July 22, 2019 / 10:30 AM / in a month

CRISIL ratings for Indian debt instruments-Jul 22

    Jul 22 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of July 19 and July 20, 2019.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Abhimaani Prakashana                    BG                 CRISIL A4      20      Assigned
Abhimaani Prakashana                    Bill Purchase      CRISIL A4      20      Assigned
Adam Fabriwerk Pvt Ltd                  BG                 CRISIL A3+     125     Reaffirmed
Adam Fabriwerk Pvt Ltd                  LOC                CRISIL A3+     40      Reaffirmed
Aludecor Lamination Pvt Ltd             BG                 CRISIL A3+     5       Reaffirmed
Aludecor Lamination Pvt Ltd             LOC                CRISIL A3+     215     Reaffirmed
D. K. Electricals - Bhiwani             BG                 CRISIL A4      25      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
D. K. Electricals - Bhiwani             Proposed BG        CRISIL A4      35      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Dev Raj Rangwala                        LOC*               CRISIL A4+     35      Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)/*Interchangeable with bank guarantee
ECap Equities Ltd                       CP                 CRISIL A1+     12500   Reaffirmed
ECL Finance Ltd                         CP Programme       CRISIL A1+     50000   Reaffirmed
ECL Finance Ltd                         CP Programme (IPO  CRISIL A1+     100000  Reaffirmed
                                        Financing)
ECL Finance Ltd                         ST Principal       CRISIL PP-MLD  12000   Reaffirmed
                                        Protected Market   A1+r
                                        Linked Debentures
Edel Finance Co. Ltd                    CP                 CRISIL A1+      10000   Reaffirmed
Edelweiss Agri Value Chain Ltd          CP Programme       CRISIL A1+     10000   Withdrawn 
Edelweiss Asset Reconstruction Co. Ltd  CP Programme       CRISIL A1+     20000   Reaffirmed
Edelweiss Finance and Investments Ltd   CP                 CRISIL A1+     10000   Reaffirmed
Edelweiss Finance and Investments Ltd   ST Principal       CRISIL PP-MLD  715     Reaffirmed
                                        Protected          A1+r
                                        Market-Linked Debentures
Edelweiss Financial Services Ltd        CP                 CRISIL A1+     63500   Reaffirmed
Edelweiss Finvest Pvt Ltd               CP Programme       CRISIL A1+     10000   Reaffirmed
Edelweiss Finvest Pvt Ltd               ST Principal       CRISIL PP-MLD  5000    Reaffirmed
                                        Protected Market   A1+r
                                        Linked Debentures
Edelweiss Housing Finance Ltd           CP                 CRISIL A1+     10000   Reaffirmed
Edelweiss Retail Finance Ltd            CP                 CRISIL A1+     5000    Reaffirmed
Edelweiss Rural and Corporate Services  CP Programme (IPO  CRISIL A1+     80000   Reaffirmed
Ltd                                     Financing) 
Edelweiss Rural and Corporate Services  CP Programme       CRISIL A1+     95000   Reaffirmed
Ltd
*Transferred from Edelweiss Agri Value Chail Limited on its amalgamation with Edelweiss Rural
and Corporate Services Limited. (Enhanced from Rs 8500 Crore)
Edelweiss Securities Ltd                CP                 CRISIL A1+     10000   Reaffirmed
Elkay Chemicals Pvt Ltd                 BG                 CRISIL A4      0.5     Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
Elkay Chemicals Pvt Ltd                 LOC                CRISIL A4      45      Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
Finolex Cables Ltd                      LOC & BG#          CRISIL A1+     2500    Reaffirmed
#proposed instrument, yet to be issued 
Finolex Cables Ltd                      ST Debt            CRISIL A1+             Reaffirmed
Fresh Catch Exports                     Export Bill        CRISIL A4      10      Migrated
                                        Purchase
(Issuer Not Cooperating)
Fresh Catch Exports                     Packing Credit     CRISIL A4      70      Migrated
(Issuer Not Cooperating)
Guhan Sanjeevi Enterprises              BG                 CRISIL A4      60      Migrated
(Issuer Not Cooperating)
Hindustan Petroleum Corporation Ltd     Non-FBL            CRISIL A1+     170000  Reaffirmed
Hindustan Petroleum Corporation Ltd     CP Programme       CRISIL A1+     150000  Reaffirmed
HMTC Engineering Company (Kolkata) Pvt  BG                 CRISIL A4      50      Migrated
Ltd
(Issuer Not Cooperating)
IRAA Clothing Pvt Ltd                   LOC                CRISIL A3      110
Kanhaiya Lal Kalyanmal                  Packing Credit     CRISIL A4      30      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Kottackal Agro Foods                    Packing Credit     CRISIL A4+     35      Reaffirmed
Krishna Overseas - Gandhidham           LOC*               CRISIL A4      80
*Cash credit facility of Rs 2 crore is sublimit of LC.
Kurseong Carriers Pvt Ltd               Letter Of GuaranteeCRISIL A4      50      Migrated
(Issuer Not Cooperating)
Mahavir Rice Mills                      Bill Discounting   CRISIL A4+     60      Reaffirmed
Mahavir Rice Mills                      Packing Credit     CRISIL A4+     70      Reaffirmed
MAK Constructions                       BG                 CRISIL A4      5       Migrated
(Issuer Not Cooperating)
Mecone Construction Contractors         BG                 CRISIL A4+     80      Migrated
(Issuer Not Cooperating)
MM Auto Industries Ltd                  BG                 CRISIL A4      25      Migrated
(Issuer Not Cooperating)
MM Auto Industries Ltd                  Overdraft          CRISIL A4      30      Migrated
(Issuer Not Cooperating)
Moa Engineering Pvt Ltd                 BG                 CRISIL A3      185     Assigned
Mode Advertising and Marketing Pvt Ltd  BG                 CRISIL A4+     15      Migrated
(Issuer Not Cooperating)
Mohan Mercantile India Pvt Ltd          Bill Discounting   CRISIL A4+     150     Migrated from
                                        under LOC                                 CRISIL A3+
(Issuer Not Cooperating)
Mohan Spintex India Ltd.                Foreign Exchange   CRISIL A4+     42.5    Migrated from
                                        Forward                                   CRISIL A3+
(Issuer Not Cooperating)
Mohan Spintex India Ltd.                Foreign LOC        CRISIL A4+     90      Migrated from
                                                                                  CRISIL A3+
(Issuer Not Cooperating)
Mohan Spintex India Ltd.                Inland/Import LOC  CRISIL A4+     11      Migrated from
                                                                                  CRISIL A3+
(Issuer Not Cooperating)
Mohan Spintex India Ltd.                Packing Credit     CRISIL A4+     60      Migrated from
                                                                                  CRISIL A3+
(Issuer Not Cooperating)
Nessa Vitrified LLP                     BG                 CRISIL A4      30      Migrated
(Issuer Not Cooperating)
Northstone Builders and Developers Pvt  BG                 CRISIL A4      25      Migrated
Ltd
(Issuer Not Cooperating)
Nutek Technologies Pvt Ltd              BG                 CRISIL A4      5       Migrated
(Issuer Not Cooperating)
Nutek Technologies Pvt Ltd              LOC                CRISIL A4      15      Migrated
(Issuer Not Cooperating)
Nyles Sales & Infraprojects Pvt Ltd     LOC & BG           CRISIL A4      50      Migrated
(Issuer Not Cooperating)
Onora Hospitality Pvt Ltd               BG                 CRISIL A4      20      Reaffirmed
Onora Hospitality Pvt Ltd               Overdraft          CRISIL A4      30      Reaffirmed
P. C. Cherian                           BG                 CRISIL A4      12      Migrated
(Issuer Not Cooperating)
P. Dasaratharama Reddy                  BG                 CRISIL A4+     240     Migrated
(Issuer Not Cooperating)
P. R. Technoplast Pvt Ltd               Proposed NFBL      CRISIL A4      5       Migrated
(Issuer Not Cooperating)
Rambaran Singh Apex Pvt Ltd             BG                 CRISIL A4+     35      Migrated
(Issuer Not Cooperating)
Rambaran Singh Apex Pvt Ltd             Proposed BG        CRISIL A4+     65      Migrated
(Issuer Not Cooperating)
Rollza Granito LLP                      BG                 CRISIL A4      29      Migrated
(Issuer Not Cooperating)
RSV Constructions Pvt Ltd               BG                 CRISIL A4+     150     Withdrawn
(Issuer Not Cooperating)
Shanti Gopal Concast Ltd                Letter Of GuaranteeCRISIL A4+     209.4   Migrated
(Issuer Not Cooperating)
Sivasakthi Exports                      BG                 CRISIL A4      17.5    Migrated
(Issuer Not Cooperating)
Sparkle Commercial Pvt Ltd              LOC                CRISIL A4      60      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Sparkle Commercial Pvt Ltd              Proposed LOC       CRISIL A4      15      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
SpiceJet Ltd                            LOC^               CRISIL A4      7700    Reaffirmed
^Bank guarantee is a sub limit 
SpiceJet Ltd                            Packing Credit in  CRISIL A4      3500    Reaffirmed
                                        Foreign Currency
Sree Sai Ram Enterprises                BG                 CRISIL A4      155     Migrated
(Issuer Not Cooperating)
Sun Particle Board Pvt Ltd              BG                 CRISIL A4      5.5     Reaffirmed
Syngene International Ltd               LOC & BG           CRISIL A1+     185     Reaffirmed
Syngene International Ltd               Overdraft          CRISIL A1+     50      Reaffirmed
Syngene International Ltd               Packing Credit in  CRISIL A1+     1815    Reaffirmed
                                        Foreign Currency
Tara Chand Logistic Solutions Ltd       BG                 CRISIL A4+     170     Assigned
Thermosystems Pvt Ltd                   BG                 CRISIL A3+     620
Thermosystems Pvt Ltd                   LOC                CRISIL A3+     330
Thermosystems Pvt Ltd                   Overdraft          CRISIL A3+     10
Towels Enterprises Ltd                  Inland/Import LOC  CRISIL A4+     35      Migrated
(Issuer Not Cooperating)
UTM Engineering Pvt Ltd                 BG                 CRISIL D       27      Downgraded
                                                                                  from 'CRISIL
                                                                                  A4
Uni Klinger Ltd                         LOC**              CRISIL A3+     30      Reaffirmed
**Fully interchangeable with Bank guarantee 
UPS Constructions Pvt Ltd               BG                 CRISIL A4+     150     Migrated
(Issuer Not Cooperating)
Vijayasree Foods                        BG                 CRISIL A4      100     Reaffirmed
VSM Enterprises Pvt Ltd                 BG                 CRISIL A4      3       Migrated
(Issuer Not Cooperating)
VSM Enterprises Pvt Ltd                 Proposed NFBL      CRISIL A4      17      Migrated
(Issuer Not Cooperating)

MEDIUM TERM RATINGS:
-------------------
Hindustan Petroleum Corporation Ltd     FD Programme       FAAA           -       Reaffirmed
 
LONG TERM RATINGS:
-------------------
Abhimaani Prakashana                    CC                 CRISIL C       60      Assigned
Adam Fabriwerk Pvt Ltd                  CC                 CRISIL BBB     300     Reaffirmed
Adam Fabriwerk Pvt Ltd                  Proposed WC Fac    CRISIL BBB     75      Reaffirmed
Adam Fabriwerk Pvt Ltd                  TL                 CRISIL BBB     30      Reaffirmed
Aludecor Lamination Pvt Ltd             CC                 CRISIL BBB     470     Reaffirmed
Aludecor Lamination Pvt Ltd             LT Loan            CRISIL BBB     91.4    Reaffirmed
Aludecor Lamination Pvt Ltd             Proposed LT Bk     CRISIL BBB     82.6    Reaffirmed
                                        Loan Fac
Aludecor Lamination Pvt Ltd             TL                 CRISIL BBB     90      Reaffirmed
Ariha Diamond Jewellery Pvt Ltd         CC                 CRISIL BB+     200     Reaffirmed
Bright Star Syntex Pvt Ltd              CC                 CRISIL BB-     100     Reaffirmed
Bright Star Syntex Pvt Ltd              TL                 CRISIL BB-     50      Reaffirmed
D. K. Electricals - Bhiwani             Overdraft          CRISIL B+      45      Migrated from
                                                                                  CRISIL BB-
(Issuer Not Cooperating)
D. K. Electricals - Bhiwani             Proposed CC Limit  CRISIL B+      15      Migrated from
                                                                                  CRISIL BB-
(Issuer Not Cooperating)
Dev Raj Rangwala                        CC                 CRISIL BB-     80      Migrated from
                                                                                  CRISIL B+
(Issuer Not Cooperating)
Dev Raj Rangwala                        Proposed LT Bk     CRISIL BB-     10      Migrated from
                                        Loan Fac                                  CRISIL B+
(Issuer Not Cooperating)
Dhruva Advisors LLP                     CC & WC demand loanCRISIL BBB     100     Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
ECL Finance Ltd                         CC**               CRISIL AA      25800   Reaffirmed
**Including working capital demand loan
ECL Finance Ltd                         LT Bk Fac          CRISIL AA      123550  Reaffirmed
ECL Finance Ltd                         Proposed LT Bk     CRISIL AA      650     Reaffirmed
                                        Loan Fac*
*Interchangeable with short term bank facilities
ECL Finance Ltd                         Retail Bond@       CRISIL AA      20000   Reaffirmed
@proposed public issue of retail NCDs
ECL Finance Ltd                         Retail Bond        CRISIL AA      20000   Reaffirmed
ECL Finance Ltd                         NCD                CRISIL AA      15000   Reaffirmed
ECL Finance Ltd                         NCD@               CRISIL AA      20000   Reaffirmed
@proposed public issue of retail NCDs
ECL Finance Ltd                         NCD                CRISIL AA      39800   Reaffirmed
(Reduced from Rs.4130 Crore)
ECL Finance Ltd                         Subordinated Debt  CRISIL AA      4000    Reaffirmed
ECL Finance Ltd                         LT Principal       CRISIL PP-MLD  3000    Reaffirmed
                                        Protected Market   Aar
                                        Linked Debentures
ECL Finance Ltd                         LT Principal       CRISIL PP-MLD  9833    Reaffirmed
                                        Protected Market   Aar
                                        Linked Debentures
(Reduced from Rs.1000 Crore)
ECL Finance Ltd                         Principal          CRISIL PP-MLD  11900   Reaffirmed
                                        Protected Equity   Aar
                                        Linked Debentures
ECL Finance Ltd                         Principal          CRISIL PP-MLD  350     Reaffirmed
                                        Protected          Aar
                                        Commoptionally convertible debentureity Linked
Debentures
Edelweiss Agri Value Chain Ltd          LT Bk Fac^         CRISIL AA      6250    Withdrawn 
^interchangeable between letter of credit, buyer's credit and fund based facilities
Edelweiss Agri Value Chain Ltd          Proposed LT Bk     CRISIL AA      3750    Withdrawn 
                                        Loan Fac*
*interchangeable with short term bank facilities
Edelweiss Agri Value Chain Ltd          NCD                CRISIL AA      5000    Withdrawn 
Edelweiss Agri Value Chain Ltd          NCDs Rs.1000       CRISIL AA      10000   Withdrawn 
                                        Crore 
Edelweiss Asset Reconstruction Co. Ltd  CC*                CRISIL AA-     1050    Reaffirmed
*Interchangeable between long-term and short-term
Edelweiss Asset Reconstruction Co. Ltd  LT Bk Fac*         CRISIL AA-     1750    Reaffirmed
*Interchangeable between long-term and short-term
Edelweiss Asset Reconstruction Co. Ltd  Proposed LT Bk     CRISIL AA-     2700    Reaffirmed
                                        Loan Fac*
*Interchangeable between long-term and short-term
Edelweiss Asset Reconstruction Co. Ltd  NCD                CRISIL AA-     10000   Reaffirmed
Edelweiss Asset Reconstruction Co. Ltd  NCD                CRISIL AA-     15000   Reaffirmed
Edelweiss Asset Reconstruction Co. Ltd  NCD Issue          CRISIL AA-     15500   Reaffirmed
Edelweiss Asset Reconstruction Co. Ltd  NCD*               CRISIL AA(SO)  1500    Reaffirmed
*aggregate not to exceed Rs 150 crore
Edelweiss Asset Reconstruction Co. Ltd  LT Principal       CRISIL PP-MLD  2000    Reaffirmed
                                        Protected Market   AAr(SO)
                                        Linked Debentures
Edelweiss Asset Reconstruction Co. Ltd  LT Principal       CRISIL PP-MLD  1500    Reaffirmed
                                        Protected Market   AAr(SO)
                                        Linked Debentures*
*aggregate not to exceed Rs 150 crore
Edelweiss Finance and Investments Ltd   Proposed LT Bk     CRISIL AA      5000    Reaffirmed
                                        Loan Fac^
^Interchangeable between short term and long term
Edelweiss Finance and Investments Ltd   NCD                CRISIL AA      5100    Reaffirmed
Edelweiss Finance and Investments Ltd   Preference Share   CRISIL AA      1050    Reaffirmed
                                        Issue
Edelweiss Finvest Pvt Ltd               LT Bk Fac          CRISIL AA      500     Reaffirmed
Edelweiss Finvest Pvt Ltd               Proposed LT Bk     CRISIL AA      4500    Reaffirmed
                                        Loan Fac^
^Interchangeable with short term bank facilities
Edelweiss Finvest Pvt Ltd               NCD                CRISIL AA      5000    Reaffirmed
Edelweiss Finvest Pvt Ltd               NCD                CRISIL AA      2000    Reaffirmed
Edelweiss Finvest Pvt Ltd               LT Principal       CRISIL PP-MLD  10000   Reaffirmed
                                        Protected Market   Aar
                                        Linked Debentures
Edelweiss Finvest Pvt Ltd               LT Principal       CRISIL PP-MLD  5000    Reaffirmed
                                        Protected Market   Aar
                                        Linked Debentures
Edelweiss Finvest Pvt Ltd               LT Principal       CRISIL PP-MLD  7500    Reaffirmed
                                        Protected Market   Aar
                                        Linked Debentures
Edelweiss Finvest Pvt Ltd               LT Principal       CRISIL PP-MLD  3000    Reaffirmed
                                        Protected Market   Aar
                                        Linked Debentures
Edelweiss Finvest Pvt Ltd               LT Principal       CRISIL PP-MLD  3500    Reaffirmed
                                        Protected Market   Aar
                                        Linked Debentures
Edelweiss Housing Finance Ltd           LT Bk Fac^         CRISIL AA      7150    Reaffirmed
^Interchangeable between short term and long term
Edelweiss Housing Finance Ltd           Overdraft          CRISIL AA      1200    Reaffirmed
Edelweiss Housing Finance Ltd           Proposed LT Bk     CRISIL AA      5000    Reaffirmed
                                        Loan Fac^
^Interchangeable between short term and long term 
Edelweiss Housing Finance Ltd           NCD                CRISIL AA      10000   Reaffirmed
Edelweiss Housing Finance Ltd           NCD                CRISIL AA      10000   Reaffirmed
Edelweiss Housing Finance Ltd           Subordinated Debt  CRISIL AA      2000    Reaffirmed
Edelweiss Retail Finance Ltd            Proposed LT Bk     CRISIL AA      5000    Reaffirmed
                                        Loan Fac^
^Interchangeable between short term and long term
Edelweiss Retail Finance Ltd            NCD*               CRISIL AA      5000    Reaffirmed
*Public issue of retail NCDs
Edelweiss Retail Finance Ltd            NCD                CRISIL AA      5000    Reaffirmed
Edelweiss Retail Finance Ltd            Subordinated Debt  CRISIL AA      2000    Reaffirmed
Edelweiss Retail Finance Ltd            Subordinated Debt  CRISIL AA      1000    Reaffirmed
Edelweiss Rural and Corporate Services  LT Bk Fac          CRISIL AA      6250    Reaffirmed
Ltd
Edelweiss Rural and Corporate Services  Overdraft          CRISIL AA      500     Reaffirmed
Ltd
Edelweiss Rural and Corporate Services  Proposed LT Bk     CRISIL AA      20620   Reaffirmed
Ltd                                     Loan Fac**
**Interchangeable with short term bank facilities
Edelweiss Rural and Corporate Services  NCD                CRISIL AA      10000   Reaffirmed
Ltd
Edelweiss Rural and Corporate Services  NCD                CRISIL AA      70000   Reaffirmed
Ltd
Edelweiss Rural and Corporate Services  PS                 CRISIL AA      1050    Reaffirmed
Ltd
Edelweiss Rural and Corporate Services  NCD*               CRISIL AA      5000    Reaffirmed
Ltd
*Transferred from Edelweiss Agri Value Chail Limited on its amalgamation with Edelweiss Rural
and Corporate Services Limited. 
Edelweiss Rural and Corporate Services  NCDs               CRISIL AA      10000   Reaffirmed
Ltd
Edelweiss Securities Ltd                CC                 CRISIL AA      500     Reaffirmed
Edelweiss Securities Ltd                Overdraft*         CRISIL AA      7000    Reaffirmed
*interchangeable with short term bank facilities
Edelweiss Securities Ltd                Proposed LT Bk     CRISIL AA      5300    Reaffirmed
                                        Loan Fac
Emil Traders Pvt Ltd                    Export Packing     CRISIL BB+     490     Reaffirmed
                                        Credit
Emil Traders Pvt Ltd                    Foreign Bill       CRISIL BB+     110     Reaffirmed
                                        Discounting
Emil Traders Pvt Ltd                    Proposed LT Bk     CRISIL BB+     70      Reaffirmed
                                        Loan Fac
Finolex Cables Ltd                      CC*                CRISIL AA+     2000    Reaffirmed
*Interchangeable with overdraft facility, bill discounting, cheque discounting, packing credit,
and short-term loan
Finolex Cables Ltd                      NCD                CRISIL AA+             Assigned
Fresh Catch Exports                     TL                 CRISIL B+      70      Migrated
(Issuer Not Cooperating)
Gagana Enterprises                      CC                 CRISIL B+      25      Migrated
(Issuer Not Cooperating)
Gagana Enterprises                      Proposed LT Bk     CRISIL B+      5       Migrated
                                        Loan Fac
(Issuer Not Cooperating)
Guhan Sanjeevi Enterprises              CC                 CRISIL B       25      Migrated
(Issuer Not Cooperating)
Hindustan Petroleum Corporation Ltd     CC*                CRISIL AAA     40000   Reaffirmed
*Fungible with bank guarantee
Hindustan Petroleum Corporation Ltd     FB Fac             CRISIL AAA     240000  Reaffirmed
Hindustan Petroleum Corporation Ltd     NCD                CRISIL AAA     25000   Assigned
Hindustan Petroleum Corporation Ltd     NCD                CRISIL AAA     25000   Reaffirmed
HMTC Engineering Company (Kolkata) Pvt  CC                 CRISIL B+      80      Migrated
Ltd
(Issuer Not Cooperating)
IRAA Clothing Pvt Ltd                   CC                 CRISIL BBB-    100
IRAA Clothing Pvt Ltd                   LT Loan            CRISIL BBB-    109
IRAA Clothing Pvt Ltd                   Proposed LT Bk     CRISIL BBB-    31
                                        Loan Fac
K M Gourish and Others                  Proposed LT Bk     CRISIL BB-     90      Migrated
                                        Loan Fac
(Issuer Not Cooperating)
Kanhaiya Lal Kalyanmal                  Foreign Bill       CRISIL B+      70      Revised from
                                        Discounting                               CRISIL BB
(Issuer Not Cooperating)
Khushi Exim Pvt Ltd                     CC                 CRISIL D       140
(Issuer Not Cooperating)
Kottackal Agro Foods                    CC                 CRISIL BB      30      Reaffirmed
Kottackal Agro Foods                    Proposed LT Bk     CRISIL BB      9       Reaffirmed
                                        Loan Fac
Kottackal Agro Foods                    TL                 CRISIL BB      6       Reaffirmed
Krishna Overseas - Gandhidham           Proposed LT Bk     CRISIL B+      5
                                        Loan Fac
Kshatriya Constructions                 Overdraft          CRISIL BB-     100     Migrated
(Issuer Not Cooperating)
Kurseong Carriers Pvt Ltd               LT Loan            CRISIL B+      8.2     Migrated
(Issuer Not Cooperating)
Kurseong Carriers Pvt Ltd               Overdraft          CRISIL B+      40      Migrated
(Issuer Not Cooperating)
Lotus Global Pvt Ltd                    Foreign Bill       CRISIL BBB-    238     Assigned
                                        Discounting
Lotus Global Pvt Ltd                    TL                 CRISIL BBB-    12      Assigned
Mahaa Lakshmi Cold Storage              LT Loan            CRISIL B-      45      Migrated
(Issuer Not Cooperating)
Mahaa Lakshmi Cold Storage              Proposed LT Bk     CRISIL B-      15      Migrated
                                        Loan Fac
(Issuer Not Cooperating)
Mahavir Rice Mills                      CC                 CRISIL BB-     20      Reaffirmed
Majestic Property Developers Pvt Ltd    Proposed LT Bk     CRISIL B+      100     Migrated
                                        Loan Fac
(Issuer Not Cooperating)
MAK Constructions                       CC/ Overdraft Fac  CRISIL B+      175     Migrated
(Issuer Not Cooperating)
Mecone Construction Contractors         Overdraft          CRISIL BB-     120     Migrated
(Issuer Not Cooperating)
MM Auto Industries Ltd                  CC                 CRISIL B       105     Migrated
(Issuer Not Cooperating)
MM Auto Industries Ltd                  Proposed FB Bk     CRISIL B       20.5    Migrated
                                        Limits
(Issuer Not Cooperating)
MM Auto Industries Ltd                  Standby Line of    CRISIL B       19.5    Migrated
                                        Credit
(Issuer Not Cooperating)
Moa Engineering Pvt Ltd                 CC                 CRISIL BBB-    65      Assigned
Mode Advertising and Marketing Pvt Ltd  CC                 CRISIL BB-     57.5    Migrated
(Issuer Not Cooperating)
Mode Advertising and Marketing Pvt Ltd  Proposed WC Fac    CRISIL BB-     72.5    Migrated
(Issuer Not Cooperating)
Mohan Mercantile India Pvt Ltd          CC                 CRISIL BB+     50      Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Mohan Spintex India Ltd.                CC                 CRISIL BB+     1190    Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Mohan Spintex India Ltd.                Corporate Loan     CRISIL BB+     376     Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Mohan Spintex India Ltd.                Proposed WC Fac    CRISIL BB+     205.8   Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Mohan Spintex India Ltd.                TL                 CRISIL BB+     2024.7  Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Mohan Spintex India Ltd.                NCD                CRISIL BB+     350     Migrated from
                                                                                  CRISIL BB+
(Issuer Not Cooperating)
Nachimuthu Industrial Association       Proposed LT Bk     CRISIL B-      120     Migrated
                                        Loan Fac
(Issuer Not Cooperating)
Nachimuthu Industrial Association       TL                 CRISIL B-      230     Migrated
(Issuer Not Cooperating)
Nandhana Foods Pvt Ltd                  CC                 CRISIL BB      60      Reaffirmed
Nandhana Foods Pvt Ltd                  LT Loan            CRISIL BB      28      Reaffirmed
Nandhana Foods Pvt Ltd                  Proposed LT Bk     CRISIL BB      412     Reaffirmed
                                        Loan Fac
Nessa Vitrified LLP                     CC                 CRISIL B       100     Migrated
(Issuer Not Cooperating)
Nessa Vitrified LLP                     TL                 CRISIL B       246.4   Migrated
(Issuer Not Cooperating)
North Coastal Integrated Food Park Pvt  TL                 CRISIL B+      200     Migrated
Ltd
(Issuer Not Cooperating)
North Karnataka Expressway Ltd          NCD1               CRISIL A+(SO)  289
1Refers to the issue value of the zero coupon bonds yet to be redeemed/(Continues on 'Rating
Watch with Negative Implications')
Northstone Builders and Developers Pvt  Overdraft          CRISIL B       62      Migrated
Ltd
(Issuer Not Cooperating)
Nutek Technologies Pvt Ltd              CC                 CRISIL B       25      Migrated
(Issuer Not Cooperating)
Nutek Technologies Pvt Ltd              Proposed LT Bk     CRISIL B       15      Migrated
                                        Loan Fac
(Issuer Not Cooperating)
Nyles Sales & Infraprojects Pvt Ltd     CC                 CRISIL B       100     Migrated
(Issuer Not Cooperating)
Opal Luxury Time Products Ltd           BG                 CRISIL D       10
(Issuer Not Cooperating)
Opal Luxury Time Products Ltd           CC                 CRISIL D       80
(Issuer Not Cooperating)
Opal Luxury Time Products Ltd           LOC                CRISIL D       50
(Issuer Not Cooperating)
Orange Jaisalmer Wind Energy Pvt Ltd    CC                 CRISIL A-      72      Reaffirmed 
Removed from 'Rating Watch with Developing Implications
Orange Jaisalmer Wind Energy Pvt Ltd    TL                 CRISIL A-      1358    Reaffirmed 
Removed from 'Rating Watch with Developing Implications
Orange Mamatkheda Wind Pvt Ltd          LT Loan            CRISIL BBB     6200    Reaffirmed
Removed from 'Rating Watch with Developing Implications
Oriental Textiles Industries            CC                 CRISIL D       80      Migrated
(Issuer Not Cooperating)
P. C. Cherian                           Bill Discounting   CRISIL B       20      Migrated
(Issuer Not Cooperating)
P. C. Cherian                           CC                 CRISIL B       55      Migrated
(Issuer Not Cooperating)
P. C. Cherian                           Proposed LT Bk     CRISIL B       13      Migrated
                                        Loan Fac
(Issuer Not Cooperating)
P. Dasaratharama Reddy                  CC                 CRISIL BB+     50      Migrated
(Issuer Not Cooperating)
P. Dasaratharama Reddy                  Proposed BG        CRISIL BB+     10      Migrated
(Issuer Not Cooperating)
P. R. Technoplast Pvt Ltd               CC/ Overdraft Fac  CRISIL B       45      Migrated
(Issuer Not Cooperating)
P. R. Technoplast Pvt Ltd               Rupee TL           CRISIL B       75      Migrated
(Issuer Not Cooperating)
Panna Agrotech Cold Storage Pvt Ltd     CC                 CRISIL B+      19.4    Migrated
(Issuer Not Cooperating)
Panna Agrotech Cold Storage Pvt Ltd     Proposed LT Bk     CRISIL B+      10.6    Migrated
                                        Loan Fac
(Issuer Not Cooperating)
Pooja Enterprises - Narela              CC                 CRISIL BB-     200     Migrated
(Issuer Not Cooperating)
Qualit Agro Processors                  Line of Credit     CRISIL BB-     130     Migrated
(Issuer Not Cooperating)
Qualit Agro Processors                  Packing Credit     CRISIL BB-     70      Migrated
(Issuer Not Cooperating)
Raihan Healthcare Pvt Ltd               LT Loan            CRISIL D       320     Migrated
(Issuer Not Cooperating)
Rambaran Singh Apex Pvt Ltd             CC                 CRISIL BB+     35      Migrated
(Issuer Not Cooperating)
Rambaran Singh Apex Pvt Ltd             Proposed CC Limit  CRISIL BB+     15      Migrated
(Issuer Not Cooperating)
Ramineni Agro Industries Pvt Ltd        CC                 CRISIL B+      100     Reaffirmed
Ramineni Agro Industries Pvt Ltd        LT Loan            CRISIL B+      12.5    Reaffirmed
Ramineni Agro Industries Pvt Ltd        Proposed LT Bk     CRISIL B+      12.5    Reaffirmed
                                        Loan Fac
Ridhi Sidhi Iron Pvt Ltd                CC                 CRISIL BB-     130     Migrated
(Issuer Not Cooperating)
Rollza Granito LLP                      CC                 CRISIL B+      100     Migrated
(Issuer Not Cooperating)
Rollza Granito LLP                      LT Loan            CRISIL B+      340     Migrated
(Issuer Not Cooperating)
Rollza Granito LLP                      Proposed LT Bk     CRISIL B+      1       Migrated
                                        Loan Fac
(Issuer Not Cooperating)
RSV Constructions Pvt Ltd               CC                 CRISIL BB      100     Withdrawn
(Issuer Not Cooperating)
Sagar Industries                        CC                 CRISIL B-      145     Migrated
(Issuer Not Cooperating)
Sahana Clothing Company Pvt Ltd         Bill Discounting   CRISIL BBB     20      Reaffirmed
Sahana Clothing Company Pvt Ltd         CC                 CRISIL BBB     300     Reaffirmed
Sahana Clothing Company Pvt Ltd         Export Packing     CRISIL BBB     30      Reaffirmed
                                        Credit
Sahana Clothing Company Pvt Ltd         Export Packing     CRISIL BBB     220     Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Sahana Clothing Company Pvt Ltd         Key CC             CRISIL BBB     200     Reaffirmed
Sahana Clothing Company Pvt Ltd         LT Loan            CRISIL BBB     110     Reaffirmed
Sahana Clothing Company Pvt Ltd         Proposed LT Bk     CRISIL BBB     10      Reaffirmed
                                        Loan Fac
Sandla Wind Project Pvt Ltd             TL                 CRISIL BBB     742
Continues on 'Rating Watch with Developing Implications'
Sandla Wind Project Pvt Ltd             TL                 CRISIL BBB     742
Continues on 'Rating Watch with Developing Implications'
Sathvika                                CC                 CRISIL BB-     87.5    Migrated
(Issuer Not Cooperating)
Sathvika                                Cash TL            CRISIL BB-     2.5     Migrated
(Issuer Not Cooperating)
Sathvika                                Proposed LT Bk     CRISIL BB-     10      Migrated
                                        Loan Fac
(Issuer Not Cooperating)
Satpura Foods Pvt Ltd                   CC                 CRISIL B+      80      Migrated
(Issuer Not Cooperating)
Sezon Papers Pvt Ltd                    CC                 CRISIL BB-     110     Migrated
(Issuer Not Cooperating)
Sezon Papers Pvt Ltd                    TL                 CRISIL BB-     92.5    Migrated
(Issuer Not Cooperating)
Shanti Gopal Concast Ltd                CC                 CRISIL BB+     250     Migrated
(Issuer Not Cooperating)
Shanti Gopal Concast Ltd                LT Loan            CRISIL BB+     254.6   Migrated
(Issuer Not Cooperating)
Shiv Mahal Textiles Pvt Ltd             CC                 CRISIL BB+     175     Reaffirmed
Shiv Mahal Textiles Pvt Ltd             TL                 CRISIL BB+     25      Reaffirmed
Shivin CA Store                         TL                 CRISIL D       100     Downgraded
                                                                                  from CRISIL B+
Shree Jagdamba Industries               CC                 CRISIL B+      65      Migrated
(Issuer Not Cooperating)
Shree Jagdamba Industries               LT Loan            CRISIL B+      5       Migrated
(Issuer Not Cooperating)
Shree Om Milk Foods Pvt Ltd             Overdraft          CRISIL B       60      Migrated
(Issuer Not Cooperating)
Shree Vishal Jewellers                  CC                 CRISIL B       80      Migrated
(Issuer Not Cooperating)
Shree Vishal Jewellers                  Proposed WC Fac    CRISIL B       75      Migrated
(Issuer Not Cooperating)
Silverlines Gems and Jewellery Pvt Ltd  CC                 CRISIL B-      95      Migrated
(Issuer Not Cooperating)
Sivasakthi Exports                      CC                 CRISIL B+      10      Migrated
(Issuer Not Cooperating)
Sivasakthi Exports                      Export Packing     CRISIL B+      25      Migrated
                                        Credit
(Issuer Not Cooperating)
Sivasakthi Exports                      LT Loan            CRISIL B+      17.5    Migrated
(Issuer Not Cooperating)
Skeiron Renewable Energy Amidyala Ltd   TL                 CRISIL BBB     14309.4
Continues on 'Rating Watch with Developing Implications'
Skilworth Technologies Pvt Ltd          Proposed LT Bk     CRISIL BB+     100     Assigned
                                        Loan Fac
SM Autovision Pvt Ltd                   CC                 CRISIL B       10      Migrated
(Issuer Not Cooperating)
SM Autovision Pvt Ltd                   TL                 CRISIL B       100     Migrated
(Issuer Not Cooperating)
Sparkle Commercial Pvt Ltd              Proposed CC Limit  CRISIL B+      5       Migrated from
                                                                                  CRISIL BB
(Issuer Not Cooperating)
SpiceJet Ltd                            TL                 CRISIL BB-     3250    Reaffirmed
Spring Dynamics Pvt Ltd                 CC                 CRISIL B       15      Migrated
(Issuer Not Cooperating)
Spring Dynamics Pvt Ltd                 Proposed LT Bk     CRISIL B       29      Migrated
                                        Loan Fac
(Issuer Not Cooperating)
Spring Dynamics Pvt Ltd                 TL                 CRISIL B       14      Migrated
(Issuer Not Cooperating)
Sree Sai Ram Enterprises                Secured Overdraft  CRISIL B+      5       Migrated
                                        Fac
(Issuer Not Cooperating)
Sri Adisankaracharya Cotton and Oil     CC                 CRISIL B       120     Reaffirmed
Mills Pvt Ltd
Sri Adisankaracharya Cotton and Oil     LT Loan            CRISIL B       21      Reaffirmed
Mills Pvt Ltd
Sri Adisankaracharya Cotton and Oil     Proposed LT Bk     CRISIL B       29      Reaffirmed
Mills Pvt Ltd                           Loan Fac
Sri Parameswari Projects Pvt Ltd        CC                 CRISIL D       45      Migrated
(Issuer Not Cooperating)
Sri Parameswari Projects Pvt Ltd        LT Loan            CRISIL D       8       Migrated
(Issuer Not Cooperating)
Sri Parameswari Projects Pvt Ltd        Overdraft          CRISIL D       4       Migrated
(Issuer Not Cooperating)
Sri Parameswari Projects Pvt Ltd        Proposed LT Bk     CRISIL D       43      Migrated
                                        Loan Fac
(Issuer Not Cooperating)
Srimathi Sundaravalli Memorial          LT Loan            CRISIL D       530     Reaffirmed
Educational Trust                                                                 and Withdrawn
Subra International Pvt Ltd             Proposed LT Bk     CRISIL BB-     240     Migrated
                                        Loan Fac
(Issuer Not Cooperating)
Sun Particle Board Pvt Ltd              CC                 CRISIL B+      20      Reaffirmed
Sun Particle Board Pvt Ltd              LT Loan            CRISIL B+      58.6    Reaffirmed
Sundaram Exports                        Post Shipment      CRISIL BB      420     Reaffirmed
                                        Credit
Supreme Entertainments (India) Pvt Ltd  CC                 CRISIL BB-     65      Reaffirmed
Swarup Rolling Mills Ltd                CC                 CRISIL BB+     220     Reaffirmed
Syngene International Ltd               Buyer`s Credit     CRISIL AA      350     Reaffirmed
Syngene International Ltd               Packing Credit in  CRISIL AA      600     Reaffirmed
                                        Foreign Currency*
*Fully interchangeable with cash credit. 
T S S S Infotech and Infra Pvt Ltd      LT Loan            CRISIL BB-     63.4    Migrated
(Issuer Not Cooperating)
T S S S Infotech and Infra Pvt Ltd      Proposed LT Bk     CRISIL BB-     26.6    Migrated
                                        Loan Fac
(Issuer Not Cooperating)
Tara Chand Logistic Solutions Ltd       Proposed FB Bk     CRISIL BB+     87      Assigned
                                        Limits
Tara Chand Logistic Solutions Ltd       LT Loan            CRISIL BB+     50.5    Assigned
Tara Chand Logistic Solutions Ltd       CC                 CRISIL BB+     92.5    Assigned
Theiva Exim                             CC                 CRISIL B+      40      Migrated
(Issuer Not Cooperating)
Theiva Exim                             Proposed WC Fac    CRISIL B+      60      Migrated
(Issuer Not Cooperating)
Thermosystems Pvt Ltd                   CC                 CRISIL BBB     100
Thermosystems Pvt Ltd                   Proposed LT Bk     CRISIL BBB     1.6
                                        Loan Fac
Towels Enterprises Ltd                  CC                 CRISIL BB-     50      Migrated
(Issuer Not Cooperating)
Towels Enterprises Ltd                  Proposed WC Fac    CRISIL BB-     15      Migrated
(Issuer Not Cooperating)
Uni Klinger Ltd                         CC*                CRISIL BBB     160     Reaffirmed
*Sublimit of Working capital demand loan/Export packing credit/post credit/Pre shipment credit
in foreign currency by up to Rs 5 crore
Uni Klinger Ltd                         LT Loan            CRISIL BBB     15      Reaffirmed
Uni Klinger Ltd                         Proposed WC Fac    CRISIL BBB     115     Reaffirmed
UPS Constructions Pvt Ltd               CC                 CRISIL BB-     50      Migrated
(Issuer Not Cooperating)
UTM Engineering Pvt Ltd                 Overdraft          CRISIL D       15      Downgraded
                                                                                  from CRISIL C
UTM Engineering Pvt Ltd                 Proposed CC Limit  CRISIL D       58      -
Venus March 2019 (Originator: Asirvad   Series A PTCs      CRISIL A (SO)  -
Microfinance Ltd)
Converted from Provisional Rating to Final Rating
Vijayasree Foods                        CC                 CRISIL B+      100     Reaffirmed
Viraj Canes And Energy Ltd              CC                 CRISIL B+      30      Migrated
(Issuer Not Cooperating)
Viraj Canes And Energy Ltd              Proposed LT Bk     CRISIL B+      250     Migrated
                                        Loan Fac
(Issuer Not Cooperating)
Viraj Canes And Energy Ltd              TL                 CRISIL B+      200     Migrated
(Issuer Not Cooperating)
Vraj Psyllium                           CC                 CRISIL B       23      Migrated
(Issuer Not Cooperating)
Vraj Psyllium                           Rupee TL           CRISIL B       48      Migrated
(Issuer Not Cooperating)
VSM Enterprises Pvt Ltd                 CC/ Overdraft Fac  CRISIL B+      50      Migrated
(Issuer Not Cooperating)
--------------------------------------------------------------------------------------------
$: 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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