February 12, 2020 / 8:16 AM / 14 days ago

CRISIL ratings for Indian debt instruments-Feb 12

    Feb 12  - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of February 11, 2020.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A and T Infracon Pvt Ltd                BG                 CRISIL A4+     140     Reaffirmed
Abhirami Pet Industries Pvt Ltd         LOC                CRISIL A4+     30      Withdrawn
Issuer Not Cooperating
Arudra Engineers Pvt Ltd                BG                 CRISIL A2+     400     Reaffirmed
Arudra Engineers Pvt Ltd                LOC                CRISIL A2+     20      Reaffirmed
Bhadreswar Agro Pvt Ltd                 BG                 CRISIL A3+     7.5     Reaffirmed
Bhadreswar Agro Pvt Ltd                 Proposed ST Bk     CRISIL A3+     22.5    Reaffirmed
                                        Loan Fac
Bhadreswar Rice Mill                    BG                 CRISIL A3+     18      Reaffirmed
Bhadreswar Rice Mill                    Proposed ST Bk     CRISIL A3+     20      Reaffirmed
                                        Loan Fac
Bishnu Mangal Rice Mill                 BG                 CRISIL A3      4       Reaffirmed
Cheema Boilers Ltd                      LOC & BG           CRISIL A3      325     Reaffirmed
Choksey Chemicals Pvt Ltd               BG                 CRISIL A4      20      Reaffirmed
Choksey Chemicals Pvt Ltd               LOC                CRISIL A4      10      Reaffirmed
Colorshine Coated Pvt Ltd               Purchase Bill      CRISIL A4+     250     Downgraded
                                        Discounting                               from CRISIL A3
DPB Antibiotics                         LOC                CRISIL A3+     75      Reaffirmed
DPB Antibiotics                         Overdraft          CRISIL A3+     60      Reaffirmed
Galaxy Chains Pvt Ltd                   LOC                CRISIL A4+     1       Assigned
Galaxy Chains Pvt Ltd                   BG                 CRISIL A4+     0.5     Assigned
Geltec Pvt Ltd                          BG                 CRISIL A1+     30      Withdrawn
Geltec Pvt Ltd                          LOC                CRISIL A1+     30      Withdrawn
                                      
IGP Engineers Pvt Ltd                   BG                 CRISIL A1      40      Reaffirmed
IGP Engineers Pvt Ltd                   LOC                CRISIL A1      160     Reaffirmed
Jai Ganesh Ispat and Ferro Alloys Pvt   BG                 CRISIL A3+     11.8    Reaffirmed
Ltd
Kovai Medical Center Research and       Overdraft          CRISIL A3+     25      Reaffirmed
Educational Trust
Luke Export                             Foreign Bill       CRISIL A4+     80      Reaffirmed
                                        Discounting
Luke Export                             Packing Credit     CRISIL A4+     80      Reaffirmed
Netafim Irrigation India Pvt Ltd        BG                 CRISIL A1      1000    Reaffirmed
Netafim Irrigation India Pvt Ltd        LOC                CRISIL A1      2260    Reaffirmed
Nirav Metals Pvt Ltd                    BG                 CRISIL A4+     10      Reaffirmed
Nirav Metals Pvt Ltd                    LOC                CRISIL A4+     15      Reaffirmed
Oswal Agricomm Pvt Ltd                  LOC                CRISIL A4+     47.5    Reaffirmed
Prathiba Developers Pvt Ltd             BG                 CRISIL A4+     36.7    Reaffirmed
Raghava Life Sciences Pvt Ltd           Proposed LOC       CRISIL A4      15      Withdrawn
Samrat Gems Impex Pvt Ltd               Export Packing     CRISIL A4+     270     Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Samrat Gems Impex Pvt Ltd               LOC                CRISIL A4+     70      Reaffirmed
Structural Solutions Pvt Ltd            BG                 CRISIL A4      60      Reaffirmed
Structural Solutions Pvt Ltd            Foreign Exchange   CRISIL A4      30      Reaffirmed
                                        Forward
Structural Solutions Pvt Ltd            LOC                CRISIL A4      30      Reaffirmed
Surface Engineering Pvt Ltd             BG                 CRISIL A4+     50      Reaffirmed
UltraTech Cement Ltd                    CP                 CRISIL A1+     35000   Reaffirmed
Universal Medicare Pvt Ltd              Standby LOC        CRISIL A1+     255.5   Reaffirmed
V. P. Engineers                         BG                 CRISIL A4+     5       Reaffirmed
V. P. Engineers                         LOC                CRISIL A4+     2.5     Reaffirmed
Yash Poly Industries Pvt Ltd            BG                 CRISIL A4+     0.5     Reaffirmed

LONG TERM RATINGS:
-------------------
A and T Infracon Pvt Ltd                CC                 CRISIL         40      Reaffirmed
                                                           BB+/Stable
A and T Infracon Pvt Ltd                Proposed CC Limit  CRISIL         20      Reaffirmed
                                                           BB+/Stable
Abhay Ispat (India) Pvt Ltd             CC                 CRISIL         1765    Downgraded
                                                           BBB-/Stable            from CRISIL
                                                                                  BBB/Stable
Abhay Ispat (India) Pvt Ltd             Channel Financing  CRISIL         400     Downgraded
                                                           BBB-/Stable            from CRISIL
                                                                                  BBB/Stable
Abhay Ispat (India) Pvt Ltd             Electronic Dealer  CRISIL         500     Downgraded
                                        Financing          BBB-/Stable            from CRISIL
                                        Scheme(e-DFS)                             BBB/Stable
Abhay Nutrition Pvt Ltd                 BG                 CRISIL D       20      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Abhay Nutrition Pvt Ltd                 CC                 CRISIL D       1200    Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Abhay Nutrition Pvt Ltd                 Pledge Loan        CRISIL D       500     Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Abhay Nutrition Pvt Ltd                 Proposed LT Bk     CRISIL D       110     Downgraded
                                        Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
Abhay Nutrition Pvt Ltd                 TL                 CRISIL D       220     Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Abhirami Pet Industries Pvt Ltd         CC                 CRISIL         30      Withdrawn
                                                           BB/Stable
Issuer Not Cooperating
Abhirami Pet Industries Pvt Ltd         LT Bk Fac          CRISIL         19      Withdrawn
                                                           BB/Stable
Issuer Not Cooperating
Abhirami Pet Industries Pvt Ltd         Proposed WC Fac    CRISIL         31      Withdrawn
                                                           BB/Stable
Issuer Not Cooperating
Akkavila Sajeenan Aggregates            CC                 CRISIL         30      Withdrawn
                                                           B+/Stable
Issuer Not Cooperating
Akkavila Sajeenan Aggregates            Proposed CC Limit  CRISIL         10      Withdrawn
                                                           B+/Stable
Issuer Not Cooperating
Amruta Hatcheries & Foods               TL                 CRISIL         30.5    Assigned
                                                           BB/Stable
Amruta Hatcheries & Foods               CC                 CRISIL         40      Assigned
                                                           BB/Stable
Amruta Hatcheries & Foods               Proposed CC Limit  CRISIL         29.5    Assigned
                                                           BB/Stable
Arudra Engineers Pvt Ltd                CC                 CRISIL         80      Reaffirmed
                                                           A-/Stable
Arvind Export Solvent Oil Industries    CC                 CRISIL         120     Reaffirmed
                                                           BB-/Stable
Arya Industries                         CC                 CRISIL         100     Reaffirmed
                                                           BB-/Stable
Arya Industries                         Proposed TL        CRISIL         25      Reaffirmed
                                                           BB-/Stable
Bhadreswar Agro Pvt Ltd                 CC                 CRISIL         40      Reaffirmed
                                                           BBB/Stable
Bhadreswar Agro Pvt Ltd                 Proposed LT Bk     CRISIL         50      Reaffirmed
                                        Loan Fac           BBB/Stable
Bhadreswar Rice Mill                    CC                 CRISIL         120     Reaffirmed
                                                           BBB/Stable
Bhadreswar Rice Mill                    Proposed LT Bk     CRISIL         87.7    Reaffirmed
                                        Loan Fac           BBB/Stable
Bishnu Mangal Rice Mill                 CC                 CRISIL         40      Reaffirmed
                                                           BBB-/Stable
Bishnu Mangal Rice Mill                 Proposed LT Bk     CRISIL         9.9     Reaffirmed
                                        Loan Fac           BBB-/Stable
Celebrity Breweries Pvt Ltd             CC                 CRISIL         12      Upgraded from
                                                           BB+/Stable             CRISIL
                                                                                  BB-/Stable
Celebrity Breweries Pvt Ltd             Proposed TL        CRISIL         2.5     Upgraded from
                                                           BB+/Stable             CRISIL
                                                                                  BB-/Stable
Celebrity Breweries Pvt Ltd             TL                 CRISIL         655.5   Upgraded from
                                                           BB+/Stable             CRISIL
                                                                                  BB-/Stable
Cheema Boilers Ltd                      CC                 CRISIL         233     Reaffirmed
                                                           BBB-/Stable
Cheema Boilers Ltd                      Proposed LT Bk     CRISIL         4.9     Reaffirmed
                                        Loan Fac           BBB-/Stable
Cheema Boilers Ltd                      TL                 CRISIL         90      Reaffirmed
                                                           BBB-/Stable
Choksey Chemicals Pvt Ltd               CC                 CRISIL B/Stable62.5    Reaffirmed
Choksey Chemicals Pvt Ltd               Proposed FB Bk     CRISIL B/Stable35      Reaffirmed
                                        Limits
Coatings and Coatings India Pvt Ltd     CC                 CRISIL         80      Withdrawn
                                                           BB+/Stable
Issuer Not Cooperating
Coatings and Coatings India Pvt Ltd     LOC                CRISIL         20      Withdrawn
                                                           BB+/Stable
Issuer Not Cooperating
Coatings and Coatings India Pvt Ltd     TL                 CRISIL         20      Withdrawn
                                                           BB+/Stable
Issuer Not Cooperating
Coatings and Coatings India Pvt Ltd     WC Demand Loan     CRISIL         120     Withdrawn
                                                           BB+/Stable
Issuer Not Cooperating
Colorshine Coated Pvt Ltd               CC                 CRISIL         500     Downgraded
                                                           BB+/Stable             from CRISIL
                                                                                  BBB-/Stable
Colorshine Coated Pvt Ltd               TL                 CRISIL         210     Downgraded
                                                           BB+/Stable             from CRISIL
                                                                                  BBB-/Stable
Concept Motors India Pvt Ltd            CC                 CRISIL         170     Reaffirmed
                                                           BB+/Stable
Concept Motors India Pvt Ltd            Inventory Funding  CRISIL         330     Reaffirmed
                                        Fac                BB+/Stable
DPB Antibiotics                         CC                 CRISIL         365     Reaffirmed
                                                           BBB/Stable
Galaxy Chains Pvt Ltd                   CC                 CRISIL         4.5     Assigned
                                                           BB-/Stable
Galaxy Conveyors Pvt Ltd                CC                 CRISIL         7       Assigned
                                                           BB-/Stable
Geltec Pvt Ltd                          CC$                CRISIL         120     Reaffirmed
                                                           A+/Stable
$Inclusive of sub-limit of working capital demand loan, export packing credit to the extent of
Rs 5 crore each
Geltec Pvt Ltd                          Proposed CC Limit  CRISIL         120     Withdrawn
                                                           A+/Stable
Hi-Tech Audio Systems Pvt Ltd           Rating Advisory    --             --      --
CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review
IGP Engineers Pvt Ltd                   CC                 CRISIL A/Stable100     Reaffirmed
IGP Engineers Pvt Ltd                   Proposed LT Bk     CRISIL A/Stable70      Reaffirmed
                                        Loan Fac
Indian Securities Ltd                   CC                 CRISIL         210     Withdrawn
                                                           BB+/Stable
Indian Securities Ltd                   LT Loan            CRISIL         98      Withdrawn
                                                           BB+/Stable
IndoStar Capital Finance Ltd STAR PCG   Acquirers Payouts  CRISIL AA (SO) -       -
CV SERIES I OCT 19                                         Equivalent 
Converted from Provisional Credit Opinion to Final Credit Opinion
irupati LPG Industries Pvt Ltd          Rating Advisory    --             --      --
CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review
Jagdish Rice Mills                      CC                 CRISIL         220     Reaffirmed
                                                           BBB-/Negative
Outlook revised from Stable
Jai Ganesh Ispat and Ferro Alloys Pvt   CC                 CRISIL         82.5    Reaffirmed
Ltd                                                        BBB/Stable
Jai Ganesh Ispat and Ferro Alloys Pvt   Channel Financing  CRISIL         187.5   Reaffirmed
Ltd                                                        BBB/Stable
KNK Construction Pvt Ltd                BG                 CRISIL D       900     Downgraded
                                                                                  from CRISIL
                                                                                  BB+/Stable
KNK Construction Pvt Ltd                Overdraft          CRISIL D       300     Downgraded
                                                                                  from CRISIL
                                                                                  BB+/Stable
KNK Construction Pvt Ltd                Proposed BG        CRISIL D       250     Downgraded
                                                                                  from CRISIL
                                                                                  BB+/Stable
KNK Construction Pvt Ltd                Proposed Overdraft CRISIL D       300     Downgraded
                                        Fac                                       from CRISIL
                                                                                  BB+/Stable
Kovai Medical Center Research and       LT Loan            CRISIL         545     Reaffirmed
Educational Trust                                          BBB/Stable
Laxmi Megan Speciality Health Care Pvt  Proposed LT Bk     -              3000    Withdrawn
Ltd                                     Loan Fac
Loordhu Ammal Educational Trust         LT Loan            CRISIL B/Stable250     Upgraded from
                                                                                  CRISIL D
Luke Export                             TL                 CRISIL         20      Reaffirmed
                                                           BB-/Stable
Magma Fincorp Ltd MFL Securitisation    Series A1 PTCs     CRISIL AAA (SO)94.74   -
Trust XCIV
Converted from Provisional Rating to Final Rating
Magma Fincorp Ltd MFL Securitisation    Series A2 PTCs     CRISIL AAA (SO)1.93    -
Trust XCIV
Converted from Provisional Rating to Final Rating
Magma Fincorp Ltd MFL Securitisation    Second loss Fac    CRISIL BBB+    3.095   -
Trust XCIV                                                 (SO) Equivalent
Converted from Provisional Rating to Final Rating
Netafim Irrigation India Pvt Ltd        CC                 CRISIL A/Stable3000    Reaffirmed
Outlook revised from Stable
Netafim Irrigation India Pvt Ltd        Proposed CC Limit  CRISIL A/Stable240     Reaffirmed
Outlook revised from Stable
Nirav Metals Pvt Ltd                    CC                 CRISIL         75      Reaffirmed
                                                           BB-/Stable
Oswal Agricomm Pvt Ltd                  CC                 CRISIL         40      Reaffirmed
                                                           BB-/Stable
Parth Cotton and Oil Industries         CC                 CRISIL         50      Assigned
                                                           B+/Stable
Parth Cotton and Oil Industries         TL                 CRISIL         5       Assigned
                                                           B+/Stable
Prathiba Developers Pvt Ltd             CC                 CRISIL         40      Reaffirmed
                                                           BB-/Stable
Prathiba Developers Pvt Ltd             Proposed LT Bk     CRISIL         23.3    Reaffirmed
                                        Loan Fac           BB-/Stable
Radha Kishan Agrotech Pvt Ltd           CC                 CRISIL         75      Reaffirmed
                                                           BB-/Stable
Radha Kishan Agrotech Pvt Ltd           Proposed FB Bk     CRISIL         5       Reaffirmed
                                        Limits             BB-/Stable
Raghava Life Sciences Pvt Ltd           Proposed BG        CRISIL B/Stable15      Withdrawn
Raghava Life Sciences Pvt Ltd           Proposed CC Limit  CRISIL B/Stable150     Withdrawn
Raghava Life Sciences Pvt Ltd           Proposed TL        CRISIL B/Stable420     Withdrawn
Rajaram Solvex Ltd                      CC                 CRISIL         244     Reaffirmed
                                                           BB+/Stable
Rajeshwari Cotspin Ltd                  BG                 CRISIL D       10      Downgraded
                                                                                  from CRISIL
                                                                                  B+/Stable
Rajeshwari Cotspin Ltd                  CC                 CRISIL D       75      Downgraded
                                                                                  from CRISIL
                                                                                  B+/Stable
Rajeshwari Cotspin Ltd                  TL                 CRISIL D       340     Downgraded
                                                                                  from CRISIL
                                                                                  B+/Stable
Ramya Reprographic Pvt Ltd              CC                 CRISIL         150     Withdrawn
                                                           BB+/Stable
Samrat Gems Impex Pvt Ltd               CC                 CRISIL         29.5    Reaffirmed
                                                           BB-/Stable
Samrat Gems Impex Pvt Ltd               Proposed CC Limit  CRISIL         0.5     Reaffirmed
                                                           BB-/Stable
Sidhanath Sugar Mills Ltd               Pledge Loan        CRISIL D       750     Downgraded
                                                                                  from CRISIL
                                                                                  B+/Stable
Sidhanath Sugar Mills Ltd               Proposed WC Fac    CRISIL D       200     Downgraded
                                                                                  from CRISIL
                                                                                  B+/Stable
Sidhanath Sugar Mills Ltd               Rupee TL           CRISIL D       100     Downgraded
                                                                                  from CRISIL
                                                                                  B+/Stable
Sidhanath Sugar Mills Ltd               Sugar Pledge CC    CRISIL D       400     Downgraded
                                                                                  from CRISIL
                                                                                  B+/Stable
Sidhanath Sugar Mills Ltd               TL                 CRISIL D       250     Downgraded
                                                                                  from CRISIL
                                                                                  B+/Stable
Sidharth Exporters                      CC                 CRISIL         220     Reaffirmed
                                                           BBB-/Negative
Outlook revised from Stable
Sri Karpagam Mills India Pvt Ltd        CC                 CRISIL D       362.5   Downgraded
                                                                                  from CRISIL
                                                                                  BB/Stable
Sri Karpagam Mills India Pvt Ltd        LOC                CRISIL D       134.5   Downgraded
                                                                                  from CRISIL
                                                                                  BB/Stable
Sri Karpagam Mills India Pvt Ltd        LT Loan            CRISIL D       82      Downgraded
                                                                                  from CRISIL
                                                                                  BB/Stable
Sri Karpagam Mills India Pvt Ltd        Proposed LT Bk     CRISIL D       20      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB/Stable
Sri Karpagam Mills India Pvt Ltd        WC Demand Loan     CRISIL D       50      Downgraded
                                                                                  from CRISIL
                                                                                  BB/Stable
Star Royal Distributors                 CC                 CRISIL         225     Reaffirmed
                                                           BB-/Stable
Star Royal Distributors                 Proposed LT Bk     CRISIL         25      Reaffirmed
                                        Loan Fac           BB-/Stable
Structural Solutions Pvt Ltd            Overdraft          CRISIL         40      Reaffirmed
                                                           B+/Stable
Structural Solutions Pvt Ltd            Proposed LT Bk     CRISIL         30      Reaffirmed
                                        Loan Fac           B+/Stable
Surface Engineering Pvt Ltd             CC                 CRISIL         25      Upgraded from
                                                           BB/Stable              CRISIL
                                                                                  BB-/Stable
Tirupati Cylinder Pvt Ltd               Rating Advisory    --             --      --
CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review
Ultima Switchgears Ltd                  BG                 CRISIL B/Stable60      Withdrawn
Issuer Not Cooperating
Ultima Switchgears Ltd                  Bill Discounting   CRISIL B/Stable15      Withdrawn
                                        under LOC
Issuer Not Cooperating
Ultima Switchgears Ltd                  CC                 CRISIL B/Stable60      Withdrawn
Issuer Not Cooperating
Ultima Switchgears Ltd                  Proposed LT Bk     CRISIL B/Stable5       Withdrawn
                                        Loan Fac
Issuer Not Cooperating
UltraTech Cement Ltd                    External           CRISIL         9714.2  Reaffirmed
                                        Commercial         AAA/Stable
                                        Borrowings
UltraTech Cement Ltd                    Proposed LT Bk     CRISIL         19895.8 Reaffirmed
                                        Loan Fac           AAA/Stable
UltraTech Cement Ltd                    Rupee TL           CRISIL         113072.6Reaffirmed
                                                           AAA/Stable
UltraTech Cement Ltd                    NCD                CRISIL         2500    Reaffirmed
                                                           AAA/Stable
UltraTech Cement Ltd                    NCD                CRISIL         2500    Reaffirmed
                                                           AAA/Stable
UltraTech Cement Ltd                    NCD                CRISIL         2500    Reaffirmed
                                                           AAA/Stable
UltraTech Cement Ltd                    NCD                CRISIL         3600    Reaffirmed
                                                           AAA/Stable
UltraTech Cement Ltd                    NCD                CRISIL         2500    Reaffirmed
                                                           AAA/Stable
UltraTech Cement Ltd                    NCD                CRISIL         5000    Reaffirmed
                                                           AAA/Stable
UltraTech Cement Ltd                    NCD                CRISIL         6500    Reaffirmed
                                                           AAA/Stable
UltraTech Cement Ltd                    NCD                CRISIL         3000    Reaffirmed
                                                           AAA/Stable
Umed Sizers                             Bill Discounting   CRISIL         120     Upgraded from
                                                           BBB/Stable             CRISIL
                                                                                  BBB-/Stable
Umed Sizers                             Proposed LT Bk     CRISIL         4       Upgraded from
                                        Loan Fac           BBB/Stable             CRISIL
                                                                                  BBB-/Stable
Umed Tex-Fab Pvt Ltd                    Rupee TL           CRISIL         95      Upgraded from
                                                           BBB/Stable             CRISIL
                                                                                  BBB-/Stable
Universal Medicare Pvt Ltd              CC#                CRISIL         50      Reaffirmed
                                                           A+/Stable
#Fully interchangeable with working capital demand loan; interchangeable with export packing
credit, letter of credit and bank guarantee to the extent of Rs 0.25 crore, Rs 1 crore and Rs
0.6 crore respectively
Universal Medicare Pvt Ltd              FB Fac*            CRISIL         150     Withdrawn
                                                           A+/Stable
*Interchangeable with non-fund based limit to the extent of Rs 10 crore
Universal Medicare Pvt Ltd              Proposed CC Limit  CRISIL         4.5     Withdrawn
                                                           A+/Stable
V. P. Engineers                         CC                 CRISIL         10      Reaffirmed
                                                           BB+/Stable
V. P. Engineers                         Proposed LT Bk     CRISIL         16      Reaffirmed
                                        Loan Fac           BB+/Stable
V. P. Engineers                         TL                 CRISIL         18.6    Reaffirmed
                                                           BB+/Stable
VEE GEE Auto Components Pvt Ltd         Rating Advisory    --             --      --
CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review
VeeGee Industrial Enterprises Pvt Ltd   Rating Advisory    --             --      --
CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review
Viral Associates                        BG                 CRISIL         100     Rating
                                                           BB/Stable              reaffirmed
                                                                                  and Withdrawn
Viral Associates                        CC                 CRISIL         5       Rating
                                                           BB/Stable              reaffirmed
                                                                                  and Withdrawn
Viral Associates                        Proposed BG        CRISIL         35      Rating
                                                           BB/Stable              reaffirmed
                                                                                  and Withdrawn
Viral Associates                        Proposed LT Bk     CRISIL         30      Rating
                                        Loan Fac           BB/Stable              reaffirmed
                                                                                  and Withdrawn
Yash Poly Industries Pvt Ltd            CC                 CRISIL         200     Reaffirmed
                                                           BB+/Stable
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

CRISIL may apply + or - signs for ratings to reflect a comparative standing within the category.

BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate
of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial
Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference
shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN
-Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of
Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option
convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) -
Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non
Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over
Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture;
PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional;
PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass
Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference
notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured
Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short
Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable
Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222 , E-mail at rru.data@refinitiv.com)
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