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CRISIL ratings for Indian debt instruments-Aug 10
August 10, 2017 / 6:34 AM / 4 months ago

CRISIL ratings for Indian debt instruments-Aug 10

    Aug 10 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of August 9, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aarti Drugs Ltd                         WC Fac             CRISIL A1      1460    Reaffirmed
Abdul Rahiman Engineer & Contractor -   BG                 CRISIL A4      50      Downgraded
Udupi                                                                             from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Acme Excellent Management Pvt Ltd       BG                 CRISIL A4+     56.8    Reaffirmed
Ambadi Investments Pvt Ltd              CP Programme       CRISIL A1+     170     Reaffirmed
Anil Steels Pvt Ltd                     LOC & BG           CRISIL A4      110     Reaffirmed
AVN Petrochemicals India                LOC                CRISIL         200     Downgraded
                                                           A4(Issuer Not          from 'CRISIL
                                                           Cooperating)           A4+
Issuer Not Cooperating
BIC Chemicals and Packagings Pvt Ltd    Inland/Import LOC  CRISIL A4      18.3    Reaffirmed
Brindavan Agro Industries Pvt Ltd       Overdraft          CRISIL A2+     100     Reaffirmed
Chenab Impex Pvt Ltd                    BG                 CRISIL A4      12      Reaffirmed
Issuer Not Cooperating
Chenab Impex Pvt Ltd                    LOC*               CRISIL A4      7.5     Reaffirmed
Issuer Not Cooperating
Delsea Exports Pvt Ltd                  Bill Discounting   CRISIL A4      100     Reaffirmed
DRRK Foods Pvt Ltd                      Packing Credit     CRISIL A4+     1070    Reaffirmed
Durga Carriers Pvt Ltd                  BG                 CRISIL A4      5       Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Eros Motors Pvt Ltd                     BG                 CRISIL A4+     20      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Fabtech Technologies International Ltd  BG                 CRISIL A2      200     Upgraded from
                                                                                  CRISIL A3+
Fabtech Technologies International Ltd  LOC & BG           CRISIL A2      330     Upgraded from
                                                                                  CRISIL A3+
Haseeb Pharmaceuticals Pvt Ltd          BG                 CRISIL A4      5       Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
J. S. Auto Pvt Ltd                      LOC                CRISIL A4+     20      Reaffirmed
Jyoti Polyvinyl Ltd                     BG                 CRISIL A4+     5       Reaffirmed
Jyoti Polyvinyl Ltd                     Inland/Import LOC  CRISIL A4+     25      Reaffirmed
Jyoti Polyvinyl Ltd                     Packing Credit     CRISIL A4+     25      Reaffirmed
Jyoti Vinyl Ltd                         BG                 CRISIL A4+     2.5     Reaffirmed
Jyoti Vinyl Ltd                         Inland/Import LOC  CRISIL A4+     35      Reaffirmed
Jyoti Vinyl Ltd                         Packing Credit     CRISIL A4+     52.5    Reaffirmed
Kanpur Plastipack Ltd                   BG                 CRISIL A2      90      Reaffirmed
Kanpur Plastipack Ltd                   Foreign Bill       CRISIL A2      350     Reaffirmed
                                        Exchange
Kanpur Plastipack Ltd                   Foreign Exchange   CRISIL A2      30      Reaffirmed
                                        Forward
Kanpur Plastipack Ltd                   LOC                CRISIL A2      120     Reaffirmed
Kothari Fermentation And Biochem Ltd    BG                 CRISIL A4+     18.5    Reaffirmed
Madhuban Trade Steels Pvt Ltd           LOC                CRISIL A2      90      Upgraded from
                                                                                  CRISIL A3+
MAG Solvics Pvt Ltd                     BG                 CRISIL A4+     6       Reaffirmed
MTC Business Pvt Ltd                    Inland/Import LOC  CRISIL A2+     5350    Upgraded from
                                                                                  CRISIL A2
Murugappa Holdings Ltd                  CP Programme       CRISIL A1+     1200    Reaffirmed
N. C. Das and Co                        Export Packing     CRISIL A4+     150     Reaffirmed
                                        Credit
N. C. Das and Co                        Foreign            CRISIL A4+     150     Reaffirmed
                                        Discounting Bill
                                        Purchase
Padmavathi Hospitality & Facilities     BG                 CRISIL A3      150     Reaffirmed
Management Service
Pegasus Farmaco India Pvt Ltd           LOC                CRISIL A4+     5       Assigned
PPAP Automotive Ltd                     BG                 CRISIL A1      131     Reaffirmed
PPAP Automotive Ltd                     Capex LOC          CRISIL A1      100     Reaffirmed
PPAP Automotive Ltd                     LOC                CRISIL A1      95      Reaffirmed
R. C. Enterprise                        Packing Credit     CRISIL A4+     168     Reaffirmed
Salasar Yarns Pvt Ltd                   BG                 CRISIL A4+     5       Assigned
Shrimati Katori Devi Garg Shiksha SamitiOverdraft          CRISIL A4      1.5     Assigned
Siddhi Vinayak Knots and Prints Pvt Ltd BG                 CRISIL A2      20.7    Assigned
St. Joseph's Educational Society        Overdraft          CRISIL A4      16      Reaffirmed
Star Kraft Papers Pvt Ltd               BG                 CRISIL A4+     1       Reaffirmed
Star Pipe Products (India) Pvt Ltd      Loan Equivalent    CRISIL A3      30      Assigned
                                        Risk Limits
Star Pipe Products (India) Pvt Ltd      Foreign Exchange   CRISIL A3      40      Assigned
                                        Forward
Swami Palani Andavar Spinners India Pvt Gooptionally       CRISIL A4      40      Downgraded
Ltd                                     convertible                               from CRISIL
                                        debentures Loan                           A4+
Issuer Not Cooperating
TSA Process Equipments Pvt Ltd          BG                 CRISIL A4+     50      Upgraded from
                                                                                  CRISIL A4

Tulsi Paper Mills Pvt Ltd               BG                 CRISIL A3+     10      Upgraded from
                                                                                  CRISIL A3
Tulsi Paper Mills Pvt Ltd               LOC                CRISIL A3+     190     Upgraded from
                                                                                  CRISIL A3
TVS Srichakra Ltd                       Export Packing     CRISIL A1+     700     Reaffirmed
                                        Credit#
# includes sub-limit of foreign bill discounting to the tune of Rs 50 crore
TVS Srichakra Ltd                       LOC@               CRISIL A1+     1050    Reaffirmed
@includes sub-limit of bank guarantee to the tune of Rs 5.0 crore; includes sub-limit of Letter
of credit (capex) to the tune of Rs 47.7 crore.
TVS Srichakra Ltd                       Loan Equivalent    CRISIL A1+     90      Reaffirmed
                                        Risk Limits
TVS Srichakra Ltd                       Vendor Financing   CRISIL A1+     1500    Reaffirmed
Visual Technologies India Pvt Ltd       BG                 CRISIL A3      70      Assigned
Visual Technologies India Pvt Ltd       Foreign Exchange   CRISIL A3      1       Assigned
                                        Forward
Visual Technologies India Pvt Ltd       LOC                CRISIL A3      30      Assigned

LONG TERM RATINGS:
-------------------
Aarti Drugs Ltd                         CC                 CRISIL A       300     Reaffirmed
Aarti Drugs Ltd                         Proposed WC Fac    CRISIL A       39.9    Reaffirmed
Aarti Drugs Ltd                         TL                 CRISIL A       2510.1  Reaffirmed
Aarti Drugs Ltd                         WC Fac             CRISIL A       6500    Reaffirmed
Abdul Rahiman Engineer & Contractor -   Secured Overdraft  CRISIL B       75      Downgraded
Udupi                                   Fac                                       from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Acme Excellent Management Pvt Ltd       LT Loan            CRISIL BB+     23.2    Upgraded from
                                                                                  CRISIL BB
Acme Excellent Management Pvt Ltd       Overdraft          CRISIL BB+     60      Upgraded from
                                                                                  CRISIL BB
ALMA Motors Pvt Ltd                     Bill Discounting   CRISIL B       50      Downgraded
                                                                                  from 'CRISIL
                                                                                  BB-
Issuer Not Cooperating
ALMA Motors Pvt Ltd                     CC                 CRISIL B       40      Downgraded
                                                                                  from 'CRISIL
                                                                                  BB-
Issuer Not Cooperating
ALMA Motors Pvt Ltd                     TL                 CRISIL B       40      Downgraded
                                                                                  from 'CRISIL
                                                                                  BB-
Issuer Not Cooperating
Anil Steels Pvt Ltd                     CC                 CRISIL B+      150     Reaffirmed
Arihant Metals (Jodhpur)                Proposed LT Bk     -              62      Withdrawal
                                        Loan Fac
Arihant Metals (Jodhpur)                CC                 CRISIL B+      120     Upgraded from
                                                                                  CRISIL B
Arihant Metals (Jodhpur)                Standby Line of    CRISIL B+      18      Upgraded from
                                        Credit                                    CRISIL B
Aroma Realties Ltd                      Proposed LT Bk     CRISIL D       200     Reaffirmed
                                        Loan Fac
Aroma Realties Ltd                      TL                 CRISIL D       150     Reaffirmed
Asia-Pacific Institute of Management (A TL                 CRISIL D       180     Reaffirmed
Unit of All India Asian Educational
Foundation)
Bapashree Infrastructure Pvt Ltd        Proposed LT Bk     CRISIL D       200     Reaffirmed
                                        Loan Fac
Besto Tradelink Pvt Ltd                 CC                 CRISIL D       60      Reaffirmed
Besto Tradelink Pvt Ltd                 Packing Credit     CRISIL D       30      Reaffirmed
Besto Tradelink Pvt Ltd                 Proposed LT Bk     CRISIL D       110     Reaffirmed
                                        Loan Fac
BIC Chemicals and Packagings Pvt Ltd    CC                 CRISIL B+      40      Upgraded from
                                                                                  CRISIL B
Brindavan Agro Industries Pvt Ltd       CC                 CRISIL A-      300     Reaffirmed
Brindavan Agro Industries Pvt Ltd       Proposed LT Bk     CRISIL A-      694.1   Reaffirmed
                                        Loan Fac
Brindavan Agro Industries Pvt Ltd       TL                 CRISIL A-      15.9    Reaffirmed
C.P. Exports                            CC/ Overdraft Fac  CRISIL BB-     180     Upgraded from
                                                                                  CRISIL B+
C.P. Exports                            LT Loan            CRISIL BB-     20      Upgraded from
                                                                                  CRISIL B+
C.P. Exports                            Proposed LT Bk     CRISIL BB-     30      Upgraded from
                                        Loan Fac                                  CRISIL B+
Chavan Automobiles                      CC                 CRISIL BB-     72.5    Reaffirmed
Chenab Impex Pvt Ltd                    CC                 CRISIL B       30      Downgraded
                                                                                  from 'CRISIL
                                                                                  B+
Issuer Not Cooperating
Chenab Impex Pvt Ltd                    Proposed LT Bk     CRISIL B       30.5    Downgraded
                                        Loan Fac                                  from 'CRISIL
                                                                                  B+
Issuer Not Cooperating
Delsea Exports Pvt Ltd                  Packing Credit     CRISIL B       40      Downgraded
                                                                                  from CRISIL B+
DRRK Foods Pvt Ltd                      CC                 CRISIL BB+     30      Upgraded from
                                                                                  CRISIL BB
DRRK Foods Pvt Ltd                      LT Loan            CRISIL BB+     260     Upgraded from
                                                                                  CRISIL BB
Durga Carriers Pvt Ltd                  CC                 CRISIL B       65      Downgraded
                                                                                  from CRISIL B
Issuer Not Cooperating
Eros Motors Pvt Ltd                     CC                 CRISIL B       40      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Issuer Not Cooperating
Eros Motors Pvt Ltd                     Inventory Funding  CRISIL B       140     Downgraded
                                        Fac                                       from CRISIL
                                                                                  BB+
Issuer Not Cooperating
Eros Motors Pvt Ltd                     LT Loan            CRISIL B       17.1    Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Issuer Not Cooperating
Fabtech Technologies International Ltd  CC                 CRISIL BBB+    150     Upgraded from
                                                                                  CRISIL BBB
Fabtech Technologies International Ltd  Corporate Loan     CRISIL BBB+    50      Upgraded from
                                                                                  CRISIL BBB
Fabtech Technologies International Ltd  Proposed LT Bk     CRISIL BBB+    10      Upgraded from
                                        Loan Fac                                  CRISIL BBB
Geomax Mines & Minerals Pvt Ltd         CC                 CRISIL B       150     Reaffirmed
Hari Darshan Exports Pvt Ltd            Export Packing     CRISIL BBB     200     Reaffirmed
                                        Credit
Hari Darshan Exports Pvt Ltd            Post Shipment      CRISIL BBB     800     Reaffirmed
                                        Credit
Hari Darshan Exports Pvt Ltd            Proposed LT Bk     CRISIL BBB     100     Reaffirmed
                                        Loan Fac
Haseeb Pharmaceuticals Pvt Ltd          CC                 CRISIL B       60      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Haseeb Pharmaceuticals Pvt Ltd          Foreign LOC        CRISIL B       17.5    Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Haseeb Pharmaceuticals Pvt Ltd          Proposed LT Bk     CRISIL B       24.5    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Haseeb Pharmaceuticals Pvt Ltd          TL                 CRISIL B       53      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
J. S. Auto Pvt Ltd                      CC                 CRISIL BB      100     Reaffirmed
J. S. Auto Pvt Ltd                      Proposed LT Bk     CRISIL BB      98      Reaffirmed
                                        Loan Fac
J. S. Auto Pvt Ltd                      Standby Line of    CRISIL BB      13.5    Reaffirmed
                                        Credit
J. S. Auto Pvt Ltd                      TL                 CRISIL BB      40      Reaffirmed
J. S. Fourwheel Motors Pvt Ltd          CC                 CRISIL BBB+    170     Reaffirmed
J. S. Fourwheel Motors Pvt Ltd          Proposed LT Bk     CRISIL BBB+    282.5   Reaffirmed
                                        Loan Fac
J. S. Fourwheel Motors Pvt Ltd          Rupee TL           CRISIL BBB+    30      Reaffirmed
Jayaho Agri Ventures Pvt Ltd            CC                 CRISIL D       120     Reaffirmed
Jyoti Polyvinyl Ltd                     CC                 CRISIL BB      10      Upgraded from
                                                                                  CRISIL BB-
Jyoti Vinyl Ltd                         CC                 CRISIL BB      10      Reaffirmed
Kanpur Plastipack Ltd                   CC                 CRISIL BBB+    40      Reaffirmed
Kanpur Plastipack Ltd                   Electronic Dealer  CRISIL BBB+    40      Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Kanpur Plastipack Ltd                   Export Packing     CRISIL BBB+    235     Reaffirmed
                                        Credit
Kanpur Plastipack Ltd                   Proposed TL        CRISIL BBB+    86      Reaffirmed
Kanpur Plastipack Ltd                   Standby Line of    CRISIL BBB+    100     Reaffirmed
                                        Credit
Kanpur Plastipack Ltd                   TL                 CRISIL BBB+    213     Reaffirmed
Katni Realty Pvt Ltd                    TL                 CRISIL B       75      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Kishori Industries                      CC                 CRISIL B       150     Reaffirmed
Kothari Fermentation And Biochem Ltd    CC                 CRISIL BB+     75      Reaffirmed
Kothari Fermentation And Biochem Ltd    Proposed LT Bk     CRISIL BB+     79.5    Reaffirmed
                                        Loan Fac
Kothari Fermentation And Biochem Ltd    TL                 CRISIL BB+     127     Reaffirmed
Lala Nemi Chand Educational Trust       TL                 CRISIL B-      240     Upgraded from
                                                                                  CRISIL D
Laxmi Industrial Corporation            CC                 CRISIL BB+     140     Upgraded from
                                                                                  CRISIL BB
Laxmi Industrial Corporation            LT Loan            CRISIL BB+     15      Upgraded from
                                                                                  CRISIL BB
Laxmi Industrial Corporation            Standby Line of    CRISIL BB+     28      Upgraded from
                                        Credit                                    CRISIL BB
Liners India Ltd                        CC                 CRISIL B-      125     Assigned
Liners India Ltd                        Proposed LT Bk     CRISIL B-      25      Assigned
                                        Loan Fac
Madhuban Trade Steels Pvt Ltd           CC                 CRISIL BBB+    775     Upgraded from
                                                                                  CRISIL BBB
Madhuban Trade Steels Pvt Ltd           Proposed CC Limit  CRISIL BBB+    135     Upgraded from
                                                                                  CRISIL BBB
MAG Solvics Pvt Ltd                     CC                 CRISIL BB-     35      Reaffirmed
MAG Solvics Pvt Ltd                     Proposed WC Fac    CRISIL BB-     5.3     Reaffirmed
MAG Solvics Pvt Ltd                     TL                 CRISIL BB-     27.5    Reaffirmed
MTC Business Pvt Ltd                    CC                 CRISIL A-      565     Upgraded from
                                                                                  CRISIL BBB+
MTC Business Pvt Ltd                    Standby LOC        CRISIL A-      800     Upgraded from
                                                                                  CRISIL BBB+
Naga Sindhu Spinning and Ginning Mills  CC                 CRISIL D       100     Reaffirmed
Pvt Ltd
Naga Sindhu Spinning and Ginning Mills  Proposed CC Limit  CRISIL D       20.6    Reaffirmed
Pvt Ltd
Naga Sindhu Spinning and Ginning Mills  TL                 CRISIL D       144.5   Reaffirmed
Pvt Ltd
Neerakkal Latex Pvt Ltd                 CC                 CRISIL B       150     Reaffirmed
Nithya Packaging Pvt Ltd                CC                 CRISIL BB      394     Reaffirmed
Nithya Packaging Pvt Ltd                LT Loan            CRISIL BB      364     Reaffirmed
Odhav Met Trade Pvt. Ltd.               CC                 CRISIL B       100     Reaffirmed
Padmavathi Hospitality & Facilities     Secured Overdraft  CRISIL BBB-    200     Reaffirmed
Management Service                      Fac
Pegasus Farmaco India Pvt Ltd           CC                 CRISIL BB+     110     Assigned
Pillai and Sons Motor Company           CC                 CRISIL BBB-    30      Reaffirmed
Pillai and Sons Motor Company           Inventory Funding  CRISIL BBB-    110     Reaffirmed
                                        Fac
Pillai and Sons Motor Company           TL                 CRISIL BBB-    10      Reaffirmed
PPAP Automotive Ltd                     CC                 CRISIL A+      610     Upgraded from
                                                                                  CRISIL A
PPAP Automotive Ltd                     Proposed LT Bk     CRISIL A+      216.5   Upgraded from
                                        Loan Fac                                  CRISIL A
PPAP Automotive Ltd                     TL                 CRISIL A+      267.5   Upgraded from
                                                                                  CRISIL A
Prashanth Poultry Pvt Ltd               CC                 CRISIL D       44.5    Reaffirmed
Prashanth Poultry Pvt Ltd               LT Loan            CRISIL D       107.7   Reaffirmed
Prashanth Poultry Pvt Ltd               Proposed CC Limit  CRISIL D       30      Reaffirmed
Prashanth Poultry Pvt Ltd               Proposed LT Bk     CRISIL D       7.8     Reaffirmed
                                        Loan Fac
Prime Technoplast Pvt Ltd               CC                 CRISIL D       500     Reaffirmed
R. C. Enterprise                        Proposed LT Bk     CRISIL BB+     108     Upgraded from
                                        Loan Fac                                  CRISIL BB
R. C. Enterprise                        Standby Line of    CRISIL BB+     24      Upgraded from
                                        Credit                                    CRISIL BB
R.R. Dwellings Pvt Ltd                  TL                 CRISIL D       180     Reaffirmed
Rajender Prasad Pramod Kumar Jain       Foreign LOC        CRISIL B       180     Reaffirmed
Rajender Prasad Pramod Kumar Jain       Secured Overdraft  CRISIL B       15      Assigned
                                        Fac
Ramabhadra Industries Pvt Ltd           CC                 CRISIL BBB-    360     Reaffirmed
Ramabhadra Industries Pvt Ltd           Key CC             CRISIL BBB-    150     Reaffirmed
Ramabhadra Industries Pvt Ltd           LT Loan            CRISIL BBB-    323.7   Reaffirmed
Rutuja Industries                       CC                 CRISIL B       160     Reaffirmed
Salasar Yarns Pvt Ltd                   TL                 CRISIL BB+     132.5   Assigned
Salasar Yarns Pvt Ltd                   CC                 CRISIL BB+     100     Assigned
Sarthav Infrastructure Pvt Ltd          TL                 CRISIL D       200     Reaffirmed
Issuer Not Cooperating
Shanti Niketan Trust                    Overdraft          CRISIL D       6.5     Reaffirmed
Shanti Niketan Trust                    TL                 CRISIL D       65.3    Reaffirmed
Shree Radhey Krishna Ispat              Electronic Dealer  CRISIL BB-     100     Upgraded from
                                        Financing                                 CRISIL B+
                                        Scheme(e-DFS)
Shree Rajmoti Industries                CC                 CRISIL D       600     Reaffirmed
Shree Rajmoti Industries                Pledge Loan        CRISIL D       250     Reaffirmed
Shri Rutuja Industries                  CC                 CRISIL B       90      Reaffirmed
Shri Rutuja Industries                  Proposed LT Bk     CRISIL B       10      Reaffirmed
                                        Loan Fac
Shrimati Katori Devi Garg Shiksha SamitiTL                 CRISIL B-      92.7    Assigned
Shrimati Katori Devi Garg Shiksha SamitiProposed LT Bk     CRISIL B-      0.8     Assigned
                                        Loan Fac
Siddhi Vinayak Knots and Prints Pvt Ltd LT Loan            CRISIL BBB+    640     Assigned
Siddhi Vinayak Knots and Prints Pvt Ltd CC                 CRISIL BBB+    1000    Assigned
Sim Diam Pvt Ltd                        Packing Credit     CRISIL BBB-    658     Reaffirmed
Sim Diam Pvt Ltd                        Post Shipment      CRISIL BBB-    872     Reaffirmed
                                        Credit
Sim Diam Pvt Ltd                        Proposed LT Bk     CRISIL BBB-    70      Assigned
                                        Loan Fac
Siyaram Impex Pvt Ltd                   CC                 CRISIL B-      80      Reaffirmed
Siyaram Impex Pvt Ltd                   Proposed LT Bk     CRISIL B-      9.1     Reaffirmed
                                        Loan Fac
SJP Infracon Ltd                        TL                 CRISIL D       250     Reaffirmed
Spring Merchandisers Pvt Ltd            CC                 CRISIL D       45      Reaffirmed
Spring Merchandisers Pvt Ltd            Inland/Import LOC  CRISIL D       65      Reaffirmed
Sri Nangali Agro Tech Pvt Ltd           CC                 CRISIL D       220     Reaffirmed
Sri Nangali Rice Mills Pvt Ltd          CC                 CRISIL D       540     Reaffirmed
Sri Nangali Rice Mills Pvt Ltd          TL                 CRISIL D       40      Reaffirmed
St. Joseph's Educational Society        LT Loan            CRISIL B       70.3    Downgraded
                                                                                  from CRISIL B+
St. Joseph's Educational Society        Proposed WC Fac    CRISIL B       13.7    Downgraded
                                                                                  from CRISIL B+
Star Kraft Papers Pvt Ltd               CC                 CRISIL BB-     75      Reaffirmed
Star Kraft Papers Pvt Ltd               TL                 CRISIL BB-     14      Reaffirmed
Star Pipe Products (India) Pvt Ltd      Export Packing     CRISIL BBB-    95      Assigned
                                        Credit
Swami Palani Andavar Spinners India Pvt LT Loan            CRISIL B       8       Downgraded
Ltd                                                                               from CRISIL BB
Issuer Not Cooperating
Swami Palani Andavar Spinners India Pvt Overdraft          CRISIL B       70      Downgraded
Ltd                                                                               from CRISIL BB
Issuer Not Cooperating
T.K.Gurusamy Nadar And Sons Sri         CC                 CRISIL B       73      Downgraded
Koodalingam Pattu Centre Pvt Ltd                                                  from CRISIL B+
Issuer Not Cooperating
Total Packaging Services                CC                 CRISIL BB+     220     Downgraded
                                                                                  from 'CRISIL
                                                                                  BBB-
Issuer Not Cooperating
Total Packaging Services                Proposed LT Bk     CRISIL BB+     7.2     Downgraded
                                        Loan Fac                                  from 'CRISIL
                                                                                  BBB-
Issuer Not Cooperating
Total Packaging Services                Rupee TL           CRISIL BB+     72.8    Downgraded
                                                                                  from 'CRISIL
                                                                                  BBB-
Issuer Not Cooperating
TSA Process Equipments Pvt Ltd          CC                 CRISIL BB+     80      Upgraded from
                                                                                  CRISIL B
Tulsi Paper Mills Pvt Ltd               CC                 CRISIL BBB     180     Upgraded from
                                                                                  CRISIL BBB-
Tulsi Paper Mills Pvt Ltd               Proposed LT Bk     CRISIL BBB     0.5     Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Tulsi Paper Mills Pvt Ltd               TL                 CRISIL BBB     249.5   Upgraded from
                                                                                  CRISIL BBB-
TVS Srichakra Ltd                       CC*                CRISIL AA-     1000    Reaffirmed
* includes sub-limit of Inland bill discounting to the tune of Rs 100 crore; 
TVS Srichakra Ltd                       LT Loan            CRISIL AA-     2740    Reaffirmed
TVS Srichakra Ltd                       Proposed LT Bk     CRISIL AA-     120     Reaffirmed
                                        Loan Fac
Ulhas Jewellers Pvt Ltd                 CC                 CRISIL BB      160     Upgraded from
                                                                                  CRISIL BB-
Ulhas Jewellers Pvt Ltd                 Proposed LT Bk     CRISIL BB      15.7    Upgraded from
                                        Loan Fac                                  CRISIL BB-
Ulhas Jewellers Pvt Ltd                 TL                 CRISIL BB      19.7    Upgraded from
                                                                                  CRISIL BB-
Vidya International Charitable Trust    Proposed LT Bk     -              120     Withdrawal
                                        Loan Fac
Vidya International Charitable Trust    CC                 CRISIL BB      60      Reaffirmed
Vidya International Charitable Trust    LT Loan            CRISIL BB      220     Reaffirmed
Visual Technologies India Pvt Ltd       CC                 CRISIL BBB-    70      Assigned
Visual Technologies India Pvt Ltd       Proposed LT Bk     CRISIL BBB-    49      Assigned
                                        Loan Fac
Vohra Foods Pvt Ltd                     CC                 CRISIL B+      110     Reaffirmed
Vohra Foods Pvt Ltd                     Proposed LT Bk     CRISIL B+      15      Reaffirmed
                                        Loan Fac
--------------------------------------------------------------------------------------------
$: 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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