April 28, 2020 / 8:48 AM / a month ago

CRISIL ratings for Indian debt instruments-Apr 28

    Apr 28  - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of April 27, 2020.


COMPANY                                INSTRUMENT        RATING       AMOUNT  MOVEMENT
                                                                      (RS.MLN)
------                                 ----------        ------        -----  ---------
SHORT TERM RATINGS:
-------------------
ABC Fruits                             LOC               CRISIL A4+    20     Reaffirmed
ABC Fruits                             Proposed ST Bk    CRISIL A4+    10     Reaffirmed
                                       Loan Fac
Aditya Timpack Pvt Ltd                 BG                CRISIL A4+    5      Reaffirmed
Aditya Timpack Pvt Ltd                 Inland/Import LOC CRISIL A4+    15     Reaffirmed
Air Mech Engineers Pvt Ltd             BG                CRISIL A4+    130    -
(ISSUER NOT COOPERATING; Migrated from CRISIL A3)
Ascent Yarns Pvt Ltd                   BG                CRISIL A3     6.5    Reaffirmed
(Issuer Not Cooperating)
Ascent Yarns Pvt Ltd                   LOC               CRISIL A3     20     Reaffirmed
(Issuer Not Cooperating)
Ashok Granites Ltd                     BG                CRISIL A4+    2.5    -
(ISSUER NOT COOPERATING; Revised from CRISIL A3+)
Ashok Granites Ltd                     Export Packing    CRISIL A4+    252.5  -
                                       Credit
(ISSUER NOT COOPERATING; Revised from CRISIL A3+)
Ashok Granites Ltd                     LOC               CRISIL A4+    5      -
(ISSUER NOT COOPERATING; Revised from CRISIL A3+)
B Ghose and Co Pvt Ltd                 BG                CRISIL A4     5      -
(Migrated from CRISIL A4+ ISSUER NOT COOPERATING)
Balmukund Concast Pvt Ltd              LOC               CRISIL A4+    45     -
(ISSUER NOT COOPERATING; Migrated from CRISIL A3+)
Bhabani Pigments Pvt Ltd               BG                CRISIL A2+    3      Reaffirmed
Bhabani Pigments Pvt Ltd               LOC               CRISIL A2+    30     Reaffirmed
BRGD Ingot Pvt Ltd                     LOC               CRISIL A3     120    Reaffirmed
Das and Sons Infracon Pvt Ltd          BG                CRISIL A4+    30.1   Reaffirmed
East India Construction Co.            BG                CRISIL A4+    150    -
(Issuer Not Cooperating)
East India Construction Co.            Overdraft         CRISIL A4+    45     -
(Issuer Not Cooperating)
G T P Granites Ltd                     BG                CRISIL A4+    5      -
(ISSUER NOT COOPERATING; Revised from CRISIL A3+)
G T P Granites Ltd                     Foreign LOC       CRISIL A4+    40     -
(ISSUER NOT COOPERATING; Revised from CRISIL A3+)
G T P Granites Ltd                     Packing Credit    CRISIL A4+    62     -
(ISSUER NOT COOPERATING; Revised from CRISIL A3+)
G T P Granites Ltd                     Post Shipment     CRISIL A4+    99.3   -
                                       Credit
(ISSUER NOT COOPERATING; Revised from CRISIL A3+)
GDR Infratech                          BG                CRISIL A4+    150    -
(ISSUER NOT COOPERATING; Migrated from CRISIL A3)
K.Bala Narsimha Reddy Engineers and    BG                CRISIL A4+    160    Reaffirmed
Contractors Pvt Ltd
K.Bala Narsimha Reddy Engineers and    Overdraft         CRISIL A4+    80     Reaffirmed
Contractors Pvt Ltd
NPG Rice Mill Pvt Ltd                  BG                CRISIL A4+    55.8   Reaffirmed
Paragon Irrigation Pvt Ltd             BG                CRISIL A3+    160    Reaffirmed
(Issuer Not Cooperating)
Qatar National Bank (Q.P.S.C.)         CDs Programme     CRISIL A1+    5000   Reaffirmed
Roop Automotives Ltd                   Non-FBL           CRISIL A1     22     Reaffirmed
(Continues on Rating Watch with Developing Implications)
Salvo Explosives and Chemicals Pvt Ltd BG                CRISIL A4+    110    -
(ISSUER NOT COOPERATING; Migrated from CRISIL A3+)
Salvo Explosives and Chemicals Pvt Ltd LOC               CRISIL A4+    60     -
(ISSUER NOT COOPERATING; Migrated from CRISIL A3+)
Sarins                                BG                CRISIL A4     40     Reaffirmed
Sekisui DLJM Molding Pvt Ltd           Import LOC Limit  CRISIL A2+    20     -
Shiva Satya Hotels Pvt Ltd             BG                CRISIL A4+    78.9   -
(ISSUER NOT COOPERATING; Migrated from CRISIL A2)
Shri Lakshmi Agro Foods Pvt Ltd        LOC               CRISIL A4+    47.5   -
(ISSUER NOT COOPERATING; Revised from CRISIL A3)
Shri Lakshmi Agro Foods Pvt Ltd        Overdraft         CRISIL A4+    230    -
(ISSUER NOT COOPERATING; Revised from CRISIL A3)
Sky Automobiles                        Inventory Funding CRISIL A4+    1165.5 Reaffirmed
                                       Fac
Sky Automobiles                        Overdraft         CRISIL A4+    40     Reaffirmed
SUL Steel Pvt Ltd                      BG                CRISIL A3     50     Reaffirmed
SUL Steel Pvt Ltd                      LOC               CRISIL A3     50     Reaffirmed
Supermac Industries India Ltd          Inland/Import LOC CRISIL A4+    30     -
(ISSUER NOT COOPERATING; Migrated from CRISIL A3)
Titan Paints And Chemicals Pvt Ltd     LOC               CRISIL A4+    62.5   -
(ISSUER NOT COOPERATING; Revised from CRISIL A3)
Ultra Pipes                            LOC               CRISIL A4+    60     Reaffirmed
Uttam Sucrotech International Pvt Ltd  BG                CRISIL A4+    1007.2 -
(ISSUER NOT COOPERATING; Migrated from CRISIL A3)
Uttam Sucrotech International Pvt Ltd  Foreign Exchange  CRISIL A4+    12.8   -
                                       Forward
(ISSUER NOT COOPERATING; Migrated from CRISIL A3)
Uttam Sucrotech International Pvt Ltd  LOC               CRISIL A4+    280    -
(ISSUER NOT COOPERATING; Migrated from CRISIL A3)
Uttranchal Welfare Society             Overdraft         CRISIL A4+    50     Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Banswara Syntex Ltd                    FD                FB+/Stable    300    -
(ISSUER NOT COOPERATING; Migrated from FA-/Stable and Placed on Notice of Withdrawal)
Beardsell Ltd                          FD                FB+/Stable    50     -
(ISSUER NOT COOPERATING; Placed on Notice of Withdrawal)
Tarak Chemicals Ltd                    FD                FB+/Stable    20     -
(ISSUER NOT COOPERATING; Rating Migrated)


LONG TERM RATINGS:
-------------------
ABC Fruits                             CC                CRISIL        30     Reaffirmed
                                                         BB/Stable

ABC Fruits                             Export Packing    CRISIL        80     Reaffirmed
                                       Credit            BB/Stable
ABC Fruits                             LT Loan           CRISIL        80     Reaffirmed
                                                         BB/Stable
ABC Fruits                             Proposed LT Bk    CRISIL        34.9   Reaffirmed
                                       Loan Fac          BB/Stable
ABC Fruits                             Proposed WC Fac   CRISIL        45.1   Reaffirmed
                                                         BB/Stable
Abhijit Auto Agency India Pvt Ltd      Rating Advisory   -             -      -
(CRISIL vide its publication dated April 22, 2020 highlighted the aspect of non-co-operation by
Abhijit Auto Agency India Private Limited.)
Aditya Timpack Pvt Ltd                 CC                CRISIL        80     Reaffirmed
                                                         BB+/Stable
Aditya Timpack Pvt Ltd                 Rupee TL          CRISIL        65.9   Reaffirmed
                                                         BB+/Stable
Air Mech Engineers Pvt Ltd             CC                CRISIL        10     -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB-/Stable)
Alankar Auto Sales and Service Pvt Ltd CC                CRISIL        145    Reaffirmed
                                                         BBB/Negative
(Outlook revised from Stable and rating reaffirmed)
Alankar Auto Sales and Service Pvt Ltd Electronic Dealer CRISIL        196    Reaffirmed
                                       Financing         BBB/Negative
                                       Scheme(e-DFS)
(Outlook revised from Stable and rating reaffirmed)
Alankar Auto Sales and Service Pvt Ltd Inventory Funding CRISIL        38.5   Reaffirmed
                                       Fac               BBB/Negative
(Outlook revised from Stable and rating reaffirmed)
Ascent Yarns Pvt Ltd                   CC                CRISIL        60     Reaffirmed
                                                         BBB-/Stable
(Issuer Not Cooperating)
Ascent Yarns Pvt Ltd                   Proposed LT Bk    CRISIL        43.5   Reaffirmed
                                       Loan Fac          BBB-/Stable
(Issuer Not Cooperating)
Ascent Yarns Pvt Ltd                   TL                CRISIL        37     Reaffirmed
                                                         BBB-/Stable
(Issuer Not Cooperating)
B Ghose and Co Pvt Ltd                 CC                CRISIL        95     -
                                                         B/Stable
(Migrated from CRISIL BB-/Stable ISSUER NOT COOPERATING)
B Ghose and Co Pvt Ltd                 Proposed LT Bk    CRISIL        30     -
                                       Loan Fac          B/Stable
(Migrated from CRISIL BB-/Stable ISSUER NOT COOPERATING)
Badve Autocomps Pvt Ltd                CC                CRISIL        1120   Reaffirmed
                                                         BBB+/Stable
Badve Autocomps Pvt Ltd                Proposed LT Bk    CRISIL        548.8  Reaffirmed
                                       Loan Fac          BBB+/Stable
Badve Autocomps Pvt Ltd                TL                CRISIL        2511.2 Reaffirmed
                                                         BBB+/Stable
Badve Autotech Pvt Ltd                 CC                CRISIL        300    Reaffirmed
                                                         BBB/Stable
Badve Autotech Pvt Ltd                 Proposed WC Fac   CRISIL        8.2    Reaffirmed
                                                         BBB/Stable
Badve Autotech Pvt Ltd                 TL                CRISIL        981.8  Reaffirmed
                                                         BBB/Stable
Bajaj Healthcare Ltd.                  Rating Advisory   -             -      -
(CRISIL vide its publication dated March 31, 2020 highlighted the aspect of non-co-operation by
Bajaj Healthcare Limited.)
Balmukund Concast Pvt Ltd              CC                CRISIL        180    -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB/Stable)
Balmukund Concast Pvt Ltd              Proposed CC Limit CRISIL        55     -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB/Stable)
Bansal Associates Ltd                  CC                CRISIL        180    Reaffirmed
                                                         BB/Stable
Banswara Syntex Ltd                    BG                CRISIL        187    -
                                                         BBB/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB/Stable ; Rating Withdrawn)
Banswara Syntex Ltd                    CC                CRISIL        755    -
                                                         BBB/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB/Stable ; Rating Withdrawn)
Banswara Syntex Ltd                    Export Packing    CRISIL        3495   -
                                       Credit            BBB/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB/Stable ; Rating Withdrawn)
Banswara Syntex Ltd                    LOC               CRISIL        593    -
                                                         BBB/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB/Stable ; Rating Withdrawn)
Banswara Syntex Ltd                    Proposed LT Bk    CRISIL        2034.6 -
                                       Loan Fac          BBB/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB/Stable ; Rating Withdrawn)
Banswara Syntex Ltd                    Rupee TL          CRISIL        1435.4 -
                                                         BBB/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB/Stable ; Rating Withdrawn)
Bhabani Pigments Pvt Ltd               CC                CRISIL        180.4  Reaffirmed
                                                         A-/Stable
BRGD Ingot Pvt Ltd                     CC                CRISIL        100    Reaffirmed
                                                         BBB-/Stable
BRGD Ingot Pvt Ltd                     Proposed FB Bk    CRISIL        115    Reaffirmed
                                       Limits            BBB-/Stable
BRGD Ingot Pvt Ltd                     Rupee TL          CRISIL        65     Reaffirmed
                                                         BBB-/Stable
Das and Sons Infracon Pvt Ltd          LT Loan           CRISIL        1.7    Reaffirmed
                                                         BB-/Stable
Das and Sons Infracon Pvt Ltd          Overdraft         CRISIL        60     Reaffirmed
                                                         BB-/Stable
East India Construction Co.            Proposed FB Bk    CRISIL        5      -
                                       Limits            BB+/Stable
(Issuer Not Cooperating)
ELA Educational Trust                  TL                CRISIL        120    Reaffirmed
                                                         B/Stable
Galaxy Life Care Services Pvt Ltd      Rating Advisory   -             -      -
(CRISIL vide its publication dated April 03, 2020 highlighted the aspect of non-co-operation by
Galaxy Life Care Services Private Limited.)
GDR Infratech                          Overdraft         CRISIL        60     -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB-/Stable)
Greta Energy Ltd                       CC                CRISIL        65     -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB-/Stable; Rating Withdrawn)
Greta Energy Ltd                       TL                CRISIL        100    -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB-/Stable; Rating Withdrawn)
Gujarat Agro Infrastructure Mega Food  LT Loan           CRISIL        291.7  Assigned
Park Pvt Ltd                                             BB/Stable
Harsh Constructions Pvt Ltd            Rating Advisory   -             -      -
(CRISIL vide its publication dated March 31, 2020 highlighted the aspect of non-co-operation by
Harsh Constructions Private Limited.)
J. K. Industries - Shamli              CC                CRISIL        67     Reaffirmed
                                                         B+/Stable
J. K. Industries - Shamli              Proposed FB Bk    CRISIL        3      Reaffirmed
                                       Limits            B+/Stable
K.Bala Narsimha Reddy Engineers and    Proposed LT Bk    CRISIL        180    Reaffirmed
Contractors Pvt Ltd                    Loan Fac          BB/Stable
Kailash Castings Ltd                   CC                CRISIL        55     Reaffirmed
                                                         BB-/Stable
Kasturchand Fertilisers Pvt Ltd        CC                CRISIL        80     Reaffirmed
                                                         BB-/Stable
Lorom India Corporation Pvt Ltd        Proposed FB Bk    CRISIL        10     -
                                       Limits            BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB/Stable)
Madhav Stelco Pvt Ltd                  Bill Discounting  CRISIL        50     Reaffirmed
                                                         BBB/Stable
(ISSUER NOT COOPERATING; Rating Migrated)
Madhav Stelco Pvt Ltd                  CC                CRISIL        200    Reaffirmed
                                                         BBB/Stable
(ISSUER NOT COOPERATING; Rating Migrated)
Ms. Raj Construction Co                Rating Advisory   -             -      -
(CRISIL vide its publication dated March 31, 2020 highlighted the aspect of non-co-operation by
Ms. Raj Construction Co.)
Muthus Golden Rice Products Pvt Ltd    CC                CRISIL D      75     -
(ISSUER NOT COOPERATING; Downgraded from CRISIL B/Stable ISSUER NOT COOPERATING)
Muthus Golden Rice Products Pvt Ltd    TL                CRISIL D      22     -
(ISSUER NOT COOPERATING; Downgraded from CRISIL B/Stable ISSUER NOT COOPERATING)
NPG Rice Mill Pvt Ltd                  Proposed LT Bk    CRISIL        219.2  Reaffirmed
                                       Loan Fac          BB+/Stable
Oam Industries (india) Pvt Ltd         CC                CRISIL        110    Assigned
                                                         AA-/Stable
Oam Industries (india) Pvt Ltd         TL                CRISIL        200    Assigned
                                                         AA-/Stable
P Rathnaiah                            LT Loan           CRISIL        57.5   Assigned
                                                         B+/Stable
Paragon Irrigation Pvt Ltd             CC                CRISIL        80     Reaffirmed
                                                         BBB/Stable
(Issuer Not Cooperating)
Paragon Irrigation Pvt Ltd             Proposed LT Bk    CRISIL        50     Reaffirmed
                                       Loan Fac          BBB/Stable
(Issuer Not Cooperating)
Paramhans Wires Pvt Ltd                CC                CRISIL        100    -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB-/Stable)
Paramhans Wires Pvt Ltd                Packing Credit    CRISIL        50     -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB-/Stable)
Paramhans Wires Pvt Ltd                Proposed FB Bk    CRISIL        29.3   -
                                       Limits            BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB-/Stable)
Paramhans Wires Pvt Ltd                TL                CRISIL        70.7   -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB-/Stable)
Parekh Aluminex Ltd                    CC^               CRISIL D      3450   Reaffirmed
(Issuer Not Cooperating. ^Account is classified as NPA with the banks)
Parekh Aluminex Ltd                    LOC^              CRISIL D      550    Reaffirmed
(Issuer Not Cooperating. ^Account is classified as NPA with the banks)
Parekh Aluminex Ltd                    LOC & BG          CRISIL D      900    Reaffirmed
(Issuer Not Cooperating)
Parekh Aluminex Ltd                    Proposed LT Bk    CRISIL D      8550   Reaffirmed
                                       Loan Fac^
(Issuer Not Cooperating. ^Account is classified as NPA with the banks)
Parekh Aluminex Ltd                    NCD               CRISIL D      1250   -
(Issuer Not Cooperating)
Protima Alu Company                    CC                CRISIL        49.1   Assigned
                                                         B+/Stable
Protima Alu Company                    Proposed CC Limit CRISIL        5.9    Assigned
                                                         B+/Stable
Roop Automotives Ltd                   Proposed FB Bk    CRISIL A      53.8   Reaffirmed
                                       Limits
(Continues on Rating Watch with Developing Implications)
Roop Automotives Ltd                   TL                CRISIL A      549.2  Reaffirmed
(Continues on Rating Watch with Developing Implications)
Roop Automotives Ltd                   WC Fac            CRISIL A      1790   Reaffirmed
(Continues on Rating Watch with Developing Implications)
Salvo Explosives and Chemicals Pvt Ltd CC                CRISIL        80     -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB/Stable)
Salvo Explosives and Chemicals Pvt Ltd Proposed LT Bk    CRISIL        250    -
                                       Loan Fac          BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB/Stable)
Sarins                                CC                CRISIL        15     Reaffirmed
                                                         B+/Stable
Sarins                                WC Demand Loan    CRISIL        20     Reaffirmed
                                                         B+/Stable
Sekisui DLJM Molding Pvt Ltd           CC                CRISIL        60     -
                                                         A-/Stable
Sekisui DLJM Molding Pvt Ltd           Proposed LT Bk    CRISIL        20     -
                                       Loan Fac          A-/Stable
Shri Lakshmi Agro Foods Pvt Ltd        TL                CRISIL        192.5  -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BBB-/Stable)
Sky Automobiles                        CC                CRISIL        130    Reaffirmed
                                                         BB/Stable
Sky Automobiles                        Proposed FB Bk    CRISIL        46.1   Reaffirmed
                                       Limits            BB/Stable
Sky Automobiles                        TL                CRISIL        198.4  Assigned
                                                         BB/Stable
Sri Krishna I-Tech and Management      LT Loan           CRISIL        250    Withdrawn
Solutions Pvt Ltd                                        BBB-/Stable
Sri Rajendra Ginners Pvt Ltd           CC                CRISIL        140    Reaffirmed
                                                         BB-/Stable
Sri Rajendra Ginning Factory           CC                CRISIL        110    Reaffirmed
                                                         BB-/Stable
SUL Steel Pvt Ltd                      CC                CRISIL        230    Reaffirmed
                                                         BBB-/Stable
SUL Steel Pvt Ltd                      Proposed FB Bk    CRISIL        170    Reaffirmed
                                       Limits            BBB-/Stable
Supermac Industries India Ltd          CC                CRISIL        70     -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB-/Stable)
Supermac Industries India Ltd          TL                CRISIL        20     -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB-/Stable)
Suraksha Diagnostic Pvt Ltd            CC                CRISIL        10     Reaffirmed
                                                         BBB/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB/Positive)
Suraksha Diagnostic Pvt Ltd            LT Loan           CRISIL        430    Reaffirmed
                                                         BBB/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB/Positive)
Suraksha Diagnostic Pvt Ltd            Proposed LT Bk    CRISIL        60     Reaffirmed
                                       Loan Fac          BBB/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB/Positive)
Suriya Spinning Mills                  CC                CRISIL        45     -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BBB-/Stable)
Suriya Spinning Mills                  Proposed LT Bk    CRISIL        22.3   -
                                       Loan Fac          BB+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BBB-/Stable)
Suriya Spinning Mills                  TL                CRISIL        17.7   -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BBB-/Stable)
Swastid Engineering Pvt Ltd            TL                CRISIL        500    Reaffirmed
                                                         BBB/Stable
Swastik TradeLink Pvt Ltd              CC                CRISIL D      80     -
(ISSUER NOT COOPERATING Downgraded from CRISIL B+/Stable)
Titan Paints And Chemicals Pvt Ltd     CC                CRISIL        75     -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BBB-/Stable)
Titan Paints And Chemicals Pvt Ltd     Proposed LT Bk    CRISIL        7.3    -
                                       Loan Fac          BB+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BBB-/Stable)
Ultra Pipes                            CC                CRISIL        92     Reaffirmed
                                                         BB+/Stable
Ultra Pipes                            LT Loan           CRISIL        20     Reaffirmed
                                                         BB+/Stable
Ultra Pipes                            Proposed LT Bk    CRISIL        38     Assigned
                                       Loan Fac          BB+/Stable
Uttam Sucrotech International Pvt Ltd  CC/ Overdraft Fac CRISIL        200    -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL BBB-/Positive)
Uttranchal Welfare Society             LT Loan           CRISIL        15     Reaffirmed
                                                         BB+/Stable
--------------------------------------------------------------------------------------------
$: 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)
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