January 8, 2020 / 10:34 AM / 11 days ago

CRISIL ratings for Indian debt instruments-Jan 8

    Jan 8 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of January 7, 2020.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Anil Agrotech Pvt Ltd                   BG                 CRISIL A4      30      Reaffirmed
ANJ Turnkey Projects Pvt Ltd            BG                 CRISIL A2      1450    Reaffirmed
ANJ Turnkey Projects Pvt Ltd            LOC                CRISIL A2      50      Reaffirmed
Bayer Cropscience Ltd                   ST Debt            CRISIL A1+     2000    Withdrawn
BE Gold Pvt Ltd                         LOC                CRISIL A4+     450     Reaffirmed
Bharat Vanijya Eastern Pvt Ltd          BG                 CRISIL A3+     1262.5  Reaffirmed
Bharat Vanijya Eastern Pvt Ltd          Proposed BG        CRISIL A3+     105     Reaffirmed
Choudhary Garments                      LOC                CRISIL A4+     55.7    Assigned
Choudhary Garments                      Export Packing     CRISIL A4+     200     Assigned
                                        Credit
Choudhary Garments                      Foreign Bill       CRISIL A4+     250     Assigned
                                        Discounting
CIS Bureaus Facility Services Pvt Ltd   BG                 CRISIL A2      350     Reaffirmed
Crave Clothing Company Pvt Ltd          Overdraft          CRISIL A4+     10      Assigned
Crave Clothing Company Pvt Ltd          LOC                CRISIL A4+     10      Assigned
Creative Garments Pvt Ltd               BG                 CRISIL A2      20      Reaffirmed
Creative Garments Pvt Ltd               LOC                CRISIL A2      200     Reaffirmed
Creative Textile Mills Pvt Ltd          BG                 CRISIL A2      400     Reaffirmed
Creative Textile Mills Pvt Ltd          LOC                CRISIL A2      1200    Reaffirmed
Deutsche Investments India Pvt Ltd      CP Programme       CRISIL A1+     22000   Reaffirmed
Grand Marine Foods                      Foreign Bill       CRISIL A4+     67      Reaffirmed
                                        Negotiation
HGE International Pvt Ltd               Foreign Exchange   CRISIL A4+     4.8     Assigned
                                        Forward
HGE International Pvt Ltd               Inland/Import LOC  CRISIL A4+     5       Assigned
Ideas Electricals & Engineers Pvt Ltd   BG                 CRISIL A3      2200    Reaffirmed
Jaya Hind Montupet Pvt Ltd              Proposed NFBL      CRISIL A3+     150     -
Continues on Rating Watch with Positive implications
Loocust Incorp Apparel Export Pvt Ltd   Bill Discounting   CRISIL A4+     150     Reaffirmed
Loocust Incorp Apparel Export Pvt Ltd   Export Packing     CRISIL A4+     40      Reaffirmed
                                        Credit
Loocust Incorp Apparel Export Pvt Ltd   Post Shipment      CRISIL A4+     50      Reaffirmed
                                        Credit
Loocust Incorp Apparel Export Pvt Ltd   Pre Shipment CreditCRISIL A4+     760     Reaffirmed
M.Venkata Rao Infra Projects Pvt Ltd    BG                 CRISIL A2      32750   Reaffirmed
Mahatma Gandhi University of Medical    BG                 CRISIL A2      242     Assigned
Sciences and Technology
Man Made                                Post Shipment      CRISIL A4+     30      Reaffirmed
                                        Credit
Miku Polymers and Plastics Ltd          BG                 CRISIL A4+     30      Reaffirmed 
Narain Singh Bundela and Co.            BG                 CRISIL A4      257     Reaffirmed
Paragon Metal Industries - Moradabad    Foreign            CRISIL A4+     50      Reaffirmed
                                        Discounting Bill
                                        Purchase
Paragon Metal Industries - Moradabad    Packing Credit     CRISIL A4+     550     Reaffirmed
Piccolo Mosaic Ltd                      Inland/Import LOC  CRISIL A3      5       Assigned
Piccolo Mosaic Ltd                      BG                 CRISIL A3      15      Assigned
Proec Energy Ltd                        LOC & BG           CRISIL A2      20      Reaffirmed
Proec Energy Ltd                        Packing Credit     CRISIL A2      180     Reaffirmed
Proec Energy Ltd                        Proposed Packing   CRISIL A2      49.5    Reaffirmed
                                        Credit
R R Infrastructure                      BG                 CRISIL A4+     170     Reaffirmed
R R Infrastructure                      LOC                CRISIL A4+     100     Reaffirmed
Raj Shyama Constructions Pvt Ltd        BG                 CRISIL A3+     1575    Reaffirmed
Raj Shyama Constructions Pvt Ltd        LOC                CRISIL A3+     150     Reaffirmed
Raj Shyama Constructions Pvt Ltd        Overdraft          CRISIL A3+     50      Reaffirmed
Raj Shyama Constructions Pvt Ltd        Proposed NFBL      CRISIL A3+     1500    Reaffirmed
Renaissance Global Ltd                  Post Shipment      CRISIL A2      1536    Reaffirmed
                                        Credit
Renaissance Global Ltd                  Proposed ST Bk     CRISIL A2      80      Reaffirmed
                                        Loan Fac
Safa Enterprises                        LOC                CRISIL A4+     46      Reaffirmed
Safa Enterprises                        Packing Credit     CRISIL A4+     74      Reaffirmed
Saiyyed Akhtar Ali                      BG                 CRISIL A4+     46      Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
Sarda Energy and Minerals Ltd           LOC                CRISIL A1      2929    Reaffirmed
Sarda Energy and Minerals Ltd           ST Loan            CRISIL A1      200     Reaffirmed
Shrinath Rotopack Pvt Ltd               LOC & BG           CRISIL A2      153     Reaffirmed
United Techfab Pvt Ltd                  BG                 CRISIL A4+     10      Reaffirmed
Venkatesh Jewellers                     BG                 CRISIL A4+     110     Reaffirmed
Venkatesh Jewellers                     Bill Discounting   CRISIL A4+     40      Reaffirmed
Wave Industries Pvt Ltd                 BG                 CRISIL A4+     250     Reaffirmed
Removed from Rating Watch with Negative Implications
Wave Industries Pvt Ltd                 LOC                CRISIL A4+     250     Reaffirmed
Removed from Rating Watch with Negative Implications

LONG TERM RATINGS:
-------------------
Aakash Agrotech Pvt Ltd                 Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Accutime Logistics Pvt Ltd              Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Aditi Solar Pvt Ltd                     Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Advance Laminates Pvt Ltd               Rating advisory    -              -       -

CRISIL is yet to receive adequate information
Alishan Ginning Mills Pvt Ltd           Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Amba Shakti Ispat Ltd                   Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Angraj Civil Projects Pvt Ltd           Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Anil Agrotech Pvt Ltd                   CC                 CRISIL         17.5    Reaffirmed
                                                           B+/Stable
Anil Agrotech Pvt Ltd                   Proposed BG        CRISIL         50      Reaffirmed
                                                           B+/Stable
Anil Construction                       Rating advisory    -              -       -
CRISIL is yet to receive adequate information
ANJ Turnkey Projects Pvt Ltd            Bill Discounting   CRISIL         150     Reaffirmed
                                                           BBB+/Stable
ANJ Turnkey Projects Pvt Ltd            TL                 CRISIL         250     Reaffirmed
                                                           BBB+/Stable
Arafa Gold - Thiruvananthapuram         Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Ariyanayaki Agro Foods International    Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Arkay Leathers Pvt Ltd                  Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Aryan Tea Plantation Pvt Ltd            Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Avatar Solar Pvt Ltd                    Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Bayer Cropscience Ltd                   FB Fac*            CRISIL         1125.5  Reaffirmed
                                                           AA+/Stable
*Fully interchangeable with cash credit, overdraft, short-term loans, letter of credit, and bank
guarantee
Bayer Cropscience Ltd                   Proposed LT Bk     CRISIL         154.5   Reaffirmed
                                        Loan Fac           AA+/Stable
BE Gold Pvt Ltd                         Bill Pur-Dis Fac   CRISIL         150     Upgraded from
                                                           BB+/Stable             CRISIL
                                                                                  BB/Stable
Beena Iron Traders                      CC                 CRISIL         170     Migrated from
                                                           BB-/Stable             CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Bhagwat Chattels Pvt Ltd                Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Bharat Vanijya Eastern Pvt Ltd          CC                 CRISIL         97.5    Reaffirmed
                                                           BBB/Stable
Bharat Vanijya Eastern Pvt Ltd          Overdraft          CRISIL         5       Reaffirmed
                                                           BBB/Stable
Bhurji Super-tek Industries Ltd         Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Busthan Al Wathaniya                    Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Carson Overseas                         Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Choudhary Garments                      TL                 CRISIL         2.3     Assigned
                                                           BB+/Stable
Choudhary Garments                      Secured Overdraft  CRISIL         12      Assigned
                                        against term       BB+/Stable
                                        deposits
CIS Bureaus Facility Services Pvt Ltd   CC                 CRISIL         900     Reaffirmed
                                                           BBB+/Positive
CIS Bureaus Facility Services Pvt Ltd   Proposed BG        CRISIL         100     Reaffirmed
                                                           BBB+/Positive
Cochin Steel Industrial Complex         Rating advisory    -              -       -
(Construction)
CRISIL is yet to receive adequate information
Crave Clothing Company Pvt Ltd          LT Loan            CRISIL         50      Assigned
                                                           BB+/Stable
Crave Clothing Company Pvt Ltd          CC                 CRISIL         300     Assigned
                                                           BB+/Stable
Creative Garments Pvt Ltd               CC                 CRISIL         100     Reaffirmed
                                                           BBB+/Stable
Creative Garments Pvt Ltd               Export Packing     CRISIL         1560    Reaffirmed
                                        Credit             BBB+/Stable
Creative Garments Pvt Ltd               Proposed LT Bk     CRISIL         187.4   Reaffirmed
                                        Loan Fac           BBB+/Stable
Creative Garments Pvt Ltd               TL                 CRISIL         12.6    Reaffirmed
                                                           BBB+/Stable
Creative Textile Mills Pvt Ltd          CC                 CRISIL         2300    Reaffirmed
                                                           BBB+/Stable
Creative Textile Mills Pvt Ltd          Export Packing     CRISIL         27350   Reaffirmed
                                        Credit             BBB+/Stable
Creative Textile Mills Pvt Ltd          Proposed LT Bk     CRISIL         2573    Reaffirmed
                                        Loan Fac           BBB+/Stable
Creative Textile Mills Pvt Ltd          TL                 CRISIL         7427    Reaffirmed
                                                           BBB+/Stable
D`Decor Properties LLP                  Proposed LT Bk     CRISIL         3300    Reaffirmed
                                        Loan Fac           BB/Stable
D`Decor Properties LLP                  TL                 CRISIL         9850    Reaffirmed
                                                           BB/Stable
Dakshin Exports                         Rating advisory    -              -       -
CRISIL is yet to receive adequate information
D'Decor Realty LLP                      Proposed LT Bk     CRISIL         6400    Upgraded from
                                        Loan Fac           BB+/Stable             CRISIL
                                                                                  BB/Stable
D'Decor Realty LLP                      TL                 CRISIL         2100    Upgraded from
                                                           BB+/Stable             CRISIL
                                                                                  BB/Stable
Deron Properties Pvt Ltd                Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Durga Agronomy Pvt Ltd                  Rating advisory    -              -       -
CRISIL is yet to receive adequate information
E - Way Gallery                         Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Elegant Forge and Equipments Pvt Ltd    Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Elmech Power & Air Conditioning         Rating advisory    -              -       -
Engineers Pvt Ltd
CRISIL is yet to receive adequate information
Emco Exports                            Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Fortum Solar India Pvt Ltd              Proposed LT Bk     CRISIL         9200    Assigned
                                        Loan Fac           A+/Stable
G V Knits Pvt Ltd                       Rating advisory    -              -       -
CRISIL is yet to receive adequate information
G.S.R. & T.S.R. Educational Society     Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Ganesh Fabrication Works                Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Ganga Dairy                             Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Global Tech India Pvt Ltd               Rating advisory    -              -       -
CRISIL is yet to receive adequate information
GMS Elegant Builders India Pvt Ltd      Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Godavari Khore Namdeoraoji Parjane      Rating advisory    -              -       -
Patil Taluka Sahakari Dudh Utpadak
Sangh Ltd
CRISIL is yet to receive adequate information
Golden Shelters Pvt Ltd                 Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Goyal Agro Industries - Raipur          Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Grand Marine Foods                      Export Packing     CRISIL         160     Reaffirmed
                                        Credit             BB/Stable
Grand Polycoats Company Pvt Ltd         Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Green Channel Traders                   Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Green Valley Agro Products Pvt Ltd      Rating advisory    -              -       -
CRISIL is yet to receive adequate information
HGE International Pvt Ltd               Export Packing     CRISIL         33      Assigned
                                        Credit             BB-/Stable
HGE International Pvt Ltd               Foreign Bill       CRISIL         10      Assigned
                                        Purchase           BB-/Stable
HGE International Pvt Ltd               Proposed FB Bk     CRISIL         40.3    Assigned
                                        Limits             BB-/Stable
HGE International Pvt Ltd               Standby Line of    CRISIL         4.5     Assigned
                                        Credit             BB-/Stable
HGE International Pvt Ltd               TL                 CRISIL         2.4     Assigned
                                                           BB-/Stable
High Range Coffee Curring Pvt Ltd       Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Hotel Dee Emm Residency                 Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Ideas Electricals & Engineers Pvt Ltd   CC                 CRISIL         500     Reaffirmed
                                                           BBB-/Negative
Outlook revised from 'Stable'
Ideas Electricals & Engineers Pvt Ltd   Proposed LT Bk     CRISIL         700     Reaffirmed
                                        Loan Fac           BBB-/Negative
Outlook revised from 'Stable'
Inframat Alloys Pvt Ltd                 Rating advisory    -              -       -
CRISIL is yet to receive adequate information
J. S. Auto Pvt Ltd                      Rating advisory    -              -       -
CRISIL is yet to receive adequate information
J.K. Industries                         Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Jaatvedas Construction Company Pvt Ltd  Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Jai Hanuman Cotton Ginning Mills Pvt LtdRating advisory    -              -       -
CRISIL is yet to receive adequate information
Janatha Motors                          Rating advisory    -              -       -
CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review
Jaya Hind Montupet Pvt Ltd              Proposed CC Limit  CRISIL BBB     150     -
Continues on Rating Watch with Positive implications
JSK Infracomplex Pvt Ltd                Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Juniper Constructions Pvt Ltd           Rating advisory    -              -       -
CRISIL is yet to receive adequate information
K.R.R. Engineering Pvt Ltd              Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Karikkineth                             Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Kewal Kiran Clothing Ltd                Proposed LT Bk     CRISIL         200     -
                                        Loan Fac           AA-/Stable
Kewal Kiran Clothing Ltd                WC Demand Loan@@   CRISIL         450     -
                                                           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 cro
Kewal Kiran Clothing Ltd                WC Demand Loan#    CRISIL         250     -
                                                           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
Kewal Kiran Clothing Ltd                WC Demand Loan*    CRISIL         500     -
                                                           AA-/Stable
*Interchangeable with Rs. 5 crore cash credit facility, Rs. 10 crore letter of credit and Rs. 10
crore of PCFC/PSFC (Pre and Post Shipment) credit.
KGN Comtrade Pvt Ltd                    Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Krishna Sahil Constructions Pvt Ltd     Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Kundan Cars Pvt Ltd                     Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Kunnathan Wood Products                 Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Laheri Cotton Industries                Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Lahoti Motors Pvt Ltd                   Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Loocust Incorp Apparel Export Pvt Ltd   TL                 CRISIL         60      Reaffirmed
                                                           BB-/Stable
Loocust Incorp Apparel Export Pvt Ltd   Proposed LT Bk     CRISIL         440     Reaffirmed
                                        Loan Fac           BB-/Stable
Lord Krishna Rice Mills - Gangoh        Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Lotus Logistics And Developers Pvt Ltd  Rating advisory    -              -       -
CRISIL is yet to receive adequate information
M. E. Energy Pvt Ltd                    Rating advisory    -              -       -
CRISIL is yet to receive adequate information
M.Venkata Rao Infra Projects Pvt Ltd    CC                 CRISIL         7750    Reaffirmed
                                                           BBB+/Positive
Maajagdambe Paper Mills Pvt Ltd         Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Magnus Power Pvt Ltd                    Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Maha Hydraulics Pvt Ltd                 Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Mahatma Gandhi University of Medical    Overdraft          CRISIL         359.7   Assigned
Sciences and Technology                                    BBB+/Stable
Mahatma Gandhi University of Medical    LT Loan            CRISIL         3978.3  Assigned
Sciences and Technology                                    BBB+/Stable
Mahesh Cotspin Pvt Ltd                  Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Mamta Agro Industries                   Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Man Made                                Credit Limit Under CRISIL         5       Assigned
                                        Gold Card          BB/Stable
Man Made                                Packing Credit     CRISIL         50      Assigned
                                        (pre-shipment      BB/Stable
                                        credit)
Mayor and Company                       Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Miku Polymers and Plastics Ltd          CC                 CRISIL         170     Reaffirmed
                                                           BB/Stable
MLJ Impex Ltd                           Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Model Dairy Pvt Ltd                     Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Moonhouse Projects Ltd                  Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Motil Devi Organic Food Industries Pvt  Rating advisory    -              -       -
Ltd
CRISIL is yet to receive adequate information
Musaddilal Projects Pvt Ltd             Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Musaddilal Properties Pvt Ltd           Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Nafref Engineers Pvt Ltd                Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Namaste India Aviation Pvt Ltd          BG                 CRISIL         50      Withdrawn
                                                           BB/Stable
Namaste India Aviation Pvt Ltd          Proposed LT Bk     CRISIL         50      Withdrawn
                                        Loan Fac           BB/Stable
Narain Singh Bundela and Co.            CC                 CRISIL         375     Downgraded
                                                           B-/Stable              from 'CRISIL
                                                                                  B/Stable
Navin Construction Corporation          Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Niketan Solar Solutions                 Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Nimma Narayan Engineers And Contractors Rating advisory    -              -       -
CRISIL is yet to receive adequate information
North East Agro Product                 Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Novus Green Energy Systems Ltd          Rating advisory    -              -       -
CRISIL is yet to receive adequate information
P.K. Construction Shimla Pvt Ltd        Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Pepe Jeans India Ltd                    Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Piccolo Mosaic Ltd                      TL                 CRISIL         99.1    Assigned
                                                           BBB-/Stable
Piccolo Mosaic Ltd                      CC                 CRISIL         70      Assigned
                                                           BBB-/Stable
Polybond Insulation Pvt Ltd             Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Premier Exports International           Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Proec Energy Ltd                        Buyer`s Credit     CRISIL         30      Reaffirmed
                                                           BBB+/Stable
Quest Infosys Foundation                Rating advisory    -              -       -
CRISIL is yet to receive adequate information
R R Industries - Hyderabad              Rating advisory    -              -       -
CRISIL is yet to receive adequate information
R R Infrastructure                      CC                 CRISIL         60      Downgraded
                                                           BB-/Stable             from CRISIL
                                                                                  BB/Stable
Radhe Sham Ravi Prakash Timbers Pvt Ltd Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Raj Shyama Constructions Pvt Ltd        CC                 CRISIL         110     Reaffirmed
                                                           BBB/Stable
Raj Shyama Constructions Pvt Ltd        Drop Line          CRISIL         168.4   Reaffirmed
                                        Overdraft Fac      BBB/Stable
Raj Shyama Constructions Pvt Ltd        Proposed LT Bk     CRISIL         46.6    Reaffirmed
                                        Loan Fac           BBB/Stable
Raj Shyama Constructions Pvt Ltd        Secured Overdraft  CRISIL         300     Reaffirmed
                                        against term       BBB/Stable
                                        deposits
Rajesh Estates And Nirman Pvt Ltd       NCD                CRISIL D       2976    Downgraded
                                                                                  from CRISIL
                                                                                  B+/Stable
(Issuer Not Cooperating)
Ram Engineers and Contractors           Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Recktronic Devices and Systems          Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Renaissance Global Ltd                  Export Packing     CRISIL         557.5   Reaffirmed
                                        Credit             BBB+/Stable
Renaissance Global Ltd                  Standby Line of    CRISIL         330     Reaffirmed
                                        Credit             BBB+/Stable
Riga Ceramica Pvt Ltd                   Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Rivoltech Auto Engineering Pvt Ltd      CC                 CRISIL         60      Downgraded
                                                           BB-/Stable             from CRISIL
                                                                                  BB/Stable
Rivoltech Auto Engineering Pvt Ltd      TL                 CRISIL         149.5   Downgraded
                                                           BB-/Stable             from CRISIL
                                                                                  BB/Stable
Rollwell Conveyor Components Pvt Ltd    Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Royal Exports - Surat                   Rating advisory    -              -       -
CRISIL is yet to receive adequate information
S S Hyundai                             Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sagar Auto Parts Pvt Ltd                Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Saha Steel Pvt Ltd                      Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sai Sudha Motors Pvt Ltd                Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Saiyyed Akhtar Ali                      CC                 CRISIL         75      Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  B+/Stable
(Issuer Not Cooperating)
Saiyyed Akhtar Ali                      LT Loan            CRISIL         4.1     Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  B+/Stable
(Issuer Not Cooperating)
Saiyyed Akhtar Ali                      Proposed LT Bk     CRISIL         24.9    Migrated from
                                        Loan Fac           BB+/Stable             CRISIL
                                                                                  B+/Stable
(Issuer Not Cooperating)
Samruddhi Realty Ltd                    NCD                CRISIL D       750     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Sarda Energy and Minerals Ltd           BG                 CRISIL         385     Reaffirmed
                                                           A+/Stable
Sarda Energy and Minerals Ltd           CC                 CRISIL         1876.7  Reaffirmed
                                                           A+/Stable
Sarda Energy and Minerals Ltd           Proposed LT Bk     CRISIL         799.3   Reaffirmed
                                        Loan Fac           A+/Stable
Sarda Energy and Minerals Ltd           TL                 CRISIL         2574    Reaffirmed
                                                           A+/Stable
Sarju Vitrified Pvt Ltd                 Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sarlal Engineering Ltd                  Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Satya Surya Towers Pvt Ltd              Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sethia Real Estate                      Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Shanti Structure Pvt Ltd                Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sheetal Agrofood Park Pvt Ltd           Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Shree Bhagwati Industries - Baddi       Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Shree Dayal Milling Industries          Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Shree Jagdamba Cotton Ginning and       Rating advisory    -              -       -
Pressing Factory
CRISIL is yet to receive adequate information
Shree Ram Rayon                         Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Shree Somnath Paper Mills Pvt Ltd       Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Shree Vijayashree Food Processing       Rating advisory    -              -       -
Industries
CRISIL is yet to receive adequate information
Shri Jaipal Singh Sharma Trust          Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Shrinath Rotopack Pvt Ltd               CC                 CRISIL         1370    Reaffirmed
                                                           BBB+/Stable
Shrinath Rotopack Pvt Ltd               Proposed LT Bk     CRISIL         165.5   Reaffirmed
                                        Loan Fac           BBB+/Stable
Shrinath Rotopack Pvt Ltd               TL                 CRISIL         516.5   Reaffirmed
                                                           BBB+/Stable
Shriprop Dwellers Pvt Ltd               NCD                CRISIL D       217     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Shriprop Dwellers Pvt Ltd               NCD                CRISIL D       500     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Shriram Automotive Products Ltd         Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Shyam Godavari Steels Pvt Ltd           Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Signature Foam Pvt Ltd                  Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sindu Enterprises                       CC                 CRISIL         14      Withdrawn
                                                           BB-/Stable
Sindu Enterprises                       LT Loan            CRISIL         40      Withdrawn
                                                           BB-/Stable
Sindu Enterprises                       Proposed LT Bk     CRISIL         36      Withdrawn
                                        Loan Fac           BB-/Stable
Sirium Ceramic Pvt Ltd                  Rating advisory    -              -       -
CRISIL is yet to receive adequate information
SledgeHammer Oil Tools Pvt Ltd          Export Packing     CRISIL         350     Reaffirmed
                                        Credit             BBB/Stable
Sonac                                   Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sri Bhagyalakshmi Cotton Industries     Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sri Dhanalakshmi Traders                Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sri Murugan Timbers                     Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sri Navdurga Textile Processors Pvt Ltd Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sri Sai Vishwas Industries Pvt Ltd      Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sri Venkata Srinivasa Oils Pvt Ltd      Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Srijan Realty Pvt Ltd                   Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Srinav Oil Extraction Pvt Ltd           Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sterling India                          Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sudheer S                               Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Sujanil Chemo Industries                Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Suresh Oilfield Units and Maintenance   Rating advisory    -              -       -
Company
CRISIL is yet to receive adequate information
Swastik Cotex                           Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Swastika Steel and Allied Products Pvt  Rating advisory    -              -       -
Ltd
CRISIL is yet to receive adequate information
Talakshi Lalji and Co.                  Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Tejwant Rai Govt. Contractor            Rating advisory    -              -       -
CRISIL is yet to receive adequate information
The Seal Coat Structural Works Pvt Ltd  Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Thiru Rani Logistic Pvt Ltd             Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Tiruchendur Murugan Hi-Tech Mill        Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Tirupati Polymers                       Rating advisory    -              -       -
CRISIL is yet to receive adequate information
TNR Industries Pvt Ltd                  Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Tractel Tirfor India Pvt Ltd            Rating advisory    -              -       -
CRISIL is yet to receive adequate information
U V Creations                           Rating advisory    -              -       -
CRISIL is yet to receive adequate information
U.S. Impex                              Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Union Steels                            Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Unique Forgings India Pvt Ltd           Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Unique Punch Systems Pvt Ltd            Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Unistil Alcoblends Pvt Ltd              Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Uni-Tech Automation Pvt Ltd             CC                 CRISIL         1250    Reaffirmed
                                                           BB+/Stable
Uni-Tech Automation Pvt Ltd             Proposed LT Bk     CRISIL         200     Reaffirmed
                                        Loan Fac           BB+/Stable
Uni-Tech Automation Pvt Ltd             Proposed TL        CRISIL         540     Reaffirmed
                                                           BB+/Stable
Uni-Tech Automation Pvt Ltd             TL                 CRISIL         550     Reaffirmed
                                                           BB+/Stable
Uni-Tech Automation Pvt Ltd             Proposed WC Fac    CRISIL         560     Reaffirmed
                                                           BB+/Stable
United Techfab Pvt Ltd                  CC                 CRISIL         20      Reaffirmed
                                                           BB-/Stable
United Techfab Pvt Ltd                  Proposed LT Bk     CRISIL         20      Reaffirmed
                                        Loan Fac           BB-/Stable
United Techfab Pvt Ltd                  TL                 CRISIL         233.5   Reaffirmed
                                                           BB-/Stable
Uppal-Chadha Hi-Tech Developers Pvt Ltd Corporate Loan     CRISIL         15000   Reaffirmed
                                                           BBB-/Stable
Uppal-Chadha Hi-Tech Developers Pvt Ltd Drop Line          CRISIL         4500    Reaffirmed
                                        Overdraft Fac      BBB-/Stable
Uppal-Chadha Hi-Tech Developers Pvt Ltd Proposed LT Bk     CRISIL         14500   Reaffirmed
                                        Loan Fac           BBB-/Stable
Uppal-Chadha Hi-Tech Developers Pvt Ltd TL                 CRISIL         36000   Reaffirmed
                                                           BBB-/Stable
Vadivel Cocotech Pvt Ltd                Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Vamsadhara Ginning and Pressing         Rating advisory    -              -       -
Industries
CRISIL is yet to receive adequate information
Venkatesh Industries                    Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Vgn Property Developers Pvt Ltd         NCD                CRISIL D       4000    Reaffirmed
Viari Exports Pvt Ltd                   Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Vijetha Super Market                    Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Warade PackTech Pvt Ltd                 Rating advisory    -              -       -
CRISIL is yet to receive adequate information
Wave Industries Pvt Ltd                 CC                 CRISIL         2750    Reaffirmed
                                                           BB/Negative
Removed from Rating Watch with Negative Implications
Wave Industries Pvt Ltd                 Proposed CC Limit  CRISIL         250     Reaffirmed
                                                           BB/Negative
Removed from Rating Watch with Negative Implications
Wave Industries Pvt Ltd                 Proposed TL        CRISIL         1200    Reaffirmed
                                                           BB/Negative
Removed from Rating Watch with Negative Implications
Wave Industries Pvt Ltd                 TL                 CRISIL         300     Reaffirmed
                                                           BB/Negative
Removed from Rating Watch with Negative Implications
Wave One Pvt Ltd                        Rupee TL           CRISIL         2750    Downgraded
                                                           BB/Stable              from CRISIL
                                                                                  BB+
Removed from Rating Watch with Negative Implication
Zen Turnkey Solutions Pvt Ltd           Rating advisory    -              -       -
CRISIL is yet to receive adequate information
--------------------------------------------------------------------------------------------
$: 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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