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CRISIL ratings for Indian debt instruments-Aug 28

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


COMPANY                                INSTRUMENT        RATING        AMOUNT MOVEMENT
                                                                      (RS.MLN)
------                                 ----------        ------        -----  ---------
SHORT TERM RATINGS:
-------------------
Academy of Management Studies          BG                CRISIL A4+    15     Assigned
Ace Hardware Pvt Ltd                   Export Packing    CRISIL A4+    85     -
                                       Credit & Export
                                       Bills Negotiation/Foreign Bill discounting
(ISSUER NOT COOPERATING; Migrated from 'CRISIL A2')
Agarwal Company                        BG                CRISIL A4     260    -
(ISSUER NOT COOPERATING; Revised from 'CRISIL A4+)
Aishwarya Feeds                        Packing Credit    CRISIL A4     40     -
Arya Vaidya Sala, Kottakkal            BG                CRISIL A1+    8      Reaffirmed
Arya Vaidya Sala, Kottakkal            Bill Purchase     CRISIL A1+    2.5    Reaffirmed
                                       Discounting Fac
Arya Vaidya Sala, Kottakkal            Overdraft         CRISIL A1+    104.3  Reaffirmed
Ashoka Developers and Builders Ltd     BG                CRISIL A4     5      Reaffirmed
(Issuer Not Cooperating)
Ashoka Developers and Builders Ltd     Proposed BG       CRISIL A4     15     Reaffirmed
(Issuer Not Cooperating)
Auro Laboratories Ltd                  BG                CRISIL A3     6      Reaffirmed
Auro Laboratories Ltd                  LOC               CRISIL A3     50     Reaffirmed
Avana Logistek Ltd                     BG                CRISIL A2     190    Reaffirmed
BDG Metal and Power Ltd                BG                CRISIL A2     500    Reaffirmed
BDG Metal and Power Ltd                Non-FBL           CRISIL A2     1400   Reaffirmed
Bharat Oman Refineries Ltd             Non-FBL           CRISIL A1+    49500  Reaffirmed
Bharat Oman Refineries Ltd             ST Bk Fac         CRISIL A1+    450    Reaffirmed
Bharat Oman Refineries Ltd             CP (Enhanced from CRISIL A1+    8000   Reaffirmed
                                       Rs.300 Crore)
Blue Star Diamonds Pvt Ltd             Proposed ST Bk    CRISIL A4+    2240   -
                                       Loan Fac
(Migrated from CRISIL A4+ ISSUER NOT COOPERATING')
Bucon Infratech Pvt Ltd                BG                CRISIL A4     100    Reaffirmed
Comt Constructions Pvt Ltd             BG                CRISIL A3     570    Reaffirmed
Deepak Nitrite Ltd                     Non-FBL           CRISIL A1+    1370   Reaffirmed
Deepak Nitrite Ltd                     Non-FBL*          CRISIL A1+    330    Reaffirmed
(*interchangeable with fund based limits)
Eagle Hunter Solutions Ltd             BG                CRISIL A3     130    Reaffirmed
Easyaccess Financial Services Ltd      CP                CRISIL A1+    500    Withdrawn
Eternis Fine Chemicals Ltd             Export Bill       CRISIL A1     900    Reaffirmed
                                       Purchase
                                       -Discounting#
(#Fully interchangeable with letter of credit and export bill discounting)
Eternis Fine Chemicals Ltd             Export Bill       CRISIL A1     300    Reaffirmed
                                       Purchase
                                       Discounting^
(^Fully interchangeable with import documentary credit and buyer's credit)
Eternis Fine Chemicals Ltd             Export Finance    CRISIL A1     610    Reaffirmed
                                       Limit**
(**Fully interchangeable with letter of credit and buyer's credit)
Eternis Fine Chemicals Ltd             Export Packing    CRISIL A1     1025   Reaffirmed
                                       Credit#
(#Fully interchangeable with letter of credit and export bill discounting)
Eternis Fine Chemicals Ltd             LOC$              CRISIL A1     250    Reaffirmed
($Fully interchangeable with export packing credit and export bill discounting)
IPCA Laboratories Ltd                  CP                CRISIL A1+    500    Reaffirmed
Isgec Titan Metal Fabricators Pvt Ltd  LOC & BG          CRISIL A1+    300    Reaffirmed
Jagdale Industries Pvt Ltd             LOC & BG          CRISIL A4+    130    -
(Downgraded from 'CRISIL A3')
Jai Surgicals Ltd                      BG                CRISIL A3     6      -
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING)
Jai Surgicals Ltd                      Inland/Import LOC CRISIL A3     6      -
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING)
Jubilant Life Sciences Ltd             CP                CRISIL A1+    4000   Reaffirmed
Kaveri Infraprojects Pvt Ltd           BG                CRISIL A4+    300    -
(ISSUER NOT COOPERATING; Migrated from 'CRISIL A3)
Kotak Mahindra Investments Ltd         CP Programme(IPO  CRISIL A1+    20000  -
                                       Financing)*
(*Assigned for application on proprietary account and is over and above Rs 7,000 crore
commercial paper programme)
Kotak Mahindra Investments Ltd         CP                CRISIL A1+    70000  -
Krishna Construction                   BG                CRISIL A4+    1190   -
(Issuer Not Cooperating)
Leaspin Textile LLP                    BG                CRISIL A3     20     Reaffirmed
MacBrout Engineering Pvt Ltd           BG                CRISIL A4+    3.5    -
(ISSUER NOT COOPERATING; Migrated from 'CRISIL A2)
MacBrout Engineering Pvt Ltd           Post Shipment     CRISIL A4+    60     -
                                       Credit^
(ISSUER NOT COOPERATING; Migrated from 'CRISIL A2'. 
^Sublimit of Pre Shipment of Rs 6 crore)
Mahendra Roadlines Pvt Ltd             BG                CRISIL A3     10     Assigned
(Assigned; Suspension Revoked)
Mutual Automotive Pvt Ltd              BG                CRISIL A1     150    Reaffirmed
Naaraayani Sons Pvt Ltd                BG                CRISIL A3+    200    Reaffirmed
New Horizons Pvt Ltd                   Export Bill       CRISIL A4+    10     Reaffirmed
                                       Negotiation
New Horizons Pvt Ltd                   Export Bill       CRISIL A4+    245    Reaffirmed
                                       Purchase
New Horizons Pvt Ltd                   Packing Credit    CRISIL A4+    128    Reaffirmed

New Horizons Pvt Ltd                   Standby Export    CRISIL A4+    76.6   Reaffirmed
                                       Packing Credit
Ojus Power and Technologies Pvt Ltd    LOC & BG          CRISIL A4+    20     Reaffirmed
Ovobel Foods Ltd                       Foreign Bill      CRISIL A4+    77     -
                                       Discounting
(migrated from 'CRISIL A4 ISSUER NOT COOPERATING)
Ovobel Foods Ltd                       Packing Credit    CRISIL A4+    20     -
(migrated from 'CRISIL A4 ISSUER NOT COOPERATING)
Priyadhar Intl Marketing Pvt Ltd       BG                CRISIL A4     10     -
(Migrated from 'CRISIL A4 ISSUER NOT COOPERATING')
Royal Embroidery Threads Pvt Ltd       BG                CRISIL A4+    5      Assigned
(Assigned; Suspension Revoked)
RVM Charitable Trust                   BG                CRISIL A4+    95.5   Assigned
RVM Charitable Trust                   Overdraft         CRISIL A4+    78     Assigned
Shivam Hi-Tech Steels Pvt Ltd          BG                CRISIL A4+    60     -
(Issuer Not Cooperating)
Shivam Hi-Tech Steels Pvt Ltd          Foreign Exchange  CRISIL A4+    1.8    -
                                       Forward
(Issuer Not Cooperating)
Shivam Hi-Tech Steels Pvt Ltd          LOC               CRISIL A4+    40     -
(Issuer Not Cooperating)
STCI Primary Dealer Ltd                ST Debt Programme CRISIL A1+    2000   Reaffirmed
Swati Industries                       Bill Purchase     CRISIL A4     80     Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Swati Industries                       CC                CRISIL A4     60     Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Swati Industries                       LOC               CRISIL A4     50     Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Swati Industries                       Packing Credit    CRISIL A4     165    Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Swati Industries                       TL                CRISIL A4     45     Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Titanium Equipment and Anode           BG                CRISIL A4+    440    -
Manufacturing Co. Ltd
(ISSUER NOT COOPERATING; Migrated from 'CRISIL A3)
Titanium Equipment and Anode           Inland/Import LOC CRISIL A4+    200    -
Manufacturing Co. Ltd
(ISSUER NOT COOPERATING; Migrated from 'CRISIL A3)
Tribeni Constructions Ltd              BG                CRISIL A2     1040   Reaffirmed
Tribeni Constructions Ltd              Non-FBL           CRISIL A2     970    Reaffirmed
Utsah Engineering Pvt Ltd              BG                CRISIL A3+    20     Reaffirmed
Utsah Engineering Pvt Ltd              LOC               CRISIL A3+    20     Reaffirmed
YES Bank Ltd                           CDs               CRISIL A2+    200000 -
(Upgraded from 'CRISIL A2')
 

MEDIUM TERM RATINGS:
-------------------
Lakshmi Float Glass Ltd                FD                FB+/Stable    120    -
 

LONG TERM RATINGS:
-------------------
Academy of Management Studies          CC                CRISIL        77.5   Assigned
                                                         BB-/Stable
Agarwal Company                        Secured Overdraft CRISIL        80     -
                                       Fac               B/Stable
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB+/Stable)
Aishwarya Feeds                        CC                CRISIL        300    Reaffirmed
                                                         B+/Stable
Aishwarya Feeds                      CC & WC demand loan CRISIL        95     Reaffirmed
                                                         B+/Stable
Aishwarya Feeds                        LT Loan           CRISIL        22.1   -
                                                         B+/Stable
Aishwarya Feeds                        Proposed LT Bk    CRISIL        2.9    Assigned
                                       Loan Fac          B+/Stable
Anmol India Ltd                        CC                -             230    Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Arya Vaidya Sala, Kottakkal            Proposed LT Bk    CRISIL A+     66.1   Reaffirmed
                                       Loan Fac
Arya Vaidya Sala, Kottakkal            CC                CRISIL        100    Reaffirmed
                                                         A+/Stable
Ashoka Developers and Builders Ltd    Proposed Overdraft CRISIL        45     Reaffirmed
                                       Fac               B/Stable
(Issuer Not Cooperating)
Ashoka Developers and Builders Ltd     Secured Overdraft CRISIL        180    Reaffirmed
                                       Fac               B/Stable
(Issuer Not Cooperating)
Auro Laboratories Ltd                  CC                CRISIL        45     Reaffirmed
                                                         BBB-/Stable
Auro Laboratories Ltd                  Export Packing    CRISIL        45     Reaffirmed
                                       Credit            BBB-/Stable
Auro Laboratories Ltd                  LT Loan           CRISIL        34     Reaffirmed
                                                         BBB-/Stable
Avana Logistek Ltd                     CC                CRISIL BBB+   200    Reaffirmed
Avana Logistek Ltd                     Loan Against      CRISIL BBB+   231.8  Reaffirmed
                                       Property
Avana Logistek Ltd                     Proposed LT Bk    CRISIL BBB+   401.5  Reaffirmed
                                       Loan Fac
Avana Logistek Ltd                     WC TL             CRISIL BBB+   66.7   Reaffirmed
Avigna Properties Pvt Ltd              Proposed LT Bk    -             700    Withdrawn
                                       Loan Fac
(Issuer Not Cooperating)
BDG Metal and Power Ltd                CC                CRISIL        1029   Reaffirmed
                                                         BBB+/Stable
BDG Metal and Power Ltd                Proposed FB Bk    CRISIL        64.7   Reaffirmed
                                       Limits            BBB+/Stable
BDG Metal and Power Ltd                TL                CRISIL        380    Assigned
                                                         BBB+/Stable
Bharat Oman Refineries Ltd             External          CRISIL AA+    8646.4 Reaffirmed
                                       Commercial
                                       Borrowings
(Continues on 'Rating watch with Developing Implications)
Bharat Oman Refineries Ltd             FB Fac            CRISIL AA+    20000  Reaffirmed
(Continues on 'Rating watch with Developing Implications')
Bharat Oman Refineries Ltd             FB Fac*           CRISIL AA+    12500  Reaffirmed
(*Fully interchangeable with non-fund based limits)
Bharat Oman Refineries Ltd             Proposed FB Bk    CRISIL AA+    28982.6Reaffirmed
                                       Limits
(Continues on 'Rating watch with Developing Implications')
Bharat Oman Refineries Ltd             TL                CRISIL AA+    43791  Reaffirmed
(Continues on 'Rating watch with Developing Implications')
Bharat Oman Refineries Ltd             NCD               CRISIL AA+    6000   -
Bhavani Auto Distributors              CC                CRISIL        120    Reaffirmed
                                                         BB/Stable
Bilaspur Mining Industries Pvt Ltd     CC                CRISIL        160    -
                                                         B/Stable
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB+/Stable)
Bilaspur Mining Industries Pvt Ltd     Proposed Standby  CRISIL        9      -
                                       Line of Credit    B/Stable
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB+/Stable)
Bilaspur Mining Industries Pvt Ltd     TL                CRISIL        251    -
                                                         B/Stable
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB+/Stable)
Blue Star Diamonds Pvt Ltd             Export Packing    CRISIL        4360   -
                                       Credit & Export   BB+/Stable
                                       Bills Negotiation/Foreign Bill discounting
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
Bucon Infratech Pvt Ltd                Overdraft         CRISIL        140    Reaffirmed
                                                         B+/Stable
C. K. Velu                             Overdraft         CRISIL        50     Reaffirmed
                                                         B+/Stable
Comt Constructions Pvt Ltd             CC                CRISIL        75     Reaffirmed
                                                         BBB-/Stable
Comt Constructions Pvt Ltd             Drop Line         CRISIL        10     Reaffirmed
                                       Overdraft Fac     BBB-/Stable
Comt Constructions Pvt Ltd             Proposed LT Bk    CRISIL        105    Reaffirmed
                                       Loan Fac          BBB-/Stable
Deepak Nitrite Ltd                     FB Fac            CRISIL        3000   Reaffirmed
                                                         AA-/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Deepak Nitrite Ltd                     Proposed FB Bk    CRISIL        1225   Reaffirmed
                                       Limits            AA-/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Deepak Nitrite Ltd                     TL                CRISIL        1575   Assigned
                                                         AA-/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Dev Priya Industries Pvt Ltd           BG                -             20     Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Dev Priya Industries Pvt Ltd           CC                -             300    Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Dev Priya Industries Pvt Ltd           Proposed LT Bk    -             64.8   Withdrawn
                                       Loan Fac
(ISSUER NOT COOPERATING; Rating Withdrawn)
Dev Priya Industries Pvt Ltd           Rupee TL          -             115.2  Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Eagle Hunter Solutions Ltd             Overdraft         CRISIL        140    -
                                                         BBB-/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Easyaccess Financial Services Ltd      Proposed LT Bk    -             900    Withdrawn
                                       Loan Fac
Easyaccess Financial Services Ltd      WC Demand Loan*   -             1100   Withdrawn
(*Interchangeable with cash credit / overdraft / foreign currency non-resident bank (FCNR-B)
loans/short-term loans)
Endoc Lifecare Pvt Ltd                 CC                CRISIL        90     -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB-/Stable)
Endoc Lifecare Pvt Ltd                 Proposed LT Bk    CRISIL        10     -
                                       Loan Fac          BB+/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB-/Stable)
Eternis Fine Chemicals Ltd             CC@               CRISIL        280    Reaffirmed
                                                         A/Stable
(@Fully interchangeable with export finance limit, letter of credit, and buyer's credit)
Eternis Fine Chemicals Ltd             External          CRISIL        540    Reaffirmed
                                       Commercial        A/Stable
                                       Borrowings
Eternis Fine Chemicals Ltd             FCNR Loan         CRISIL        159.5  Reaffirmed
                                                         A/Stable
Eternis Fine Chemicals Ltd             Foreign Currency TCRISIL        320    Reaffirmed
                                                         A/Stable
Eternis Fine Chemicals Ltd             Rupee TL          CRISIL        600    Reaffirmed
                                                         A/Stable
Eternis Fine Chemicals Ltd             TL                CRISIL        329.5  Reaffirmed
                                                         A/Stable
Isgec Titan Metal Fabricators Pvt Ltd  CC & WC demand loan CRISIL AA   100    Reaffirmed
J K Polymers                           CC                CRISIL        35     Assigned
                                                         B+/Stable
J K Polymers                           TL                CRISIL        45     Assigned
                                                         B+/Stable
Jagdale Industries Pvt Ltd             CC                CRISIL        400    -
                                                         BB+/Stable
(Downgraded from 'CRISIL BBB-/Stable')
Jagdale Industries Pvt Ltd             Proposed FB Bk    CRISIL        127.5  -
                                       Limits            BB+/Stable
(Downgraded from 'CRISIL BBB-/Stable')
Jai Surgicals Ltd                      Foreign Bill      CRISIL        30     -
                                       Discounting       BBB-/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING)
Jai Surgicals Ltd                      Packing Credit    CRISIL        35     -
                                                         BBB-/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING)
Jai Surgicals Ltd                      Proposed CC Limit CRISIL        10     -
                                                         BBB-/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING)
Jayanth Industries                     CC                CRISIL        52     -
                                                         BB-/Stable
(Upgraded from 'CRISIL B+/Stable')
Jayanth Industries                     Proposed LT Bk    CRISIL        48     -
                                       Loan Fac          BB-/Stable
(Upgraded from 'CRISIL B+/Stable')
Jayanth Industries                     Warehouse Receipts CRISIL       20     -
                                                         BB-/Stable
(Upgraded from 'CRISIL B+/Stable')
Jubilant Life Sciences Ltd             TL                CRISIL AA     5100   Reaffirmed
(Continues on 'Rating Watch with Developing Implications')
Jubilant Life Sciences Ltd             NCD               CRISIL AA     1000   -
(Continues on 'Rating watch with Developing Implications')
Karnal Motors Pvt Ltd                  Rating Advisory   -             -      -
(CRISIL vide its publication dated August 21, 2020 highlighted the aspect of non-co-operation by
Karnal Motors Private Limited.)
Kaveri Infraprojects Pvt Ltd           CC                CRISIL        100    -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB-/Stable)
Kaveri Infraprojects Pvt Ltd           Proposed BG       CRISIL        200    -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB-/Stable)
Kaveri Infraprojects Pvt Ltd           Proposed CC Limit CRISIL        50     -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB-/Stable)
Kaveri Infraprojects Pvt Ltd           TL                CRISIL        20     -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB-/Stable)
Kotak Mahindra Investments Ltd         LT Loan           CRISIL        6000   Reaffirmed
                                                         AAA/Stable
Kotak Mahindra Investments Ltd         Proposed LT Bk    CRISIL        3000   Reaffirmed
                                       Loan Fac**        AAA/Stable
(**Interchangeable with short term facilities)
Kotak Mahindra Investments Ltd         WC Demand Loan    CRISIL        11000  Assigned
                                                         AAA/Stable
Kotak Mahindra Investments Ltd         NCD               CRISIL        52014  -
                                                         AAA/Stable
Kotak Mahindra Investments Ltd         Subordinated Debt CRISIL        2000   -
                                       Issue             AAA/Stable
Kotak Mahindra Investments Ltd         LT Principal      CRISIL PP-MLD 5000   -
                                       Protected Market  AAAr/Stable
                                       Linked Debentures
Krishna Construction                   Overdraft         CRISIL        150    -
                                                         BB+/Stable
(Issuer Not Cooperating)
Krishna Construction                   Proposed LT Bk    CRISIL        660    -
                                       Loan Fac          BB+/Stable
(Issuer Not Cooperating)
Kudgi Transmission Ltd                 NCD               CRISIL        14090  Reaffirmed
                                                         AAA/Stable
Kudgi Transmission Ltd                 NCD               CRISIL        360    Withdrawn
                                                         AAA/Stable
Kumar Autowheels Pvt Ltd               CC                CRISIL        80     Reaffirmed
                                                         BB/Stable
Kumar Autowheels Pvt Ltd               Electronic Dealer CRISIL        100    Reaffirmed
                                       Financing         BB/Stable
                                       Scheme(e-DFS)
Kumar Autowheels Pvt Ltd               Proposed FB Bk    CRISIL        15     Reaffirmed
                                       Limits            BB/Stable
Lakshmi Float Glass Ltd                CC                CRISIL        300    Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Lakshmi Float Glass Ltd                WC Demand Loan    CRISIL        200    Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Laxmi Polytex Pvt Ltd                  CC                -             70     Withdrawn
(Issuer Not Cooperating)
Leaspin Textile LLP                    CC                CRISIL        150    Reaffirmed
                                                         BBB-/Stable
Leaspin Textile LLP                    TL                CRISIL        634.9  Reaffirmed
                                                         BBB-/Stable
Linde India Ltd                        TL                -             3100   Withdrawn
Linde India Ltd                        Overdraft*        CRISIL        6481.8 Reaffirmed
                                                         AA/Stable
(*Interchangeable with fund-based and non-fund-based bank facilities)
MacBrout Engineering Pvt Ltd           Proposed WC Fac   CRISIL        38.4   -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB+/Stable')
MacBrout Engineering Pvt Ltd           WC TL             CRISIL        158.1  -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB+/Stable')
Magnum Spinning Millss India Pvt Ltd   BG                -             1.5    Withdrawn
Magnum Spinning Millss India Pvt Ltd   CC                -             90     Withdrawn
Magnum Spinning Millss India Pvt Ltd   LT Loan           -             130    Withdrawn
Magnum Spinning Millss India Pvt Ltd   Proposed LT Bk    -             117.9  Withdrawn
                                       Loan Fac
Magnum Spinning Millss India Pvt Ltd   Standby Line of   -             14     Withdrawn
                                       Credit
Mahalaxmi Food Products                CC                CRISIL D      80     Reaffirmed
(Issuer Not Cooperating)
Mahalaxmi Food Products                Project Loan      CRISIL D      37.5   Reaffirmed
(Issuer Not Cooperating)
Mahalaxmi Food Products                Proposed TL       CRISIL D      8      Reaffirmed
(Issuer Not Cooperating)
Mahalaxmi Food Products                TL                CRISIL D      74.5   Reaffirmed
(Issuer Not Cooperating)
Mahendra Roadlines Pvt Ltd             CC                CRISIL        180    Assigned
                                                         BBB-/Stable
(Assigned; Suspension Revoked)
Mohan Motor Udyog Pvt Ltd              CC                CRISIL D      650    Reaffirmed
(Issuer Not Cooperating)
Montage Enterprises Pvt Ltd.           Rating Advisory   -             -      -
(CRISIL vide its publication dated July 28, 2020 highlighted the aspect of non-co-operation by
Montage Enterprises Private Limited.)
Mutual Automotive Pvt Ltd              CC*               CRISIL        280    Reaffirmed
                                                         A/Negative
(*Fully fungible)
Mutual Automotive Pvt Ltd              CC                CRISIL        100    Reaffirmed
                                                         A/Negative
Mutual Automotive Pvt Ltd              Proposed LT Bk    CRISIL        220    Reaffirmed
                                       Loan Fac          A/Negative
Naaraayani Sons Pvt Ltd                CC                CRISIL        200    Reaffirmed
                                                         BBB/Stable
Nandnandan Silk Mills Pvt Ltd          CC                -             67.5   Withdrawn
(Issuer Not Cooperating)
Narayankrupa Reality                   TL                CRISIL        139    Withdrawn
                                                         BB-/Stable
(ISSUER NOT COOPERATING; Rating Withdrawn)
Oban Fashions Pvt Ltd                  CC                CRISIL        300    Reaffirmed
                                                         BBB+/Stable
Ojus Power and Technologies Pvt Ltd    CC                CRISIL        100    Reaffirmed
                                                         BB+/Stable
Ojus Power and Technologies Pvt Ltd    TL                CRISIL        60     Reaffirmed
                                                         BB+/Stable
Parksons Cartamundi Pvt Ltd            CC                CRISIL        185.2  Reaffirmed
                                                         BBB/Stable
(Outlook revised from 'Positive' and rating reaffirmed)
Parksons Cartamundi Pvt Ltd            Proposed LT Bk    CRISIL        155.6  Reaffirmed
                                       Loan Fac          BBB/Stable
(Outlook revised from 'Positive' and rating reaffirmed)
Parksons Cartamundi Pvt Ltd            TL                CRISIL        20     Reaffirmed
                                                         BBB/Stable
(Outlook revised from 'Positive' and rating reaffirmed)
Peethambra Granites Pvt Ltd            TL                CRISIL        200    -
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB/Stable)
Perfect CropScience Pvt Ltd            CC                CRISIL        82.5   Assigned
                                                         BB+/Stable
Perfect CropScience Pvt Ltd            TL                CRISIL        15     Assigned
                                                         BB+/Stable
Priyadhar Intl Marketing Pvt Ltd       CC                CRISIL        17     -
                                                         B/Stable
(Migrated from 'CRISIL B/Stable ISSUER NOT COOPERATING')
Priyadhar Intl Marketing Pvt Ltd       Proposed LT Bk    CRISIL        73     -
                                       Loan Fac          B/Stable
(Migrated from 'CRISIL B/Stable ISSUER NOT COOPERATING')
RDB Textiles Ltd                       Proposed LT Bk    CRISIL        90     Assigned
                                       Loan Fac          BBB/Stable
Royal Embroidery Threads Pvt Ltd       CC                CRISIL        204.5  Assigned
                                                         BB-/Stable
(Assigned; Suspension Revoked)
Royal Embroidery Threads Pvt Ltd       Proposed WC Fac   CRISIL        3.5    Assigned
                                                         BB-/Stable
(Assigned; Suspension Revoked)
Royal Embroidery Threads Pvt Ltd       LT Loan           CRISIL        37     Assigned
                                                         BB-/Stable
(Assigned; Suspension Revoked)
RVM Charitable Trust                   LT Loan           CRISIL        306.3  Assigned
                                                         BB-/Stable
Shija Hospitals and Research Institute TL                CRISIL        230    Reaffirmed
Pvt Ltd                                                  BB+/Stable
Shivam Hi-Tech Steels Pvt Ltd          CC                CRISIL        145    -
                                                         BB+/Stable
(Issuer Not Cooperating)
Shivam Hi-Tech Steels Pvt Ltd          Proposed LT Bk    CRISIL        223.2  -
                                       Loan Fac          BB+/Stable
(Issuer Not Cooperating)
Shivangi Agro India Pvt Ltd            CC                CRISIL        180    -
                                                         B+/Stable
(Migrated from CRISIL B/Stable  ISSUER NOT COOPERATING)
Shivangi Agro India Pvt Ltd            Proposed CC Limit CRISIL        20     -
                                                         B+/Stable
(Migrated from CRISIL B/Stable  ISSUER NOT COOPERATING)
Shreyas Shipping and Logistics Ltd     CC                CRISIL BBB+   870    Reaffirmed
(Placed on 'Rating Watch with Developing Implications')
Shreyas Shipping and Logistics Ltd     Foreign Currency TCRISIL BBB+   1817.6 Reaffirmed
(Placed on 'Rating Watch with Developing Implications')
Shreyas Shipping and Logistics Ltd     Proposed LT Bk    CRISIL BBB+   1472.4 Reaffirmed
                                       Loan Fac
(Placed on 'Rating Watch with Developing Implications')
Shubhi Agro Industries Ltd             BG                CRISIL D      10     Reaffirmed
(Issuer Not Cooperating)
Shubhi Agro Industries Ltd             CC                CRISIL D      200    Reaffirmed
(Issuer Not Cooperating)
Shubhi Agro Industries Ltd             Proposed LT Bk    CRISIL D      535.5  Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Shubhi Agro Industries Ltd             TL                CRISIL D      229.5  Reaffirmed
(Issuer Not Cooperating)
Shubhi Agro Industries Ltd             NCD               CRISIL D      525    -
Swarna Tollway Pvt Ltd                 NCD               CRISIL        945    Reaffirmed
                                                         AAA/Stable
T.P.S. Sekar                           BG                -             10     Withdrawn
(Issuer Not Cooperating)
T.P.S. Sekar                           CC                -             55     Withdrawn
(Issuer Not Cooperating)
T.P.S. Sekar                           LT Loan           -             9      Withdrawn
(Issuer Not Cooperating)
Tara investments Ltd                   LT Bk Fac         CRISIL        70     Reaffirmed
                                                         BB+/Stable
Tara investments Ltd                   LT Loan           CRISIL        80     Assigned
                                                         BB+/Stable
Temple Packaging Pvt Ltd               External          -             130    Withdrawn
                                       Commercial
                                       Borrowings
Titanium Equipment and Anode           CC                CRISIL        260    -
Manufacturing Co. Ltd                                    BB+/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB-/Positive)
Tribeni Constructions Ltd              CC                CRISIL        350    Reaffirmed
                                                         BBB+/Stable
Tribeni Constructions Ltd              LT Loan           CRISIL        200    Reaffirmed
                                                         BBB+/Stable
Tribeni Constructions Ltd              Standby Line of   CRISIL        140    Reaffirmed
                                       Credit            BBB+/Stable
Trident Creation Pvt Ltd               Drop Line         CRISIL        70     Reaffirmed
                                       Overdraft Fac     BB+/Stable
Trident Creation Pvt Ltd               Secured Overdraft CRISIL        230    Reaffirmed
                                       Fac               BB+/Stable
Utsah Engineering Pvt Ltd              CC                CRISIL        90     Reaffirmed
                                                         BBB/Stable
Utsah Engineering Pvt Ltd              Proposed TL       CRISIL        30     Reaffirmed
                                                         BBB/Stable
Vasudev Alucan Pvt Ltd                 CC                CRISIL        50     -
                                                         B-/Stable
(Downgraded from 'CRISIL B/Stable')
Vasudev Alucan Pvt Ltd                 TL                CRISIL        35     -
                                                         B-/Stable
(Downgraded from 'CRISIL B/Stable')
Vinit Dyeing India Ltd                 CC                CRISIL        55     -
                                                         B/Stable
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB/Stable)
Vinit Dyeing India Ltd                 LT Loan           CRISIL        45     -
                                                         B/Stable
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB/Stable)
Vishnu Vandana Rice Industries         Open CC           CRISIL        78.5   Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Vishnu Vandana Rice Industries         Proposed LT Bk    CRISIL        6.5    Reaffirmed
                                       Loan Fac          B/Stable
(Issuer Not Cooperating)
Vividhaalay Services Pvt Ltd           NCD             CRISIL B/Stable 37.5   -
(Issuer did not cooperate; based on best-available information)
YES Bank Ltd                           Infrastructure    CRISIL        37800  Reaffirmed
                                       Bonds             BBB/Stable
YES Bank Ltd                           Tier II Bonds     CRISIL        139410 Reaffirmed
                                       (Under Basel III) BBB/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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