March 27, 2017 / 6:50 AM / in 9 months

CRISIL ratings for Indian debt instruments-Mar 27

   Mar 27 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of March 24, 2017.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Adani Ports and Special Economic Zone   Non-FBL            CRISIL A1+     2000    Notice of
Ltd                                                                               Withdrawal
Adani Ports and Special Economic Zone   Non-FBL            CRISIL A1+     15920   Notice of
Ltd                                                                               Withdrawal
Agsons Agencies India Pvt Ltd           LOC                CRISIL A4+     700     Reaffirmed
Aquapharm Chemicals Pvt Ltd             LOC & BG           CRISIL A1      1300    Reaffirmed
Arrow Powertech Pvt Ltd                 Letter Of GuaranteeCRISIL A4+     15      Assigned
Arrow Powertech Pvt Ltd                 Inland/Import LOC  CRISIL A4+     50      Assigned
Ashirwad Construction                   Overdraft          CRISIL A4+     40      Assigned
Asian Leather Pvt Ltd                   BG                 CRISIL A3      3       Reaffirmed
Asian Leather Pvt Ltd                   Export Packing     CRISIL A3      80      Reaffirmed
                                        Credit
Asian Leather Pvt Ltd                   Foreign Bill       CRISIL A3      80      Reaffirmed
                                        Discounting
Asian Leather Pvt Ltd                   LOC                CRISIL A3      4       Reaffirmed
Asian Leather Pvt Ltd                   Standby Line of    CRISIL A3      25      Reaffirmed
                                        Credit
B.L. International Pvt Ltd              Export Packing     CRISIL A4+     450     Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Bharat Exim and Trading Company Pvt Ltd Export Bill        CRISIL A4      120     Reaffirmed
                                        Negotiation
Bharat Exim and Trading Company Pvt Ltd Packing Credit     CRISIL A4      93.6    Reaffirmed
Bharat Heavy Electricals Ltd            LOC & BG           CRISIL A1+     534450  Reaffirmed
Bharat Heavy Electricals Ltd            Proposed LOC & BG  CRISIL A1+     15550   Reaffirmed
Bhilai Engineering Works                BG                 CRISIL A4      13      Reaffirmed
Bhilai Engineering Works                LOC                CRISIL A4      4       Reaffirmed
Cargill India Pvt Ltd                   CP Programme       CRISIL A1+     1500    Reaffirmed
Classic Binding Industries              Letter Of GuaranteeCRISIL A3      100     Assigned
DDN SFA Ltd                             BG                 CRISIL A4+     15      Reaffirmed
DEE Control and Electric Pvt Ltd        BG                 CRISIL A4+     150     Reaffirmed
DEE Control and Electric Pvt Ltd        LOC                CRISIL A4+     50      Reaffirmed
Emmbros AutoComp Ltd                    BG                 CRISIL A3      1.2     Reaffirmed
Garuda Infratech India Pvt Ltd          BG                 CRISIL A4      30      Upgraded from
                                                                                  CRISIL D
Grand Auto Udyog Pvt Ltd                BG                 CRISIL A4+     7       Reaffirmed
Grover Zampa Vineyards Ltd              BG                 CRISIL A4      30      Reaffirmed
Grover Zampa Vineyards Ltd              ST Loan            CRISIL A4      26.5    Reaffirmed
H.D. System Sales Pvt Ltd               BG                 CRISIL A4      50      Assigned
HGE International Pvt Ltd               LOC                CRISIL A4+     15      Reaffirmed
HGE International Pvt Ltd               Packing Credit     CRISIL A4+     30      Reaffirmed
Highway Industries Ltd                  Packing Credit     CRISIL A1      495.2   Reaffirmed
India Japan Lighting Pvt Ltd.           BG                 CRISIL A3+     156.5   Reaffirmed
India Japan Lighting Pvt Ltd.           LOC*               CRISIL A3+     200     Reaffirmed
India Japan Lighting Pvt Ltd.           LOC                CRISIL A3+     43.5    Reaffirmed
India Japan Lighting Pvt Ltd.           ST Loan            CRISIL A3+     140     Reaffirmed
INFINA Finance Pvt Ltd                  ST Debt            CRISIL A1+     4500    Reaffirmed
INFINA Finance Pvt Ltd                  CP Issue*          CRISIL A1+     100000  Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis
INFINA Finance Pvt Ltd                  CP Issue*          CRISIL A1+     50000   Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis
Jatson Power Pvt Ltd                    BG                 CRISIL A4      32.5    Reaffirmed
Laila Nutraceuticals                    Packing Credit     CRISIL A4+     350     Reaffirmed
Mahendra Rice Industry                  BG                 CRISIL A4+     7       Assigned
Mehta Petro-Refineries Ltd              BG                 CRISIL A3      80      Reaffirmed
Mehta Petro-Refineries Ltd              LOC                CRISIL A3      150     Reaffirmed
Modelama Exports Pvt Ltd                Export Packing     CRISIL A3+     770     Reaffirmed
                                        Credit
Modelama Exports Pvt Ltd                LOC                CRISIL A3+     300     Reaffirmed
Modelama Exports Pvt Ltd                Standby Line of    CRISIL A3+     150     Assigned
                                        Credit
Nandilath G-Mart                        Overdraft          CRISIL A4+     350     Reaffirmed
Omega International                     Packing Credit in  CRISIL A4+     60      Assigned
                                        Foreign Currency
Pasupati Spinning and Weaving Mills Ltd BG                 CRISIL A4+     25.1    Reaffirmed
Pasupati Spinning and Weaving Mills Ltd LOC                CRISIL A4+     44.6    Reaffirmed
Pasupati Spinning and Weaving Mills Ltd Packing Credit     CRISIL A4+     20      Reaffirmed
Prakash Chand Rai                       BG                 CRISIL A4      80.5    Reassigned
Rajshekhar Constructions Pvt Ltd        BG                 CRISIL A4      100     Assigned
Sandoz Merchants Pvt Ltd                BG                 CRISIL A4      30      Reaffirmed
Shib Dass Metals Pvt Ltd                LOC                CRISIL A4+     40      Assigned
Singhal Power Presses Pvt Ltd           BG                 CRISIL A4+     15      Reaffirmed
Singhal Power Presses Pvt Ltd           Import LOC Limit   CRISIL A4+     10      Reaffirmed
Sonas - Bangalore                       BG                 CRISIL A4+     10      Assigned
SPDD Infra Pvt Ltd                      BG                 CRISIL A4+     80      Assigned
SPI Industries Pvt Ltd                  LOC                CRISIL A4+     100     Reaffirmed
Sunpack Barrier Films Pvt Ltd           LOC                CRISIL A4+     15      Upgraded from
                                                                                  CRISIL A4
Swiss Parenterals Pvt Ltd               BG                 CRISIL A3      40      Reaffirmed
Swiss Parenterals Pvt Ltd               LOC#               CRISIL A3      80      Reaffirmed
#Includes sub-limit of buyer's credit of Rs.8 Crore 
Tirupati Basmati Exports Pvt Ltd        Foreign Exchange   CRISIL D       50      Downgraded
                                        Forward                                   from CRISIL A3
URSS Techservices Pvt Ltd               BG                 CRISIL A3      14      Reaffirmed
Ved Sassomeccanica India Pvt Ltd        BG                 CRISIL A3+     10      Upgraded from
                                                                                  CRISIL A3

Ved Sassomeccanica India Pvt Ltd        Capex LOC          CRISIL A3+     14      Upgraded from
                                                                                  CRISIL A3
Vihan Engineering Pvt Ltd               Bill Discounting   CRISIL A4+     16      Reaffirmed
                                        under LOC
VRC Constructions India Pvt Ltd         BG                 CRISIL A3+     2130    Reaffirmed


LONG TERM RATINGS:
-------------------
ABC Inc                                 CC                 CRISIL BB-     140     Assigned
Adani Ports and Special Economic Zone   LT Loan            CRISIL AA-     0       Reaffirmed
Ltd
Adani Ports and Special Economic Zone   LT Loan            CRISIL AA-     0       Reaffirmed
Ltd
Adani Ports and Special Economic Zone   LT Loan            CRISIL AA-     0       Reaffirmed
Ltd
Advanced Enzyme Technologies Ltd        TL                 CRISIL A       200     Assigned
Advanced Enzyme Technologies Ltd        Overdraft          CRISIL A       500     Assigned
Advanced Enzyme Technologies Ltd        Proposed LT Bk     CRISIL A       300     Assigned
                                        Loan Fac
Agarwal Fabtex Pvt Ltd                  CC                 CRISIL BB      125     Reaffirmed
Agarwal Fabtex Pvt Ltd                  Proposed LT Bk     CRISIL BB      25      Reaffirmed
                                        Loan Fac
Agsons Agencies India Pvt Ltd           LOC                CRISIL BB-     150     Reaffirmed
Aquapharm Chemicals Pvt Ltd             CC                 CRISIL A       1000    Upgraded from
                                                                                  CRISIL A-
Aquapharm Chemicals Pvt Ltd             Proposed LT Bk     CRISIL A       20      Upgraded from
                                        Loan Fac                                  CRISIL A-
Arrow Powertech Pvt Ltd                 Proposed LT Bk     CRISIL BB-     90      Assigned
                                        Loan Fac
Arrow Powertech Pvt Ltd                 Bill Discounting   CRISIL BB-     5       Assigned
Arrow Powertech Pvt Ltd                 CC                 CRISIL BB-     20      Assigned
Ashirwad Construction                   Proposed LT Bk     CRISIL BB-     40      Assigned
                                        Loan Fac
Asian Leather Pvt Ltd                   Proposed FB Bk     CRISIL BBB-    8       Reaffirmed
                                        Limits
B.L. International Pvt Ltd              Overdraft          CRISIL BB      70      Reaffirmed
B.L. International Pvt Ltd              Proposed FB Bk     CRISIL BB      75.3    Reaffirmed
                                        Limits
B.L. International Pvt Ltd              TL                 CRISIL BB      186.5   Reaffirmed
B.L. International Pvt Ltd              WC TL              CRISIL BB      118.2   Reaffirmed
Bharat Heavy Electricals Ltd            CC                 CRISIL AA+     37500   Reaffirmed
Bharat Heavy Electricals Ltd            Proposed CC Limit  CRISIL AA+     12500   Reaffirmed
Bhilai Engineering Works                CC                 CRISIL B       30      Reaffirmed
Bhilai Engineering Works                TL                 CRISIL B       10      Reaffirmed
Bodycare Creations Ltd                  CC                 CRISIL BBB-    215     Reaffirmed
Bodycare Creations Ltd                  LT Loan            CRISIL BBB-    143     Reaffirmed
Bodycare Creations Ltd                  Proposed TL        CRISIL BBB-    22      Reaffirmed
Cholamandalam MS General Insurance Co.  Subordinated Debt  CRISIL AA      1000    Assigned
Ltd                                     Issue
Classic Binding Industries              CC                 CRISIL BBB-    10      Assigned
DDN SFA Ltd                             CC                 CRISIL BB-     100     Reaffirmed
DDN SFA Ltd                             Proposed LT Bk     CRISIL BB-     67.2    Reaffirmed
                                        Loan Fac
DDN SFA Ltd                             TL                 CRISIL BB-     67.8    Reaffirmed
Debogram Agro Industries LLP            LT Loan            CRISIL B       120     Assigned
DEE Control and Electric Pvt Ltd        CC                 CRISIL BB      50      Reaffirmed
Embiotic Laboratories Pvt Ltd           CC                 CRISIL B+      120     Reaffirmed
Emmbros AutoComp Ltd                    CC                 CRISIL BBB-    60      Reaffirmed
Emmbros AutoComp Ltd                    TL                 CRISIL BBB-    29.6    Reaffirmed
G3 Motors Ltd                           Standby LOC        CRISIL BBB-    200     Assigned
G3 Motors Ltd                           Proposed LT Bk     CRISIL BBB-    25      Assigned
                                        Loan Fac
G3 Motors Ltd                           LT Loan            CRISIL BBB-    15      Assigned
G3 Motors Ltd                           CC                 CRISIL BBB-    120     Assigned
G3 Motors Ltd                           Inventory Funding  CRISIL BBB-    140     Assigned
                                        Fac
Ganapati India International Pvt Ltd    TL                 CRISIL B+      400     Assigned
Gartech Equipments Pvt Ltd              CC                 CRISIL BBB-    50      Reaffirmed
Gartech Equipments Pvt Ltd              Proposed Rupee TL  CRISIL BBB-    30      Reaffirmed
Gartech Equipments Pvt Ltd              Proposed WC Fac    CRISIL BBB-    4.8     Reaffirmed
Gartech Equipments Pvt Ltd              Rupee TL           CRISIL BBB-    19.1    Assigned
Garuda Infratech India Pvt Ltd          CC                 CRISIL C       60      Upgraded from
                                                                                  CRISIL D
Garuda Infratech India Pvt Ltd          Proposed LT Bk     CRISIL C       170     Upgraded from
                                        Loan Fac                                  CRISIL D
Golawala Diamonds                       Export Packing     CRISIL BB+     60      Reaffirmed
                                        Credit
Golawala Diamonds                       Non-FBL            CRISIL BB+     8.2     Reaffirmed
Golawala Diamonds                       Post Shipment      CRISIL BB+     180     Reaffirmed
                                        Credit
Golawala Diamonds                       Proposed LT Bk     CRISIL BB+     1.8     Reaffirmed
                                        Loan Fac
Grand Auto Udyog Pvt Ltd                CC                 CRISIL BB-     170     Reaffirmed
Grover Zampa Vineyards Ltd              CC                 CRISIL B       135     Reaffirmed
Grover Zampa Vineyards Ltd              Foreign Bill       CRISIL B       8.5     Reaffirmed
                                        Discounting
H.D. System Sales Pvt Ltd               CC                 CRISIL B+      50      Assigned
HCL Technologies Ltd                    Corporate Credit   CRISIL AAA     0       Reaffirmed
                                        Rating
HGE International Pvt Ltd               Foreign Bill       CRISIL BB-     20      Reaffirmed
                                        Purchase
HGE International Pvt Ltd               LT Loan            CRISIL BB-     5       Reaffirmed
HGE International Pvt Ltd               Proposed LT Bk     CRISIL BB-     15      Reaffirmed
                                        Loan Fac
Highway Industries Ltd                  Buyer`s Credit     CRISIL A       146.5   Reaffirmed
Highway Industries Ltd                  CC                 CRISIL A       717.5   Reaffirmed
Highway Industries Ltd                  CC$                CRISIL A       100     Reaffirmed
$ Fully interchangeable among letter of credit/buyers credit/bank guarantee facilities 
Highway Industries Ltd                  TL^^               CRISIL A       91.7    Reaffirmed
^^Fully interchangeable among capex letter of credit/buyers credit
Highway Industries Ltd                  TL                 CRISIL A       1006.6  Reaffirmed
India Infradebt Ltd                     NCDs               CRISIL AAA     2000    Assigned
India Infradebt Ltd                     NCDs               CRISIL AAA     40000   Reaffirmed
India Japan Lighting Pvt Ltd.           CC                 CRISIL BBB     50      Reaffirmed
India Japan Lighting Pvt Ltd.           Proposed LT Bk     CRISIL BBB     580     Reaffirmed
                                        Loan Fac
Ishwarcharan Builders Pvt Ltd           Proposed LT Bk     CRISIL B-      300     Reaffirmed
                                        Loan Fac
Jatson Power Pvt Ltd                    CC                 CRISIL B+      40.2    Reaffirmed
Jatson Power Pvt Ltd                    TL                 CRISIL B+      1.2     Reaffirmed
Kalinga Commercial Corporation Ltd      WC TL              CRISIL D       420     Assigned
Kalinga Commercial Corporation Ltd      Proposed LT Bk     CRISIL D       100     Assigned
                                        Loan Fac
Kalinga Commercial Corporation Ltd      BG                 CRISIL D       200     Assigned
Kalinga Commercial Corporation Ltd      CC                 CRISIL D       230     Assigned
Krishna Ginning And Pressing Factory    CC                 CRISIL BB-     53      Reaffirmed
Kushal Foods Pvt Ltd                    CC                 CRISIL BBB-    95      Reaffirmed
Kushal Foods Pvt Ltd                    Proposed LT Bk     CRISIL BBB-    5.5     Assigned
                                        Loan Fac
Kushal Foods Pvt Ltd                    LT Loan            CRISIL BBB-    24.5    Assigned
Laila Nutraceuticals                    LT Loan            CRISIL BB      46.9    Upgraded from
                                                                                  CRISIL BB-
Laila Nutraceuticals                    Proposed LT Bk     CRISIL BB      233.1   Upgraded from
                                        Loan Fac                                  CRISIL BB-
Lecole Chempaka Society for Educare     CC                 CRISIL BB-     5       Reaffirmed
Lecole Chempaka Society for Educare     Proposed LT Bk     CRISIL BB-     11      Reaffirmed
                                        Loan Fac
Lecole Chempaka Society for Educare     TL                 CRISIL BB-     44      Reaffirmed
Lion Insulation Pvt Ltd                 CC                 CRISIL B-      30      Assigned
Lion Insulation Pvt Ltd                 TL                 CRISIL B-      34      Assigned
Lord Ganesh Roller Flour Mills          CC                 CRISIL B+      60      Assigned
Mahendra Rice Industry                  CC                 CRISIL BB-     80      Assigned
Mahendra Rice Industry                  Proposed FB Bk     CRISIL BB-     3       Assigned
                                        Limits
Mehta Petro-Refineries Ltd              CC                 CRISIL BBB-    270     Reaffirmed
Mehta Petro-Refineries Ltd              Proposed LT Bk     CRISIL BBB-    70      Reaffirmed
                                        Loan Fac
Mehta Petro-Refineries Ltd              Standby LOC        CRISIL BBB-    50      Reaffirmed
Mehta Petro-Refineries Ltd              TL                 CRISIL BBB-    30      Reaffirmed
Minaxi Textiles Ltd                     CC                 CRISIL BB      155     Assigned
Minaxi Textiles Ltd                     TL                 CRISIL BB      55      Assigned
Modelama Exports Pvt Ltd                CC                 CRISIL BBB     30      Assigned
Modelama Exports Pvt Ltd                Proposed LT Bk     CRISIL BBB     500     Assigned
                                        Loan Fac
Mukti Firms Pvt Ltd                     WC Fac             CRISIL B-      5       Assigned
Mukti Firms Pvt Ltd                     CC                 CRISIL B-      25      Assigned
Mukti Firms Pvt Ltd                     LT Loan            CRISIL B-      49      Assigned
Nandilath G-Mart                        CC                 CRISIL BB-     250     Reaffirmed
Nandilath G-Mart                        LT Loan            CRISIL BB-     50      Reaffirmed
Nupur Heights Pvt Ltd                   CC                 CRISIL B+      50      Assigned
Omega International                     Foreign Bill       CRISIL BB-     120     Reaffirmed
                                        Discounting
Onora Hospitality Pvt Ltd               Overdraft          CRISIL BB-     50      Reaffirmed
Parthvimeda Panchgavy Utpad Pvt Ltd     CC                 CRISIL BB      160     Reaffirmed
Parthvimeda Panchgavy Utpad Pvt Ltd     TL                 CRISIL BB      25      Reaffirmed
Pasupati Spinning and Weaving Mills Ltd CC                 CRISIL BB-     299.2   Reaffirmed
Pasupati Spinning and Weaving Mills Ltd Foreign Bill       CRISIL BB-     51.7    Reaffirmed
                                        Discounting
Pasupati Spinning and Weaving Mills Ltd Proposed LT Bk     CRISIL BB-     48.5    Reaffirmed
                                        Loan Fac
Pasupati Spinning and Weaving Mills Ltd TL                 CRISIL BB-     59.1    Reaffirmed
Pate Developers                         Proposed LT Bk     CRISIL BB-     55      Downgraded
                                        Loan Fac                                  from CRISIL BB
Pate Developers                         TL                 CRISIL BB-     145     Downgraded
                                                                                  from CRISIL BB
Popular Vehicles and Services Pvt Ltd   CC                 CRISIL BBB     200     Assigned
Popular Vehicles and Services Pvt Ltd   Inventory Funding  CRISIL BBB     2225    Assigned
                                        Fac
Popular Vehicles and Services Pvt Ltd   LT Loan            CRISIL BBB     375.7   Assigned
Popular Vehicles and Services Pvt Ltd   WC Loan            CRISIL BBB     99.3    Assigned
Prakash Chand Rai                       CC                 CRISIL B+      9.5     Assigned
PVR Ltd                                 LT Loan            CRISIL AA-     3483.3  Reaffirmed
Rajshekhar Constructions Pvt Ltd        Drop Line          CRISIL B+      150     Assigned
                                        Overdraft Fac
Rayontex Yarn Traders Pvt Ltd           CC                 CRISIL BB      75      Reaffirmed
Rayontex Yarn Traders Pvt Ltd           Proposed LT Bk     CRISIL BB      75      Reaffirmed
                                        Loan Fac
Sakku Spinning Mills Pvt Ltd            LT Loan            CRISIL BB      300     Assigned
Sakku Spinning Mills Pvt Ltd            Bill Discounting   CRISIL BB      500     Assigned
Sakku Spinning Mills Pvt Ltd            CC                 CRISIL BB      300     Assigned
Sandoz Merchants Pvt Ltd                CC                 CRISIL B+      35      Reaffirmed
Sapthavarna Builders Pvt Ltd            Drop Line          CRISIL B+      30      Reaffirmed
                                        Overdraft Fac
Sapthavarna Builders Pvt Ltd            LT Loan            CRISIL B+      17      Reaffirmed
Sapthavarna Builders Pvt Ltd            Overdraft          CRISIL B+      20      Reaffirmed
Sapthavarna Builders Pvt Ltd            Proposed LT Bk     CRISIL B+      33      Reaffirmed
                                        Loan Fac
Shib Dass Metals Pvt Ltd                WC Demand Loan     CRISIL BB-     50      Assigned
Shib Dass Metals Pvt Ltd                Channel Financing  CRISIL BB-     30      Assigned
Siddheshwari Paper Mill                 CC                 CRISIL B+      10      Upgraded from
                                                                                  CRISIL B
Siddheshwari Paper Mill                 Proposed LT Bk     CRISIL B+      20.5    Upgraded from
                                        Loan Fac                                  CRISIL B
Siddheshwari Paper Mill                 TL                 CRISIL B+      49.5    Upgraded from
                                                                                  CRISIL B
Singhal Power Presses Pvt Ltd           CC                 CRISIL BB+     40      Reaffirmed
Singhal Power Presses Pvt Ltd           LT Loan            CRISIL BB+     141.7   Reaffirmed
Sonas - Bangalore                       WC Demand Loan     CRISIL BB-     10      Assigned
Sonas - Bangalore                       CC                 CRISIL BB-     60      Assigned
SPDD Infra Pvt Ltd                      CC/ Overdraft Fac  CRISIL BB-     30      Assigned
SPI Industries Pvt Ltd                  CC                 CRISIL BB+     30      Reaffirmed
SPI Industries Pvt Ltd                  Proposed LT Bk     CRISIL BB+     80      Reaffirmed
                                        Loan Fac
Sri Lakshmi Venkateswara Rice Industry  CC                 CRISIL B+      70      Assigned
Sri Lakshmi Venkateswara Rice Industry  Proposed FB Bk     CRISIL B+      10      Assigned
                                        Limits
Sunpack Barrier Films Pvt Ltd           CC                 CRISIL BB-     35      Upgraded from
                                                                                  CRISIL B+
Sunpack Barrier Films Pvt Ltd           Proposed LT Bk     CRISIL BB-     29.1    Upgraded from
                                        Loan Fac                                  CRISIL B+
Sunpack Barrier Films Pvt Ltd           WC TL              CRISIL BB-     75      Upgraded from
                                                                                  CRISIL B+
Swarnsarita Gems Ltd                    CC                 CRISIL BB+     500     Reaffirmed
Swarnsarita Gems Ltd                    Proposed LT Bk     CRISIL BB+     120     Reaffirmed
                                        Loan Fac
Swiss Parenterals Pvt Ltd               CC*                CRISIL BBB-    100     Reaffirmed
Swiss Parenterals Pvt Ltd               Export Packing     CRISIL BBB-    10      Reaffirmed
                                        Credit
Swiss Parenterals Pvt Ltd               Foreign Bill       CRISIL BBB-    10      Reaffirmed
                                        Purchase
Swiss Parenterals Pvt Ltd               Proposed LT Bk     CRISIL BBB-    64      Reaffirmed
                                        Loan Fac
Tapi Prestressed Products Ltd           LOC                CRISIL D       230     Assigned
Tapi Prestressed Products Ltd           BG                 CRISIL D       200     Assigned
Tapi Prestressed Products Ltd           CC                 CRISIL D       200     Assigned
Tirupati Basmati Exports Pvt Ltd        CC                 CRISIL D       435     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Tirupati Basmati Exports Pvt Ltd        Export Packing     CRISIL D       520     Downgraded
                                        Credit                                    from CRISIL
                                                                                  BBB-
Tirupati Basmati Exports Pvt Ltd        Foreign Bill       CRISIL D       175     Downgraded
                                        Purchase                                  from CRISIL
                                                                                  BBB-
Tirupati Basmati Exports Pvt Ltd        Proposed LT Bk     CRISIL D       35      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
Tirupati Basmati Exports Pvt Ltd        Standby Line of    CRISIL D       105     Downgraded
                                        Credit                                    from CRISIL
                                                                                  BBB-
Tirupati Basmati Exports Pvt Ltd        TL                 CRISIL D       80      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
URSS Techservices Pvt Ltd               CC                 CRISIL BBB-    60      Reaffirmed
Valli Murugan Tile Works & Chamber      TL                 CRISIL B       35      Assigned
Bricks
Valli Murugan Tile Works & Chamber      CC                 CRISIL B       25      Assigned
Bricks
Valli Murugan Tile Works & Chamber      Proposed LT Bk     CRISIL B       5       Assigned
Bricks                                  Loan Fac
Ved Sassomeccanica India Pvt Ltd        CC                 CRISIL BBB     50      Upgraded from
                                                                                  CRISIL BBB-
Ved Sassomeccanica India Pvt Ltd        Proposed FB Bk     CRISIL BBB     44.5    Upgraded from
                                        Limits                                    CRISIL BBB-
Ved Sassomeccanica India Pvt Ltd        WC Demand Loan     CRISIL BBB     6.5     Upgraded from
                                                                                  CRISIL BBB-
Vihan Engineering Pvt Ltd               CC                 CRISIL BB      10      Reaffirmed
Vihan Engineering Pvt Ltd               LT Loan            CRISIL BB      34.5    Reaffirmed
Vihan Engineering Pvt Ltd               Proposed LT Bk     CRISIL BB      5.5     Assigned
                                        Loan Fac
Vikas Home Furnishing                   TL                 CRISIL B+      30      Assigned
Vikas Home Furnishing                   CC                 CRISIL B+      26      Assigned
Vikas Home Furnishing                   Proposed LT Bk     CRISIL B+      44      Assigned
                                        Loan Fac
VRC Constructions India Pvt Ltd         CC                 CRISIL BBB     260     Reaffirmed
VRC Constructions India Pvt Ltd         Foreign LOC        CRISIL BBB     85      Reaffirmed
VRC Constructions India Pvt Ltd         Overdraft          CRISIL BBB     100     Assigned
VRC Constructions India Pvt Ltd         LT Loan            CRISIL BBB     75      Assigned
Wonderland Amusement Park Pvt Ltd       Overdraft          CRISIL BB-     50      Upgraded from
                                                                                  CRISIL B+
Yasika Steels Pvt Ltd                   CC                 CRISIL D       30      Issuer not
                                                                                  Cooperating; 
                                                                                  Downgraded 
                                                                                  from
                                                                                  CRISIL C
Yasika Steels Pvt Ltd                   Funded Interest TL CRISIL D       15.1    Issuer not
                                                                                  Cooperating;
                                                                                  Downgraded 
                                                                                  from
                                                                                  CRISIL C
Yasika Steels Pvt Ltd                   Proposed LT Bk     CRISIL D       50.6    Issuer not
                                        Loan Fac                                  Cooperating; 
                                                                                  Downgraded 
                                                                                  from
                                                                                  CRISIL C
Yasika Steels Pvt Ltd                   TL                 CRISIL D       6.8     Issuer not
                                                                                  Cooperating; 
                                                                                  Downgraded 
                                                                                  from
                                                                                  CRISIL C
                                                                                  Downgraded 
                                                                                  from
                                                                                  CRISIL C
Yasika Steels Pvt Ltd                   WC Demand Loan     CRISIL D       47.5    Issuer not
                                                                                  Cooperating;
                                                                                  Downgraded 
                                                                                  from
                                                                                  CRISIL C
--------------------------------------------------------------------------------------------
$: 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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