July 13, 2020 / 8:31 AM / 23 days ago

CRISIL ratings for Indian debt instruments-Jul 13

    Jul 13  - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of July 10, 2020.


COMPANY                                INSTRUMENT        RATING       AMOUNT  MOVEMENT
                                                                     (RS.MLN)
------                                 ----------        ------       -----   ---------
SHORT TERM RATINGS:
-------------------
Austin Engineering Co. Ltd             BG                CRISIL A4+    25     Reaffirmed
Deepsun Industrial Corporation         BG                CRISIL A4+    57     Reaffirmed
Kamala Cold Storage Pvt Ltd            BG                CRISIL A4     1.6    Reaffirmed
(Migrated from 'CRISIL A4 ISSUER NOT COOPERATING)
KKR India Asset Finance Ltd            CP                CRISIL A1+    5000   Reaffirmed
Motherson Molds and Diecasting Ltd     BG                CRISIL A1+    70     Reaffirmed
Motherson Molds and Diecasting Ltd     Foreign Exchange  CRISIL A1+    2.5    Reaffirmed
                                       Forward
Motherson Molds and Diecasting Ltd     LOC               CRISIL A1+    20     Reaffirmed
Santosh Starch Products Ltd            Proposed ST Bk    CRISIL A4+    2      Reaffirmed
                                       Loan Fac
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING)
Shah Paperplast Industries Ltd         Inland/Import LOC CRISIL A4+    15     Reaffirmed
(Revised from 'CRISIL A4+' to 'CRISIL D' and Simultaneously Upgraded to 'CRISIL A4+)
Shah Paperplast Industries Ltd         Packing Credit in CRISIL A4+    40     Reaffirmed
                                       Foreign Currency
(Revised from 'CRISIL A4+' to 'CRISIL D' and Simultaneously Upgraded to 'CRISIL A4+)
Shairu Gems Diamonds Pvt Ltd           Foreign Exchange  CRISIL A2     120    Reaffirmed
                                       Forward
Shairu Gems Diamonds Pvt Ltd           Post Shipment     CRISIL A2     1262.5 Reaffirmed
                                       Credit
Shriram City Union Finance Ltd         CP                CRISIL A1+    30000  Reaffirmed
Subasri Textile                        Packing Credit    CRISIL A4+    50     -
Sula Vineyards Pvt Ltd                 Proposed ST Bk    CRISIL A1     55.5   -
                                       Loan Fac
Sula Vineyards Pvt Ltd                 WC Demand Loan!   CRISIL A1     600    Reaffirmed
(!SBLC for Trade credit Rs 15 crore as a sub-limit , Bank guarantee limit of Rs 15 crore as a
sub-limit ,EPC/ PCFC EBRD/PSFC Rs 25 crore as a sub-limit, LER on forward contracts Rs 50 crore
as a sub-limit.) 
Sula Vineyards Pvt Ltd                 WC Demand Loan&   CRISIL A1     8      Reaffirmed
(&LC/ Bank guarantee limit of Rs 0.8 crore as a sub-limit)
Sula Vineyards Pvt Ltd                 WC Demand Loan@   CRISIL A1     550    Reaffirmed
(@LC/ Bank guarantee limit of Rs 1 crore as a sub-limit)
Sula Vineyards Pvt Ltd                 WC Demand Loan^   CRISIL A1     400    Reaffirmed
(^Fungible with LC/BG up to Rs 3 crore as a sub-limit , SBLC  for Trade credit Rs 3 crore as a
sub-limit, EPC/ PCFC EBRD/PSFC Rs 15 crore as a sub-limit)
Sula Vineyards Pvt Ltd                 WC Demand Loan*   CRISIL A1     452    Reaffirmed
(*Bank guarantee limit of Rs 10 crore as a sub-limit, LC Rs 0.2 crore as a sub-limit, EPC/ PCFC
EBRD/PSFC Rs 15 crore as a sub-limit)
Sula Vineyards Pvt Ltd                 WC Demand Loan%   CRISIL A1     300    Reaffirmed
(%Interchangeable with FCNR Loan to the extent of Rs. 30 crore, Packing credit/Post Shipment to
the extent of Rs. 6 crore as a sub-limit, Bank Guarantee to the extent of Rs. 6.5 crore as a
sub-limit, Letter of Credit to the extent of Rs. 30 crore as a sub-limit, Buyer's Credit to the
extent of Rs. 6.5 crore as a sub-limit) 
Sula Vineyards Pvt Ltd                 WC Demand Loan#   CRISIL A1     210    Assigned
(#SBLC for Trade credit Rs20 crore as a sub-limit, Interchangeable Letter of credit and Bank
Guarantee to the extent of Rs 20 crore as a sub-limit, EPC/ PCFC EBRD/PSFC Rs 15 crore as a
sub-limit.) 
Thermax Ltd                            Non-FBL           CRISIL A1+    27400  Reaffirmed
Thermax Ltd                            Proposed ST Bk    CRISIL A1+    2100   Assigned
                                       Loan Fac
UPL Ltd                                LOC & BG          CRISIL A1+    6500   Reaffirmed
UPL Ltd                                CP                CRISIL A1+    13500  Reaffirmed


LONG TERM RATINGS:
-------------------
Abharan Motors Pvt Ltd                 Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
ADD Pens Pvt Ltd                       Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Adihm Developers Pvt Ltd               Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Aditya Aggregates                      Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Aditya Agri Machineries                Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Allied Electro Mechanicals Pvt Ltd     Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Alpine Expo Tex Pvt Ltd                Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
American Feed                          Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
American Feed Unit-II                  Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Anjaninandan Premier Packaging Pvt Ltd Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Austin Engineering Co. Ltd             CC                CRISIL        139    Reaffirmed
                                                         BB/Stable
Austin Engineering Co. Ltd            Credit Limit Under CRISIL        16     Reaffirmed
                                       Gold Card         BB/Stable
Austin Engineering Co. Ltd             Proposed LT Bk    CRISIL        40     Reaffirmed
                                       Loan Fac          BB/Stable
Bhaskar Resources Pvt Ltd              Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Bioworld Merchandising India Pvt Ltd   Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
BLA Udyog Pvt Ltd                      Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Daman Polythread Ltd                   Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Deepsun Industrial Corporation         CC                CRISIL        35     Reaffirmed
                                                         BB-/Stable
Deepsun Industrial Corporation         Proposed FB Bk    CRISIL        18     Assigned
                                       Limits            BB-/Stable
Dyna-K Automotive Stampings Pvt Ltd    Rating Advisory   -             -      -

(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Easternzone Industries Pvt Ltd         Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Elektronik Lab India Pvt Ltd           Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Ess Kay Fincorp Ltd                  Proposed LT Bk    CRISIL A/Stable 2700   Reaffirmed
                                     Loan Fac
Ess Kay Fincorp Ltd                  TL                CRISIL A/Stable 3200   Reaffirmed
Ess Kay Fincorp Ltd                  WC Demand Loan    CRISIL A/Stable 100    Assigned
Ess Kay Fincorp Ltd                  NCD               CRISIL A/Stable 500    -
Ess Kay Fincorp Ltd                  NCD               CRISIL A/Stable 850    -
Ess Kay Fincorp Ltd                  NCD               CRISIL A/Stable 860    -
Ess Kay Fincorp Ltd                  NCD               CRISIL A/Stable 1000   -
Ess Kay Fincorp Ltd                  NCD               CRISIL A/Stable 1000   -
Ess Kay Fincorp Ltd                  NCD               CRISIL A/Stable 1500   -
Ess Kay Fincorp Ltd                  NCD               CRISIL A/Stable 3000   -
Ess Kay Fincorp Ltd                    NCD               CRISIL        1000   -
                                                         A/Stable
Ess Kay Fincorp Ltd                    LT Principal      CRISIL PP-MLD 320    -
                                       Protected Market  Ar/Stable
                                       Linked Debentures
Ess Kay Fincorp Ltd                    LT Principal      CRISIL PP-MLD 500    -
                                       Protected Market  Ar/Stable
                                       Linked Debentures
Euroasia Trans Continental             Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Explicit Leathers                      Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Exquisite Enterprises Pvt Ltd          Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Ferro Steel Solutions                  Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Garg Agrifoods Pvt Ltd                 Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Ghankun Steels Pvt Ltd                 Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Golf Ceramics Ltd                      BG                CRISIL        60     Reaffirmed
                                                         BBB-/Stable
(Rating Reaffirmed and Withdrawn)
Golf Ceramics Ltd                      CC                CRISIL        100    Reaffirmed
                                                         BBB-/Stable
(Rating Reaffirmed and Withdrawn)
Golf Ceramics Ltd                      Proposed LT Bk    CRISIL        20     Reaffirmed
                                       Loan Fac          BBB-/Stable
(Rating Reaffirmed and Withdrawn)
Hi-Tech Pipes Ltd                      Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Hi-Tech Satluj Motors Pvt Ltd          Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Hyquip Systems Ltd                     Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Immanuel and Co.                       Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Jai Hind Public School                 Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Jhansi Concrete Products - Jhansi      Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Kamala Cold Storage Pvt Ltd            CC                CRISIL        63     Reaffirmed
                                                         B+/Stable
(Migrated from 'CRISIL B+/Stable ISSUER NOT COOPERATING)
Kamala Cold Storage Pvt Ltd            WC Fac            CRISIL        15     Reaffirmed
                                                         B+/Stable
(Migrated from 'CRISIL B+/Stable ISSUER NOT COOPERATING)
KKR India Asset Finance Ltd            Proposed LT Bk    CRISIL        7950   Reaffirmed
                                       Loan Fac          AA/Stable
KKR India Asset Finance Ltd            TL                CRISIL        27550  Reaffirmed
                                                         AA/Stable
KKR India Asset Finance Ltd            NCD               CRISIL        10000  Reaffirmed
                                                         AA/Stable
Kolhapur Municipal Corporation         Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Lancosa Ceramic LLP                    Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Loknete Baburao Patil Agro Industries  Rating Advisory   -             -      -
Ltd
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Magic Mirror - Mumbai                  Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Mahavishnu Cashew Factory              Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
MGM Minerals Ltd                       Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Milestone Corporation - Ghaziabad      Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Motherson Auto Ltd                     LT Loan           CRISIL        2990   Reaffirmed
                                                         AA/Stable
Motherson Auto Ltd                     Overdraft         CRISIL        100    Reaffirmed
                                                         AA/Stable
Motherson Auto Ltd                     Proposed LT Bk    CRISIL        10     Reaffirmed
                                       Loan Fac          AA/Stable
Motherson Lease Solution Ltd           TL                CRISIL        1250   Reaffirmed
                                                         AA/Stable
Motherson Molds and Diecasting Ltd     CC                CRISIL AA-    60     Reaffirmed
(Placed on 'Rating Watch with Positive Implications')
Motherson Molds and Diecasting Ltd     TL                CRISIL AA-    116    Reaffirmed
(Placed on 'Rating Watch with Positive Implications')
Navalakha Translines                   Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Nidhie Weaving Mill                    CC                CRISIL        80     Assigned
                                                         B+/Stable
Nidhie Weaving Mill                    LT Loan           CRISIL        40     Assigned
                                                         B+/Stable
Nutan Ispat and Power Pvt Ltd          Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Nutech Polymers Pvt Ltd                Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Orissa Stevedores Ltd                  Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Pandit Ambika Pratap Narayan Higher    Rating Advisory   -             -      -
Educational Shiksha Samiti
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Periyar Polymers Pvt Ltd               Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Piyush Infratech Pvt Ltd               Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Pooja Enterprises - Narela             CC                CRISIL        100    Reaffirmed
                                                         BB-/Stable
Pooja Enterprises - Narela             Proposed CC Limit CRISIL        100    Assigned
                                                         BB-/Stable
Precise Engineering Company            Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
R. G. International Pvt Ltd            Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
R. Velumani                            Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Race Polymer Arts LLP                  CC                CRISIL        20     Withdrawn
                                                         BBB-/Stable
(Rating Reaffirmed and Withdrawn)
Race Polymer Arts LLP                  TL                CRISIL        96     Withdrawn
                                                         BBB-/Stable
(Rating Reaffirmed and Withdrawn)
Raffles Green Pet India Pvt Ltd        BG                CRISIL D      9.5    -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B-/Stable)
Raffles Green Pet India Pvt Ltd        CC                CRISIL D      40     -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B-/Stable)
Raffles Green Pet India Pvt Ltd        Proposed LT Bk    CRISIL D      1      -
                                       Loan Fac
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B-/Stable)
Raffles Green Pet India Pvt Ltd        TL                CRISIL D      49.5   -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B-/Stable)
Rajendra Chemicals - Sahibabad         Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Rajni Exports & Imports                Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Real Agrotech Industries               CC                CRISIL D      40     -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B/Stable)
Real Agrotech Industries               LT Loan           CRISIL D      13.3   -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B/Stable)
Reliance Industries Ltd                First Business    CRISIL AAA    -      Reaffirmed
                                       Receivables Trust
                                       -PTCs
Reliance Industries Ltd                First Business    Provisional   -      Withdrawn
                                       Receivables Trust CRISIL AAA
                                       -PTCs
(@A prefix of 'Provisional' indicates that the rating centrally factors in the strength of
specific structures, and will be supported by certain critical
Remy Diamonds Pvt Ltd                  Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Rittal India Pvt Ltd                   Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Rudra Enterprises - Asansol            Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Sachdeva Home Furnishing Pvt Ltd       Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Sai Projects and Systems Pvt Ltd       BG                CRISIL D      35     -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B+/Stable)
Sai Projects and Systems Pvt Ltd       LOC               CRISIL D      6      -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B+/Stable)
Sai Projects and Systems Pvt Ltd       Overdraft         CRISIL D      10     -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B+/Stable)
Sai Projects and Systems Pvt Ltd      Proposed Overdraft CRISIL D      10     -
                                       Fac
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B+/Stable)
Sai Projects and Systems Pvt Ltd       Overdraft         CRISIL D      30     -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B+/Stable)
Samvardhana Motherson Auto Component   CC                CRISIL A+     50     Reaffirmed
Pvt Ltd
(Placed on 'Rating Watch with Positive Implications')
Samvardhana Motherson Auto Component   TL                CRISIL A+     350    Reaffirmed
Pvt Ltd
(Placed on 'Rating Watch with Positive Implications')
Santosh Starch Products Ltd            CC                CRISIL        180    Reaffirmed
                                                         BB+/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING)
Santosh Starch Products Ltd            Rupee TL          CRISIL        11.5   Reaffirmed
                                                         BB+/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING)
Sarama Steel Furniture                 Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Satya Sai Agro Industries              Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
SCV SKY Vision                         CC                CRISIL D      10     -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B+/Stable)
SCV SKY Vision                         LT Loan           CRISIL D      50     -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B+/Stable)
SDB Infrastructure Pvt Ltd             Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Shah Paperplast Industries Ltd         CC                CRISIL        20     Reaffirmed
                                                         BB-/Stable
(Revised from 'CRISIL BB-/Stable' to 'CRISIL D' and Simultaneously Upgraded to 'CRISIL
BB-/Stable')
Shah Paperplast Industries Ltd         Proposed LT Bk    CRISIL        15.9   Reaffirmed
                                       Loan Fac          BB-/Stable
(Revised from 'CRISIL BB-/Stable' to 'CRISIL D' and Simultaneously Upgraded to 'CRISIL
BB-/Stable')
Shah Paperplast Industries Ltd         TL                CRISIL        26.7   Reaffirmed
                                                         BB-/Stable
(Revised from 'CRISIL BB-/Stable' to 'CRISIL D' and Simultaneously Upgraded to 'CRISIL
BB-/Stable')
Shairu Gems Diamonds Pvt Ltd           Export Packing    -             45     Withdrawn
                                       Credit
Shairu Gems Diamonds Pvt Ltd           Proposed Export   -             93     Withdrawn
                                       Packing Credit
Shairu Gems Diamonds Pvt Ltd           Export Packing    CRISIL        1262.5 Reaffirmed
                                       Credit            BBB+/Negative
Shairu Gems Diamonds Pvt Ltd           Standby Line of   CRISIL        337    Assigned
                                       Credit            BBB+/Negative
Shastha Enterprises                    Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Shree Lalji Energy Foods Pvt Ltd       Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Shree Prayosha Jewellers               Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Shreyans Creation Global Ltd           Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Shriram City Union Finance Ltd         NCD               CRISIL        2500   Assigned
                                                         AA/Negative
Shriram City Union Finance Ltd         NCD               CRISIL        30000  Reaffirmed
                                                         AA/Negative
Shriram City Union Finance Ltd         NCD               CRISIL        6000   Reaffirmed
                                                         AA/Negative
Shriram City Union Finance Ltd         Subordinated Debt CRISIL        1000   Reaffirmed
                                                         AA/Negative
Shubhi Devi Higher Education Shiksha   Rating Advisory   -             -      -
Samiti
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Siddhi Ganesh Metal Pvt Ltd            Electronic Dealer CRISIL        240    Reaffirmed
                                       Financing         BB-/Stable
                                       Scheme(e-DFS)
Siddhi Ganesh Metal Pvt Ltd            Proposed LT Bk    CRISIL        10     Reaffirmed
                                       Loan Fac          BB-/Stable
Southern India Aquaculture             Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Spicecoast Hotels Pvt Ltd              Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Sree Vasavi Trust                      Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Sri Mahalakshmi Raw and Boiled Rice Mill CC              CRISIL D      100    -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B+/Stable)
Sri Mahalakshmi Raw and Boiled Rice Mill LT Loan         CRISIL D      2.7    -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B+/Stable)
Sri Varalakshmi Agro Tech Industries   Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Sri Varalakshmi Solvent Oils Pvt Ltd   Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Srishti Apparels                       Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Subasri Textile                        TL                CRISIL        53.5   -
                                                         BB-/Stable
Sula Vineyards Pvt Ltd                 Proposed LT Bk    CRISIL        200    Reaffirmed
                                       Loan Fac          A/Negative 
Sula Vineyards Pvt Ltd                 TL                CRISIL        984.5  -
                                                         A/Negative 
Sunil Chemical Industries              Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Swati Concast and Power Pvt Ltd        Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Swelore Engineering Pvt Ltd            Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
T.C. Agro Food Industries              Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Tara Educational Trust                 Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Telmos Electronics                     Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Thermax Ltd                            FB Fac            CRISIL        2900   Reaffirmed
                                                         AA+/Stable
Thermax Ltd                            Proposed LT Bk    CRISIL        200    Assigned
                                       Loan Fac          AA+/Stable
U and Co Marine Exports                Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
UPL Ltd                                CC##              CRISIL        11500  Reaffirmed
                                                         AA+/Negative
(##Fully interchangeable between cash credit, working capital demand loan, foreign currency
non-resident (Bank) loans, packing credit in INR, packing credit in foreign currency, export
bill discounting in INR and foreign currency, buyer's credit for imports and domestic purchases,
and domestic sales bill discounting. It can also be converted into non-fund-based facilities.) 
UPL Ltd                                Proposed CC Limit CRISIL        5000   Reaffirmed
                                                         AA+/Negative
UPL Ltd                                Proposed LT Bk    CRISIL        2000   Reaffirmed
                                       Loan Fac**        AA+/Negative
(**It can be converted into non-fund-based facilities.)
UPL Ltd                                Proposed WC Fac** CRISIL        15000  Reaffirmed
                                                         AA+/Negative
(**It can be converted into non-fund-based facilities.)
UPL Ltd                                NCD               CRISIL        5000   Reaffirmed
                                                         AA+/Negative
Usaka Hydro Powers Pvt Ltd             Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
V.K. Gupta and Associates              Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Vaigai Leather Corporation             Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Vama Wovenfab Pvt Ltd                  Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Veevee Controls Pvt Ltd                Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Velocis Systems Pvt Ltd                Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
VGP Marine Kingdom Pvt Ltd             Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Vinay Kumar Dixit                      Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
West Bengal Hosiery Park Infrastructure Rating Advisory  -             -      -
Ltd
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
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$: 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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