmed
GSEC Ltd                                BG                 CRISIL A3      300     Reaffirmed
Hi-Tech Air Power Pvt Ltd               BG                 CRISIL A4+     10      Reaffirmed
Hi-Tech Air Power Pvt Ltd               LOC                CRISIL A4+     30      Reaffirmed
Interlace India Pvt Ltd                 BG                 CRISIL A4+     100     Reaffirmed
Janki Newsprint Ltd                     BG                 CRISIL A4      2.5     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Janki Newsprint Ltd                     Foreign LOC        CRISIL A4      50      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
KLJ Organic Ltd                         BG                 CRISIL A1+     10      Upgraded from
                                                                                  CRISIL A1
KLJ Organic Ltd                         LOC                CRISIL A1+     1257.5  Upgraded from
                                                                                  CRISIL A1
KLJ Plasticizers Ltd                    BG                 CRISIL A1+     20      Upgraded from
                                                                                  CRISIL A1
KLJ Plasticizers Ltd                    LOC                CRISIL A1+     3645    Upgraded from
                                                                                  CRISIL A1
KLJ Plasticizers Ltd                    Proposed LOC       CRISIL A1+     135     Upgraded from
                                                                                  CRISIL A1
KLJ Plasticizers Ltd                    ommercial Paper    CRISIL A1+     250     Upgraded from
                                        Programme                                 CRISIL A1
KLJ Polymers and Chemicals Ltd          BG                 CRISIL A1+     10      Upgraded from
                                                                                  CRISIL A1
KLJ Polymers and Chemicals Ltd          LOC                CRISIL A1+     1585    Upgraded from
                                                                                  CRISIL A1
KLJ Polymers and Chemicals Ltd          CP Programme       CRISIL A1+     250     Upgraded from
                                                                                  CRISIL A1)
KLJ Resources Ltd                       LOC                CRISIL A1+     5200    Upgraded from
                                                                                  CRISIL A1
Metal Forms Pvt Ltd                     BG                 CRISIL A4+     80      Reaffirmed
Metal Forms Pvt Ltd                     Overdraft          CRISIL A4+     7.5     Reaffirmed
Mohan Steels Ltd                        BG                 CRISIL A4+     100     Reaffirmed
Naresh Exports                          Post Shipment      CRISIL A3      120     Reaffirmed
                                        Credit*
*Includes sub limit of Rs 8.4 Crores for Direct Bills and Rs 3 Crores for Packing Credit
Naresh Exports                          Proposed ST Bk     CRISIL A3      60      Reaffirmed
                                        Loan Fac
Om Power Transmission Pvt Ltd           BG                 CRISIL A4      65.5    Reaffirmed
P Ramesh                                BG                 CRISIL A4+     50      Upgraded from
                                                                                  CRISIL A4
Prakash Chemicals International Pvt Ltd Packing Credit     CRISIL A3+     600     Upgraded from
                                                                                  CRISIL A3
Radhika Exports                         Bill Purchase      CRISIL A4+     55      Reaffirmed
                                        Discounting Fac
Radhika Exports                         Packing Credit in  CRISIL A4+     155     Reaffirmed
                                        Foreign Currency
Sainik Mining and Allied Services Ltd   BG*                CRISIL A3+     3020    Reaffirmed
* Including sub-limit of Rs.10 crore for letter of credit
Sainik Mining and Allied Services Ltd   Bill Discounting   CRISIL A3+     100     Reaffirmed
Sainik Mining and Allied Services Ltd   Proposed BG        CRISIL A3+     640     Reaffirmed
Sakhi Food Products                     LOC                CRISIL A4      6.8     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Sapna Gems                              Packing Credit     CRISIL D       30      Downgraded
                                                                                  from CRISIL A4
Sapna Gems                              Post Shipment      CRISIL D       120     Downgraded
                                        Credit                                    from CRISIL A4
Sapna Gems                              Proposed ST Bk     CRISIL D       50      Downgraded
                                        Loan Fac                                  from CRISIL A4
Sejal Exports India                     Post Shipment      CRISIL A3      281     Assigned
                                        Credit
SLS Exports Pvt Ltd                     Bill Discounting   CRISIL A4      150     Reaffirmed
Sri Lakshmi Mini Rice Mill              Letter Of GuaranteeCRISIL A4      7.1     Reaffirmed

Sri Manjubashini Chemicals Pvt Ltd      BG                 CRISIL A4      10      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Sri Ram Fibres                          Packing Credit     CRISIL         90      Downgraded
                                                           A4(Issuer Not          from CRISIL
                                                           Cooperating)           A4+
Sri Varalakshmi Hitech Rice Industries  BG                 CRISIL A4      1.2     Assigned
Srushti Baths & Interiors Pvt Ltd       LOC                CRISIL A4      10      Reaffirmed
Technova Imaging Systems Pvt Ltd        BG                 CRISIL A2      200     Reaffirmed
Technova Imaging Systems Pvt Ltd        LOC*               CRISIL A2      2300    Reaffirmed
*Fully interchangeable with buyer's credit
Timblo Drydocks Pvt Ltd                 Foreign LOC        CRISIL A4+     150     Assigned
Timblo Drydocks Pvt Ltd                 BG                 CRISIL A4+     750     Assigned
TNS Heavy Engineering Pvt Ltd           BG                 CRISIL A4+     45      Reaffirmed
Ultra Tech Transmissions                BG                 CRISIL A4+     60      Reaffirmed
Vallabh Textiles Co. Ltd                LOC                CRISIL A4+     52.5    Reaffirmed
Wintouch Ceramic                        BG                 CRISIL A4      16      Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Gruh Finance Ltd                        FD Programme       FAAA           -       Reaffirmed

LONG TERM RATINGS:
-------------------
A. M. R. Rathinasabapathy and Bros      CC                 CRISIL BBB     120     Reaffirmed
Acute Designs                           CC                 CRISIL B+      20      Assigned
Aiswarya Granites                       LT Loan            CRISIL B       20      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Aiswarya Granites                       Overdraft          CRISIL B       30      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Aiswarya Granites                       Proposed WC Fac    CRISIL B       10      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Astra Microwave Products Ltd            CC*                CRISIL A+      1250    Reaffirmed
*Includes a sub-limit of Rs 4.25 crore for letter of credit
Astra Microwave Products Ltd            Proposed LT Bk     CRISIL A+      376.1   Reaffirmed
                                        Loan Fac
Astra Microwave Products Ltd            TL                 CRISIL A+      401     Reaffirmed
Astra Microwave Products Ltd            NCD                CRISIL A+      500     Reaffirmed
Balanagu Industries                     LT Loan            CRISIL B       42.6    Downgraded
                                                                                  from CRISIL B+
Balanagu Industries                     Open CC            CRISIL B       10      Downgraded
                                                                                  from CRISIL B+
Calpro Foods Pvt Ltd                    CC                 CRISIL BB-     40      Reaffirmed
Calpro Foods Pvt Ltd                    Foreign LOC*       CRISIL BB-     20      Reaffirmed
* Interchangeable with cash credit
Carborundum Universal Ltd               CC*                CRISIL AA+     4000    Reaffirmed
*Interchangeable with short term loan, working capital demand loan, packing credit in foreign
currency, buyer's credit, bill discounting, bill guarantees and letter of credit.
Carborundum Universal Ltd               Proposed TL        CRISIL AA+     1400    Reaffirmed
Carborundum Universal Ltd               NCD                CRISIL AA+     2000    Reaffirmed
Chemmarathil Cashew Company             CC                 CRISIL BB-     10      Reaffirmed
Climax Overseas Pvt Ltd                 CC                 CRISIL BB      10      Reaffirmed
Climax Overseas Pvt Ltd                 Proposed FB Bk     CRISIL BB      37.5    Reaffirmed
                                        Limits
D D International                       CC                 CRISIL B       100     Assigned
Dalip Singh Rathore                     CC                 CRISIL B       10      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
DBM Geotechnics and Constructions Pvt   BG                 CRISIL D       1220    Reaffirmed
Ltd
DBM Geotechnics and Constructions Pvt   CC                 CRISIL D       1005    Reaffirmed
Ltd
DBM Geotechnics and Constructions Pvt   Funded Interest TL CRISIL D       90.9    Reaffirmed
Ltd
DBM Geotechnics and Constructions Pvt   Proposed LT Bk     CRISIL D       428.2   Reaffirmed
Ltd                                     Loan Fac
DBM Geotechnics and Constructions Pvt   WC TL              CRISIL D       105.9   Reaffirmed
Ltd
Delta Finochem Pvt Ltd                  CC                 CRISIL BBB-    150     Upgraded from
                                                                                  CRISIL BB+
Delta Finochem Pvt Ltd                  Proposed CC Limit  CRISIL BBB-    50      Upgraded from
                                                                                  CRISIL BB+
Delta Finochem Pvt Ltd                  Proposed WC Fac    CRISIL BBB-    25      Upgraded from
                                                                                  CRISIL BB+
DGP Steel Star Engineering Pvt Ltd      CC                 CRISIL B-      45      Reaffirmed
Fcom's Tex                              Proposed LT Bk     CRISIL B       100     Assigned
                                        Loan Fac
Global Knitfab                          CC                 CRISIL B       30      Reaffirmed
Global Knitfab                          TL                 CRISIL B       66.9    Reaffirmed
Gruh Finance Ltd                        NCD issue          CRISIL AAA     5000    Assigned
Gruh Finance Ltd                        NCD                CRISIL AAA     23150   Reaffirmed
Gruh Finance Ltd                        Subordinated Debt  CRISIL AAA     350     Reaffirmed
                                        issue
GSEC Ltd                                CC                 CRISIL BBB-    150     Reaffirmed
GSEC Ltd                                Proposed LT Bk     CRISIL BBB-    40      Reaffirmed
                                        Loan Fac
Hi-Tech Air Power Pvt Ltd               CC                 CRISIL BB-     91.7    Reaffirmed
Interlace India Pvt Ltd                 CC                 CRISIL BB+     50      Reaffirmed
Interlace India Pvt Ltd                 Proposed WC Fac    CRISIL BB+     10      Reaffirmed
Janki Newsprint Ltd                     CC                 CRISIL B       140     Downgraded
                                                                                  from CRISIL BB
Janki Newsprint Ltd                     LT Loan            CRISIL B       7.5     Downgraded
                                                                                  from CRISIL BB
Kedia Guar Gum Pvt Ltd                  CC                 CRISIL B       50      Reaffirmed
Kedia Guar Gum Pvt Ltd                  LT Loan            CRISIL B       15      Reaffirmed
KLJ Organic Ltd                         CC                 CRISIL A+      350     Upgraded from
                                                                                  CRISIL A
KLJ Organic Ltd                         TL                 CRISIL A+      360     Upgraded from
                                                                                  CRISIL A
KLJ Plasticizers Ltd                    CC                 CRISIL A+      800     Upgraded from
                                                                                  CRISIL A
KLJ Plasticizers Ltd                    TL                 CRISIL A+      70      Upgraded from
                                                                                  CRISIL A
KLJ Polymers and Chemicals Ltd          CC                 CRISIL A+      650     Upgraded from
                                                                                  CRISIL A
KLJ Polymers and Chemicals Ltd          TL                 CRISIL A+      79.3    Upgraded from
                                                                                  CRISIL A
KLJ Resources Ltd                       CC                 CRISIL A+      1000    Upgraded from
                                                                                  CRISIL A
KLJ Resources Ltd                       Proposed LT Bk     CRISIL A+      50      Upgraded from
                                        Loan Fac                                  CRISIL A
Kumar Dhall Mills                       CC                 CRISIL BBB     80      Reaffirmed
Laxmi Steels                            CC                 CRISIL BB      70      Reaffirmed
Malabar Gold Pvt Ltd                    CC                 CRISIL BBB+    3200    Reaffirmed
Malabar Gold Pvt Ltd                    Proposed LT Bk     CRISIL BBB+    4360    Reaffirmed
                                        Loan Fac
Malabar Gold Pvt Ltd                    TL                 CRISIL BBB+    90      Reaffirmed
Metal Forms Pvt Ltd                     Buyer`s Credit     CRISIL BB-     155     Reaffirmed
Metal Forms Pvt Ltd                     CC                 CRISIL BB-     102.5   Reaffirmed
Metal Forms Pvt Ltd                     TL                 CRISIL BB-     150     Reaffirmed
M-Tek Engineers                         CC                 CRISIL BB      62      Upgraded from
                                                                                  CRISIL BB-
M-Tek Engineers                         TL                 CRISIL BB      6.4     Upgraded from
                                                                                  CRISIL BB-
Nisan Exim                              TL                 CRISIL BB      44      Assigned
Nisan Exim                              CC                 CRISIL BB      30      Assigned
Nisan Exim                              SME Gold Card      CRISIL BB      3       Assigned
NYSE Infrastructure Pvt Ltd             LT Loan            CRISIL D       1100    Reaffirmed
NYSE Infrastructure Pvt Ltd             LT Loan            CRISIL D       1100    Reaffirmed
Om Power Transmission Pvt Ltd           CC                 CRISIL B       10      Downgraded
                                                                                  from CRISIL B+
P Ramesh                                CC                 CRISIL BB-     30      Upgraded from
                                                                                  CRISIL B+
P Ramesh                                Standby Line of    CRISIL BB-     4       Upgraded from
                                        Credit                                    CRISIL B+
Panchdeep Cotton Industries             CC                 CRISIL BB-     90      Assigned
Panduronga Timblo Industrias            CC                 CRISIL BBB     200     Assigned
Panduronga Timblo Industrias            Proposed LT Bk     CRISIL BBB     200     Assigned
                                        Loan Fac
Prakash Chemicals International Pvt Ltd TL                 CRISIL BBB     104.5   Upgraded from
                                                                                  CRISIL BBB-
Prithvi Sound Products Company Pvt Ltd  Proposed LT Bk     CRISIL BBB+    450     Upgraded from
                                        Loan Fac                                  CRISIL BBB
Sainik Mining and Allied Services Ltd   CC**               CRISIL BBB     1250    Reaffirmed
** Interchangeable with bank guarantee Limit to the extent of Rs 25 Crore
Sainik Mining and Allied Services Ltd   Overdraft          CRISIL BBB     50      Reaffirmed
Sainik Mining and Allied Services Ltd   Proposed LT Bk     CRISIL BBB     500     Reaffirmed
                                        Loan Fac
Sainik Mining and Allied Services Ltd   TL                 CRISIL BBB     970     Reaffirmed
Sakhi Food Products                     CC                 CRISIL B       24.5    Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Sakhi Food Products                     Proposed LT Bk     CRISIL B       16      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Sakhi Food Products                     TL                 CRISIL B       52.7    Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Sambhav Detergents Pvt Ltd              CC                 CRISIL BB-     29      Upgraded from
                                                                                  CRISIL B+
Sambhav Detergents Pvt Ltd              Proposed LT Bk     CRISIL BB-     20      Upgraded from
                                        Loan Fac                                  CRISIL B+
Sambhav Detergents Pvt Ltd              TL                 CRISIL BB-     50      Upgraded from
                                                                                  CRISIL B+
Sangini Commerce Pvt Ltd                TL                 CRISIL B-      500     Reaffirmed
Sangini Commerce Pvt Ltd                WC Demand Loan     CRISIL B-      50      Reaffirmed
Sejal Exports India                     Export Packing     CRISIL BBB-    19      Assigned
                                        Credit
Shamshree International Pvt Ltd         CC                 CRISIL B       49      Downgraded
                                                                                  from CRISIL B+
Shamshree International Pvt Ltd         LOC*               CRISIL B       45      Downgraded
                                                                                  from CRISIL B+
* Fully interchangeable to cash credit limits
Shankar Industries Rice Mill            CC                 CRISIL B       69.5    Reaffirmed
Shree Bala Ji Warehouse                 TL                 CRISIL B       110     Downgraded
                                                                                  from CRISIL B+
Shreejee Jewellers Pvt Ltd              CC                 CRISIL BB-     115     Reaffirmed
Shri Lal Bahadur Shastri Research and   CC                 CRISIL B+      20      Reaffirmed
Training Institute
Shri Lal Bahadur Shastri Research and   Proposed LT Bk     CRISIL B+      30      Reaffirmed
Training Institute                      Loan Fac
Shri Lal Bahadur Shastri Research and   TL                 CRISIL B+      20      Reaffirmed
Training Institute
Shri Rani Sati Foods and Grains Pvt Ltd CC                 CRISIL B       80      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Shri Rani Sati Foods and Grains Pvt Ltd Proposed LT Bk     CRISIL B       20      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Siddhi Vinayak Alloys                   CC                 CRISIL B       34      Reaffirmed
Siddhi Vinayak Alloys                   TL                 CRISIL B       46      Reaffirmed
Siri Ganesh Rice And Oil Mills          CC                 CRISIL B       70      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Siri Ganesh Rice And Oil Mills          Proposed LT Bk     CRISIL B       55      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Siva Cashew Company                     CC                 CRISIL B       65      Downgraded
                                                                                  from CRISIL B+
SLS Exports Pvt Ltd                     Packing Credit     CRISIL B+      90      Reaffirmed
Southern Holdings & Investments         LT Loan            CRISIL B       75      Reaffirmed
(Chennai) Pvt Ltd
Sri Ganesh Steels                       CC                 CRISIL B       80      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Sri Ganesh Steels                       Proposed LT Bk     CRISIL B       20      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Sri Lakshmi Mini Rice Mill              CC                 CRISIL B       45      Reaffirmed
Sri Lakshmi Mini Rice Mill              LT Loan            CRISIL B       37.5    Reaffirmed
Sri Laxmi Balaji Food Processing        CC                 CRISIL B       75      Downgraded
Industries                                                                        from CRISIL
                                                                                  BB-
Sri Laxmi Balaji Food Processing        LT Loan            CRISIL B       25      Downgraded
Industries                                                                        from CRISIL
                                                                                  BB-
Sri Laxmi Balaji Food Processing        Proposed LT Bk     CRISIL B       50      Downgraded
Industries                              Loan Fac                                  from CRISIL
                                                                                  BB-
Sri Loganayaki Timbers                  CC                 CRISIL B       6       Downgraded
                                                                                  from CRISIL B+
Sri Loganayaki Timbers                  LOC                CRISIL B       60      Downgraded
                                                                                  from CRISIL B+
Sri Manjubashini Chemicals Pvt Ltd      CC                 CRISIL B       70      Downgraded
                                                                                  from CRISIL BB
Sri Manjubashini Chemicals Pvt Ltd      Proposed LT Bk     CRISIL B       109.5   Downgraded
                                        Loan Fac                                  from CRISIL BB
Sri Manjubashini Chemicals Pvt Ltd      Standby Line of    CRISIL B       10.5    Downgraded
                                        Credit                                    from CRISIL BB
Sri Murugar Spinning Mill               CC                 CRISIL B       90      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Sri Ram Fibres                          Bill Discounting   CRISIL B       24      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Sri Ram Fibres                          Rupee TL           CRISIL B       11      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Sri Sai Lakshmi Rice Mill               CC                 CRISIL B       56.5    Downgraded
                                                                                  from CRISIL B+
Sri Srinivasa Paper Mills Pvt Ltd       CC                 CRISIL B-      20      Reaffirmed
Sri Srinivasa Paper Mills Pvt Ltd       LT Loan            CRISIL B-      35      Reaffirmed
Sri Varalakshmi Hitech Rice Industries  Proposed LT Bk     CRISIL B+      83.8    Assigned
                                        Loan Fac
Sri Varalakshmi Hitech Rice Industries  CC                 CRISIL B+      15      Assigned
Sri Venkateswara Rice Mill - Gollaprolu CC                 CRISIL B       39.5    Reaffirmed
Sri Venkateswara Rice Mill - Gollaprolu LT Loan            CRISIL B       12      Reaffirmed
Sri Venkateswara Rice Mill - Gollaprolu Proposed LT Bk     CRISIL B       11      Reaffirmed
                                        Loan Fac
Sri Venkateswara Rice Mill - Gollaprolu SME Credit         CRISIL B       2.5     Reaffirmed
Srushti Baths & Interiors Pvt Ltd       CC                 CRISIL B       40      Reaffirmed
Srushti Baths & Interiors Pvt Ltd       LT Loan            CRISIL B       10      Reaffirmed
Srushti Baths & Interiors Pvt Ltd       Proposed LT Bk     CRISIL B       40      Reaffirmed
                                        Loan Fac
Steelways Enterprises                   CC                 CRISIL D       70      Reaffirmed
Steelways Enterprises                   Proposed LT Bk     CRISIL D       30      Reaffirmed
                                        Loan Fac
Sterling Tubes                          Open CC            CRISIL B       60      Downgraded
                                                                                  from CRISIL B+
Subhshri Developers                     Proposed TL        CRISIL B       100     Downgraded
                                                                                  from CRISIL B+
Sufalam Infra Projects Ltd              CC                 CRISIL B       100     Reaffirmed
Sufalam Infra Projects Ltd              Proposed CC Limit  CRISIL B       50      Reaffirmed
Technova Imaging Systems Pvt Ltd        CC                 CRISIL BBB+    1400    Reaffirmed
Technova Imaging Systems Pvt Ltd        TL                 CRISIL BBB+    100     Reaffirmed
Timblo Drydocks Pvt Ltd                 CC                 CRISIL BB-     500     Assigned
TNS Heavy Engineering Pvt Ltd           CC                 CRISIL BB-     55      Reaffirmed
Transcorp International Ltd             CC                 CRISIL BBB-    170     Reaffirmed
Transcorp International Ltd             Overdraft          CRISIL BBB-    0.5     Reaffirmed
Transcorp International Ltd             Proposed LT Bk     CRISIL BBB-    6.2     Reaffirmed
                                        Loan Fac
Transcorp International Ltd             TL                 CRISIL BBB-    30      Reaffirmed
Transcorp International Ltd             FD                 FA-/Ne         150     Notice of
                                                                                  Withdrawal
Ultra Tech Transmissions                Proposed LT Bk     CRISIL BB      25      Reaffirmed
                                        Loan Fac
Unitriveni Overseas                     Proposed LT Bk     CRISIL BB-     10      Assigned
                                        Loan Fac
Unitriveni Overseas                     Export Packing     CRISIL BB-     45      Assigned
                                        Credit
Unitriveni Overseas                     Foreign Bill       CRISIL BB-     40      Assigned
                                        Discounting
Vallabh Textiles Co. Ltd                CC                 CRISIL BB      800     Reaffirmed
Vallabh Textiles Co. Ltd                Proposed LT Bk     CRISIL BB      59.7    Reaffirmed
                                        Loan Fac
Vallabh Textiles Co. Ltd                TL                 CRISIL BB      1187.8  Reaffirmed
VNR Seeds Pvt Ltd                       CC                 CRISIL BBB+    750     Reaffirmed
VNR Seeds Pvt Ltd                       TL                 CRISIL BBB+    100     Reaffirmed
Wintouch Ceramic                        CC                 CRISIL B+      30      Upgraded from
                                                                                  CRISIL B
Wintouch Ceramic                        Proposed LT Bk     CRISIL B+      9.3     Upgraded from
                                        Loan Fac                                  CRISIL B
Wintouch Ceramic                        TL                 CRISIL B+      69.7    Upgraded from
                                                                                  CRISIL B
--------------------------------------------------------------------------------------------
$: 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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