December 18, 2019 / 10:58 AM / a month ago

CRISIL ratings for Indian debt instruments-Dec 18

    Dec 18 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 17, 2019.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A.C. Roy and Co.                        BG                 CRISIL A3      465     Assigned
Aadhi Vinayaga Spinners                 LOC                CRISIL A4+     30      Reaffirmed
(Issuer Not Cooperating)
Abhirami Pet Industries Pvt Ltd         LOC                CRISIL A4+     30      Reaffirmed
(Issuer Not Cooperating)
Abirami Enterprises                     LOC                CRISIL A4+     25      Reaffirmed
(Issuer Not Cooperating)
Abirami Enterprises                     ST Bk Fac          CRISIL A4+     7.5     Reaffirmed
(Issuer Not Cooperating)
Abirami Enterprises                     BG                 CRISIL A4+     2.5     Reaffirmed
(Issuer Not Cooperating)
Airtec Electrovision Pvt Ltd            Proposed NFBL      CRISIL A4+     30      Reaffirmed
(Issuer Not Cooperating)
Akeyem Sons                             Bill Discounting   CRISIL A4+     10      Reaffirmed
                                        under LOC
(Issuer Not Cooperating)
Approcopp Engineering Pvt Ltd           LOC                CRISIL A4      35      Reaffirmed
(Issuer Not Cooperating)
Auto Mech (India) Pvt Ltd               Overdraft          CRISIL A4+     30      Reaffirmed
(Issuer Not Cooperating)
AVS International Pvt Ltd               BG                 CRISIL A4      6       Reaffirmed
(Issuer Not Cooperating)
Baba Ispat Pvt Ltd                      BG                 CRISIL A4+     5.8     Reaffirmed
(Issuer Not Cooperating)
Bagoosa Food Products Pvt Ltd           BG                 CRISIL A4      0.3     Reaffirmed
(Issuer Not Cooperating)
Bansal Forest Products Pvt Ltd          Foreign Exchange   CRISIL A4+     35      Reaffirmed
                                        Fac
(Issuer Not Cooperating)
Benso Garmenting                        Foreign Exchange   CRISIL A4+     11      Reaffirmed
                                        Forward
(Issuer Not Cooperating)
Betwa Ice & Cold Storage Pvt Ltd        Overdraft          CRISIL A4      1.6     Reaffirmed
(Issuer Not Cooperating)
Bhandari Agrofeeds Pvt Ltd              BG                 CRISIL A4+     5       Reaffirmed
(Issuer Not Cooperating)
Bhupendra Engineering and Construction  BG                 CRISIL A4+     80      Reaffirmed
Pvt Ltd
(Issuer Not Cooperating)
BMG Informatics Pvt Ltd                 BG                 CRISIL A4+     50      Reaffirmed
(Issuer Not Cooperating)
C. K. Constructions                     BG                 CRISIL A4+     90      Reaffirmed
(Issuer Not Cooperating)
Calico Impex                            LOC                CRISIL A4+     30      Reaffirmed
(Issuer Not Cooperating)
Century Infrapower Pvt Ltd              BG                 CRISIL A3      1680    Reaffirmed
Century Infrapower Pvt Ltd              Bill Discounting   CRISIL A3      250     Reaffirmed
                                        under LOC
CJI Porcelain Pvt Ltd                   BG                 CRISIL A3+     50      Reaffirmed
CJI Porcelain Pvt Ltd                   Bill Discounting   CRISIL A3+     20      -
                                        under LOC
CJI Porcelain Pvt Ltd                   Foreign Exchange   CRISIL A3+     2       -
                                        Forward
CJI Porcelain Pvt Ltd                   LOC                CRISIL A3+     5       Assigned
Claystone Granito Pvt Ltd               BG                 CRISIL A4+     44      Reaffirmed
(Issuer Not Cooperating)
Cleena Industries Pvt Ltd               BG                 CRISIL A4+     10      Reaffirmed
(Issuer Not Cooperating)
Cleena Industries Pvt Ltd               LOC                CRISIL A4+     100     Reaffirmed
(Issuer Not Cooperating)
Delsea Exports Pvt Ltd                  Bill Discounting   CRISIL A4      100     Reaffirmed
(Issuer Not Cooperating)
Everwin Educational And Charitable TrustOverdraft          CRISIL A4+     50      Reaffirmed
(Issuer Not Cooperating)
Excel Industries Ltd                    Channel Financing  CRISIL A1      50      Reaffirmed
Excel Industries Ltd                    Inland Guarantees  CRISIL A1      35      Reaffirmed
Excel Industries Ltd                    Inland/Import LOC  CRISIL A1      415     Reaffirmed
Excel Industries Ltd                    Overdraft          CRISIL A1      10      Reaffirmed
Excel Industries Ltd                    Supplier Bill      CRISIL A1      200     Reaffirmed
                                        Discounting
GRK Theatres Pvt Ltd                    Inventory Funding  CRISIL A4+     200     Reaffirmed
                                        Fac
(Issuer Not Cooperating)
GRK Theatres Pvt Ltd                    Overdraft          CRISIL A4+     170     Reaffirmed
(Issuer Not Cooperating)
H. R. Construction Company              BG                 CRISIL A4      100     Reaffirmed
(Issuer Not Cooperating)
Hi-Tech Butterfly Valves India Pvt Ltd  BG                 CRISIL A4+     30      Reaffirmed
Hi-Tech Butterfly Valves India Pvt Ltd  LOC                CRISIL A4+     25      Reaffirmed
J. Maheshkumar Petrochemicals Pvt Ltd   Bill Discounting   CRISIL A3+     600     Reaffirmed
                                        under LOC
J. Maheshkumar Petrochemicals Pvt Ltd   Channel Financing  CRISIL A3+     205     Reaffirmed
Jain Brothers                           BG                 CRISIL A4+     65      -

Karvy Data Management Services Ltd      LOC & BG           CRISIL A4      1100    -
Downgraded from CRISIL A4+; Continues on Rating Watch with Negative Implications
Karvy Data Management Services Ltd      Overdraft          CRISIL A4      900     -
Downgraded from CRISIL A4+; Continues on Rating Watch with Negative Implications
Kemtec India Photographic Co Pvt Ltd    LOC                CRISIL A4+     200     Reaffirmed
(Issuer Not Cooperating)
Kesar Alloys and Metals Pvt Ltd         LOC                CRISIL A4+     40      Reaffirmed
Lamifab Industries                      BG                 CRISIL A4+     10      Reaffirmed
(Issuer Not Cooperating)
Lamifab Industries                      Foreign Exchange   CRISIL A4+     1       Reaffirmed
                                        Forward
(Issuer Not Cooperating)
Lamifab Industries                      Inland/Import LOC  CRISIL A4+     20      Reaffirmed
(Issuer Not Cooperating)
Lamikon Woodlam LLP                     Proposed BG        CRISIL A4      11      Reaffirmed
(Issuer Not Cooperating)
Leap India Pvt Ltd                      Proposed ST Bk     CRISIL A4+     250     -
                                        Loan Fac
Downgraded from CRISIL A3
Magpie Global Ltd                       BG                 CRISIL A4+     5       Reaffirmed
(Issuer Not Cooperating)
Mangal Textile Mills India Pvt Ltd      BG                 CRISIL A2      13      Reaffirmed
Navdurga Electroconstruction Pvt Ltd    Proposed BG        CRISIL A4+     10      Assigned
Navdurga Electroconstruction Pvt Ltd    BG                 CRISIL A4+     150     Assigned
Nishika Roadlines                       BG                 CRISIL A4+     50      Reaffirmed
Oorja On Move Infra Pvt Ltd             BG                 CRISIL A4      4       Reaffirmed
(Issuer Not Cooperating)
Paramount Minerals and Chemicals Ltd    BG                 CRISIL A3+     30      -
Downgraded from CRISIL A2
Paramount Minerals and Chemicals Ltd    Bill Discounting   CRISIL A3+     150     -
                                        under LOC
Downgraded from CRISIL A2
Paramount Minerals and Chemicals Ltd    LOC                CRISIL A3+     402.2   -
Downgraded from CRISIL A2
Paramount Minerals and Chemicals Ltd    Packing Credit in  CRISIL A3+     140     -
                                        Foreign Currency
Downgraded from CRISIL A2
Qmax Test Equipments Pvt Ltd            BG                 CRISIL A4+     145     Reaffirmed
R C Plasto Tanks and Pipes Pvt Ltd      LOC                CRISIL A2      300     Reaffirmed
R C Plasto Tanks and Pipes Pvt Ltd      Proposed LOC       CRISIL A2      10      -
Rdevis Engineers Pvt Ltd                BG                 CRISIL A4+     20      Reaffirmed
(Issuer Not Cooperating)
Rdevis Engineers Pvt Ltd                Proposed NFBL      CRISIL A4+     56.1    Reaffirmed
(Issuer Not Cooperating)
Sanhit Polymer                          BG                 CRISIL A4+     15      -
Migrated from CRISIL A4+ (Issuer Not Cooperating)
Savitri Steel                           LOC                CRISIL A4      10      Reaffirmed
(Issuer Not Cooperating)
Schangalaya Motors                      Proposed ST Bk     CRISIL A4+     25      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Sciknow Techno Solutions Ltd            Proposed LOC & BG  CRISIL A4      400     -
Downgraded from CRISIL A4+; Continues on Rating Watch with Negative Implications
Shri Ram Solvent Extractions Pvt Ltd    BG                 CRISIL A4+     15      Reaffirmed
(Issuer Not Cooperating)
Siyaram Silk Mills Ltd                  BG                 CRISIL A1+     97.9    Reaffirmed
Siyaram Silk Mills Ltd                  LOC                CRISIL A1+     102.1   Reaffirmed
Siyaram Silk Mills Ltd                  CP                 CRISIL A1+     1000    Reaffirmed
SKV Infratech Pvt Ltd                   BG                 CRISIL A4+     200     Reaffirmed
(Issuer Not Cooperating)
Spectrum Dyes and Chemicals Pvt Ltd     BG                 CRISIL A2      110     Assigned
Sri Venkateswara Food Processing        LOC                CRISIL A4+     100     Reaffirmed
Industries
(Issuer Not Cooperating)
Swarup International                    Packing Credit     CRISIL A4      25      Reaffirmed
(Issuer Not Cooperating)
Tekza Ceramic LLP                       BG                 CRISIL A4      19.5    Reaffirmed
(Issuer Not Cooperating)
Traco Cable Co. Ltd                     BG                 CRISIL A4      68      Reaffirmed
Traco Cable Co. Ltd                     LOC                CRISIL A4      226.5   Reaffirmed
Upleta Traders                          BG                 CRISIL A4      40      Reaffirmed
Vicky Roadways                          BG                 CRISIL A4+     100     Reaffirmed
 
LONG TERM RATINGS:
-------------------
A.C. Roy and Co.                        Overdraft          CRISIL         35      Assigned
                                                           BBB-/Stable
Aadhi Vinayaga Spinners                 CC                 CRISIL         110     Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Aadhi Vinayaga Spinners                 TL                 CRISIL         50      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Aarti Extractions Pvt Ltd               CC                 CRISIL         115     Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Aarti Extractions Pvt Ltd               Standby Line of    CRISIL         5       Reaffirmed
                                        Credit             BB+/Stable
(Issuer Not Cooperating)
Abhirami Pet Industries Pvt Ltd         LT Bk Fac          CRISIL         19      Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Abhirami Pet Industries Pvt Ltd         Proposed WC Fac    CRISIL         31      Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Abhirami Pet Industries Pvt Ltd         CC                 CRISIL         30      Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Abirami Enterprises                     LT Loan            CRISIL         20      Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Abirami Enterprises                     CC                 CRISIL         45      Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Adish Minerals Pvt Ltd                  Proposed TL        CRISIL         70      Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Adish Minerals Pvt Ltd                  Proposed WC Fac    CRISIL         80      Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Airtec Electrovision Pvt Ltd            CC                 CRISIL         80      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Akbar International                     CC                 CRISIL         110     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Akeyem Sons                             CC                 CRISIL         185     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Akeyem Sons                             WC TL              CRISIL         40      Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Allahabad Bank                          Upper Tier II      CRISIL A+      10000   -
                                        Bonds (Under Basel
                                        II)
Placed on Rating Watch with Positive Implications
Allahabad Bank                          Tier I Perpetual   CRISIL A+      3000    -
                                        Bonds (Under Basel
                                        II)
Placed on Rating Watch with Positive Implications
Allahabad Bank                          Tier II Bonds      CRISIL AA-     15000   Assigned
                                        (Under Basel III)
Assigned; Placed on Rating Watch with Positive Implications
Allahabad Bank                          Tier II Bonds      CRISIL AA-     5000    -
                                        (Under Basel III)
Placed on Rating Watch with Positive Implications
Allahabad Bank                          Tier II Bonds      CRISIL AA-     10000   -
                                        (Under Basel III)
Placed on Rating Watch with Positive Implications
Allahabad Bank                          Lower Tier II      CRISIL AA-     8500    -
                                        Bonds (Under Basel
                                        II)
Placed on Rating Watch with Positive Implications
Amrutva Fine Foods LLP                  CC                 CRISIL B/Stable40      Reaffirmed
(Issuer Not Cooperating)
Amrutva Fine Foods LLP                  LT Loan            CRISIL         10      Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Amrutva Fine Foods LLP                  Proposed WC Fac    CRISIL         20      Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Anitha Texcot India Pvt Ltd             CC                 CRISIL         150     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Anitha Texcot India Pvt Ltd             Proposed LT Bk     CRISIL         50      Reaffirmed
                                        Loan Fac           BB/Stable
(Issuer Not Cooperating)
Approcopp Engineering Pvt Ltd           CC                 CRISIL         75      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Approcopp Engineering Pvt Ltd           LT Loan            CRISIL         7.5     Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Auro Mirra Detective Agency             Proposed Overdraft CRISIL         90      Reaffirmed
                                        Fac                BB-/Stable
(Issuer Not Cooperating)
Auro Mirra Detective Agency             Secured Overdraft  CRISIL         20      Reaffirmed
                                        Fac                BB-/Stable
(Issuer Not Cooperating)
Auto Mech (India) Pvt Ltd               CC                 CRISIL         50      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Auto Mech (India) Pvt Ltd               TL                 CRISIL         760     Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Autocreates Services Pvt Ltd            Lease Rental       CRISIL D       150     Reaffirmed
                                        Discounting Loan
(Issuer Not Cooperating)
AVS International Pvt Ltd               CC                 CRISIL         34      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
AVS International Pvt Ltd               Proposed FB Bk     CRISIL         50      Reaffirmed
                                        Limits             B+/Stable
(Issuer Not Cooperating)
AVS International Pvt Ltd               Secured Overdraft  CRISIL         40      Reaffirmed
                                        against term       B+/Stable
                                        deposits
(Issuer Not Cooperating)
B. D. Textile Mills Pvt Ltd             CC                 CRISIL         230     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Baba Ispat Pvt Ltd                      CC                 CRISIL         100     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Bagoosa Food Products Pvt Ltd           CC                 CRISIL         30      Reaffirmed
                                                           B-/Stable
(Issuer Not Cooperating)
Bagoosa Food Products Pvt Ltd           Proposed LT Bk     CRISIL         29.7    Reaffirmed
                                        Loan Fac           B-/Stable
(Issuer Not Cooperating)
Bagoosa Food Products Pvt Ltd           TL                 CRISIL         90      Reaffirmed
                                                           B-/Stable
(Issuer Not Cooperating)
Bansal Forest Products Pvt Ltd          CC                 CRISIL         55      Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Bansal Forest Products Pvt Ltd          Foreign LOC        CRISIL         385     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Benso Garmenting                        CC                 CRISIL         4       Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Benso Garmenting                        Export Packing     CRISIL         45      Reaffirmed
                                        Credit             BB-/Stable
(Issuer Not Cooperating)
Betwa Ice & Cold Storage Pvt Ltd        CC                 CRISIL B/Stable30      Reaffirmed
(Issuer Not Cooperating)
Betwa Ice & Cold Storage Pvt Ltd        Proposed LT Bk     CRISIL B/Stable33.4    Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Betwa Ice & Cold Storage Pvt Ltd        TL                 CRISIL B/Stable35      Reaffirmed
(Issuer Not Cooperating)
Bhagirathi Trans Corpo Pvt Ltd          CC                 CRISIL         40      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Bhagirathi Trans Corpo Pvt Ltd          Proposed LT Bk     CRISIL         26.3    Reaffirmed
                                        Loan Fac           BB-/Stable
(Issuer Not Cooperating)
Bhagirathi Trans Corpo Pvt Ltd          TL                 CRISIL         763.7   Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Bhandari Agrofeeds Pvt Ltd              CC                 CRISIL         5.5     Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Bhandari Agrofeeds Pvt Ltd              Proposed LT Bk     CRISIL         16.9    Reaffirmed
                                        Loan Fac           BB-/Stable
(Issuer Not Cooperating)
Bhandari Agrofeeds Pvt Ltd              TL                 CRISIL         72.6    Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Bhojwani Universal Impex Pvt Ltd        Foreign Bill       CRISIL         150     Reaffirmed
                                        Discounting        BB/Stable
Reaffirmed
Bhupendra Engineering and Construction  CC                 CRISIL         40      Reaffirmed
Pvt Ltd                                                    BB-/Stable
(Issuer Not Cooperating)
BMG Informatics Pvt Ltd                 CC                 CRISIL         10      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
C H Jewellers Pvt Ltd                   CC                 CRISIL         450     Reaffirmed
                                                           BBB-/Negative
(Outlook revised from Stable and rating reaffirmed)
C H Jewellers Pvt Ltd                   Proposed LT Bk     CRISIL         20      Reaffirmed
                                        Loan Fac           BBB-/Negative
(Outlook revised from Stable and rating reaffirmed)
C. K. Constructions                     CC/ Overdraft Fac  CRISIL         30      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Calico Impex                            Export Packing     CRISIL         80      Reaffirmed
                                        Credit             BB+/Stable
(Issuer Not Cooperating)
Calico Impex                            Foreign Bill       CRISIL         40      Reaffirmed
                                        Purchase           BB+/Stable
(Issuer Not Cooperating)
Century Infrapower Pvt Ltd              CC                 CRISIL         150     Reaffirmed
                                                           BBB-/Stable
Chandra Motors                          CC                 CRISIL         55      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
CJI Porcelain Pvt Ltd                   CC                 CRISIL         210     -
                                                           BBB/Stable
CJI Porcelain Pvt Ltd                   TL                 CRISIL         23      Assigned
                                                           BBB/Stable
Claystone Granito Pvt Ltd               CC                 CRISIL         120     Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Claystone Granito Pvt Ltd               TL                 CRISIL         236     Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Cleena Industries Pvt Ltd               CC                 CRISIL         175     Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Cleena Industries Pvt Ltd               LT Loan            CRISIL         213     Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Cleena Industries Pvt Ltd               Proposed LT Bk     CRISIL         127     Reaffirmed
                                        Loan Fac           BB+/Stable
(Issuer Not Cooperating)
Delsea Exports Pvt Ltd                  Packing Credit     CRISIL         40      Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Deshmukh Lead Pvt Ltd                   CC                 CRISIL         100     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Deshmukh Lead Pvt Ltd                   Proposed LT Bk     CRISIL         12.6    Reaffirmed
                                        Loan Fac           BB/Stable
(Issuer Not Cooperating)
Deshmukh Lead Pvt Ltd                   Rupee TL           CRISIL         22.4    Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Elmeasure India Pvt Ltd                 CC                 -              45      Withdrawn
Elmeasure India Pvt Ltd                 Proposed LT Bk     -              51.8    Withdrawn
                                        Loan Fac
Elmeasure India Pvt Ltd                 TL                 -              53.2    Withdrawn
Everwin Educational And Charitable TrustProposed LT Bk     CRISIL         256.5   Reaffirmed
                                        Loan Fac           BB-/Stable
(Issuer Not Cooperating)
Everwin Educational And Charitable TrustTL                 CRISIL         493.5   Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Excel Industries Ltd                    CC*                CRISIL         650     Reaffirmed
                                                           A+/Stable
*Interchangeable with export packing credit, foreign bills discounting, and inland bills
discounting
Excel Industries Ltd                    LT Loan            CRISIL         135     Reaffirmed
                                                           A+/Stable
Fly Express Logistics Pvt Ltd           CC                 CRISIL         31      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Fly Express Logistics Pvt Ltd           Proposed FB Bk     CRISIL         19      Reaffirmed
                                        Limits             B+/Stable
(Issuer Not Cooperating)
Fly Express Logistics Pvt Ltd           TL                 CRISIL         50      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Garden Court Distilleries Pvt Ltd       CC                 CRISIL         1000    Reaffirmed
                                                           BB+/Stable
Godolo And Godolo Exports Pvt Ltd       CC                 CRISIL         53      Reaffirmed
                                                           BB-/Stable
(Migrated from CRISIL BB-/Stable ((Issuer Not Cooperating)
Godolo And Godolo Exports Pvt Ltd       Proposed LT Bk     CRISIL         2       Reaffirmed
                                        Loan Fac           BB-/Stable
(Migrated from CRISIL BB-/Stable ((Issuer Not Cooperating)
Gopal Udhyog                            CC                 CRISIL         125     Reaffirmed
                                                           BB-/Stable
GRK Theatres Pvt Ltd                    Lease Rental       CRISIL         100     Reaffirmed
                                        Discounting Loan   BB/Stable
(Issuer Not Cooperating)
GRK Theatres Pvt Ltd                    TL                 CRISIL         130     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
H. R. Construction Company              CC                 CRISIL         40      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
H. R. Construction Company              Proposed WC Fac    CRISIL         60      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Hi-Tech Butterfly Valves India Pvt Ltd  Bill Discounting   CRISIL         22.5    Reaffirmed
                                                           BB+/Stable
Hi-Tech Butterfly Valves India Pvt Ltd  CC                 CRISIL         105     Reaffirmed
                                                           BB+/Stable
Hi-Tech Butterfly Valves India Pvt Ltd  Proposed LT Bk     CRISIL         28.2    Reaffirmed
                                        Loan Fac           BB+/Stable
Hi-Tech Butterfly Valves India Pvt Ltd  TL                 CRISIL         35.7    Reaffirmed
                                                           BB+/Stable
Innova Fabtex Pvt Ltd                   CC                 CRISIL D       30      Reaffirmed
(Issuer Not Cooperating)
Innova Fabtex Pvt Ltd                   LT Loan            CRISIL D       10      Reaffirmed
(Issuer Not Cooperating)
Innova Fabtex Pvt Ltd                   Proposed LT Bk     CRISIL D       60      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
J. Maheshkumar Petrochemicals Pvt Ltd   Overdraft          CRISIL         10      Reaffirmed
                                                           BBB/Stable
J. Maheshkumar Petrochemicals Pvt Ltd   Proposed Overdraft CRISIL         115     Reaffirmed
                                        Fac                BBB/Stable
Jain Brothers                           Overdraft          CRISIL         30      -
                                                           BB-/Stable
Jain Brothers                           Proposed LT Bk     CRISIL         5       Reaffirmed
                                        Loan Fac           BB-/Stable
Jalaram Ceramics Ltd                    Proposed LT Bk     CRISIL B/Stable5       Assigned
                                        Loan Fac
(Assigned; Suspension Revoked )
Jalaram Ceramics Ltd                    Standby Line of    CRISIL B/Stable40      Assigned
                                        Credit
(Assigned; Suspension Revoked )
Jalaram Ceramics Ltd                    CC                 CRISIL         125     Assigned
                                                           B/Stable
(Assigned; Suspension Revoked )
Jayam Sand & Gravels Pvt Ltd            Proposed LT Bk     CRISIL         50      Reaffirmed
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
Karvy Data Management Services Ltd      CC                 CRISIL B       1900    -
Downgraded from CRISIL BB+; Continues on Rating Watch with Negative Implications
Karvy Data Management Services Ltd      LT Loan            CRISIL B       1738.6  -
Downgraded from CRISIL BB+; Continues on Rating Watch with Negative Implications
Karvy Data Management Services Ltd      Proposed LT Bk     CRISIL B       1361.4  -
                                        Loan Fac
Downgraded from CRISIL BB+; Continues on Rating Watch with Negative Implications
Karvy Data Management Services Ltd      NCD                CRISIL B       10000   -
Karvy DigiKonnect Ltd                   CC                 CRISIL B       200     -
Downgraded from CRISIL BB; Continues on Rating Watch with Negative Implications
Karvy DigiKonnect Ltd                   Proposed LT Bk     CRISIL B       400     -
                                        Loan Fac
Downgraded from CRISIL BB; Continues on Rating Watch with Negative Implications
Karvy DigiKonnect Ltd                   TL                 CRISIL B       50      -
Downgraded from CRISIL BB; Continues on Rating Watch with Negative Implications
Karvy DigiKonnect Ltd                   NCD                CRISIL B       1000    -
(Downgraded from CRISIL BB; Continues on Rating Watch with Negative Implications)
Karvy Forde Search Pvt Ltd              CC                 CRISIL B       150     -
Downgraded from CRISIL BB; Continues on Rating Watch with Negative Implications
Karvy Innotech Ltd                      Proposed LT Bk     CRISIL B       1500    -
                                        Loan Fac
Downgraded from CRISIL BB; Continues on Rating Watch with Negative Implications
Karvy Renewable Energy Projects Ltd     LT Loan            CRISIL B       121.5   -
Downgraded from CRISIL BB; Continues on Rating Watch with Negative Implications 
Karvy Renewable Energy Projects Ltd     Proposed LT Bk     CRISIL B       28.5    -
                                        Loan Fac
Downgraded from CRISIL BB; Continues on Rating Watch with Negative Implications 
Kataria Movers                          CC                 CRISIL         60      Reaffirmed
                                                           BBB-/Stable
Kataria Movers                          LT Loan            CRISIL         90      Reaffirmed
                                                           BBB-/Stable
Kemtec India Photographic Co Pvt Ltd    CC                 CRISIL         20      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Kemtec India Photographic Co Pvt Ltd    Proposed LT Bk     CRISIL         5       Reaffirmed
                                        Loan Fac           BB-/Stable
(Issuer Not Cooperating)
Kesar Alloys and Metals Pvt Ltd         CC                 CRISIL         68      Reaffirmed
                                                           BB-/Stable
Kesar Alloys and Metals Pvt Ltd         Electronic Dealer  CRISIL         40      Reaffirmed
                                        Financing          BB-/Stable
                                        Scheme(e-DFS)
Kesar Alloys and Metals Pvt Ltd         TL                 CRISIL         20      Reaffirmed
                                                           BB-/Stable
Kesar Alloys and Metals Pvt Ltd         Proposed FB Bk     CRISIL         19.5    Reaffirmed
                                        Limits             BB-/Stable
Kewal Kiran Clothing Ltd                Proposed LT Bk     CRISIL         300     Reaffirmed
                                        Loan Fac           AA-/Stable
Kewal Kiran Clothing Ltd                WC Demand Loan@@   CRISIL         450     Reaffirmed
                                                           AA-/Stable
@@Interchangeable with Rs 45 crore of bank overdraft facility, Rs 45 crore of export bill
discounting, Rs 45 crore of export invoice financing, and Rs 45 crore of pre-shipment financing
under export orders 
Kewal Kiran Clothing Ltd                WC Demand Loan#    CRISIL         250     Reaffirmed
                                                           AA-/Stable
#Interchangeable with Rs 25 crore of bank overdraft facility, Rs 5 crore of import letter of
credit, Rs 5 crore of bonds and guarantees, Rs 5 crore of import invoice financing, Rs 25 crore
of export bill discounting, Rs 25 crore of pre-shipment financing under export letter of credit,
Rs 25 crore of export invoice financing, Rs 5 crore of import letter of credit, and Rs 25 crore
of pre-shipment financing under export orders 
Kewal Kiran Clothing Ltd                WC Demand Loan^    CRISIL         400     Reaffirmed
                                                           AA-/Stable
^Interchangeable with Rs 40 crore of working capital demand loan, Rs 40 crore cash credit
facility, Rs 40 crore export packing credit, Rs 40 crore foreign bills purchased, Rs 40 crore
bill/invoice discounting, Rs 20 crore letter of credit usance/sight, Rs 20 crore letter of
undertaking for buyers credit 
Khanna Agro Industries                  CC                 CRISIL         40      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Khanna Agro Industries                  Proposed FB Bk     CRISIL         30      Reaffirmed
                                        Limits             BB-/Stable
(Issuer Not Cooperating)
Khanna Agro Industries                  Rupee TL           CRISIL         30      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Kumar Cold Storage                      LT Loan            CRISIL B/Stable52.5    Reaffirmed
(Issuer Not Cooperating)
Kumar Cold Storage                      Proposed FB Bk     CRISIL B/Stable20      Reaffirmed
                                        Limits
(Issuer Not Cooperating)
Kumar Industries                        LT Loan            CRISIL         6.5     Reaffirmed
                                                           BB-/Stable
Kumar Industries                        Proposed LT Bk     CRISIL         48.5    Reaffirmed
                                        Loan Fac           BB-/Stable
Kumar Industries                        CC                 CRISIL         45      Reaffirmed
                                                           BB-/Stable
Lakshmi Narayana Enterprises            Proposed LT Bk     CRISIL B/Stable39      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Lakshmi Narayana Enterprises            CC                 CRISIL         61      Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Lamifab Industries                      CC                 CRISIL         62.5    Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Lamifab Industries                      Proposed LT Bk     CRISIL         3.3     Reaffirmed
                                        Loan Fac           BB/Stable
(Issuer Not Cooperating)
Lamifab Industries                      TL                 CRISIL         26.3    Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Lamifab Industries                      WC TL              CRISIL         1.9     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Lamikon Woodlam LLP                     Proposed CC Limit  CRISIL B/Stable60      Reaffirmed
(Issuer Not Cooperating)
Lamikon Woodlam LLP                     Proposed LT Bk     CRISIL B/Stable120     Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Leap India Pvt Ltd                      NCD                CRISIL         250     -
                                                           BB+/StabE
(Downgraded from CRISIL BBB-/Stable)
Leap India Pvt Ltd                      LT Loan            CRISIL         2500    -
                                                           BB+/Stable
Downgraded from CRISIL BBB-/Stable
Leap India Pvt Ltd                      Proposed TL        CRISIL         250     -
                                                           BB+/Stable
Downgraded from CRISIL BBB-/Stable
M. P. Associates                        TL                 CRISIL         1000    Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Magpie Global Ltd                       CC                 CRISIL         82.5    Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Magpie Global Ltd                       Proposed WC Fac    CRISIL         42.5    Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Mahalakshmi Rice Mills                  CC                 CRISIL         37.5    Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Mahalakshmi Rice Mills                  LT Loan            CRISIL         10      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Mahalakshmi Rice Mills                  Warehouse FinancingCRISIL         12.5    Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Mangal Textile Mills India Pvt Ltd      CC                 CRISIL         120     Reaffirmed
                                                           BBB+/Stable
Mangal Textile Mills India Pvt Ltd      TL                 CRISIL         286     Reaffirmed
                                                           BBB+/Stable
Metropoli Fashions Pvt Ltd              Export Packing     -              190     Withdrawn
                                        Credit
Metropoli Fashions Pvt Ltd              Proposed LT Bk     -              60      Withdrawn
                                        Loan Fac
MOBIL TRUST SERIES - 01 (Originator:    MOBIL TRUST SERIES CRISIL AAA     -       Final Rating
Shriram City Union Finance Ltd)         -1                 (SO)
Converted from Provisional Rating to Final Rating
Modi Car Agencies Pvt Ltd               Channel Financing  CRISIL         200     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Modi Car Agencies Pvt Ltd               Inventory Funding  CRISIL         165.2   Reaffirmed
                                        Fac                BB/Stable
(Issuer Not Cooperating)
Modi Car Agencies Pvt Ltd               TL                 CRISIL         234.8   Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Modi Motors Agencies Pvt Ltd            CC                 CRISIL         140     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Modi Motors Agencies Pvt Ltd            Overdraft          CRISIL         25      Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Modi Motors Agencies Pvt Ltd            Inventory Funding  CRISIL         520     Reaffirmed
                                        Fac                BB/Stable
(Issuer Not Cooperating)
Modi Motors Agencies Pvt Ltd            LT Loan            CRISIL         185     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Mohta Plywood Industries Pvt Ltd        Bill Discounting   CRISIL D       130     Reaffirmed
(Issuer Not Cooperating)
Mohta Plywood Industries Pvt Ltd        CC                 CRISIL D       5       Reaffirmed
(Issuer Not Cooperating)
Mohta Plywood Industries Pvt Ltd        LOC                CRISIL D       40      Reaffirmed
(Issuer Not Cooperating)
Mohta Plywood Industries Pvt Ltd        Packing Credit     CRISIL D       60      Reaffirmed
(Issuer Not Cooperating)
Narayan Maruti Mahajan                  CC                 CRISIL         70      -
                                                           BB-/Stable
Navdurga Electroconstruction Pvt Ltd    CC                 CRISIL         60      Assigned
                                                           BB+/Stable
                                                           (Assigned)
Nishika Roadlines                       CC                 CRISIL         35      Reaffirmed
                                                           BB/Stable
Oorja On Move Infra Pvt Ltd             CC                 CRISIL         9.6     Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Oorja On Move Infra Pvt Ltd             Proposed LT Bk     CRISIL         80.1    Reaffirmed
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
Oorja On Move Infra Pvt Ltd             TL                 CRISIL         6.3     Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
P Z Estates Pvt Ltd                     Proposed TL        CRISIL         200     Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Paramount Minerals and Chemicals Ltd    Proposed LT Bk     CRISIL         250     -
                                        Loan Fac           BBB/Negative
Downgraded from CRISIL BBB+/Negative
Paramount Minerals and Chemicals Ltd    CC                 CRISIL         202.5   -
                                                           BBB/Negative
Downgraded from CRISIL BBB+/Negative
Paramount Minerals and Chemicals Ltd    LT Loan            CRISIL         75.3    -
                                                           BBB/Negative
Downgraded from CRISIL BBB+/Negative
Prayosha Healthcare Pvt Ltd             CC                 CRISIL         40      Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Prayosha Healthcare Pvt Ltd             LT Loan            CRISIL         5       Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Prayosha Healthcare Pvt Ltd             Rupee TL           CRISIL         35      Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
PRR Travels                             CC                 -              102.5   Withdrawn
(Issuer Not Cooperating)
PRR Travels                             LT Loan            -              47.5    Withdrawn
(Issuer Not Cooperating)
Qmax Test Equipments Pvt Ltd            Packing Credit     CRISIL         150     Reaffirmed
                                                           BB/Stable
R C Plasto Tanks and Pipes Pvt Ltd      CC                 CRISIL         120     Reaffirmed
                                                           BBB+/Stable
R C Plasto Tanks and Pipes Pvt Ltd      Proposed LT Bk     CRISIL         100     Reaffirmed
                                        Loan Fac           BBB+/Stable
R.R Overseas                            CC                 CRISIL         45      -
                                                           B+/Stable
(Upgraded from CRISIL B/Stable)
R.R Overseas                            LT Loan            CRISIL         13      -
                                                           B+/Stable
(Upgraded from CRISIL B/Stable)
R.R Overseas                            Proposed WC Fac    CRISIL         62      -
                                                           B+/Stable
(Upgraded from CRISIL B/Stable)
Rdevis Engineers Pvt Ltd                CC                 CRISIL         4       Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Rdevis Engineers Pvt Ltd                Rupee TL           CRISIL         69.9    Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Real Assam Tea Industries               CC                 CRISIL         50      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
S. K. Textiles                          CC                 CRISIL D       60      Reaffirmed
(Issuer Not Cooperating)
S. K. Textiles                          LT Loan            CRISIL D       10      Reaffirmed
(Issuer Not Cooperating)
Sai Point Bikes And Cars                Drop Line          CRISIL         120     -
                                        Overdraft Fac      B-/Stable
Downgraded from CRISIL B/Stable
Sainel Cashew Traders                   CC                 CRISIL         60      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Sainel Cashew Traders                   Proposed WC Fac    CRISIL         10      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Sanhit Polymer                          CC                 CRISIL         50      -
                                                           BB-/Stable
Migrated from CRISIL BB/Stable (Issuer Not Cooperating)
Savitri Steel                           CC                 CRISIL         50      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
SBI Life Insurance Co. Ltd              Financial Strength AAA/Stable     -       Reaffirmed
                                        Rating
Reaffirmed
Schangalaya Motors                      CC                 CRISIL         200     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Schangalaya Motors                      LT Loan            CRISIL         50      Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Schangalaya Motors                      Proposed LT Bk     CRISIL         75      Reaffirmed
                                        Loan Fac           BB/Stable
(Issuer Not Cooperating)
Sciknow Techno Solutions Ltd            Proposed CC Limit  CRISIL B       50      -
Downgraded from CRISIL BB; Continues on Rating Watch with Negative Implications
Sciknow Techno Solutions Ltd            Proposed TL        CRISIL B       50      -
Downgraded from CRISIL BB; Continues on Rating Watch with Negative Implications
Shewdanmal Gajanand                     CC                 CRISIL         98      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Shiv Shipping Services                  CC                 CRISIL         150     Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Shiv Shipping Services                  Proposed LT Bk     CRISIL         10      Reaffirmed
                                        Loan Fac           BB+/Stable
(Issuer Not Cooperating)
Shree Nath Ji Enterprises - Nissing     CC                 CRISIL         65      Reaffirmed
                                                           B+/Stable
Shree Nath Ji Enterprises - Nissing     LT Loan            CRISIL         25      Reaffirmed
                                                           B+/Stable
Shree Nath Ji Enterprises - Nissing     Warehouse Receipts CRISIL         35      Reaffirmed
                                                           B+/Stable
Shri Raghunath Cold Storage             CC/ Overdraft Fac  CRISIL         50      Reaffirmed
                                                           B+/Stable
Shri Ram Solvent Extractions Pvt Ltd    CC                 CRISIL         90      Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Siyaram Silk Mills Ltd                  CC                 CRISIL         1600    Reaffirmed
                                                           AA-/Stable
Siyaram Silk Mills Ltd                  TL                 CRISIL         476.9   Reaffirmed
                                                           AA-/Stable
SKV Infratech Pvt Ltd                   CC/ Overdraft Fac  CRISIL         40      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Sonar Bangla Cold Storage Pvt Ltd       CC                 CRISIL         10      Reaffirmed
                                                           B+/Stable
Sonar Bangla Cold Storage Pvt Ltd       WC Loan            CRISIL         60      Reaffirmed
                                                           B+/Stable
Spectrum Dyes and Chemicals Pvt Ltd     CC                 CRISIL BBB+    1450    Assigned
Spectrum Dyes and Chemicals Pvt Ltd     TL                 CRISIL         778.2   Assigned
                                                           BBB+/Stable
Spectrum Dyes and Chemicals Pvt Ltd     Proposed LT Bk     CRISIL         27.6    Assigned
                                        Loan Fac           BBB+/Stable
Sri Amrutha Constructions               LT Loan            CRISIL         95      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Sri Amrutha Constructions               Proposed LT Bk     CRISIL         5       Reaffirmed
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
Sri Laxmi Narasimha Homes Pvt Ltd       Proposed TL        CRISIL B/Stable100     Reaffirmed
(Issuer Not Cooperating)
Swarup International                    Bill Discounting   CRISIL         31      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Tekza Ceramic LLP                       CC                 CRISIL         30      Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Tekza Ceramic LLP                       Proposed LT Bk     CRISIL         0.5     Reaffirmed
                                        Loan Fac           B/Stable
(Issuer Not Cooperating)
Tekza Ceramic LLP                       TL                 CRISIL         70      Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Thakurji Solvex Pvt Ltd                 CC                 CRISIL         210     Reaffirmed
                                                           BB+/Stable
Thakurji Solvex Pvt Ltd                 Proposed LT Bk     CRISIL         35      Reaffirmed
                                        Loan Fac           BB+/Stable
Thakurji Solvex Pvt Ltd                 TL                 CRISIL         130     Reaffirmed
                                                           BB+/Stable
Totala Textiles Quality Sizers          CC                 CRISIL         15      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Totala Textiles Quality Sizers          Rupee TL           CRISIL         63.8    Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Traco Cable Co. Ltd                     CC                 CRISIL C       100.5   Reaffirmed
Traco Cable Co. Ltd                     Proposed LT Bk     CRISIL C       5       Reaffirmed
                                        Loan Fac
Trident Auto Components Pvt Ltd         CC                 CRISIL         150     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Uday Structurals and Engineers Pvt Ltd  BG                 CRISIL D       20      Reaffirmed
(Issuer Not Cooperating)
Uday Structurals and Engineers Pvt Ltd  CC                 CRISIL D       40      Reaffirmed
(Issuer Not Cooperating)
Uday Structurals and Engineers Pvt Ltd  Proposed LT Bk     CRISIL D       10      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Upleta Traders                          CC                 CRISIL B/Stable7.5     Reaffirmed
Upleta Traders                          TL                 CRISIL B/Stable2.5     Reaffirmed
V.K. Automart Pvt Ltd                   CC                 CRISIL         47.5    Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
V.K. Automart Pvt Ltd                   Proposed LT Bk     CRISIL         2.5     Reaffirmed
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
V.K. Automart Pvt Ltd                   TL                 CRISIL         10      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Veekesy Shoes And Allied Products India CC                 CRISIL         90      Reaffirmed
Pvt Ltd                                                    BB/Stable
Vicky Roadways                          CC                 CRISIL         110     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@thomsonreuters.com)
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