April 23, 2020 / 8:12 AM / a month ago

CRISIL ratings for Indian debt instruments-Apr 23

    Apr 23 - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of April 22, 2020.


COMPANY                                INSTRUMENT        RATING      AMOUNT   MOVEMENT
                                                                     (RS.MLN)
------                                 ----------        ------       -----   ---------
SHORT TERM RATINGS:
-------------------
AKS Electricals and Electronics Pvt Ltd LOC              CRISIL A3     230    Reaffirmed
AKS Electricals and Electronics Pvt Ltd Proposed NFBL    CRISIL A3     35     -
Aruna Alloy Steels Pvt Ltd             Foreign Bill      CRISIL A4     140    -
                                       Purchase
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Falcon Glass Palace                    LOC               CRISIL A4     32.5   Reaffirmed
(Issuer Not Cooperating)
Himalayan Packaging Industries Pvt Ltd LOC               CRISIL A4     100    -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Jagran Prakashan Ltd                   BG                CRISIL A1+    250    Reaffirmed
Jagran Prakashan Ltd                   LOC*              CRISIL A1+    500    Reaffirmed
(*Fully interchangeable with bank guarantee)
Jagran Prakashan Ltd                   Proposed WC Fac   CRISIL A1+    350    Assigned
Jagran Prakashan Ltd                   CP                CRISIL A1+    700    Reaffirmed
Karnataka Agro Chemicals               LOC               CRISIL A4     30     -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Lakshmi Infrastructure and Developers  BG                CRISIL A4+    90     -
India Pvt Ltd
(Migrated from CRISIL A4)
Larsen and Toubro Ltd                  CP                CRISIL A1+    160000 Reaffirmed
Maa Kali Alloys Udyog Pvt Ltd          BG                CRISIL A4     5      -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Mitsu Chem Plast Ltd                   BG                CRISIL A3     10     Reaffirmed
Mitsu Chem Plast Ltd                   Foreign Exchange  CRISIL A3     5      Reaffirmed
                                       Forward
Mitsu Chem Plast Ltd                   LOC               CRISIL A3     40     -
Pallava Textiles Pvt Ltd               LOC               CRISIL A1     200    -
(Migrated from CRISIL A3+ ISSUER NOT COOPERATING)
Raja Craft Mills LLP                   BG                CRISIL A4     15     Reaffirmed
(Issuer Not Cooperating)
Ramjee Leathers and Supplies           BG                CRISIL A4+    5      Reaffirmed
Rishi Techtex Ltd                      BG                CRISIL A3     2      Reaffirmed
Rishi Techtex Ltd                      Bill Discounting  CRISIL A3     5      Reaffirmed
                                       under LOC
Sathe Synthetics (Prop. Rakesh Fuels   Foreign           CRISIL A4     3      Reaffirmed
Pvt Ltd)                               Documentary Bills
                                       Purchase
(Issuer Not Cooperating)
Shivans Power & Irrigation Pvt Ltd     Packing Credit    CRISIL A4     1.3    Reaffirmed
(Issuer Not Cooperating)
Shri Ramraja Sarkar Lok Kalyan Trust   Overdraft         CRISIL A4     45     Reaffirmed
(Issuer Not Cooperating)
Sri Cheran Synthetics India Pvt Ltd    LOC               CRISIL A1     200    -
(Migrated from CRISIL A3+ ISSUER NOT COOPERATING)
Sri Luxmi Tulasi Agro Paper Pvt Ltd    BG                CRISIL A3+    9      Reaffirmed
Sri Luxmi Tulasi Agro Paper Pvt Ltd    LOC               CRISIL A3+    180    Reaffirmed
Stalwart Technik Pvt Ltd               Packing Credit    CRISIL A4     50     -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Sumitomo Mitsui Banking Corporation    CDs Programme     CRISIL A1+    5000   Reaffirmed
Sundram Fasteners Ltd                  ST Debt           CRISIL A1+    1000   Reaffirmed
Sundram Fasteners Ltd                  CP                CRISIL A1+    250    Reaffirmed
Svatantra Microfin Pvt Ltd             ST Debt Issue     CRISIL A1+    1000   Reaffirmed
TA Hydraulics Pvt Ltd                  BG                CRISIL A4     10     Reaffirmed
(Issuer Not Cooperating)
TA Hydraulics Pvt Ltd                  Proposed BG       CRISIL A4     20     Reaffirmed
(Issuer Not Cooperating)
Tata Motors Ltd                        Non-FBL           CRISIL A1+    18000  Reaffirmed
Tata Motors Ltd                        Non-FBL$          CRISIL A1+    22000  Reaffirmed
($Limits are fully interchangeable)
Tata Motors Ltd                        CP                CRISIL A1+    60000  Reaffirmed
Tata Motors Ltd                        ST Debt           CRISIL A1+    10000  Reaffirmed
TVS Credit Services Ltd                ST Loan           CRISIL A1+    2250   Reaffirmed
TVS Credit Services Ltd                CP                CRISIL A1+    15000  Reaffirmed
Vallabh Yarn Pvt Ltd                   Foreign LOC       CRISIL A4     3.9    -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Vanashree Dairy Farm                   Overdraft         CRISIL A4     7.6    Reaffirmed
(Issuer Not Cooperating)
Vandana Ispat Ltd                      BG                CRISIL A4     10     -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Vandana Ispat Ltd                      LOC               CRISIL A4     10     -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Vandana Rolling Mills Ltd              BG                CRISIL A4     5      -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Vandana Rolling Mills Ltd              LOC               CRISIL A4     20     -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Venati Suresh Reddy                    BG                CRISIL A4     20     Reaffirmed
(Issuer Not Cooperating)
Vidyut Urja Equipments Pvt Ltd         Proposed BG       CRISIL A4     9      -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Vidyut Urja Equipments Pvt Ltd         Proposed NFBL     CRISIL A4     34.8   -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Vijayalakshmi Grocers Pvt Ltd          Proposed ST Bk    CRISIL A4     80     Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Visage Infrastructure Pvt Ltd          BG                CRISIL A4     50     Reaffirmed
(Issuer Not Cooperating)
VSM Weavess India Pvt Ltd              LOC               CRISIL A1     50     -
(Migrated from CRISIL A3+)
Water Systems India Pvt Ltd            BG                CRISIL A4     50     Reaffirmed
(Issuer Not Cooperating)
Water Systems India Pvt Ltd            LOC               CRISIL A4     5      Reaffirmed
(Issuer Not Cooperating)

MEDIUM TERM RATINGS:
-------------------
AKS Electricals and Electronics Pvt Ltd FD               FA-/Stable    250    Withdrawn
ICICI Home Finance Co. Ltd             FD                FAAA/Stable   35000  Reaffirmed
Larsen and Toubro Ltd                  FD Programme      FAAA/Stable   -      Reaffirmed

LONG TERM RATINGS:
-------------------
Abhijit Auto Agency India Pvt Ltd      Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
AKS Electricals and Electronics Pvt Ltd CC               CRISIL        735    Reaffirmed
                                                         BBB-/Negative
(Outlook revised from Stable and rating reaffirmed)
AKS Electricals and Electronics Pvt Ltd Proposed FB Bk   CRISIL        70     Reaffirmed
                                       Limits            BBB-/Negative
(Outlook revised from Stable and rating reaffirmed)
AKS Electricals and Electronics Pvt Ltd TL               CRISIL        10     Assigned
                                                         BBB-/Negative
(Outlook revised from Stable and rating reaffirmed)
Aruna Alloy Steels Pvt Ltd             CC                CRISIL        20     -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB+/Stable)
Aruna Alloy Steels Pvt Ltd             Overdraft         CRISIL        35     -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB+/Stable)
Aruna Alloy Steels Pvt Ltd             TL                CRISIL        177    -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB+/Stable)
Athena Cars And Tours Pvt Ltd          CC                CRISIL        150    Reaffirmed
                                                         BB+/Stable
Athena Cars And Tours Pvt Ltd          LT Loan           CRISIL        400    Reaffirmed
                                                         BB+/Stable
Auto Ignition Ltd                      CC                CRISIL        400    Reaffirmed
                                                         BBB+/Stable
(Outlook revised from Positive and rating reaffirmed)
B S Progressive Pvt Ltd                Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Black Bird Retail India Pvt Ltd        Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Chandawat Udyog (Cylinders) Ltd        Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Crescent Export Syndicate              Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Deepak Cotton Mills                    CC                CRISIL        120    Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Falcon Glass Palace                    CC                CRISIL        32.5   Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Gangol Sahkari Dugdh Utpadak Sangh Ltd CC                CRISIL        200    -
                                                         BB-/Stable
(Upgraded from CRISIL B+/Stable)
Gestamp Automotive Chennai Pvt Ltd     NCD               CRISIL BBB+   2750   -
(Placed on Rating Watch with Negative Implications)
Himalayan Packaging Industries Pvt Ltd CC                CRISIL        60     -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB+/Stable)
Himalayan Packaging Industries Pvt Ltd LT Loan           CRISIL        25     -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB+/Stable)
ICICI Home Finance Co. Ltd             NCD               CRISIL        15000  Assigned
                                                         AAA/Stable
ICICI Home Finance Co. Ltd             Subordinated Debt CRISIL        5000   Assigned
                                                         AAA/Stable
ICICI Home Finance Co. Ltd             NCD               CRISIL        15000  Reaffirmed
                                                         AAA/Stable
ICICI Home Finance Co. Ltd             LT Principal      CRISIL PP-MLD 3000   Reaffirmed
                                       Protected Market  AAAr/Stable
                                       Linked Debentures
ICICI Home Finance Co. Ltd             LT Principal      CRISIL PP-MLD 3000   Reaffirmed
                                       Protected Market  AAAr/Stable
                                       Linked Debentures
J. B. Daruka Papers Ltd                LT Loan           CRISIL        210    Reaffirmed
                                                         B+/Stable
J. B. Daruka Papers Ltd                Proposed LT Bk    CRISIL        50     Reaffirmed
                                       Loan Fac          B+/Stable
Jagran Prakashan Ltd                   CC                CRISIL        1750   Reaffirmed
                                                         AA+/Stable
Jagran Prakashan Ltd                   NCD               CRISIL        3000   Reaffirmed
                                                         AA+/Stable
Karnataka Agro Chemicals               CC                CRISIL        127    -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Karnataka Agro Chemicals               LT Loan           CRISIL        30     -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Karnataka Agro Chemicals               Proposed LT Bk    CRISIL        68     -
                                       Loan Fac          B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Lakshmi Infrastructure and Developers  CC                CRISIL        10     -
India Pvt Ltd                                            BB/Stable
(Migrated from CRISIL B+/Stable)
Larsen and Toubro Ltd                  FB Fac            CRISIL        100000 Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  Non-FBL           CRISIL        150000 Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  WC Fac            CRISIL        850000 Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  NCD               CRISIL        13500  Assigned
                                                         AAA/Stable
Larsen and Toubro Ltd                  NCD               CRISIL        90000  Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  NCD               CRISIL        10000  Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  NCD               CRISIL        14000  Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  NCD               CRISIL        53500  Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  NCD               CRISIL        2000   Withdrawn
                                                         AAA/Stable
Larsen and Toubro Ltd                  Inflation-linked  CRISIL        1000   Reaffirmed
                                       Capital-indexed   AAA/Stable
                                       Non- Convertible
                                       Debenture     
Maa Kali Alloys Udyog Pvt Ltd          CC                CRISIL        242.5  -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Maa Kali Alloys Udyog Pvt Ltd          Corporate Loan    CRISIL        47.5   -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Maa Kali Alloys Udyog Pvt Ltd          Proposed LT Bk    CRISIL        1      -
                                       Loan Fac          B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Maa Kali Alloys Udyog Pvt Ltd          Standby Line of   CRISIL        37.5   -
                                       Credit            B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Maa Kali Alloys Udyog Pvt Ltd          TL                CRISIL        246.5  -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Marc Laboratories Ltd                  Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Midday Infomedia Ltd                   CC                CRISIL        150    Reaffirmed
                                                         AA-/Stable
Midday Infomedia Ltd                   Proposed LT Bk    CRISIL        50     Reaffirmed
                                       Loan Fac          AA-/Stable
Mitsu Chem Plast Ltd                   CC                CRISIL        328    Reaffirmed
                                                         BBB-/Stable
Mitsu Chem Plast Ltd                   LT Loan           CRISIL        217    Assigned
                                                         BBB-/Stable
Pallava Textiles Pvt Ltd               CC                CRISIL A/Stable 450    -
(Migrated from CRISIL BBB/Stable ISSUER NOT COOPERATING)
Pallava Textiles Pvt Ltd               LT Loan           CRISIL A/Stable 842.5  -
(Migrated from CRISIL BBB/Stable ISSUER NOT COOPERATING)
Pallava Textiles Pvt Ltd               Proposed LT Bk    CRISIL A/Stable 367.5  -
                                       Loan Fac
(Migrated from CRISIL BBB/Stable ISSUER NOT COOPERATING)
Pallava Textiles Pvt Ltd               Standby LOC       CRISIL A/Stable 50     -
(Migrated from CRISIL BBB/Stable ISSUER NOT COOPERATING)
Pradip Plastic Moulders Pvt Ltd        CC                CRISIL        30     -
                                                         BB-/Stable
(Downgraded from CRISIL BB+/Stable)
Pradip Plastic Moulders Pvt Ltd        Proposed WC Fac   CRISIL        5.8    -
                                                         BB-/Stable
(Downgraded from CRISIL BB+/Stable)
Pradip Plastic Moulders Pvt Ltd        TL                CRISIL        74.2   -
                                                         BB-/Stable
(Downgraded from CRISIL BB+/Stable)
Raja Craft Mills LLP                   CC                CRISIL        80     Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Raja Craft Mills LLP                   TL                CRISIL        105    Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Ramjee Leathers and Supplies           Bill Discounting  CRISIL        25     Reaffirmed
                                                         BB/Stable
Ramjee Leathers and Supplies           Export Packing    CRISIL        30     Reaffirmed
                                       Credit            BB/Stable
Ramjee Leathers and Supplies           Proposed LT Bk    CRISIL        40     Reaffirmed
                                       Loan Fac          BB/Stable
Rishi Techtex Ltd                      CC                CRISIL        170    Reaffirmed
                                                         BBB-/Stable
(Outlook revised from Positive and rating reaffirmed)
Rishi Techtex Ltd                      LT Loan           CRISIL        17     Reaffirmed
                                                         BBB-/Stable
(Outlook revised from Positive and rating reaffirmed)
Rishi Techtex Ltd                      Proposed LT Bk    CRISIL        16     Reaffirmed
                                       Loan Fac          BBB-/Stable
(Outlook revised from Positive and rating reaffirmed)
S. S. Agro                             CC                CRISIL D      200    Reaffirmed
(Issuer Not Cooperating)
S.S. Overseas                          CC                CRISIL D      199.4  Reaffirmed
(Issuer Not Cooperating)
S.S. Overseas                          LT Loan           CRISIL D      0.6    Reaffirmed
(Issuer Not Cooperating)
Samriddhi Petroproducts Pvt Ltd        CC                CRISIL        70     Reaffirmed
                                                         BB+/Stable
Samriddhi Petroproducts Pvt Ltd        Proposed LT Bk    CRISIL        80     Assigned
                                       Loan Fac          BB+/Stable
Samriddhi Petroproducts Pvt Ltd        LT Loan           CRISIL        50     Assigned
                                                         BB+/Stable
Sathe Synthetics (Prop. Rakesh Fuels   CC                CRISIL        125    Reaffirmed
Pvt Ltd)                                                 B+/Stable
(Issuer Not Cooperating)
Sathe Synthetics (Prop. Rakesh Fuels   Proposed LT Bk    CRISIL        2      Reaffirmed
Pvt Ltd)                               Loan Fac          B+/Stable
(Issuer Not Cooperating)
Satish Agro Industries                 WC Fac            CRISIL D      60     -
(Downgraded from CRISIL B-/Stable)
Shivans Power & Irrigation Pvt Ltd     CC                CRISIL        18.7   Reaffirmed
                                                         B-/Stable
(Issuer Not Cooperating)
Shivans Power & Irrigation Pvt Ltd     Proposed LT Bk    CRISIL        60     Reaffirmed
                                       Loan Fac          B-/Stable
(Issuer Not Cooperating)
Shri Ram Murti Smarak Trust            CC                CRISIL        25     -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB+/Stable)
Shri Ram Murti Smarak Trust            TL                CRISIL        435    -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB+/Stable)
Shri Ramraja Sarkar Lok Kalyan Trust   Proposed LT Bk    CRISIL        155    Reaffirmed
                                       Loan Fac          B/Stable
(Issuer Not Cooperating)
Shri Ramraja Sarkar Lok Kalyan Trust   TL                CRISIL        50     Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Siddhartha Engineering Ltd             Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Sinmado Engineering (India) Pvt Ltd    Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Sri Cheran Synthetics India Pvt Ltd    CC                CRISIL A/Stable l490    -
(Migrated from CRISIL BBB/Stable ISSUER NOT COOPERATING)
Sri Cheran Synthetics India Pvt Ltd    TL                CRISIL A/Stable 1260   -
(Migrated from CRISIL BBB/Stable ISSUER NOT COOPERATING)
Sri Luxmi Tulasi Agro Paper Pvt Ltd    CC                CRISIL        450    Reaffirmed
                                                         BBB/Stable
Sri Luxmi Tulasi Agro Paper Pvt Ltd    LT Loan           CRISIL        346    Reaffirmed
                                                         BBB/Stable
Sri Luxmi Tulasi Agro Paper Pvt Ltd    Proposed LT Bk    CRISIL        27.5   Reaffirmed
                                       Loan Fac          BBB/Stable
Sri Raghavendra Agro Industries        CC                CRISIL        65     -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Sri Shandar Snacks Pvt Ltd             CC                CRISIL D      17.5   Reaffirmed
(Issuer Not Cooperating)
Sri Shandar Snacks Pvt Ltd             LOC               CRISIL D      15     Reaffirmed
(Issuer Not Cooperating)
Sri Shandar Snacks Pvt Ltd             LT Loan           CRISIL D      87.5   Reaffirmed
(Issuer Not Cooperating)
Stalwart Technik Pvt Ltd               CC                CRISIL        2.5    -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Stalwart Technik Pvt Ltd               TL                CRISIL        7.5    -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Sunil and Company - Rajasthan          CC                CRISIL B/Stable 75    Reaffirmed
Sunil and Company - Rajasthan          Proposed LT Bk    CRISIL B/Stable 14.5  Reaffirmed
                                       Loan Fac
Suven Life Sciences Ltd                BG                -             25     Withdrawn
(Removed from Rating Watch with Positive Implications; Rating Withdrawn)
Suven Life Sciences Ltd                CC                -             310    Withdrawn
(Removed from Rating Watch with Positive Implications; Rating Withdrawn)
Suven Life Sciences Ltd                LOC               -             200    Withdrawn
(Removed from Rating Watch with Positive Implications; Rating Withdrawn)
Suven Life Sciences Ltd                Standby FB Limits -             50     Withdrawn
(Removed from Rating Watch with Positive Implications; Rating Withdrawn)
Suven Life Sciences Ltd                WC Fac            -             500    Withdrawn
(Removed from Rating Watch with Positive Implications; Rating Withdrawn)
Svatantra Microfin Pvt Ltd             Proposed LT Bk    CRISIL        6050   Reaffirmed
                                       Loan Fac          A+/Stable
Svatantra Microfin Pvt Ltd             TL                CRISIL        8950   Reaffirmed
                                                         A+/Stable
Svatantra Microfin Pvt Ltd             NCD               CRISIL        3000   Assigned
                                                         A+/Stable
Svatantra Microfin Pvt Ltd             NCD               CRISIL        750    Reaffirmed
                                                         A+/Stable
Svatantra Microfin Pvt Ltd             Subordinated Debt CRISIL        200    Reaffirmed
                                                         A+/Stable
Swargiya Tapeshwar Ram Kalyan Samiti   Proposed FB Bk    CRISIL        10     Reaffirmed
                                       Limits            B+/Stable
(Issuer Not Cooperating)
Synergy Transformers Pvt Ltd           CC                CRISIL        11.7   Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Synergy Transformers Pvt Ltd           TL                CRISIL        46     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
TA Hydraulics Pvt Ltd                  CC                CRISIL        60     Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
TA Hydraulics Pvt Ltd                  Proposed LT Bk    CRISIL        30     Reaffirmed
                                       Loan Fac          B/Stable
(Issuer Not Cooperating)
Tata Motors Finance Ltd                INDIAN RECEIVABLE CRISIL A (SO) -      -
                                       PGDA DEC19 C -    Equivalent
                                       Acquirer payouts
(Placed on Rating Watch with Developing Implications)
Tata Motors Ltd                        FB Fac            CRISIL        60000  Reaffirmed
                                                         AA-/Negative
Tata Motors Ltd                        FB Fac^           CRISIL        10000  Reaffirmed
                                                         AA-/Negative
(^Committed credit facility)
Tata Motors Ltd                        LT Loan           CRISIL        10000  Reaffirmed
                                                         AA-/Negative
Tata Motors Ltd                        Proposed LT Bk    CRISIL        30000  Reaffirmed
                                       Loan Fac          AA-/Negative
Tata Motors Ltd                        NCD               CRISIL        20000  Assigned
                                                         AA-/Negative
Tata Motors Ltd                        NCD               CRISIL        5000   Reaffirmed
                                                         AA-/Negative
Tata Motors Ltd                        NCD               CRISIL        5000   Reaffirmed
                                                         AA-/Negative
Tribhuwan Narayan Singh                BG                CRISIL D      100    Reaffirmed
(Issuer Not Cooperating)
Tribhuwan Narayan Singh                CC                CRISIL D      100    Reaffirmed
(Issuer Not Cooperating)
TVS Credit Services Ltd                Perpetual Bonds   CRISIL        1000   Reaffirmed
                                                         A+/Stable
TVS Credit Services Ltd                CC                CRISIL        8950   Reaffirmed
                                                         AA-/Stable
TVS Credit Services Ltd                External          CRISIL        6348.4 Reaffirmed
                                       Commercial        AA-/Stable
                                       Borrowings
TVS Credit Services Ltd                Proposed LT Bk    CRISIL        2122.5 Reaffirmed
                                       Loan Fac          AA-/Stable
TVS Credit Services Ltd                TL#               CRISIL        28829.1Reaffirmed
                                                         AA-/Stable
(#Includes sub debt loans of Rs 414.50 crore comprising HDFC Ltd:Rs 14.5 crore, HDFC Bank Ltd:
Rs 25 crore, Tata Capital: Rs 50 crore, Federal Bank, Rs 75 crore, Aditya Birla Finance: Rs 150
crore, Axis Bank : Rs 50 crore, DCB Bank: Rs 50 crore) 
TVS Credit Services Ltd                WC Demand Loan    CRISIL        11500  Reaffirmed
                                                         AA-/Stable
TVS Credit Services Ltd                NCD               CRISIL        5000   Assigned
                                                         AA-/Stable
TVS Credit Services Ltd                NCD               CRISIL        1000   Reaffirmed
                                                         AA-/Stable
TVS Credit Services Ltd                NCD               CRISIL        2000   Reaffirmed
                                                         AA-/Stable
TVS Credit Services Ltd                Tier II Bond      CRISIL        1000   Reaffirmed
                                                         AA-/Stable
Upcountry Vehicle Pvt Ltd              Inventory Funding CRISIL        140    -
                                       Fac               B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable ISSUER NOT COOPERATING)
Upcountry Vehicle Pvt Ltd              Proposed LT Bk    CRISIL        5      -
                                       Loan Fac          B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable ISSUER NOT COOPERATING)
Vaishnavi Global Pvt Ltd               CC                CRISIL        85     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Vaishnavi Global Pvt Ltd               Proposed LT Bk    CRISIL        140    Reaffirmed
                                       Loan Fac          B+/Stable
(Issuer Not Cooperating)
Vallabh Yarn Pvt Ltd                   CC                CRISIL        60     -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable)
Vallabh Yarn Pvt Ltd                   Overdraft         CRISIL        2.7    -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable)
Vallabh Yarn Pvt Ltd                   Proposed FB Bk    CRISIL        4.3    -
                                       Limits            B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable)
Vallabh Yarn Pvt Ltd                   TL                CRISIL        4.1    -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable)
Vanashree Dairy Farm                   LT Loan           CRISIL        57.4   Reaffirmed
                                                         B-/Stable
(Issuer Not Cooperating)
Vandana Ispat Ltd                      CC                CRISIL        400    -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB+/Stable)
Vandana Ispat Ltd                      LT Loan           CRISIL        0.6    -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB+/Stable)
Vandana Rolling Mills Ltd              CC                CRISIL        70     -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB+/Stable)
Venati Suresh Reddy                    Proposed LT Bk    CRISIL        20     Reaffirmed
                                       Loan Fac          B+/Stable
(Issuer Not Cooperating)
Venati Suresh Reddy                    Secured Overdraft CRISIL        80     Reaffirmed
                                       Fac               B+/Stable
(Issuer Not Cooperating)
Vera Industries                        CC                CRISIL        75     Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Vera Industries                        Proposed LT Bk    CRISIL        2.5    Reaffirmed
                                       Loan Fac          B/Stable
(Issuer Not Cooperating)
Vera Industries                        Rupee TL          CRISIL        7.5    Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Vibhav Farms                           LT Loan           CRISIL D      45.7   Reaffirmed
(Issuer Not Cooperating)
Vibhav Farms                           Open CC           CRISIL D      25     Reaffirmed
(Issuer Not Cooperating)
Vibhav Farms                           Proposed LT Bk    CRISIL D      8.2    Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Vibhav Farms                           WC TL             CRISIL D      11.1   Reaffirmed
(Issuer Not Cooperating)
Vidyut Urja Equipments Pvt Ltd         Drop Line         CRISIL        36.2   -
                                       Overdraft Fac     B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable)
Vijayalakshmi Grocers Pvt Ltd          Proposed LT Bk    CRISIL        100    Reaffirmed
                                       Loan Fac          B/Stable
(Issuer Not Cooperating)
Visage Infrastructure Pvt Ltd          CC                CRISIL        20     Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
VSM Weavess India Pvt Ltd              CC                CRISIL        270    -
                                                         A/Stable
(Migrated from CRISIL BBB/Stable)
VSM Weavess India Pvt Ltd              LT Loan           CRISIL        200    -
                                                         A/Stable
(Migrated from CRISIL BBB/Stable)
VSM Weavess India Pvt Ltd              Proposed LT Bk    CRISIL        185.4  -
                                       Loan Fac          A/Stable
(Migrated from CRISIL BBB/Stable)
VSM Weavess India Pvt Ltd              Standby Line of   CRISIL        10     -
                                       Credit            A/Stable
(Migrated from CRISIL BBB/Stable)
Water Systems India Pvt Ltd            CC                CRISIL        10     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Water Systems India Pvt Ltd            Proposed LT Bk    CRISIL        5      Reaffirmed
                                       Loan Fac          B+/Stable
(Issuer Not Cooperating)
--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below