April 27, 2018 / 5:14 AM / a month ago

CRISIL ratings for Indian debt instruments-Apr 27

    Apr 27 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 26, 2018.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Alacrity Securities Ltd                 BG                 CRISIL A4+     60      Reaffirmed
Armour Steel Buildings India Pvt Ltd    BG                 CRISIL A4+     20      Reaffirmed
Issuer Not Cooperating; Rating Migrated
B. Ramanaiah Constructions              BG                 CRISIL A4+     100
Migrated from CRISIL A4 Issuer Not Cooperating
Cadchem Laboratories Ltd                Non-FBL            CRISIL A4      32.5    Reaffirmed
Issuer Not Cooperating; Rating Migrated
Centum Electronics Ltd                  BG#                CRISIL A2      1207    Reaffirmed
# Interchangeable with LC/ buyers credit limit up to Rs 5 crore
Centum Electronics Ltd                  LOC                CRISIL A2      120     Reaffirmed
Centum Electronics Ltd                  Packing Credit     CRISIL A2      350     Reaffirmed
Centum Electronics Ltd                  Proposed NFBL      CRISIL A2      300     Reaffirmed
Continental Engines Pvt Ltd             Export Packing     CRISIL A2      280     Reaffirmed
                                        Credit
Continental Engines Pvt Ltd             LOC & BG           CRISIL A2      400     Reaffirmed
Continental Engines Pvt Ltd             Post Shipment      CRISIL A2      225     Reaffirmed
                                        Credit
Continental Engines Pvt Ltd             Standby Export     CRISIL A2      46      Reaffirmed
                                        Packing Credit
CSM Technologies Pvt Ltd                BG                 CRISIL A4+     45      Reaffirmed
Issuer Not Cooperating; Rating Migrated
CSM Technologies Pvt Ltd                Proposed ST Bk     CRISIL A4+     20      Reaffirmed
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
DelVal Flow Controls Pvt Ltd            Foreign Exchange   CRISIL A3      8.9     Reaffirmed
                                        Forward
DelVal Flow Controls Pvt Ltd            LOC & BG           CRISIL A3      50      Reaffirmed
Dream Weaver Pvt Ltd                    Foreign Bill       CRISIL A4      30      Assigned
                                        Discounting
Dream Weaver Pvt Ltd                    Packing Credit     CRISIL A4      30      Assigned
Fulcrum Worldwide Software Pvt Ltd      BG                 CRISIL A4+     5.5     Reaffirmed
Garg Duplex and Paper Mills Pvt Ltd     LOC                CRISIL A3      50      Reaffirmed
Geojit Financial Services Ltd           BG                 CRISIL A1      610     Reaffirmed
Godavari Commodities Ltd                BG                 CRISIL A4+     300
Issuer Not Cooperating; Migrated from CRISIL A2
Godavari Commodities Ltd                LOC                CRISIL A4+     1000
Issuer Not Cooperating; Migrated from CRISIL A2
Home Fit Exports                        Packing Credit     CRISIL A4+     170     Reaffirmed
Home Fit Exports                        Proposed NFBL      CRISIL A4+     6       Reaffirmed
IKF Technologies Ltd                    BG                 CRISIL A4      20      Reaffirmed
Continues on Rating Watch with Negative Implications
Kaka Carpets                            Export Packing     CRISIL A4+     35      Reaffirmed
                                        Credit
Issuer Not Cooperating; Rating Migrated
Kaka Carpets                            Foreign Bill       CRISIL A4+     50      Reaffirmed
                                        Purchase
Issuer Not Cooperating; Rating Migrated
Kaka Carpets                            Proposed ST Bk     CRISIL A4+     50      Reaffirmed
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Kaka Overseas Ltd                       Export Packing     CRISIL A4+     35      Reaffirmed
                                        Credit
Issuer Not Cooperating; Rating Migrated
Kaka Overseas Ltd                       Foreign Bill       CRISIL A4+     44      Reaffirmed
                                        Purchase
Issuer Not Cooperating; Rating Migrated
Kamarhatty Co Ltd                       BG                 CRISIL A4+     37.5    Reaffirmed
Issuer Not Cooperating; Rating Migrated
Kamarhatty Co Ltd                       LOC                CRISIL A4+     50      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Kanhaiya Lal Kalyanmal                  Packing Credit     CRISIL A4+     30      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Katyaini Products Pvt Ltd               Bill Discounting   CRISIL A4+     50      Reaffirmed
                                        under LOC
Issuer Not Cooperating; Rating Migrated
Katyaini Products Pvt Ltd               Inland/Import LOC  CRISIL A4+     80      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Keen and Core Developers                BG                 CRISIL A4      100     Reaffirmed
Issuer Not Cooperating; Rating Migrated
KLJ Organic Ltd                         BG                 CRISIL A1+     10      Reaffirmed
KLJ Organic Ltd                         LOC                CRISIL A1+     1257.5  Reaffirmed
KLJ Plasticizers Ltd                    BG                 CRISIL A1+     20      Reaffirmed
KLJ Plasticizers Ltd                    LOC                CRISIL A1+     3645    Reaffirmed
KLJ Plasticizers Ltd                    Proposed LOC       CRISIL A1+     135     Reaffirmed
KLJ Plasticizers Ltd                    CP Programme       CRISIL A1+     250     Reaffirmed
KLJ Polymers and Chemicals Ltd          BG                 CRISIL A1+     20      Reaffirmed
KLJ Polymers and Chemicals Ltd          LOC*               CRISIL A1+     1480.6  Reaffirmed
*Includes a sublimit for Forward Contract amounting to Rs 8.06 crore
KLJ Polymers and Chemicals Ltd          CP                 CRISIL A1+     400     Reaffirmed
KLJ Resources Ltd                       LOC                CRISIL A1+     5200    Reaffirmed
Levin Electricals                       BG                 CRISIL A4      30      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Levin Electricals                       Overdraft          CRISIL A4      30      Reaffirmed

Issuer Not Cooperating; Rating Migrated
Lorians Ceramic LLP                     BG                 CRISIL A4      24.4    Assigned
Mangla Tubes Pvt Ltd                    LOC                CRISIL A4+     6       Reaffirmed
Issuer Not Cooperating; Rating Migrated
Marico Ltd                              LOC & BG           CRISIL A1+     1450    Reaffirmed
Marico Ltd                              CP                 CRISIL A1+     1500    Reaffirmed
Nippon Audiotronix Pvt Ltd              Foreign LOC        CRISIL A1      600
Upgraded from CRISIL A2+
Phoenix Foils Pvt Ltd                   LOC                CRISIL A4+     130     Reaffirmed
Punya Coal Roadlines                    BG                 CRISIL A4+     100     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Punya Coal Roadlines                    LOC                CRISIL A4+     100     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Sandvik Asia Pvt Ltd                    LOC & BG#          CRISIL A1+     2063    Reaffirmed
#Buyer's credit fully interchangeable with packing credit
Sandvik Asia Pvt Ltd                    Packing Credit@    CRISIL A1+     1892    Reaffirmed
@Short-term limit and PCFC limit are interchangeable
Sendoz Impex Ltd                        BG                 CRISIL A4+     60      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Shah Brothers                           BG                 CRISIL A4+     40      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Shah Brothers                           Foreign Bill       CRISIL A4+     100     Reaffirmed
                                        Discounting
Issuer Not Cooperating; Rating Migrated
Shankar Trading Company Pvt Ltd         BG                 CRISIL A4+     0.7     Reaffirmed
Shiv Krupa Enterprises                  Proposed ST Bk     CRISIL A4      5       Assigned
                                        Loan Fac
Shiv Krupa Enterprises                  BG                 CRISIL A4      50      Assigned
Shrikishan And Company Pvt Ltd          BG                 CRISIL A4+     200     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Silverton Pulp and Papers Pvt Ltd       LOC                CRISIL A3      300     Reaffirmed
Speedcrafts Ltd                         BG                 CRISIL A4      50
Upgraded from CRISIL D
Speedcrafts Ltd                         LOC                CRISIL A4      35
Upgraded from CRISIL D
SRB International Pvt Ltd               LOC                CRISIL A4      5       Reaffirmed
Issuer Not Cooperating; Rating Migrated
Sree Sai Ram Enterprises                BG                 CRISIL A4      155     Assigned
Assigned; Suspension Revoked
Sunrise Marketing Agents                LOC                CRISIL A4      35      Reaffirmed
Sunrise Marketing Agents                Overdraft          CRISIL A4      30      Reaffirmed
Suresh Gopinath                         BG                 CRISIL A4      50      Reaffirmed
The Phosphate Co. Ltd                   Foreign Exchange   CRISIL A4+     2       Reaffirmed
                                        Forward
Issuer Not Cooperating; Rating Migrated
The Phosphate Co. Ltd                   LOC                CRISIL A4+     220     Reaffirmed
Issuer Not Cooperating; Rating Migrated
TIM Delhi Airport Advertising Pvt Ltd   BG                 CRISIL A1+     100     Reaffirmed
UTM Engineering Pvt Ltd                 BG                 CRISIL A4      65      Reaffirmed
Valson Industries Ltd                   BG                 CRISIL A3      3       Reaffirmed
Valson Industries Ltd                   LOC                CRISIL A3      7       Reaffirmed
Valson Industries Ltd                   Loan Equivalent    CRISIL A3      5       Reaffirmed
                                        Risk Limits
Veljan Hydrair Ltd                      BG                 CRISIL A4+     280
Issuer Not Cooperating; Migrated from CRISIL A3
Veljan Hydrair Ltd                      LOC                CRISIL A4+     20
Issuer Not Cooperating; Migrated from CRISIL A3
VRA Cotton Mills Pvt Ltd                Export Packing     CRISIL A4      450
                                        Credit
Downgraded from CRISIL A4+

MEDIUM TERM RATINGS:
-------------------
Dynemic Products Ltd                    FD                 FA-            10
Placed on Rating Watch with Developing Implications

LONG TERM RATINGS:
-------------------
Adarsh Heights Pvt Ltd                  LT Loan            CRISIL BB+     720     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Alacrity Securities Ltd                 Overdraft          CRISIL BB-     40      Reaffirmed
Alacrity Securities Ltd                 Proposed LT Bk     CRISIL BB-     30      Assigned
                                        Loan Fac
Amritesh Agro Products Pvt Ltd          CC                 CRISIL B+      65      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Amritesh Agro Products Pvt Ltd          LT Loan            CRISIL B+      60      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Armour Steel Buildings India Pvt Ltd    CC                 CRISIL BB      30      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Armour Steel Buildings India Pvt Ltd    Proposed LT Bk     CRISIL BB      40      Reaffirmed
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Armour Steel Buildings India Pvt Ltd    TL                 CRISIL BB      10      Reaffirmed
Issuer Not Cooperating; Rating Migrated
ASG Leather Pvt Ltd                     Export Packing     CRISIL BB-     110     Reaffirmed
                                        Credit
ASG Leather Pvt Ltd                     Proposed FB Bk     CRISIL BB-     9.5     Reaffirmed
                                        Limits
ASG Leather Pvt Ltd                     Standby LOC        CRISIL BB-     8.5     Reaffirmed
ASG Leather Pvt Ltd                     TL                 CRISIL BB-     22      Reaffirmed
Auro Sundram Ply and Door Pvt Ltd       CC                 CRISIL BBB     200     Reaffirmed
B. Ramanaiah Constructions              Overdraft          CRISIL BB-     140
Migrated from CRISIL B Issuer Not Cooperating
Bhadohi Carpets                         Export Packing     CRISIL BB+     90      Reaffirmed
                                        Credit
Issuer Not Cooperating; Rating Migrated
Bhadohi Carpets                         Foreign Bill       CRISIL BB+     30      Reaffirmed
                                        Purchase
Issuer Not Cooperating; Rating Migrated
Bhadohi Carpets                         Foreign LOC        CRISIL BB+     5       Reaffirmed
Issuer Not Cooperating; Rating Migrated
Bivab Developers Pvt Ltd                Proposed LT Bk     CRISIL B       21.3    Reaffirmed
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Bivab Developers Pvt Ltd                TL                 CRISIL B       28.7    Reaffirmed
Issuer Not Cooperating; Rating Migrated
Cadchem Laboratories Ltd                CC                 CRISIL B+      72.5    Reaffirmed
Issuer Not Cooperating; Rating Migrated
Cadchem Laboratories Ltd                LT Loan            CRISIL B+      43      Reaffirmed
Issuer Not Cooperating; Rating Migrated
CCR Logistics Pvt Ltd                   CC                 CRISIL BB-     120     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Centum Electronics Ltd                  CC                 CRISIL BBB+    60      Reaffirmed
Centum Electronics Ltd                  Export Packing     CRISIL BBB+    350     Reaffirmed
                                        Credit
Centum Electronics Ltd                  LT Loan            CRISIL BBB+    380     Reaffirmed
Centum Electronics Ltd                  Proposed FB Bk     CRISIL BBB+    100     Reaffirmed
                                        Limits
Centum Electronics Ltd                  WC Demand Loan     CRISIL BBB+    430     Reaffirmed
Contemporary Brokers Pvt Ltd            CC                 CRISIL BBB     160     Reaffirmed
Contemporary Brokers Pvt Ltd            Proposed LT Bk     CRISIL BBB     50      Reaffirmed
                                        Loan Fac
Continental Engines Pvt Ltd             CC                 CRISIL BBB+    220     Reaffirmed
Continental Engines Pvt Ltd             Proposed LT Bk     CRISIL BBB+    59      Reaffirmed
                                        Loan Fac
Continental Engines Pvt Ltd             TL                 CRISIL BBB+    290     Reaffirmed
CSM Technologies Pvt Ltd                CC                 CRISIL BB+     35      Reaffirmed
Issuer Not Cooperating; Rating Migrated
DelVal Flow Controls Pvt Ltd            CC                 CRISIL BBB-    230     Reaffirmed
DelVal Flow Controls Pvt Ltd            Corporate Loan     CRISIL BBB-    5.4     Reaffirmed
DelVal Flow Controls Pvt Ltd            Proposed TL        CRISIL BBB-    60.7    Reaffirmed
Deshabhimani Publications               CC                 CRISIL BB      280     Assigned
Dynemic Products Ltd                    Export Finance     CRISIL BBB     310     Reaffirmed
                                        Limit
Placed on Rating Watch with Developing Implications
Dynemic Products Ltd                    TL                 CRISIL BBB     10      Reaffirmed
Placed on Rating Watch with Developing Implications
Fulcrum Worldwide Software Pvt Ltd      CC                 CRISIL BB      100     Reaffirmed
Fulcrum Worldwide Software Pvt Ltd      Foreign Currency TLCRISIL BB      34      Reaffirmed
Fulcrum Worldwide Software Pvt Ltd      Proposed LT Bk     CRISIL BB      40.5    Reaffirmed
                                        Loan Fac
Gajanan Extraction Ltd                  CC                 CRISIL BB+     200     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Gajanan Extraction Ltd                  Proposed LT Bk     CRISIL BB+     47.5    Reaffirmed
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Gajanan Extraction Ltd                  Standby Line of    CRISIL BB+     30      Reaffirmed
                                        Credit
Issuer Not Cooperating; Rating Migrated
Garg Duplex and Paper Mills Pvt Ltd     CC                 CRISIL BBB-    100     Reaffirmed
Garg Duplex and Paper Mills Pvt Ltd     Proposed LT Bk     CRISIL BBB-    71      Reaffirmed
                                        Loan Fac
Ghaziabad Forgings (P) Ltd              CC                 CRISIL B+      57.5    Reaffirmed
GHO Agro Pvt Ltd                        CC                 CRISIL BB+     120
Issuer Not Cooperating; Migrated from CRISIL BBB-
GHO Agro Pvt Ltd                        TL                 CRISIL BB+     310
Issuer Not Cooperating; Migrated from CRISIL BBB-
Godavari Commodities Ltd                CC                 CRISIL BB+     650
Issuer Not Cooperating; Migrated from CRISIL BBB+
Gujarat State Petroleum Corporation Ltd Subordinated NCDs  CRISIL BBB     20000
Continues on Rating Watch with Negative Implications
Gujarat State Petroleum Corporation Ltd TL*                CRISIL BBB+    1189.5  Reaffirmed
Continues on Rating Watch with Negative Implications; * converted at Rs 65/USD
Gujarat State Petroleum Corporation Ltd NCD Issue          CRISIL BBB+    40000
Continues on Rating Watch with Negative Implications
Gujarat State Petroleum Corporation Ltd Compulsory         CRISIL BBB+r   5500
                                        Convertible
                                        Debentures  
Continues on Rating Watch with Negative Implications
Home Fit Exports                        Bill Discounting   CRISIL BB      50      Reaffirmed
Home Fit Exports                        Credit Limit Under CRISIL BB      44      Reaffirmed
                                        Gold Card
IKF Technologies Ltd                    CC                 CRISIL B+      70      Reaffirmed
Continues on Rating Watch with Negative Implications
IKF Technologies Ltd                    TL                 CRISIL B+      20      Reaffirmed
Continues on Rating Watch with Negative Implications
Kaka Carpets                            Standby Line of    CRISIL BB      15      Reaffirmed
                                        Credit
Issuer Not Cooperating; Rating Migrated
Kaka Overseas Ltd                       Foreign Bill       CRISIL BB      26      Reaffirmed
                                        Purchase
Issuer Not Cooperating; Rating Migrated
Kaka Overseas Ltd                       Standby Line of    CRISIL BB      21      Reaffirmed
                                        Credit
Issuer Not Cooperating; Rating Migrated
Kalaskar Infrastructures                Lease Rental       CRISIL BB      140     Reaffirmed
                                        Discounting Loan
Issuer Not Cooperating; Rating Migrated
Kamarhatty Co Ltd                       CC                 CRISIL BB+     95      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Kamarhatty Co Ltd                       Foreign Bill       CRISIL BB+     10      Reaffirmed
                                        Purchase
Issuer Not Cooperating; Rating Migrated
Kamarhatty Co Ltd                       LT Loan            CRISIL BB+     300.7   Reaffirmed
Issuer Not Cooperating; Rating Migrated
Kamarhatty Co Ltd                       Proposed FB Bk     CRISIL BB+     6.8     Reaffirmed
                                        Limits
Issuer Not Cooperating; Rating Migrated
Kanhaiya Lal Kalyanmal                  Foreign Bill       CRISIL BB      70      Reaffirmed
                                        Discounting
Issuer Not Cooperating; Rating Migrated
Katyaini Products Pvt Ltd               CC                 CRISIL BB      40      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Katyaini Products Pvt Ltd               Proposed CC Limit  CRISIL BB      10      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Kedia Brothers                          CC                 CRISIL BB-     360     Assigned
Assigned; Suspension Revoked 
Keen and Core Developers                CC                 CRISIL B-      60      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Kinjal Cotton Pvt Ltd                   CC                 CRISIL B       75      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Kinjal Cotton Pvt Ltd                   TL                 CRISIL B       20      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Kissan Industries                       CC                 CRISIL B       72.8    Reaffirmed
Issuer Not Cooperating; Rating Migrated
KLJ Organic Ltd                         CC                 CRISIL A+      350     Reaffirmed
Outlook revised from Stable and rating reaffirmed
KLJ Organic Ltd                         TL                 CRISIL A+      360     Reaffirmed
Outlook revised from Stable and rating reaffirmed
KLJ Plasticizers Ltd                    CC                 CRISIL A+      800     Reaffirmed
Outlook revised from Stable and rating reaffirmed
KLJ Plasticizers Ltd                    TL                 CRISIL A+      70      Reaffirmed
Outlook revised from Stable and rating reaffirmed
KLJ Polymers and Chemicals Ltd          CC                 CRISIL A+      800     Reaffirmed
Outlook revised from Stable and rating reaffirmed
KLJ Polymers and Chemicals Ltd          Proposed LT Bk     CRISIL A+      494.4   Reaffirmed
                                        Loan Fac
Outlook revised from Stable and rating reaffirmed
KLJ Polymers and Chemicals Ltd          TL                 CRISIL A+      79.3    Reaffirmed
Outlook revised from Stable and rating reaffirmed
KLJ Resources Ltd                       CC                 CRISIL A+      1000    Reaffirmed
Outlook revised from Stable and rating reaffirmed
KLJ Resources Ltd                       Proposed LT Bk     CRISIL A+      50      Reaffirmed
                                        Loan Fac
Outlook revised from Stable and rating reaffirmed
Kothari Steel Syndicate                 CC                 CRISIL BB      100     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Levin Electricals                       Proposed Overdraft CRISIL B+      20      Reaffirmed
                                        Fac
Issuer Not Cooperating; Rating Migrated
Lorians Ceramic LLP                     TL                 CRISIL B+      130     Assigned
Lorians Ceramic LLP                     CC                 CRISIL B+      50      Assigned
Mahalaxmi Fab                           CC                 CRISIL BB-     100     Reaffirmed
Maharaja Resources Pvt Ltd              CC                 CRISIL B       27      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Maharaja Resources Pvt Ltd              TL                 CRISIL B       70      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Mahidhara Projects Pvt Ltd              Secured Overdraft  CRISIL D       50
                                        Fac
Downgraded from CRISIL B+
Mangalore Marketing                     CC                 CRISIL BB-     90      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Mangla Tubes Pvt Ltd                    CC                 CRISIL BB+     65      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Mangla Tubes Pvt Ltd                    Proposed CC Limit  CRISIL BB+     78      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Mangla Tubes Pvt Ltd                    Standby Line of    CRISIL BB+     6       Reaffirmed
                                        Credit
Issuer Not Cooperating; Rating Migrated
Mangla Tubes Pvt Ltd                    TL                 CRISIL BB+     45      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Mani Jewel                              CC                 CRISIL BB      40      Reaffirmed
Mani Jewel                              Gold Loan          CRISIL BB      60      Reaffirmed
Marico Ltd                              CC & WC demand     CRISIL AA+     1460    Reaffirmed
                                        loan*
* Working Capital Demand Loan
Meher Seeds Corporation                 CC                 CRISIL B+      49      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Meher Seeds Corporation                 Proposed LT Bk     CRISIL B+      23.5    Reaffirmed
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Metal Forms Pvt Ltd                     BG                 Withdrawn      80
Rating reaffirmed and Withdrawn
Metal Forms Pvt Ltd                     Buyer`s Credit     Withdrawn      155
Rating reaffirmed and Withdrawn
Metal Forms Pvt Ltd                     CC                 Withdrawn      102.5
Rating reaffirmed and Withdrawn
Metal Forms Pvt Ltd                     Overdraft          Withdrawn      7.5
Rating reaffirmed and Withdrawn
Metal Forms Pvt Ltd                     TL                 Withdrawn      150
Rating reaffirmed and Withdrawn
Muktsar Cotton Pvt Ltd                  CC                 CRISIL B+      100     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Murlidhar Cotton                        CC                 CRISIL B+      70      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Murlidhar Cotton                        TL                 CRISIL B+      20      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Nippon Audiotronix Pvt Ltd              Bill Discounting   CRISIL A       300
Upgraded from CRISIL A-
Nippon Audiotronix Pvt Ltd              CC                 CRISIL A       200
Upgraded from CRISIL A-
Notandas and Sons                       CC                 CRISIL BBB-    300     Reaffirmed
Phoenix Foils Pvt Ltd                   CC                 CRISIL BB+     120     Reaffirmed
Outlook revised from Stable and rating reaffirmed
Phoenix Foils Pvt Ltd                   LT Loan            CRISIL BB+     11.3    Reaffirmed
Outlook revised from Stable and rating reaffirmed
Phoenix Foils Pvt Ltd                   Proposed LT Bk     CRISIL BB+     13.3    Reaffirmed
                                        Loan Fac
Outlook revised from Stable and rating reaffirmed
Prithvi Sound Products Company Pvt Ltd  Proposed LT Bk     CRISIL BBB+    450     Reaffirmed
                                        Loan Fac
Outlook revised from Stable and rating reaffirmed
Priyankshi Fashions Pvt Ltd             CC                 CRISIL BB-     100     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Priyankshi Fashions Pvt Ltd             Proposed CC Limit  CRISIL BB-     80      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Punya Coal Roadlines                    CC                 CRISIL BB      100     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Radium Creation Ltd                     Export Packing     CRISIL BBB     230     Reaffirmed
                                        Credit
Migrated from CRISIL BBB Issuer Not Cooperating
Radium Creation Ltd                     LT Bk Fac          CRISIL BBB     50      Reaffirmed
Migrated from CRISIL BBB Issuer Not Cooperating
Ridhi Auto Industries Pvt Ltd           CC                 CRISIL B+      45      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Ridhi Auto Industries Pvt Ltd           Proposed LT Bk     CRISIL B+      40      Reaffirmed
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Ridhi Auto Industries Pvt Ltd           TL                 CRISIL B+      15      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Sandvik Asia Pvt Ltd                    CC*                CRISIL AA+     1258    Reaffirmed
*Fully interchangeable with short-term loan
Sendoz Impex Ltd                        CC                 CRISIL BB+     220     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Sendoz Impex Ltd                        Proposed LT Bk     CRISIL BB+     5       Reaffirmed
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Shah Brothers                           CC                 CRISIL BB+     40      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Shankar Trading Company Pvt Ltd         CC                 CRISIL BB-     72.5    Reaffirmed
Shankar Trading Company Pvt Ltd         Proposed LT Bk     CRISIL BB-     1.8     Reaffirmed
                                        Loan Fac
Shiv Krupa Enterprises                  Proposed CC Limit  CRISIL B+      30      Assigned
Shiv Krupa Enterprises                  CC                 CRISIL B+      45      Assigned
Shree Ramdev Cotton Industries          CC                 CRISIL BB-     75      Assigned
Assigned; Suspension Revoked
Shree Ramdev Cotton Industries          LT Loan            CRISIL BB-     4.5     Assigned
Assigned; Suspension Revoked
Shree Ramdev Cotton Industries          Proposed LT Bk     CRISIL BB-     0.5     Assigned
                                        Loan Fac
Assigned; Suspension Revoked
Shrikishan And Company Pvt Ltd          CC                 CRISIL BB      30      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Shrikishan And Company Pvt Ltd          Proposed FB Bk     CRISIL BB      20      Reaffirmed
                                        Limits
Issuer Not Cooperating; Rating Migrated
Silverton Pulp and Papers Pvt Ltd       CC                 CRISIL BBB-    450     Reaffirmed
Silverton Pulp and Papers Pvt Ltd       LT Loan            CRISIL BBB-    700     Reaffirmed
Speedcrafts Ltd                         CC                 CRISIL B       240
Upgraded from CRISIL D
Speedcrafts Ltd                         Proposed LT Bk     CRISIL B       301.2
                                        Loan Fac
Upgraded from CRISIL D
SRB International Pvt Ltd               CC                 CRISIL B+      50      Reaffirmed
Issuer Not Cooperating; Rating Migrated
SRB International Pvt Ltd               Proposed FB Bk     CRISIL B+      45      Reaffirmed
                                        Limits
Issuer Not Cooperating; Rating Migrated
Sree Sai Ram Enterprises                Secured Overdraft  CRISIL B+      5       Assigned
                                        Fac
Assigned; Suspension Revoked
Sri Venkatalakshmi Spinners Pvt Ltd     CC                 CRISIL BB-     65      Reaffirmed
Sri Venkatalakshmi Spinners Pvt Ltd     LT Loan            CRISIL BB-     34.4    Reaffirmed
Sunrise Marketing Agents                CC                 CRISIL B-      10
Downgraded from CRISIL B
Sunrise Marketing Agents                TL                 CRISIL B-      12
Downgraded from CRISIL B
Superlite AAC Blocks Industry           CC                 CRISIL B       59      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Superlite AAC Blocks Industry           LT Loan            CRISIL B       80      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Suresh Gopinath                         Overdraft          CRISIL B+      100     Reaffirmed
Thanjavur Spinning Mill Ltd             CC                 CRISIL BB-     225     Reaffirmed
Thanjavur Spinning Mill Ltd             Corporate Loan     CRISIL BB-     350     Reaffirmed
Thanjavur Spinning Mill Ltd             TL                 Withdrawn      58.3
The Phosphate Co. Ltd                   CC                 CRISIL BB-     180     Reaffirmed
Issuer Not Cooperating; Rating Migrated
The Phosphate Co. Ltd                   TL                 CRISIL BB-     25.5    Reaffirmed
Issuer Not Cooperating; Rating Migrated
TIM Delhi Airport Advertising Pvt Ltd   CC                 CRISIL AA-     290     Reaffirmed
TIM Delhi Airport Advertising Pvt Ltd   LT Loan            CRISIL AA-     210     Reaffirmed
UTM Engineering Pvt Ltd                 CC                 CRISIL C       15
Downgraded from CRISIL B
Valson Industries Ltd                   CC                 CRISIL BBB-    55      Reaffirmed
Valson Industries Ltd                   Proposed LT Bk     CRISIL BBB-    20.3    Reaffirmed
                                        Loan Fac
Valson Industries Ltd                   TL                 CRISIL BBB-    29.7    Assigned
Vastu Housing Finance Corporation Ltd   CC                 CRISIL A-      40
Upgraded from CRISIL BBB+
Vastu Housing Finance Corporation Ltd   LT Bk Fac          CRISIL A-      820
Upgraded from CRISIL BBB+
Vastu Housing Finance Corporation Ltd   Proposed LT Bk     CRISIL A-      1140
                                        Loan Fac
Upgraded from CRISIL BBB+
Vastu Housing Finance Corporation Ltd   NCD                CRISIL A-      1000
Upgraded from CRISIL BBB+ 
Veggiecraft Food Pvt Ltd                CC                 CRISIL B       10      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Veggiecraft Food Pvt Ltd                LT Loan            CRISIL B       75      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Veljan Hydrair Ltd                      CC                 CRISIL BB+     280
Issuer Not Cooperating; Migrated from CRISIL BBB-
Veljan Hydrair Ltd                      TL                 CRISIL BB+     135
Issuer Not Cooperating; Migrated from CRISIL BBB-
Vinil Trading Pvt Ltd                   TL                 CRISIL B       180     Reaffirmed
Issuer Not Cooperating; Rating Migrated
VRA Cotton Mills Pvt Ltd                CC                 CRISIL B+      20
Downgraded from CRISIL BB

--------------------------------------------------------------------------------------------
$: 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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