April 23, 2019 / 5:12 AM / 10 months ago

CRISIL ratings for Indian debt instruments-Apr 23

    Apr 23 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 22, 2019.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
70 Microns                              BG                 CRISIL A4      6.5
Issuer Not Cooperating; Rating Migrated
A. B. Kanisha Timbers                   LOC                CRISIL A4      42.5
Issuer Not Cooperating; Rating Migrated
ABC Chemical Exports Pvt Ltd            BG                 CRISIL A4+     2.5
Issuer Not Cooperating; Rating Migrated
ABC Fruits                              LOC                CRISIL A4+     20      Reaffirmed
ABC Fruits                              Proposed ST Bk     CRISIL A4+     10      Assigned
                                        Loan Fac
Aditya Auto Products and Engineering    LOC                CRISIL A2      130     Reaffirmed
India Pvt Ltd
Aditya Auto Products and Engineering    Packing Credit     CRISIL A2      238.5   Reaffirmed
India Pvt Ltd
Aditya Auto Products and Engineering    Vendor Financing   CRISIL A2      70      Reaffirmed
India Pvt Ltd
Akshar Elecinfra Pvt Ltd                BG^                CRISIL A4+     120
Issuer Not Cooperating; Rating Migrated; ^ Letter of credit facility to the extent of Rs.3 crore
as a sub-limit of bank guarantee facility
Akshar Elecinfra Pvt Ltd                LOC                CRISIL A4+     10
Issuer Not Cooperating; Rating Migrated
Akshar Elecinfra Pvt Ltd                Proposed ST Bk     CRISIL A4+     35
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Bhanwarlal Jhanwar and Sons             BG                 CRISIL A4+     35
Issuer Not Cooperating; Rating Migrated
CMS Associates Pvt Ltd                  BG                 CRISIL A4+     3
Issuer Not Cooperating; Rating Migrated
CMS Associates Pvt Ltd                  Inland/Import LOC  CRISIL A4+     5
Issuer Not Cooperating; Rating Migrated
CMS Associates Pvt Ltd                  Packing Credit     CRISIL A4+     30
Issuer Not Cooperating; Rating Migrated
CMS Associates Pvt Ltd                  Proposed NFBL      CRISIL A4+     12
Issuer Not Cooperating; Rating Migrated
Creative Tours And Travel (India) Pvt   BG                 CRISIL A4+     70
Ltd
Issuer Not Cooperating; Rating Migrated
Crown Corporation Pvt Ltd               BG                 CRISIL A4      91
Issuer Not Cooperating; Rating Migrated
Crown Corporation Pvt Ltd               LOC                CRISIL A4      115
Issuer Not Cooperating; Rating Migrated
CTM Technical Textiles Ltd              BG                 CRISIL A4+     32      Reaffirmed
CTM Technical Textiles Ltd              LOC                CRISIL A4+     3       Reaffirmed
D. S. Developers                        Overdraft          CRISIL A4      150
Issuer Not Cooperating; Rating Migrated
Euroasia Trans Continental              Import LOC Limit   CRISIL A4+     5       Assigned
Golden International                    Proposed ST Bk     CRISIL A4+     2
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
GTPL Hathway Ltd                        BG                 CRISIL A2+     2260    Reaffirmed
Continues on 'Rating Watch with Positive Implications'
GTPL Hathway Ltd                        Factoring/         CRISIL A2+     200     Reaffirmed
                                        Forfaiting
Continues on 'Rating Watch with Positive Implications'
GTPL Hathway Ltd                        ST Loan            CRISIL A2+     300     Assigned
Continues on 'Rating Watch with Positive Implications'
Harcharan Dass Gupta                    BG                 CRISIL A4+     70
Issuer Not Cooperating; Rating Migrated
J.N.Shetty                              BG                 CRISIL A4+     100
Issuer Not Cooperating
Jai Jagdish Ship Breakers Pvt Ltd       LOC                CRISIL A4+     950
Issuer Not Cooperating; Rating Migrated
Jayshri Impex                           Packing Credit     CRISIL A4+     200
Issuer Not Cooperating; Rating Migrated
Jin Plast India Ltd                     LOC                CRISIL A4      10
Issuer Not Cooperating; Rating Migrated
K.P. Abraham                            BG                 CRISIL A4      20      Reaffirmed
Kay Kay Trading Co.                     BG                 CRISIL A4+     50
Issuer Not Cooperating
Kehems Technologies Pvt Ltd             BG                 CRISIL A4      15
Issuer Not Cooperating; Rating Migrated
Kotak Mahindra Investments Ltd          CP Programme(IPO   CRISIL A1+     20000   Reaffirmed
                                        Financing)
Kotak Mahindra Investments Ltd          CP                 CRISIL A1+     70000   Reaffirmed
(Enhanced from Rs.5500 Crore)
Neo Essel Dispoware Pvt Ltd             LOC                CRISIL A4+     50      Reaffirmed
Neo Metaliks Ltd                        LOC                CRISIL A2      1150    Reaffirmed
Nice Ceramic Pvt Ltd                    BG                 CRISIL A4+     32      Reaffirmed
Rama Pulp and Papers Ltd                BG                 CRISIL A3+     11      Reaffirmed
Continues on 'Rating Watch with Developing Implications'
Remmy Substrates India Pvt Ltd          Packing Credit     CRISIL A4+     200     Assigned
S M Sheladiya                           BG                 CRISIL A4+     42.5
Issuer Not Cooperating; Rating Migrated
Shah Paperplast Industries Ltd          BG                 CRISIL A4+     3
Issuer Not Cooperating; Rating Migrated

Shah Paperplast Industries Ltd          Inland/Import LOC  CRISIL A4+     17.5
Issuer Not Cooperating; Rating Migrated
Shah Paperplast Industries Ltd          Packing Credit in  CRISIL A4+     40
                                        Foreign Currency
Issuer Not Cooperating; Rating Migrated
Siva Vaishnavi Marine Pvt Ltd           Packing Credit     CRISIL A4      100     Reaffirmed
Sunrise Industries India Ltd            BG                 CRISIL A4      40
Issuer Not Cooperating; Rating Migrated
Sunrise Industries India Ltd            Packing Credit     CRISIL A4      50
Issuer Not Cooperating; Rating Migrated
TAQA Neyveli Power Company Pvt Ltd      BG**               CRISIL A1+     500     Reaffirmed
**Interchangeable with letter of credit
TAQA Neyveli Power Company Pvt Ltd      Proposed ST Bk     CRISIL A1+     250     Reaffirmed
                                        Loan Fac
TAQA Neyveli Power Company Pvt Ltd      CP                 CRISIL A1+     500     Reaffirmed
Technomark Engineers India Pvt Ltd      BG                 CRISIL A4      20
Issuer Not Cooperating; Rating Migrated
Technomark Engineers India Pvt Ltd      Overdraft          CRISIL A4      20
Issuer Not Cooperating; Rating Migrated
Transrail Lighting Ltd                  Non-FBL            CRISIL A2+     33999.5
Upgraded from 'CRISIL A2'
Turbo Engineers (Cbe)                   BG                 CRISIL A4      40      Reaffirmed
Two Brothers Holding Ltd                Packing Credit in  CRISIL A4+     155
                                        Foreign Currency
Issuer Not Cooperating; Rating Migrated
Vadhi Steels Pvt Ltd                    BG                 CRISIL A4      2.5
Issuer Not Cooperating; Rating Migrated
Veevee Controls Pvt Ltd                 BG                 CRISIL A3+     95      Reaffirmed
Viswaat Chemicals Ltd                   BG                 CRISIL A3+     30      Reaffirmed
Viswaat Chemicals Ltd                   LOC                CRISIL A3+     290     Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Shushrusha Citizens Co-Op. Hospital Ltd.FD                 FB             150
Migrated from FB+ issuer not cooperating

LONG TERM RATINGS:
-------------------
70 Microns                              CC                 CRISIL B+      50
Issuer Not Cooperating; Rating Migrated
70 Microns                              Proposed LT Bk     CRISIL B+      8.5
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
70 Microns                              TL                 CRISIL B+      55
Issuer Not Cooperating; Rating Migrated
A. B. Kanisha Timbers                   CC                 CRISIL B+      12.5
Issuer Not Cooperating; Rating Migrated
A. B. Kanisha Timbers                   Proposed LT Bk     CRISIL B+      12.9
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
ABC Chemical Exports Pvt Ltd            Foreign Bill       CRISIL BB      50
                                        Purchase
Issuer Not Cooperating; Rating Migrated
ABC Chemical Exports Pvt Ltd            Foreign LOC        CRISIL BB      120
Issuer Not Cooperating; Rating Migrated
ABC Fruits                              CC                 CRISIL BB      30      Reaffirmed
ABC Fruits                              Export Packing     CRISIL BB      80      Reaffirmed
                                        Credit
ABC Fruits                              LT Loan            CRISIL BB      80      Reaffirmed
ABC Fruits                              Proposed LT Bk     CRISIL BB      34.9    Reaffirmed
                                        Loan Fac
ABC Fruits                              Proposed WC Fac    CRISIL BB      45.1    Assigned
Aditya Auto Products and Engineering    Bill Discounting   CRISIL BBB+    56.5    Reaffirmed
India Pvt Ltd
Aditya Auto Products and Engineering    CC                 CRISIL BBB+    365     Reaffirmed
India Pvt Ltd
Aditya Auto Products and Engineering    Corporate Loan     CRISIL BBB+    150     Reaffirmed
India Pvt Ltd
Aditya Auto Products and Engineering    Export Packing     CRISIL BBB+    60      Reaffirmed
India Pvt Ltd                           Credit
Akshar Elecinfra Pvt Ltd                CC                 CRISIL BB+     20
Issuer Not Cooperating; Rating Migrated
Akshar Elecinfra Pvt Ltd                TL                 CRISIL BB+     15
Issuer Not Cooperating; Rating Migrated
Akshay Constructions                    CC                 CRISIL BB-     60
Migrated from 'CRISIL BB- issuer not cooperating'
Akshay Constructions                    LT Loan            CRISIL BB-     90
Migrated from 'CRISIL BB- issuer not cooperating'
Anupam Ceramics                         CC                 CRISIL BB      49      Reaffirmed
Anupam Ceramics                         TL                 CRISIL BB      5       Reaffirmed
Aruppukottai Shri Ramalinga Spinners    CC                 CRISIL BB+     230     Assigned
Pvt Ltd
Assam Timber Store                      CC                 -              17.5    Withdrawn
Issuer Not Cooperating
Assam Timber Store                      LOC                -              50      Withdrawn
Issuer Not Cooperating
Assam Timber Store                      Proposed LT Bk     -              32.5    Withdrawn
                                        Loan Fac
Issuer Not Cooperating
B. B. Products                          TL                 CRISIL B       60
Issuer Not Cooperating
Baba Naga Rice and General Mills        CC                 CRISIL B       80
Issuer Not Cooperating; Rating Migrated
Baba Naga Rice and General Mills        Proposed WC Fac    CRISIL B       40
Issuer Not Cooperating; Rating Migrated
Bapasitaram Ceramic                     CC                 CRISIL B       25
Issuer Not Cooperating; Rating Migrated
Bapasitaram Ceramic                     Proposed LT Bk     CRISIL B       10
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Bapasitaram Ceramic                     TL                 CRISIL B       20
Issuer Not Cooperating; Rating Migrated
Bhanwarlal Jhanwar and Sons             Foreign LOC^       CRISIL BB+     165
Issuer Not Cooperating; Rating Migrated; ^Sublimit for Cash Credit of Rs.5 Crore
Bhaskar Urade and Brothers              CC                 CRISIL BB-     65      Reaffirmed
BNP Paribas Asset Management India Pvt  LT Rating          CRISIL BB+
Ltd
ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB+'
CMS Associates Pvt Ltd                  Bill Discounting   CRISIL BB-     40
Issuer Not Cooperating; Rating Migrated
Creative Tours And Travel (India) Pvt   CC                 CRISIL BB-     200
Ltd
Issuer Not Cooperating; Rating Migrated
Crown Corporation Pvt Ltd               Proposed Overdraft CRISIL B       34
                                        Fac
Issuer Not Cooperating; Rating Migrated
CSJ Infrastructure Pvt Ltd              NCD*               CRISIL A-      823     Reaffirmed
*Transferred from Dawn Retail Pvt. Ltd to CSJ Infrastructure Pvt. Ltd upon amalgamation of the
former with latter with effect from August 1, 2017.
CSJ Infrastructure Pvt Ltd              Lease Rental       CRISIL A-      13313.3 Reaffirmed
                                        Discounting Loan
CTM Technical Textiles Ltd              CC                 CRISIL BB      50      Reaffirmed
CTM Technical Textiles Ltd              LT Loan            CRISIL BB      21.6    Reaffirmed
CTM Technical Textiles Ltd              Proposed LT Bk     CRISIL BB      16.1    Reaffirmed
                                        Loan Fac
Dawn Retail Pvt Ltd                     NCD                CRISIL A-      823     Withdrawn
Dhana Jewel Craft                       CC                 CRISIL B+      35      Reaffirmed
Euroasia Trans Continental              Proposed WC Fac    CRISIL BB-     20      Assigned
Euroasia Trans Continental              Foreign Bill       CRISIL BB-     75      Assigned
                                        Purchase
Galaxy Square Pvt Ltd                   Overdraft          -              3010    Withdrawn
Ganpati Ispat                           CC                 CRISIL B+      85
Issuer Not Cooperating
Garhwal Jems And Jewellery Pvt Ltd      CC                 CRISIL B       10
Issuer Not Cooperating; Rating Migrated
Garhwal Jems And Jewellery Pvt Ltd      LT Loan            CRISIL B       50
Issuer Not Cooperating; Rating Migrated
Ghosh Varities                          Proposed FB Bk     CRISIL B       50      Assigned
                                        Limits
Golconda Textiles Pvt Ltd               BG                 CRISIL D       5.5
Issuer Not Cooperating; Rating Migrated
Golconda Textiles Pvt Ltd               CC                 CRISIL D       110
Issuer Not Cooperating; Rating Migrated
Golconda Textiles Pvt Ltd               Proposed LT Bk     CRISIL D       4.5
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Golconda Textiles Pvt Ltd               TL                 CRISIL D       40
Issuer Not Cooperating; Rating Migrated
Golden International                    CC                 CRISIL BB      98
Issuer Not Cooperating; Rating Migrated
Granite Zone India Pvt Ltd              CC                 CRISIL B+      20
Issuer Not Cooperating; Rating Migrated
Granite Zone India Pvt Ltd              LT Loan            CRISIL B+      40
Issuer Not Cooperating; Rating Migrated
Groversons Apparel Pvt Ltd              CC                 CRISIL BB+     75
Issuer Not Cooperating; Rating Migrated
Groversons Apparel Pvt Ltd              Proposed CC Limit  CRISIL BB+     38.6
Issuer Not Cooperating; Rating Migrated
Groversons Apparel Pvt Ltd              TL                 CRISIL BB+     6.4
Issuer Not Cooperating; Rating Migrated
GTPL Hathway Ltd                        CC/ Overdraft Fac* CRISIL A-      360     Reaffirmed
Continues on 'Rating Watch with Positive Implications'; *Interchangeable with WCDL
GTPL Hathway Ltd                        CC/ Overdraft Fac  CRISIL A-      200     Reaffirmed
Continues on 'Rating Watch with Positive Implications'
GTPL Hathway Ltd                        LT Loan            CRISIL A-      1648.2  Reaffirmed
Continues on 'Rating Watch with Positive Implications'
GTPL Hathway Ltd                        Proposed LT Bk     CRISIL A-      41.8    Reaffirmed
                                        Loan Fac
Continues on 'Rating Watch with Positive Implications'
Guntakal Municipality                   LT Rating          CRISIL B+
ISSUER NOT COOPERATING; Rating Migrated
H S Mehta Infra Pvt Ltd                 Rating Advisory    -
Provided ‘No Default Statement’
Harcharan Dass Gupta                    CC                 CRISIL BB-     35
Issuer Not Cooperating; Rating Migrated
J.N.Shetty                              CC                 CRISIL BB      150
Issuer Not Cooperating
J.V. Steel Tubes                        CC                 CRISIL B       50
Issuer Not Cooperating
J.V. Steel Tubes                        CC - Book Debt     CRISIL B       45
Issuer Not Cooperating
J.V. Steel Tubes                        Overdraft          CRISIL B       25
Issuer Not Cooperating
Jai Jagdish Ship Breakers Pvt Ltd       CC                 CRISIL BB      130
Issuer Not Cooperating; Rating Migrated
Jai Jagdish Ship Breakers Pvt Ltd       Proposed LT Bk     CRISIL BB      19
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Jammu Casting Pvt Ltd                   CC                 CRISIL B+      25      Assigned
Jasamrat Cotgin Pvt Ltd                 CC                 CRISIL B       70
Issuer Not Cooperating
Jasamrat Cotgin Pvt Ltd                 TL                 CRISIL B       34.5
Issuer Not Cooperating
Jayshri Impex                           Proposed LT Bk     CRISIL BB      37.5
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Jayshri Impex                           Secured Overdraft  CRISIL BB      12.5
                                        against term
                                        deposits
Issuer Not Cooperating; Rating Migrated
Jewel World                             CC                 CRISIL B+      65
Issuer Not Cooperating; Rating Migrated
Jewel World                             Proposed LT Bk     CRISIL B+      10
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Jin Plast India Ltd                     CC                 CRISIL B-      50
Issuer Not Cooperating; Rating Migrated
Jin Plast India Ltd                     LT Loan            CRISIL B-      20
Issuer Not Cooperating; Rating Migrated
K.P. Abraham                            CC                 CRISIL B+      40      Reaffirmed
Kadapa Municipal Corporation            LT Rating          CRISIL B
issuer not cooperating; Rating Migrated
Karimkuttiyil Constructions & DevelopersCC                 CRISIL B       60
Issuer Not Cooperating
Kay Kay Trading Co.                     CC                 CRISIL BB-     70
Issuer Not Cooperating
Kay Kay Trading Co.                     Proposed LT Bk     CRISIL BB-     80
                                        Loan Fac
Issuer Not Cooperating
Keerthi Enterprises                     WC Demand Loan     CRISIL BBB     35      Assigned
Keerthi Enterprises                     CC                 CRISIL BBB     90      Assigned
Keerthi Enterprises                     Proposed LT Bk     CRISIL BBB     25      Assigned
                                        Loan Fac
Kehems Technologies Pvt Ltd             CC                 CRISIL B+      80
Issuer Not Cooperating; Rating Migrated
Kitchen Foods                           CC                 CRISIL B+      90      Withdrawn
Rating Reaffirmed and Withdrawn
Kitchen Foods                           Rupee TL           CRISIL B+      30      Withdrawn
Rating Reaffirmed and Withdrawn
Kotak Mahindra Investments Ltd          Proposed LT Bk     CRISIL AAA     4500    Reaffirmed
                                        Loan Fac*
*Interchangeable with short term facilities
Kotak Mahindra Investments Ltd          WC Demand Loan     CRISIL AAA     10500   Reaffirmed
Kotak Mahindra Investments Ltd          NCD                CRISIL AAA     20000   Assigned
Kotak Mahindra Investments Ltd          NCDs               CRISIL AAA     13657   Withdrawn
Kotak Mahindra Investments Ltd          NCDs               CRISIL AAA     38343   Reaffirmed
Kotak Mahindra Investments Ltd          Subordinated Debt  CRISIL AAA     2000    Reaffirmed
                                        Issue
Kotak Mahindra Investments Ltd          LT Principal       CRISIL PP-MLD  5000    Reaffirmed
                                        Protected Market   AAAr
                                        Linked Debentures
M.K.Pine Wood LLP                       Foreign LOC        CRISIL BB      100     Assigned
M.K.Pine Wood LLP                       Open CC            CRISIL BB      30      Assigned
Momai Foods Pvt Ltd                     TL                 CRISIL B+      49.6    Assigned
Momai Foods Pvt Ltd                     CC                 CRISIL B+      30      Assigned
Momai Foods Pvt Ltd                     Proposed LT Bk     CRISIL B+      6.8     Assigned
                                        Loan Fac
Naveen Hotels Ltd                       LT Loan            CRISIL BB+     400
Issuer Not Cooperating
Neo Essel Dispoware Pvt Ltd             Proposed FB Bk     -              383     Withdrawn
                                        Limits
Neo Essel Dispoware Pvt Ltd             CC                 CRISIL BB      50      Reaffirmed
Neo Essel Dispoware Pvt Ltd             TL                 CRISIL BB      67      Reaffirmed
Neo Metaliks Ltd                        CC                 CRISIL BBB+    586.5   Reaffirmed
Outlook revised from 'Stable' and rating reaffirmed
Neo Metaliks Ltd                        Proposed FB Bk     CRISIL BBB+    8.8
                                        Limits
Outlook revised from 'Stable' and rating reaffirmed
Neo Metaliks Ltd                        TL                 CRISIL BBB+    4.7
Outlook revised from 'Stable' and rating reaffirmed
Nice Ceramic Pvt Ltd                    CC                 CRISIL BB-     120     Reaffirmed
Nice Ceramic Pvt Ltd                    LT Loan            CRISIL BB-     187.5   Reaffirmed
Nice Ceramic Pvt Ltd                    Proposed LT Bk     CRISIL BB-     10.5    Reaffirmed
                                        Loan Fac
Northern Arc 2018 MFI Hunza             Series A PTCs      CRISIL A (SO)  2500
(Originator: Asirvad Microfinance Ltd)
Converted from Provisional Rating to Final Rating
P.N. Gawande Ginning Pressing and Oil   CC                 CRISIL BB-     50      Assigned
Mill Pvt Ltd
P.N. Gawande Ginning Pressing and Oil   Rupee TL           CRISIL BB-     30      Assigned
Mill Pvt Ltd
Predomix Technologies Pvt Ltd           Proposed LT Bk     CRISIL B       100     Assigned
                                        Loan Fac
Qubix Business Park Pvt Ltd             Overdraft          CRISIL A+      4070    Withdrawn
Rama Pulp and Papers Ltd                CC*                CRISIL BBB     125     Reaffirmed
Continues on 'Rating Watch with Developing Implications'; *Letter of credit sublimit of Rs 1.50
crore; *Bank guarantee sublimit of Rs 1.50 crore; *Export packaging credit sublimit of Rs 2.00
crore; *Foreign bill discounting sublimit of Rs 1.00 crore; *Letter of undertaking for bank
guarantee sublimit of Rs 3.00 crore; * Full interchangeability among non-fund-based limits
Rama Pulp and Papers Ltd                TL                 CRISIL BBB     16.3    Reaffirmed
Continues on 'Rating Watch with Developing Implications'
S M Sheladiya                           CC                 CRISIL BB      3
Issuer Not Cooperating; Rating Migrated
S M Sheladiya                           Proposed LT Bk     CRISIL BB      14.5
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
S. Pyarelal Ispat Pvt Ltd               CC                 CRISIL BB+     140
Issuer Not Cooperating; Rating Migrated
S. Pyarelal Ispat Pvt Ltd               TL                 CRISIL BB+     52
Issuer Not Cooperating; Rating Migrated
Sai Raghavendra Rice Industries         CC                 CRISIL B+      41.5
Issuer Not Cooperating; Rating Migrated
Sai Raghavendra Rice Industries         LT Loan            CRISIL B+      14.7
Issuer Not Cooperating; Rating Migrated
Sai Raghavendra Rice Industries         Proposed LT Bk     CRISIL B+      18.8
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Sai Raghavendra Rice Industries         SME Credit         CRISIL B+      5
Issuer Not Cooperating; Rating Migrated
Saraswati Gum and Chemicals             CC                 CRISIL B+      60
Issuer Not Cooperating; Rating Migrated
Saraswati Gum and Chemicals             Proposed CC Limit  CRISIL B+      40
Issuer Not Cooperating; Rating Migrated
Shah Paperplast Industries Ltd          CC                 CRISIL BB-     10
Issuer Not Cooperating; Rating Migrated
Shah Paperplast Industries Ltd          Proposed LT Bk     CRISIL BB-     10
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Shah Paperplast Industries Ltd          TL                 CRISIL BB-     37.1
Issuer Not Cooperating; Rating Migrated
Shamshree Lifesciences Ltd              CC                 CRISIL D       100
Issuer Not Cooperating; Rating Migrated
Shamshree Lifesciences Ltd              Corporate Loan     CRISIL D       11.2
Issuer Not Cooperating; Rating Migrated
Shamshree Lifesciences Ltd              LOC                CRISIL D       50
Issuer Not Cooperating; Rating Migrated
Shamshree Lifesciences Ltd              Proposed LT Bk     CRISIL D       13
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Shamshree Lifesciences Ltd              TL                 CRISIL D       112.1
Issuer Not Cooperating; Rating Migrated
Shri Saiprasad Rice Mill                CC                 CRISIL BB-     55      Reaffirmed
Shushrusha Citizens Co-Op. Hospital Ltd.LT Loan            CRISIL B       430
Issuer Not Cooperating
SJ International                        Export Packing     -              70      Withdrawn
                                        Credit
Issuer Not Cooperating
Sri Lakshmi Narayana Rice Mill          CC                 CRISIL B       172.5
Issuer Not Cooperating; Rating Migrated
Staywell Formulation Pvt Ltd            CC                 CRISIL D       70
Issuer Not Cooperating; Rating Migrated
Staywell Formulation Pvt Ltd            Proposed LT Bk     CRISIL D       20
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Staywell Formulation Pvt Ltd            TL                 CRISIL D       30
Issuer Not Cooperating; Rating Migrated
Sunrise Industries India Ltd            CC                 CRISIL B       150
Issuer Not Cooperating; Rating Migrated
Sunrise Industries India Ltd            Proposed LT Bk     CRISIL B       208.9
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Sunrise Industries India Ltd            TL                 CRISIL B       97.5
Issuer Not Cooperating; Rating Migrated
TAQA Neyveli Power Company Pvt Ltd      CC*                CRISIL AA-     500     Reaffirmed
*Interchangeable with working capital demand loan
TAQA Neyveli Power Company Pvt Ltd      Proposed LT Bk     CRISIL AA-     250     Reaffirmed
                                        Loan Fac
Technomark Engineers India Pvt Ltd      Overdraft          CRISIL B       90
Issuer Not Cooperating; Rating Migrated
The Share Macts Ltd                     Proposed LT Bk     CRISIL B+      100     Assigned
                                        Loan Fac
Transrail Lighting Ltd                  CC                 CRISIL A-      2267.4
Upgraded from 'CRISIL BBB+'
Transrail Lighting Ltd                  Proposed LT Bk     CRISIL A-      385.7
                                        Loan Fac
Upgraded from 'CRISIL BBB+'
Transrail Lighting Ltd                  TL                 CRISIL A-      2547.4
Upgraded from 'CRISIL BBB+'
Trinity Touch Pvt Ltd                   CC                 CRISIL BBB     230     Reaffirmed
Trinity Touch Pvt Ltd                   TL                 CRISIL BBB     20      Reaffirmed
Turbo Engineers (Cbe)                   CC                 CRISIL B+      38      Reaffirmed
Turbo Engineers (Cbe)                   TL                 CRISIL B+      2       Reaffirmed
Two Brothers Holding Ltd                Proposed LT Bk     CRISIL BB-     5
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
U.B.Cotton Pvt Ltd                      CC                 CRISIL BBB     70      Assigned
U.B.Cotton Pvt Ltd                      WC Fac             CRISIL BBB     300     Assigned
Ujwal Enterprises (India) Pvt Ltd       CC                 CRISIL BB+     60
Issuer Not Cooperating; Migrated from 'CRISIL BBB-'
Ujwal Enterprises (India) Pvt Ltd       TL                 CRISIL BB+     50
Issuer Not Cooperating; Migrated from 'CRISIL BBB-'
Ultimate Alloys Pvt Ltd                 CC                 CRISIL BB+     50
Issuer Not Cooperating; Rating Migrated
Ultimate Alloys Pvt Ltd                 Export Packing     CRISIL BB+     60
                                        Credit
Issuer Not Cooperating; Rating Migrated
Uttar Pradesh State Bridge Corpn Ltd    Proposed LT Bk     CRISIL BB+     250
                                        Loan Fac
Issuer Not Cooperating
Vadhi Steels Pvt Ltd                    CC                 CRISIL B-      25
Issuer Not Cooperating; Rating Migrated
Vadhi Steels Pvt Ltd                    Proposed LT Bk     CRISIL B-      46
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Vadhi Steels Pvt Ltd                    TL                 CRISIL B-      26.5
Issuer Not Cooperating; Rating Migrated
Varun Fertilizers Pvt Ltd               CC                 CRISIL B+      80
Issuer Not Cooperating
Varun Fertilizers Pvt Ltd               Proposed LT Bk     CRISIL B+      37.5
                                        Loan Fac
Issuer Not Cooperating
Veevee Controls Pvt Ltd                 CC                 CRISIL BBB     20      Reaffirmed
Veevee Controls Pvt Ltd                 Proposed BG        CRISIL BBB     5       Assigned
Vikhroli Corporate Park Pvt Ltd         Lease Rental       -              5500    Withdrawn
                                        Discounting Loan
Viswaat Chemicals Ltd                   CC                 CRISIL BBB     715     Reaffirmed
Outlook revised from 'Stable' and rating reaffirmed
Viswaat Chemicals Ltd                   TL                 CRISIL BBB     436     Reaffirmed
Outlook revised from 'Stable' and rating reaffirmed
Vivriti Drake 12 2018 (Originator:      Series A1 PTCs     CRISIL A (SO)  350
Asirvad Microfinance Ltd)
Converted from Provisional Rating to Final Rating
VIVRITI HELGA 03 2019 (Originator:      Series A1 PTCs     Provisional    499.5
Belstar Investment and Finance Pvt Ltd)                    CRISIL A+ (SO)
Provisional Rating Assigned
Vivriti Rovena 03 2019 (Originator:     Proposed LT Bk     CRISIL B+      10      Assigned
Belstar Investment and Finance Pvt Ltd) Loan Fac
Vivriti Rovena 03 2019 (Originator:     TL                 CRISIL B+      57      Assigned
Belstar Investment and Finance Pvt Ltd)
Vivriti Rovena 03 2019 (Originator:     Series A1 PTCs     Provisional    436.8
Belstar Investment and Finance Pvt Ltd)                    CRISIL AA- (SO)
Provisional Rating Assigned

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$: 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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