January 30, 2020 / 10:12 AM / in 23 days

CRISIL ratings for Indian debt instruments-Jan 30

   Jan 30  - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of January 29, 2020.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Advance Metal Powder Pvt Ltd            Inland/Import LOC  CRISIL A4+     30      Reaffirmed
Amba Shakti Ispat Ltd                   BG                 CRISIL A4+     30      Reaffirmed
(Issuer Not Cooperating)
Amba Shakti Ispat Ltd                   LOC                CRISIL A4+     120     Reaffirmed
(Issuer Not Cooperating)
Anoopam Realtech Pvt Ltd                BG                 CRISIL A4      10      Assigned
Anshul Specialty Molecules Pvt Ltd      BG                 CRISIL A2      0.8     Reaffirmed
Anshul Specialty Molecules Pvt Ltd      Foreign Exchange   CRISIL A2      8       Reaffirmed
                                        Fac
Anshul Specialty Molecules Pvt Ltd      LOC                CRISIL A2      50      Assigned
Aryan Tea Plantation Pvt Ltd            BG                 CRISIL A4+     2       Reaffirmed
(Issuer Not Cooperating)
Averina International Resorts Pvt Ltd   BG                 CRISIL A3+     26      Reaffirmed
Avon Cycles Ltd                         BG                 CRISIL A1+     660     Reaffirmed
Avon Cycles Ltd                         Bill Discounting   CRISIL A1+     150     Reaffirmed
Century Textiles and Industries Ltd     Non-FBL            CRISIL A1+     7500    -
Century Textiles and Industries Ltd     CP                 CRISIL A1+     10000   Reaffirmed
Charankattu Coir Manufacturing Co Pvt   Foreign            CRISIL A4+     40      Reaffirmed
Ltd                                     Discounting Bill
                                        Purchase
Charankattu Coir Manufacturing Co Pvt   Inland/Import LOC  CRISIL A4+     10      Reaffirmed
Ltd
Charankattu Coir Manufacturing Co Pvt   Packing Credit     CRISIL A4+     27.5    Reaffirmed
Ltd
Empowertrans Pvt Ltd                    BG                 CRISIL A4+     500     Reaffirmed
Gadia Structurals Pvt Ltd               BG                 CRISIL A4      100     Reaffirmed
Global Tech India Pvt Ltd               LOC                CRISIL A4+     7.5     Reaffirmed
(Issuer Not Cooperating)
Joys Steel Impex                        LOC                CRISIL A4      70      -
(Downgraded from CRISIL A4+)
Jumax Foam Pvt Ltd                      Foreign Exchange   CRISIL A4+     50      -
                                        Forward
(Migrated from CRISIL A4 ISSUER NOT COOPERATING)
Juniper Constructions Pvt Ltd           BG                 CRISIL A4+     116.1   Reaffirmed
(Issuer Not Cooperating)
K T Exports India Pvt Ltd               Packing Credit     CRISIL A3      60      Reaffirmed
KGN Comtrade Pvt Ltd                    Proposed ST Bk     CRISIL A4+     5       Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
M. E. Energy Pvt Ltd                    BG                 CRISIL A4+     250     Reaffirmed
(Issuer Not Cooperating)
M. E. Energy Pvt Ltd                    LOC                CRISIL A4+     35      Reaffirmed
(Issuer Not Cooperating)
M/S. R.Z. Malpani                       BG                 CRISIL A4      62.5    Reaffirmed
(Issuer Not Cooperating)
Maha Hydraulics Pvt Ltd                 BG                 CRISIL A4+     50      Reaffirmed
(Issuer Not Cooperating)
Maha Hydraulics Pvt Ltd                 LOC                CRISIL A4+     20      Reaffirmed
(Issuer Not Cooperating)
Maharashtra Aldehydes & Chemicals Ltd   BG                 CRISIL A3      22.5    Reaffirmed
Maharashtra Aldehydes & Chemicals Ltd   LOC                CRISIL A3      80      Reaffirmed
Max Speciality Films Ltd                CP                 CRISIL A2+     500     Reaffirmed
Max Speciality Films Ltd                Non-FBL            CRISIL A2+     250     Assigned
MLJ Impex Ltd                           LOC                CRISIL A4+     90      Reaffirmed
(Issuer Not Cooperating)
Mohan Fibre Products Ltd                LOC                CRISIL A2      5       Reaffirmed
Nabam Tullon LLP                        BG                 CRISIL A3      700     Reaffirmed
Rajbir Construction Pvt Ltd             BG                 CRISIL A4      710     -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Ramsons Industries Ltd                  BG                 CRISIL A4      25      -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Rinki Oil Extruction Pvt Ltd            BG                 CRISIL A4      20      -
(Issuer Not Cooperating)
RKD Construction Pvt Ltd                BG                 CRISIL A4      1550    -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
RKD Construction Pvt Ltd                Proposed BG        CRISIL A4      525     -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Sami Labs Ltd                           BG                 CRISIL A1      15      -
(Upgraded from CRISIL A2+)
Sami Labs Ltd                           Export Packing     CRISIL A1      1100    -
                                        Credit
(Upgraded from CRISIL A2+)
Sami Labs Ltd                           Foreign Bill       CRISIL A1      160     -
                                        Discounting
(Upgraded from CRISIL A2+)
Sami Labs Ltd                           LOC                CRISIL A1      25      -
(Upgraded from CRISIL A2+)
Santhosh Buildwel Infra Pvt Ltd         BG                 CRISIL A4      95      -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Sarju Vitrified Pvt Ltd                 BG                 CRISIL A4      38.8    Reaffirmed
(Issuer Not Cooperating)
Saru Silver Alloys Pvt Ltd              Packing Credit     CRISIL A4      60      -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)

Scc Infrastructure Pvt Ltd              BG                 CRISIL A4      350     -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Shivalik India Alco Pvt Ltd             BG                 CRISIL A4+     15      Reaffirmed
Shree Bhageshwari Papers Pvt Ltd        BG                 CRISIL A4      65      -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Shree Bhageshwari Papers Pvt Ltd        Foreign Exchange   CRISIL A4      5.8     -
                                        Forward
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Shree Bhageshwari Papers Pvt Ltd        LOC                CRISIL A4      140     -
(ISSUER NOT COOPERATING; Revised from CRISIL A4+)
Shubhlaxmi Polytex Ltd                  LOC                CRISIL A3+     35      Reaffirmed
Shyam Joti Rice Mill Pvt Ltd            BG                 CRISIL A4      7       Reaffirmed
(Issuer Not Cooperating)
Sirium Ceramic Pvt Ltd                  BG                 CRISIL A4      17.5    Reaffirmed
(Issuer Not Cooperating)
SMO Ferro Alloys Pvt Ltd                BG                 CRISIL A4+     25      Assigned
Span Associates                         BG                 CRISIL A4+     30      Reaffirmed
Sri Varsha Food Products India Ltd      LOC                CRISIL A4+     100     Reaffirmed
(Migrated from CRISIL A4+ ISSUER NOT COOPERATING)
Sunny Trexim Pvt Ltd                    Bill Discounting   CRISIL A4+     90      Assigned
Sunny Trexim Pvt Ltd                    Packing Credit in  CRISIL A4+     160     Assigned
                                        Foreign Currency
The Seal Coat Structural Works Pvt Ltd  BG                 CRISIL A4      15      Reaffirmed
(Issuer Not Cooperating)
Thiru Rani Logistic Pvt Ltd             Overdraft          CRISIL A4+     15      Reaffirmed
(Issuer Not Cooperating)
Tractel Tirfor India Pvt Ltd            BG                 CRISIL A4      57      Reaffirmed
(Issuer Not Cooperating)
Triveni Enterprises - Kota              BG                 CRISIL A4      40      Reaffirmed
(Issuer Not Cooperating)
TVS Credit Services Ltd                 ST Loan            CRISIL A1+     2250    Reaffirmed
TVS Credit Services Ltd                 CP                 CRISIL A1+     15000   Reaffirmed
Win-Win Automobiles Pvt Ltd             BG                 CRISIL A4      20      Reaffirmed


LONG TERM RATINGS:
-------------------
Advance Metal Powder Pvt Ltd            CC                 CRISIL         130     Reaffirmed
                                                           BB-/Stable
Amba Shakti Ispat Ltd                   CC                 CRISIL         300     Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Andhra Pradesh Capital Region           Bond               CRISIL A+(CE)  20000   -
Development Authority
(Placed on Rating Watch with Negative Implications)
Anoopam Realtech Pvt Ltd                Proposed LT Bk     CRISIL         30.3    Assigned
                                        Loan Fac           B+/Stable
Anoopam Realtech Pvt Ltd                LT Loan            CRISIL         9.7     Assigned
                                                           B+/Stable
Anoopam Realtech Pvt Ltd                CC                 CRISIL         30      Assigned
                                                           B+/Stable
Anshul Specialty Molecules Pvt Ltd      CC                 CRISIL         70      Reaffirmed
                                                           BBB+/Stable
Anshul Specialty Molecules Pvt Ltd      Export Packing     CRISIL         30      Reaffirmed
                                        Credit             BBB+/Stable
Anshul Specialty Molecules Pvt Ltd      Proposed FB Bk     CRISIL         111.2   Assigned
                                        Limits             BBB+/Stable
Arihant Prakashan                       CC                 CRISIL         300     Reaffirmed
                                                           BBB-/Negative
(Outlook revised from Stable and rating reaffirmed)
Arihant Publications India Ltd          CC                 CRISIL         400     Reaffirmed
                                                           BBB-/Negative
Arihant Publications India Ltd          Proposed WC Fac    CRISIL         30      Reaffirmed
                                                           BBB-/Negative
Aryan Tea Plantation Pvt Ltd            CC                 CRISIL         55      Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Aryan Tea Plantation Pvt Ltd            Proposed LT Bk     CRISIL         42.5    Reaffirmed
                                        Loan Fac           BB+/Stable
(Issuer Not Cooperating)
Averina International Resorts Pvt Ltd   Overdraft          CRISIL         60      Reaffirmed
                                                           BBB/Stable
Averina International Resorts Pvt Ltd   Rupee TL           CRISIL         113.8   Reaffirmed
                                                           BBB/Stable
Avon Cycles Ltd                         CC                 CRISIL         540     Reaffirmed
                                                           A+/Positive
Avon Cycles Ltd                         Export Packing     CRISIL         150     Reaffirmed
                                        Credit             A+/Positive
Baazar Style Retail Pvt Ltd             CC                 CRISIL         390     Reaffirmed
                                                           BBB+/Stable
Baazar Style Retail Pvt Ltd             Proposed FB Bk     CRISIL         140.7   Reaffirmed
                                        Limits             BBB+/Stable
Baazar Style Retail Pvt Ltd             TL                 CRISIL         219.3   Assigned
                                                           BBB+/Stable
Bundelkhand Automobiles Pvt Ltd         CC                 CRISIL         30      Reaffirmed
                                                           BB/Stable
Bundelkhand Automobiles Pvt Ltd         Electronic Dealer  CRISIL         50      Reaffirmed
                                        Financing          BB/Stable
                                        Scheme(e-DFS)
Bundelkhand Automobiles Pvt Ltd         Loan Against       CRISIL         70      Reaffirmed
                                        Property           BB/Stable
Bundelkhand Automobiles Pvt Ltd         TL                 CRISIL         5.9     Reaffirmed
                                                           BB/Stable
Century Textiles and Industries Ltd     FB Fac             -              13510   Withdrawn
Century Textiles and Industries Ltd     Non-FBL            -              3500    Withdrawn
Century Textiles and Industries Ltd     Proposed LT Bk     -              2446.3  Withdrawn
                                        Loan Fac
Century Textiles and Industries Ltd     Rupee TL           -              25854.4 Withdrawn
Century Textiles and Industries Ltd     NCD                CRISIL         4000    Assigned
                                                           AA/Stable
Century Textiles and Industries Ltd     NCD                CRISIL         7000    Reaffirmed
                                                           AA/Stable
Century Textiles and Industries Ltd     FB Fac             CRISIL         1490    Reaffirmed
                                                           AA/Stable
Century Textiles and Industries Ltd     Rupee TL           CRISIL         7182.3  Assigned
                                                           AA/Stable
Charankattu Coir Manufacturing Co Pvt   Proposed LT Bk     CRISIL         21.5    Reaffirmed
Ltd                                     Loan Fac           BB/Stable
Charankattu Coir Manufacturing Co Pvt   TL                 CRISIL         1       Reaffirmed
Ltd                                                        BB/Stable
Delhi Transco Ltd                       Bond               CRISIL         6200    -
                                                           A+/Stable
(Upgraded from CRISIL A/Stable)
Dhabaleswar Traders                     CC                 CRISIL         50      Assigned
                                                           B+/Stable
Dhabaleswar Traders                     Proposed LT Bk     CRISIL         50      Assigned
                                        Loan Fac           B+/Stable
Dhruva Advisors LLP                     CC & WC demand loan-              100     Withdrawn
El Roi Builders And Developers Pvt Ltd  LT Loan            CRISIL         50      Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
El Roi Builders And Developers Pvt Ltd  Proposed LT Bk     CRISIL         50      Reaffirmed
                                        Loan Fac           B/Stable
(Issuer Not Cooperating)
Elegant Forge and Equipments Pvt Ltd    Proposed TL        CRISIL B/Stable150     -
(Downgraded from CRISIL BB-/Stable)
Empowertrans Pvt Ltd                    CC                 CRISIL         200     Reaffirmed
                                                           BB/Stable
Empowertrans Pvt Ltd                    Proposed FB Bk     CRISIL         700     Reaffirmed
                                        Limits             BB/Stable
G V Knits Pvt Ltd                       CC                 CRISIL         27      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
G V Knits Pvt Ltd                       LT Loan            CRISIL         36      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Gadia Structurals Pvt Ltd               CC                 CRISIL         130     Reaffirmed
                                                           B+/Stable
Gadia Structurals Pvt Ltd               Proposed LT Bk     CRISIL         20      Reaffirmed
                                        Loan Fac           B+/Stable
Global Tech India Pvt Ltd               CC                 CRISIL         22      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Global Tech India Pvt Ltd               Foreign Bill       CRISIL         15      Reaffirmed
                                        Purchase           BB-/Stable
(Issuer Not Cooperating)
Global Tech India Pvt Ltd               Proposed LT Bk     CRISIL         25.5    Reaffirmed
                                        Loan Fac           BB-/Stable
(Issuer Not Cooperating)
Goyal Farm Fresh                        LT Loan            CRISIL         79      Reaffirmed
                                                           B+/Stable
(Migrated from CRISIL B+/Stable; ISSUER NOT COOPERATING)
Goyal Farm Fresh                        Proposed LT Bk     CRISIL         9       Assigned
                                        Loan Fac           B+/Stable
(Migrated from CRISIL B+/Stable; ISSUER NOT COOPERATING)
Green Urja Pvt Ltd                      TL                 -              200     Withdrawn
Green Urja Pvt Ltd                      BG                 CRISIL         180     Reaffirmed
                                                           A-/Stable
Green Urja Pvt Ltd                      TL                 CRISIL         1520    Reaffirmed
                                                           A-/Stable
HI Tech Trans Technocrates Pvt Ltd      TL                 CRISIL         1       Assigned
                                                           B/Stable
HI Tech Trans Technocrates Pvt Ltd      CC                 CRISIL         6       Assigned
                                                           B/Stable
HI Tech Trans Technocrates Pvt Ltd      Proposed CC Limit  CRISIL         3       Assigned
                                                           B/Stable
High Range Coffee Curring Pvt Ltd       Overdraft          CRISIL         52.5    Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
IIFL ROBUST CV TRUST NOV 2018           Series A PTCs      CRISIL AAA (SO)-       Reaffirmed
(Originator: India Infoline Finance Ltd)
(Removed from Rating Watch with Developing Implications)
IIHFL PCG Sep 2019 (Originator: IIFL    Acquirer Payouts   CRISIL AA (SO) -       Final Rating
Home Finance Ltd)                                          Equivalent
Jai Hanuman Cotton Ginning Mills Pvt LtdCC                 CRISIL         49.5    Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Jai Hanuman Cotton Ginning Mills Pvt LtdLT Loan            CRISIL         5       Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Jai Hanuman Cotton Ginning Mills Pvt LtdProposed WC Fac    CRISIL         15.5    Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Jharkhand Road Projects Implementation  NCD                CRISIL C       4107.4  Upgraded from
Co. Ltd                                                                           CRISIL D
 
Joys Steel Impex                        CC                 CRISIL         390     -
                                                           B+/Stable
(Downgraded from CRISIL BB-/Stable)
Jumax Foam Pvt Ltd                      CC                 CRISIL         50      -
                                                           BB+/Stable
(Migrated from CRISIL B+/Stable ISSUER NOT COOPERATING)
Juniper Constructions Pvt Ltd           Proposed LT Bk     CRISIL         3.9     Reaffirmed
                                        Loan Fac           BB-/Stable
(Issuer Not Cooperating)
Juniper Constructions Pvt Ltd           CC                 CRISIL         30      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
K Karuppa Gounder And Others            CC                 CRISIL         40      -
                                                           BB/Stable
(Upgraded from CRISIL BB-/Stable)
K Karuppa Gounder And Others            LT Loan            CRISIL         15      -
                                                           BB/Stable
(Upgraded from CRISIL BB-/Stable)
K Karuppa Gounder And Others            Proposed CC Limit  CRISIL         43.9    -
                                                           BB/Stable
(Upgraded from CRISIL BB-/Stable)
K T Exports India Pvt Ltd               CC                 CRISIL         10      Reaffirmed
                                                           BBB-/Stable
KGN Comtrade Pvt Ltd                    Proposed LT Bk     CRISIL         50      Reaffirmed
                                        Loan Fac           BB-/Stable
(Issuer Not Cooperating)
KGN Comtrade Pvt Ltd                    CC                 CRISIL         60      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
KGN Comtrade Pvt Ltd                    LT Loan            CRISIL         60      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Kuldevi Cotton Industries               CC                 CRISIL         47.5    Assigned
                                                           BB-/Stable
Kuldevi Cotton Industries               Proposed LT Bk     CRISIL         2.5     Assigned
                                        Loan Fac           BB-/Stable
M. E. Energy Pvt Ltd                    CC                 CRISIL         80      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
M. E. Energy Pvt Ltd                    Foreign LOC        CRISIL         15      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
M/s. K. K. Thorat                       CC                 CRISIL         75      -
                                                           BB-/Stable
(Downgraded from CRISIL BB/Stable)
M/S. R.Z. Malpani                       CC                 CRISIL B       25      Reaffirmed
(Issuer Not Cooperating)
M/S. R.Z. Malpani                       Proposed LT Bk     CRISIL B       37.5    Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
M/S. R.Z. Malpani                       Rupee TL           CRISIL B       25      Reaffirmed
(Issuer Not Cooperating)
Maha Hydraulics Pvt Ltd                 CC                 CRISIL         50      Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Maharashtra Aldehydes & Chemicals Ltd   CC                 CRISIL BBB-    160     Reaffirmed
Maharashtra Aldehydes & Chemicals Ltd   Packing Credit     CRISIL BBB-    45      Reaffirmed
Maharashtra Aldehydes & Chemicals Ltd   Proposed FB Bk     CRISIL BBB-    8.5     Reaffirmed
                                        Limits
Mamta Agro Industries                   CC                 CRISIL         17.5    Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Mamta Agro Industries                   Proposed LT Bk     CRISIL         17.5    Reaffirmed
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
Mamta Agro Industries                   TL                 CRISIL         35      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Max Speciality Films Ltd                Buyer`s Credit#    CRISIL         1144.9  Reaffirmed
                                                           A-/Stable
(#Convertible to respective term loans on maturity)
Max Speciality Films Ltd                WC Fac*            CRISIL         1600    Assigned
                                                           A-/Stable
(*Includes fund based and non-fund based working capital limits, which are fully
interchangeable)
Max Speciality Films Ltd                WC Fac^            CRISIL         500     -
                                                           A-/Stable
(^Includes Rs 30 crore of fund based working capital and Rs 45 crore of non-fund based working
capital with an overall capping of Rs 50 crore)
Max Speciality Films Ltd                TL                 CRISIL         2015.4  Assigned
                                                           A-/Stable
Max Speciality Films Ltd                Proposed LT Bk     CRISIL         9.7     Assigned
                                        Loan Fac           A-/Stable
Max Speciality Films Ltd                FB Fac             CRISIL         50      Assigned
                                                           A-/Stable
Mithra Auto Agencies Pvt Ltd            CC                 CRISIL         180     Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
Mithra Auto Agencies Pvt Ltd            LT Loan            CRISIL         10      Reaffirmed
                                                           BB-/Stable
(Issuer Not Cooperating)
MLJ Impex Ltd                           CC                 CRISIL         40      Reaffirmed
                                                           BB/Stable
(Issuer Not Cooperating)
Mohan Fibre Products Ltd                CC                 CRISIL         100     Reaffirmed
                                                           BBB+/Stable
Mohan Fibre Products Ltd                Proposed LT Bk     CRISIL         65      Reaffirmed
                                        Loan Fac           BBB+/Stable
Motil Devi Organic Food Industries Pvt  CC                 CRISIL         25      Reaffirmed
Ltd                                                        B/Stable
(Issuer Not Cooperating)
Motil Devi Organic Food Industries Pvt  TL                 CRISIL         35      Reaffirmed
Ltd                                                        B/Stable
(Issuer Not Cooperating)
Musaddilal Projects Pvt Ltd             LT Loan            CRISIL         570     Reaffirmed
                                                           BB+/Stable
(Issuer Not Cooperating)
Musaddilal Properties Pvt Ltd           LT Loan            CRISIL         440     Reaffirmed
                                                           BB+/Stable
(ISSUER NOT COOPERATING; Rating Migrated)
Nabam Tullon LLP                        CC                 CRISIL         200     Reaffirmed
                                                           BBB-/Stable
Nabam Tullon LLP                        Fund & NFBL        CRISIL         1.7     -
                                                           BBB-/Stable
Nabam Tullon LLP                        LT Loan            CRISIL         18.3    Assigned
                                                           BBB-/Stable
Nagarjuna Steel Pvt Ltd                 CC                 CRISIL         50      -
                                                           B+/Stable
Nagarjuna Steel Pvt Ltd                 Electronic Dealer  CRISIL         250     Assigned
                                        Financing          B+/Stable
                                        Scheme(e-DFS)
Nikhil Tobaccos                         CC                 CRISIL         300     Assigned
                                                           B+/Stable
Pacifica Builders Pvt Ltd               TL                 CRISIL         600     Withdrawn
                                                           BBB-/Stable
Pacifica Builders Pvt Ltd               TL                 CRISIL         350     Withdrawn
                                                           BBB-/Stable
Parag Seeds Pvt Ltd                     Warehouse Receipts CRISIL         100     Assigned
                                                           B+/Stable
Pebco Motors Ltd                        CC                 CRISIL         15      Reaffirmed
                                                           BBB/Stable
Pebco Motors Ltd                        Electronic Dealer  CRISIL         165     Reaffirmed
                                        Financing          BBB/Stable
                                        Scheme(e-DFS)
Pebco Motors Ltd                        LT Loan            CRISIL         57      Reaffirmed
                                                           BBB/Stable
Pebco Motors Ltd                        Standby FB Limits  CRISIL         40      Reaffirmed
                                                           BBB/Stable
Plaza Tex (India) Pvt Ltd               CC                 CRISIL         80      -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable)
PVS Automotive Company Pvt Ltd          CC                 CRISIL         30      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
PVS Automotive Company Pvt Ltd          Inventory Funding  CRISIL         81.4    Reaffirmed
                                        Fac                B+/Stable
(Issuer Not Cooperating)
Qureshi International Pvt Ltd           CC                 CRISIL         70      Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
R. M. Exports                           Export Packing     CRISIL         60      Reaffirmed
                                        Credit             B+/Stable
(Issuer Not Cooperating)
R. M. Exports                           Foreign Bill       CRISIL         37.5    Reaffirmed
                                        Discounting        B+/Stable
(Issuer Not Cooperating)
R. M. Exports                           Proposed LT Bk     CRISIL         25      Reaffirmed
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
R. M. Exports                           TL                 CRISIL         5       Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
R. M. Exports                           WC TL              CRISIL         32.5    Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Radha Krishna Firayalal & Co            CC                 CRISIL B       58.5    Reaffirmed
(Issuer Not Cooperating)
Radha Krishna Firayalal & Co            TL                 CRISIL B       6.5     Reaffirmed
(Issuer Not Cooperating)
Radium Creation Ltd                     Export Packing     CRISIL         230     Reaffirmed
                                        Credit             BBB-/Stable
Radium Creation Ltd                     LT Loan            CRISIL         150     Reaffirmed
                                                           BBB-/Stable
Rajbir Construction Pvt Ltd             CC                 CRISIL         35      -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB+/Stable)
Ram Meher Infradevelopers Pvt Ltd       Overdraft          CRISIL D       14      Reaffirmed
(Issuer Not Cooperating)
Ram Meher Infradevelopers Pvt Ltd       Proposed LT Bk     CRISIL D       51      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Ram Meher Infradevelopers Pvt Ltd       TL                 CRISIL D       50      Reaffirmed
(Issuer Not Cooperating)
Ramsons Industries Ltd                  TL                 CRISIL         30      -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable)
Ramsons Industries Ltd                  Buyer`s Credit     CRISIL         25      -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable)
Ramsons Industries Ltd                  CC                 CRISIL         100     -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable)
Rathi Packaging Pvt Ltd                 CC                 CRISIL         25      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Rathi Packaging Pvt Ltd                 TL                 CRISIL         34      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Rinki Oil Extruction Pvt Ltd            CC                 CRISIL         80      -
                                                           B+/Stable
(Issuer Not Cooperating)
Rinki Oil Extruction Pvt Ltd            Rupee TL           CRISIL         8       -
                                                           B+/Stable
(Issuer Not Cooperating)
Rinki Oil Extruction Pvt Ltd            Standby Line of    CRISIL         10      -
                                        Credit             B+/Stable
(Issuer Not Cooperating)
Ritechoice Foundations and Engineering  LT Loan            CRISIL         70      -
Pvt Ltd                                                    B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable)
Ritechoice Foundations and Engineering  Proposed LT Bk     CRISIL         80      -
Pvt Ltd                                 Loan Fac           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable)
RKD Construction Pvt Ltd                CC                 CRISIL         975     -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stabe)
Sami Labs Ltd                           Proposed TL        CRISIL         250     -
                                                           A/Positive
(Upgraded from CRISIL A-/Positive)
Santhosh Buildwel Infra Pvt Ltd         CC                 CRISIL         105     -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable)
Santosh Automotors Pvt Ltd              CC/ Overdraft Fac  CRISIL         17.5    -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Santosh Automotors Pvt Ltd              LT Loan            CRISIL         12.5    -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Santosh Automotors Pvt Ltd              Proposed WC Fac    CRISIL         80      -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Sarjan Watertech India Pvt Ltd          Buyer`s Credit     CRISIL         15      Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Sarjan Watertech India Pvt Ltd          CC                 CRISIL         50      Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Sarjan Watertech India Pvt Ltd          TL                 CRISIL         7       Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Sarju Vitrified Pvt Ltd                 CC                 CRISIL         75      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Sarju Vitrified Pvt Ltd                 LT Loan            CRISIL         236.2   Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Saru Silver Alloys Pvt Ltd              CC                 CRISIL         15      -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Scc Infrastructure Pvt Ltd              CC                 CRISIL         140     -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB+/Stable)
SCV SKY Vision                          CC                 CRISIL         10      -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable)
SCV SKY Vision                          LT Loan            CRISIL         50      -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB/Stable)
Sheetal Agrofood Park Pvt Ltd           Proposed LT Bk     CRISIL D       40      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Sheetal Agrofood Park Pvt Ltd           TL                 CRISIL D       50      Reaffirmed
(Issuer Not Cooperating)
Shikhar Integrated Cold Chain Pvt Ltd   TL                 CRISIL D       35      Assigned
Shikhar Integrated Cold Chain Pvt Ltd   WC Fac             CRISIL D       50      Assigned
Shivalik India Alco Pvt Ltd             CC                 CRISIL         147.5   Reaffirmed
                                                           BB/Stable
Shree Balaji Roller Flour Mills         Warehouse Receipts CRISIL         30      Assigned
                                                           BB-/Stable
Shree Balaji Roller Flour Mills         CC                 CRISIL         60      Assigned
                                                           BB-/Stable
Shree Balaji Roller Flour Mills         Proposed LT Bk     CRISIL         50      Assigned
                                        Loan Fac           BB-/Stable
Shree Bhageshwari Papers Pvt Ltd        CC                 CRISIL         300     -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB+/Stable)
Shree Bhageshwari Papers Pvt Ltd        TL                 CRISIL         89.2    -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB+/Stable)
Shree Krishna Buildcon Pvt Ltd          Proposed LT Bk     CRISIL D       5       Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Shree Krishna Buildcon Pvt Ltd          TL                 CRISIL D       545     Reaffirmed
(Issuer Not Cooperating)
Shri Jaipal Singh Sharma Trust          BG                 CRISIL D       95      Reaffirmed
(Issuer Not Cooperating)
Shri Jaipal Singh Sharma Trust          Overdraft          CRISIL D       150     Reaffirmed
(Issuer Not Cooperating)
Shri Jaipal Singh Sharma Trust          Proposed NFBL      CRISIL D       7.1     Reaffirmed
(Issuer Not Cooperating)
Shri Jaipal Singh Sharma Trust          TL                 CRISIL D       817.9   Reaffirmed
(Issuer Not Cooperating)
Shubhlaxmi Polytex Ltd                  CC                 CRISIL         287.5   Reaffirmed
                                                           BBB/Positive
Shubhlaxmi Polytex Ltd                  Proposed CC Limit  CRISIL         2.5     Reaffirmed
                                                           BBB/Positive
Shubhlaxmi Polytex Ltd                  TL                 CRISIL         425     Reaffirmed
                                                           BBB/Positive
Shyam Joti Rice Mill Pvt Ltd            CC                 CRISIL         42.6    Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Shyam Joti Rice Mill Pvt Ltd            Proposed LT Bk     CRISIL         0.1     Reaffirmed
                                        Loan Fac           B/Stable
(Issuer Not Cooperating)
Shyam Joti Rice Mill Pvt Ltd            TL                 CRISIL         63.3    Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Sirium Ceramic Pvt Ltd                  CC                 CRISIL         30      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Sirium Ceramic Pvt Ltd                  TL                 CRISIL         22.5    Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
SKP Business Consulting LLP             CC                 CRISIL         30      Reaffirmed
                                                           BB+/Stable
SKP Business Consulting LLP             Proposed LT Bk     CRISIL         81.5    Reaffirmed
                                        Loan Fac           BB+/Stable
SKP Business Consulting LLP             TL                 CRISIL         38.5    Reaffirmed
                                                           BB+/Stable
SMO Ferro Alloys Pvt Ltd                Proposed LT Bk     CRISIL         10      Assigned
                                        Loan Fac           BB+/Stable
SMO Ferro Alloys Pvt Ltd                CC                 CRISIL         45      Assigned
                                                           BB+/Stable
Sodhi Brothers Hydro Power Pvt Ltd      LT Loan            CRISIL         100     -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable)
Span Associates                         CC                 CRISIL         34      Reaffirmed
                                                           BB/Stable
Span Associates                         Overdraft          CRISIL         36      Reaffirmed
                                                           BB/Stable
Sri Bhagyalakshmi Commercial CorporationCC                 CRISIL         110     -
                                                           B+/Stable
(ISSUER NOT COOPERATING; Revised from CRISIL BB-/Stable ISSUER NOT COOPERATING)
Sri Varsha Food Products India Ltd      CC                 CRISIL         450     -
                                                           BB/Stable
(Migrated from CRISIL BB+/Stable ISSUER NOT COOPERATING)
Sri Varsha Food Products India Ltd      LT Loan            CRISIL         121.1   -
                                                           BB/Stable
(Migrated from CRISIL BB+/Stable ISSUER NOT COOPERATING)
Sri Varsha Food Products India Ltd      Proposed LT Bk     CRISIL         78.9    -
                                        Loan Fac           BB/Stable
(Migrated from CRISIL BB+/Stable ISSUER NOT COOPERATING)
Sunkon Energy Pvt Ltd                   LT Loan            CRISIL         427.2   Reaffirmed
                                                           BBB/Stable
(Migrated from CRISIL BBB/Stable; ISSUER NOT COOPERATING)
Sunkon Energy Pvt Ltd                   Proposed LT Bk     CRISIL         504.3   Reaffirmed
                                        Loan Fac           BBB/Stable
(Migrated from CRISIL BBB/Stable; ISSUER NOT COOPERATING)
TCI Express Ltd                         BG                 CRISIL         100     Reaffirmed
                                                           AA-/Stable
TCI Express Ltd                         CC                 CRISIL         600     Reaffirmed
                                                           AA-/Stable
TCI Express Ltd                         Proposed LT Bk     CRISIL         300     Reaffirmed
                                        Loan Fac           AA-/Stable
The Seal Coat Structural Works Pvt Ltd  CC                 CRISIL         48      Reaffirmed
                                                           B+/Stable
(Issuer Not Cooperating)
Thiru Rani Logistic Pvt Ltd             Proposed LT Bk     CRISIL         135     Reaffirmed
                                        Loan Fac           BB+/Stable
(Issuer Not Cooperating)
Tractel Tirfor India Pvt Ltd            CC                 CRISIL         70      Reaffirmed
                                                           B/Stable
(Issuer Not Cooperating)
Tractel Tirfor India Pvt Ltd            Proposed FB Bk     CRISIL         8       Reaffirmed
                                        Limits             B/Stable
(Issuer Not Cooperating)
Triveni Enterprises - Kota              Overdraft          CRISIL B+      30      Reaffirmed
(Issuer Not Cooperating)
Triveni Enterprises - Kota              Proposed LT Bk     CRISIL B+      20      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
TVS Credit Services Ltd                 Perpetual Bonds    CRISIL         1000    Reaffirmed
                                                           A+/Stable
TVS Credit Services Ltd                 CC                 CRISIL         8950    Reaffirmed
                                                           AA-/Stable
TVS Credit Services Ltd                 External           CRISIL         6348.4  Reaffirmed
                                        Commercial         AA-/Stable
                                        Borrowings
TVS Credit Services Ltd                 Proposed LT Bk     CRISIL         2122.5  Reaffirmed
                                        Loan Fac           AA-/Stable
TVS Credit Services Ltd                 TL#                CRISIL         28829.1 Reaffirmed
                                                           AA-/Stable
(#Includes sub debt loans of Rs 414.50 crore comprising HDFC Ltd:Rs 14.5 crore, HDFC Bank Ltd:
Rs 25 crore, Tata Capital: Rs 50 crore, Federal Bank, Rs 75 crore, Aditya Birla Finance: Rs 150
crore, Axis Bank : Rs 50 crore, DCB Bank: Rs 50 crore) 
TVS Credit Services Ltd                 WC Demand Loan     CRISIL         11500   Reaffirmed
                                                           AA-/Stable
TVS Credit Services Ltd                 NCD                CRISIL         2000    Reaffirmed
                                                           AA-/Stable
TVS Credit Services Ltd                 NCD                CRISIL         1000    Reaffirmed
                                                           AA-/Stable
TVS Credit Services Ltd                 Tier II Bond       CRISIL         1000    Reaffirmed
                                                           AA-/Stable
Ukay Luggage India Pvt Ltd              CC                 CRISIL         60      Reaffirmed
                                                           BB/Stable
(Migrated from CRISIL BB/Stable; ISSUER NOT COOPERATING)
Ukay Luggage India Pvt Ltd              Proposed TL        CRISIL         30      Reaffirmed
                                                           BB/Stable
(Migrated from CRISIL BB/Stable; ISSUER NOT COOPERATING)
Umachi Foods & Commodities Pvt Ltd      WC Fac             CRISIL BB-     90      Reaffirmed
(Issuer Not Cooperating)
Unify Texturisers Pvt Ltd               TL                 CRISIL         310     Reaffirmed
                                                           BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL  BB+/Positive)
Unify Texturisers Pvt Ltd               CC                 CRISIL         850     Reaffirmed
                                                           BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL  BB+/Positive)
Unify Texturisers Pvt Ltd               Proposed LT Bk     CRISIL         60      Reaffirmed
                                        Loan Fac           BB+/Stable
(ISSUER NOT COOPERATING; Migrated from CRISIL  BB+/Positive)
Vardhman Extrusions Pvt Ltd             CC                 CRISIL         105     Assigned
                                                           B+/Stable
Win-Win Automobiles Pvt Ltd             CC                 CRISIL B+      300     Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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