July 29, 2020 / 8:32 AM / 9 days ago

CRISIL ratings for Indian debt instruments-Jul 29

   Jul 29 - Below are the ratings awarded by Credit Rating Information Service of India (CRISIL)
for local debt instruments as of July 28, 2020.


COMPANY                                INSTRUMENT        RATING        AMOUNT MOVEMENT
                                                                      (RS.MLN)
------                                 ----------        ------        -----  ---------
SHORT TERM RATINGS:
-------------------
ADD Pens Pvt Ltd                       BG                CRISIL A4+    5      Reaffirmed
(Issuer Not Cooperating)
ADD Pens Pvt Ltd                       LOC               CRISIL A4+    12.5   Reaffirmed
(Issuer Not Cooperating)
Aditya Aggregates                      BG                CRISIL A4     15     Reaffirmed
(Issuer Not Cooperating)
Allied Electro Mechanicals Pvt Ltd     BG                CRISIL A4     15     Reaffirmed
(Issuer Not Cooperating)
Allied Electro Mechanicals Pvt Ltd     LOC               CRISIL A4     2      Reaffirmed
(Issuer Not Cooperating)
Annai Infra Developers Ltd             BG                CRISIL A4     1691.8 Reaffirmed
(Revised from 'CRISIL A4' to 'CRISIL D' and Simultaneously Upgraded to 'CRISIL A4')
B D Corporates Pvt Ltd                 BG                CRISIL A4+    15.5   Reaffirmed
Berry Alloys Ltd                       BG                CRISIL A2     100    Reaffirmed
Berry Alloys Ltd                       LOC               CRISIL A2     300    Reaffirmed
Bhaskar Resources Pvt Ltd              BG                CRISIL A4+    30     Reaffirmed
(Issuer Not Cooperating)
BLA Udyog Pvt Ltd                      LOC               CRISIL A4+    50     Reaffirmed
(Issuer Not Cooperating)
Braza Tyres Pvt Ltd                    LOC               CRISIL A4     10     -
(Downgraded from 'CRISIL A4+')
Capshare Impex Pvt Ltd                 LOC               CRISIL A4     10.7   -
(Migrated from 'CRISIL D ISSUER NOT COOPERATING)
CDE Asia Ltd                           BG                CRISIL A2     100    Reaffirmed
Concept Pharmaceuticals Ltd            BG                CRISIL A3+    45     Reaffirmed
Concept Pharmaceuticals Ltd            LOC               CRISIL A3+    80     Reaffirmed
Drill Jig Bushing Co (Madras) Pvt Ltd  Packing Credit    CRISIL A4     13     Assigned
D-Vois Communications Pvt Ltd          BG                CRISIL A3     36     Reaffirmed
Elegant Collection                     BG                CRISIL A2+    5      Reaffirmed
Elegant Collection                     Foreign Exchange  CRISIL A2+    20     Reaffirmed
                                       Forward
Elegant Collection                     Post Shipment     CRISIL A2+    330    Reaffirmed
                                       Credit
Euroasia Trans Continental             Import LOC Limit  CRISIL A4+    5      Reaffirmed
(Issuer Not Cooperating)
Explicit Leathers                      Bill Discounting  CRISIL A4     35     Reaffirmed
(Issuer Not Cooperating)
Exquisite Enterprises Pvt Ltd          LOC               CRISIL A4     57.5   Reaffirmed
(Issuer Not Cooperating)
Garg Agrifoods Pvt Ltd                 BG                CRISIL A4+    6      Reaffirmed
(Issuer Not Cooperating)
Garg Rice Mill - Pilibhit              BG                CRISIL A4+    0.5    Reaffirmed
(Issuer Not Cooperating)
Gujarat Pickers Industries Ltd         BG                CRISIL A4+    85     Reaffirmed
H Dipak and Co.                        Post Shipment     CRISIL A2+    3837.5 Reaffirmed
                                       Credit
H Dipak and Co.                        Proposed ST Bk    CRISIL A2+    250    Reaffirmed
                                       Loan Fac
H Dipak and Co.                        Standby Line of   CRISIL A2+    250    Reaffirmed
                                       Credit
Hyquip Systems Ltd                     BG                CRISIL A4     102    Reaffirmed
(Issuer Not Cooperating)
Immanuel and Co.                       BG                CRISIL A4+    57     Reaffirmed
(Issuer Not Cooperating)
J. B and Brothers Pvt Ltd            Pre Shipment Credit CRISIL A2+    4798   Reaffirmed
Jaipur Golden Transport Co Pvt Ltd     BG                CRISIL A3+    20     Reaffirmed
Jamnagar Utilities and Power Pvt Ltd   Non-FBL           CRISIL A1+    1000   Reaffirmed
Jamnagar Utilities and Power Pvt Ltd   Proposed NFBL     CRISIL A1+    3170   Reaffirmed
Jamnagar Utilities and Power Pvt Ltd   CP                CRISIL A1+    40000  Assigned
Jasani India Pvt Ltd                   Export Packing    CRISIL A2+    350    Reaffirmed
                                       Credit
Jasani India Pvt Ltd                   Foreign Exchange  CRISIL A2+    2.2    Reaffirmed
                                       Forward
Jasani India Pvt Ltd                   Post Shipment     CRISIL A2+    106    Reaffirmed
                                       Credit
Jhansi Concrete Products - Jhansi      BG                CRISIL A4     3      Reaffirmed
(Issuer Not Cooperating)
JMP Manufacturing Company              Packing Credit    CRISIL A4+    15     Reaffirmed
Kalpataru Power Transmission Ltd       FB Fac            CRISIL A1+    1500   Reaffirmed
Kalpataru Power Transmission Ltd       LOC & BG          CRISIL A1+    103190 Reaffirmed
Kalpataru Power Transmission Ltd       Proposed LOC & BG CRISIL A1+    10630  Assigned
Kalpataru Power Transmission Ltd       CP                CRISIL A1+    2500   Reaffirmed
Kapu Gems                              Post Shipment     CRISIL A2+    444.6  Reaffirmed
                                       Credit
Koshambh Multitred Pvt Ltd             Import LOC Limit  CRISIL A3+    100    Reaffirmed
KRS Polyfab                            BG                CRISIL A4+    8      Reaffirmed
KRS Polyfab                            LOC               CRISIL A4+    20     Reaffirmed
Lancosa Ceramic LLP                    BG                CRISIL A4     20     Reaffirmed
(Issuer Not Cooperating)
Lavis Signature Panel Pvt Ltd          BG                CRISIL A4+    10     Reaffirmed
Loknete Baburao Patil Agro Industries  ST Loan           CRISIL A4+    350    Reaffirmed
Ltd
(Issuer Not Cooperating)
M/s J. K. Star                         Foreign Exchange  CRISIL A3+    10     Reaffirmed
                                       Forward
Mahavishnu Cashew Factory              Overdraft         CRISIL A4     10     Reaffirmed
(Issuer Not Cooperating)
Mahavishnu Cashew Factory              Packing Credit    CRISIL A4     80     Reaffirmed
(Issuer Not Cooperating)
Manokamana Agrotech Pvt Ltd            BG                CRISIL A4     40     -
(ISSUER NOT COOPERATING; Revised from 'CRISIL A4+)
Mantora Oil Products Pvt Ltd           LOC               CRISIL A3+    600    Reaffirmed
Met-Rolla Steels Ltd                   LOC               CRISIL A3     445    Reaffirmed
Modern Glass Industries                BG                CRISIL A4     20.9   -
(Upgraded from 'CRISIL D')
Muthoottu Mini Financiers Ltd          Northern Arc 2019 CRISIL A1     -      -
                                       GL Aurum - Series
                                       A1 PTCs
(Converted from Provisional Rating to Final Rating/Continues on 'Rating Watch with Developing
Implications')
Naresh Exports                         Post Shipment     CRISIL A3     120    Reaffirmed
                                       Credit
Naresh Exports                         Proposed ST Bk    CRISIL A3     60     Reaffirmed
                                       Loan Fac
Narola Gems                            Post Shipment     CRISIL A3+    214.5  Reaffirmed
                                       Credit
Orissa Bengal Carrier Ltd              BG                CRISIL A3+    90     Reaffirmed
Piyush Infratech Pvt Ltd               BG                CRISIL A4+    300    Reaffirmed
(Issuer Not Cooperating)
Piyush Infratech Pvt Ltd               Proposed BG       CRISIL A4+    5      Reaffirmed
(Issuer Not Cooperating)
Prestige Feed Mills Ltd                BG                CRISIL A3     2.5    Reaffirmed
Prestige Feed Mills Ltd                LOC               CRISIL A3     11     Reaffirmed
R. S. Construction - Mumbai            BG                CRISIL A4     50     Reaffirmed
Rainbow Fabart Pvt Ltd                 Foreign Exchange  CRISIL A4+    15     -
                                       Forward
(Downgraded from 'CRISIL A3')
Rainbow Fabart Pvt Ltd                 LOC               CRISIL A4+    25     -
(Downgraded from 'CRISIL A3')
Rainbow Fabart Pvt Ltd                 Standby Line of   CRISIL A4+    30     -
                                       Credit
(Downgraded from 'CRISIL A3')
Royal Diam                           Pre Shipment Credit CRISIL A3     585    -
(Downgraded from 'CRISIL A3+')
Samrat Forgings Ltd                    BG                CRISIL A4+    15     Reaffirmed
Samrat Forgings Ltd                    LOC               CRISIL A4+    40     Reaffirmed
Sankalp Construction                   BG                CRISIL A3+    22.5   Withdrawn
(Rating Reaffirmed and Withdrawn)
Sankalp Construction                   Secured Overdraft CRISIL A3+    49.5   Withdrawn
                                       against term
                                       deposits
(Rating Reaffirmed and Withdrawn)
Satya Sai Agro Industries              BG                CRISIL A4     60     Reaffirmed
(Issuer Not Cooperating)
SDB Infrastructure Pvt Ltd             BG                CRISIL A4     300    Reaffirmed
(Issuer Not Cooperating)
SDB Infrastructure Pvt Ltd             Proposed ST Bk    CRISIL A4     20     Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Sejal Exports India                    Post Shipment     CRISIL A3     281    Reaffirmed
                                       Credit
Shantilal B. Patel                     BG                CRISIL A3+    950    Reaffirmed
Sharda Motor Industries Ltd            Sales Bill        CRISIL A1+    75     Assigned
                                       Discounting
Shinryo Suvidha Engineers India Pvt Ltd BG               CRISIL A3+    600    Reaffirmed
Shinryo Suvidha Engineers India Pvt Ltd Bill Discounting CRISIL A3+    70     Reaffirmed
Shree Lalji Energy Foods Pvt Ltd       BG                CRISIL A4+    70     Reaffirmed
(Issuer Not Cooperating)
Sikka Ports & Terminals Ltd            CP                CRISIL A1+    55000  Reaffirmed
SLN Coffee and Spices Exports Pvt Ltd  Packing Credit in CRISIL A4+    450    Assigned
                                       Foreign Currency
SLN Coffee and Spices Exports Pvt Ltd  Non-FBL           CRISIL A4+    20     Assigned
Srishti Apparels                       BG                CRISIL A4+    5.2    Reaffirmed
(Issuer Not Cooperating)
Srishti Apparels                       LOC               CRISIL A4+    18     Reaffirmed
(Issuer Not Cooperating)
Star Rays                              Export Packing    CRISIL A2     2625   Reaffirmed
                                       Credit
Star Rays                              Post Shipment     CRISIL A2     975    Reaffirmed
                                       Credit
Sunpower Cement Company Pvt Ltd        BG                CRISIL A4     28.9   -
(Migrated from 'CRISIL D ISSUER NOT COOPERATING')
Sunpower Cement Company Pvt Ltd        LOC               CRISIL A4     2.1    -
(Migrated from 'CRISIL D ISSUER NOT COOPERATING')
Tata Cleantech Capital Ltd             ST Bk Fac         CRISIL A1+    1000   Reaffirmed
Tata Cleantech Capital Ltd             CP                CRISIL A1+    20000  -

 
LONG TERM RATINGS:
-------------------
ADD Pens Pvt Ltd                       CC                CRISIL        35     Reaffirmed
                                                         BB+/Stable
(Issuer Not Cooperating)
ADD Pens Pvt Ltd                       Proposed LT Bk    CRISIL        22.5   Reaffirmed
                                       Loan Fac          BB+/Stable
(Issuer Not Cooperating)
Adihm Developers Pvt Ltd               Proposed TL       CRISIL        500    Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Aditya Aggregates                      CC                CRISIL        7.5    Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Aditya Aggregates                      Proposed BG       CRISIL        35     Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Aditya Aggregates                      Proposed LT Bk    CRISIL        92.5   Reaffirmed
                                       Loan Fac          B/Stable
(Issuer Not Cooperating)
Aditya Agri Machineries                Proposed FB Bk    CRISIL        50     Reaffirmed
                                       Limits            B/Stable
(Issuer Not Cooperating)
Alcobrew Distilleries India Pvt Ltd    Bill Discounting  CRISIL        170    Reaffirmed
                                                         BBB+/Negative
Alcobrew Distilleries India Pvt Ltd    CC*               CRISIL        1630   Reaffirmed
                                                         BBB+/Negative
(*Includes Rs 15 crore interchangeability with term loan)
Alcobrew Distilleries India Pvt Ltd    LT Loan           CRISIL        200    Reaffirmed
                                                         BBB+/Negative
Allied Electro Mechanicals Pvt Ltd     CC                CRISIL        6      Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Allied Electro Mechanicals Pvt Ltd     Proposed LT Bk    CRISIL        57     Reaffirmed
                                       Loan Fac          B+/Stable
(Issuer Not Cooperating)
Alpine Expo Tex Pvt Ltd                CC                CRISIL        200    Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Alpine Expo Tex Pvt Ltd                Proposed CC Limit CRISIL        50     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
American Feed                          CC                CRISIL        28.9   Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
American Feed                          Proposed CC Limit CRISIL        1.1    Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
American Feed Unit-II                  CC              CRISIL B/Stable 26.5   Reaffirmed
(Issuer Not Cooperating)
American Feed Unit-II                Proposed CC Limit CRISIL B/Stable 3.5    Reaffirmed
(Issuer Not Cooperating)
Anjali Kitchenware Pvt Ltd             CC                CRISIL        90     Reaffirmed
                                                         BB/Stable
Anjaninandan Premier Packaging Pvt Ltd CC                CRISIL        90     Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Annai Infra Developers Ltd             CC                CRISIL        608.2  -
                                                         B/Stable 
(Revised from 'CRISIL B-/Negative' to 'CRISIL D' and Simultaneously Upgraded to 'CRISIL
B/Stable')
Ashoka Distillers and Chemicals Pvt Ltd CC               CRISIL        130    Reaffirmed
                                                         BBB/Stable
Ashoka Distillers and Chemicals Pvt Ltd LT Loan          CRISIL        67.9   Reaffirmed
                                                         BBB/Stable
Ashoka Distillers and Chemicals Pvt Ltd Proposed LT Bk   CRISIL        332.1  Reaffirmed
                                       Loan Fac          BBB/Stable
B D Corporates Pvt Ltd                 CC                CRISIL        277    Reaffirmed
                                                         BB-/Stable
B D Corporates Pvt Ltd                 Proposed FB Bk    CRISIL        37.5   Reaffirmed
                                       Limits            BB-/Stable
Berry Alloys Ltd                       CC                CRISIL        300    Reaffirmed
                                                         BBB+/Stable
Berry Alloys Ltd                       Proposed LT Bk    CRISIL        210    Reaffirmed
                                       Loan Fac          BBB+/Stable
Bharat Heart and Super Speciality      LT Loan           CRISIL D      276.7  -
Hospitals
(Downgraded from 'CRISIL BB-/Stable')
Bhaskar Resources Pvt Ltd              CC                CRISIL        40     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Bhaskar Resources Pvt Ltd              LT Loan           CRISIL        36.5   Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
BLA Udyog Pvt Ltd                      CC                CRISIL        190    Reaffirmed
                                                         BB+/Stable
(Issuer Not Cooperating)
BLA Udyog Pvt Ltd                      Proposed LT Bk    CRISIL        10     Reaffirmed
                                       Loan Fac          BB+/Stable
(Issuer Not Cooperating)
Braza Tyres Pvt Ltd                    CC                CRISIL        75     -
                                                         B+/Stable
(Downgraded from 'CRISIL BB-/Stable')
Braza Tyres Pvt Ltd                    Standby Line of   CRISIL        10     -
                                       Credit            B+/Stable
(Downgraded from 'CRISIL BB-/Stable')
Braza Tyres Pvt Ltd                    TL                CRISIL        21.3   -
                                                         B+/Stable
(Downgraded from 'CRISIL BB-/Stable')
Capshare Impex Pvt Ltd                 CC                CRISIL        49.5   -
                                                         B-/Stable
(Migrated from 'CRISIL D ISSUER NOT COOPERATING')
Capshare Impex Pvt Ltd                 Proposed WC Fac   CRISIL        47.3   -
                                                         B-/Stable
(Migrated from 'CRISIL D ISSUER NOT COOPERATING')
CDE Asia Ltd                           CC                CRISIL        50     Reaffirmed
                                                         BBB+/Stable
Concept Pharmaceuticals Ltd            CC                CRISIL        145.8  Reaffirmed
                                                         BBB/Stable
Concept Pharmaceuticals Ltd            Foreign Currency  CRISIL        121.4  Reaffirmed
                                       Demand Loan       BBB/Stable
Concept Pharmaceuticals Ltd            Foreign Currency TCRISIL        222.8  Reaffirmed
                                                         BBB/Stable
Damodar Jagannath Malpani              CC                CRISIL        730    Reaffirmed
                                                         BBB+/Stable
Damodar Jagannath Malpani              Overdraft         CRISIL        300    Reaffirmed
                                                         BBB+/Stable
Damodar Jagannath Malpani              Proposed LT Bk    CRISIL        2970   Reaffirmed
                                       Loan Fac          BBB+/Stable
Dhanera Diamonds                       Export Packing    CRISIL        462.5  -
                                       Credit            BBB-/Negative
(Downgraded from 'CRISIL BBB/Stable')
Dhanera Diamonds                       Post Shipment     CRISIL        967.5  -
                                       Credit            BBB-/Negative
(Downgraded from 'CRISIL BBB/Stable')
Dhanera Diamonds                       Proposed LT Bk    CRISIL        100    -
                                       Loan Fac          BBB-/Negative
(Downgraded from 'CRISIL BBB/Stable')
Dr. Rajendra Prasad Educational Society Overdraft        CRISIL        40     -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB+/Stable)
Dr. Rajendra Prasad Educational Society TL               CRISIL        50     -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB+/Stable)
Drill Jig Bushing Co (Madras) Pvt Ltd  CC                CRISIL        29.5   Assigned
                                                         B/Stable
Drill Jig Bushing Co (Madras) Pvt Ltd  Mortgage Loan Fac CRISIL        47.5   Assigned
                                                         B/Stable
D-Vois Communications Pvt Ltd          CC                CRISIL        60     Reaffirmed
                                                         BBB-/Stable
D-Vois Communications Pvt Ltd          Proposed LT Bk    CRISIL        150    Reaffirmed
                                       Loan Fac          BBB-/Stable
D-Vois Communications Pvt Ltd          TL                CRISIL        348.1  -
                                                         BBB-/Stable
East Coast Distributors Pvt Ltd        CC                CRISIL        180    Reaffirmed
                                                         B+/Stable
East Coast Distributors Pvt Ltd        Proposed LT Bk    CRISIL        40     Reaffirmed
                                       Loan Fac          B+/Stable
Easternzone Industries Pvt Ltd         CC                CRISIL        70     Reaffirmed
                                                         BB+/Stable
(Issuer Not Cooperating)
Easternzone Industries Pvt Ltd         TL                CRISIL        29.5   Reaffirmed
                                                         BB+/Stable
(Issuer Not Cooperating)
Elegant Collection                     Export Packing    CRISIL        470    Reaffirmed
                                       Credit            A-/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Elegant Collection                     Proposed LT Bk    CRISIL        85     Reaffirmed
                                       Loan Fac          A-/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Elegant Collection                     Standby Line of   CRISIL        40     Reaffirmed
                                       Credit            A-/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Essar Power Hazira Ltd                 TL                CRISIL        9500   Assigned
                                                         BBB/Stable
Euroasia Trans Continental             Foreign Bill      CRISIL        75     Reaffirmed
                                       Purchase          BB-/Stable
(Issuer Not Cooperating)
Euroasia Trans Continental             Proposed WC Fac   CRISIL        20     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Eximpipes Pvt Ltd                      CC                CRISIL        130    Reaffirmed
                                                         BB-/Stable
Eximpipes Pvt Ltd                      LT Loan           CRISIL        20     Reaffirmed
                                                         BB-/Stable
Eximpipes Pvt Ltd                      Proposed LT Bk    CRISIL        79     Reaffirmed
                                       Loan Fac          BB-/Stable
Explicit Leathers                      Proposed FB Bk    CRISIL        35.5   Reaffirmed
                                       Limits            B/Stable
(Issuer Not Cooperating)
Exquisite Enterprises Pvt Ltd          CC                CRISIL        10     Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Flexi Plast Industries                 CC                CRISIL        35     Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Flexi Plast Industries                 LT Loan           CRISIL        20     Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Flexi Plast Industries                 Proposed LT Bk    CRISIL        5      Reaffirmed
                                       Loan Fac          B/Stable
(Issuer Not Cooperating)
Formokem India Corporation             Bill Purchase     CRISIL        20     Withdrawn
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB-/Stable'; Rating Withdrawn)
Formokem India Corporation             CC                CRISIL        30     Withdrawn
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB-/Stable'; Rating Withdrawn)
Formokem India Corporation             Export Packing    CRISIL        90     Withdrawn
                                       Credit            BB+/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB-/Stable'; Rating Withdrawn)
Formokem India Corporation             LOC               CRISIL        20     Withdrawn
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB-/Stable'; Rating Withdrawn)
Ganga Pulp and Papers Pvt Ltd          CC                CRISIL        50     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Ganga Pulp and Papers Pvt Ltd          LT Loan           CRISIL        115    Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Garg Agrifoods Pvt Ltd                 CC                CRISIL        250    Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Garg Agrifoods Pvt Ltd                 Proposed LT Bk    CRISIL        2      Reaffirmed
                                       Loan Fac          BB/Stable
(Issuer Not Cooperating)
Garg Agrifoods Pvt Ltd                 TL                CRISIL        42     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Garg Rice Industry                     CC                CRISIL        48     -
                                                         B+/Stable
(Migrated from 'CRISIL B/Stable ISSUER NOT COOPERATING')
Garg Rice Industry                     LT Loan           CRISIL        22.5   -
                                                         B+/Stable
(Migrated from 'CRISIL B/Stable ISSUER NOT COOPERATING')
Garg Rice Industry                     Proposed FB Bk    CRISIL        29.5   -
                                       Limits            B+/Stable
(Migrated from 'CRISIL B/Stable ISSUER NOT COOPERATING')
Garg Rice Mill - Pilibhit              CC                CRISIL        70     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Garg Rice Mill - Pilibhit              Proposed LT Bk    CRISIL        45.9   Reaffirmed
                                       Loan Fac          BB/Stable
(Issuer Not Cooperating)
Garg Rice Mill - Pilibhit              TL                CRISIL        3.6    Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Gujarat Pickers Industries Ltd         CC                CRISIL        85     Reaffirmed
                                                         BB/Stable
Gujarat Pickers Industries Ltd         Channel Financing CRISIL        415    Reaffirmed
                                                         BB/Stable
H Dipak and Co.                        Export Packing    CRISIL A-     1912.5 -
                                       Credit
Hi-Tech Satluj Motors Pvt Ltd          Inventory Funding CRISIL D      132.4  Reaffirmed
                                       Fac
(Issuer Not Cooperating)
Hi-Tech Satluj Motors Pvt Ltd          Overdraft         CRISIL D      67.6   Reaffirmed
(Issuer Not Cooperating)
Hyquip Systems Ltd                     CC                CRISIL C      86.6   Reaffirmed
(Issuer Not Cooperating)
Immanuel and Co.                       Overdraft         CRISIL        183    Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Indel Money Pvt Ltd                    VIVRITI BENJAMIN  Provisional   -      Assigned
                                       05 2020 - Series  CRISIL BBB-
                                       A1 PTCs
Independent Resources India Pvt Ltd    CC                CRISIL        20     Assigned
                                                         BB/Stable
Independent Resources India Pvt Ltd    Export Packing    CRISIL        146    Assigned
                                       Credit            BB/Stable
Independent Resources India Pvt Ltd    Proposed LT Bk    CRISIL        60     Assigned
                                       Loan Fac          BB/Stable
Independent Resources India Pvt Ltd    TL                CRISIL        4      Assigned
                                                         BB/Stable
J. B and Brothers Pvt Ltd              Post Shipment     CRISIL        1675   Reaffirmed
                                       Credit            A-/Stable
Jai Hind Public School                 TL                CRISIL        48     Reaffirmed
                                                         B-/Stable
(Issuer Not Cooperating)
Jaipur Golden Transport Co Pvt Ltd     CC                CRISIL        350    Reaffirmed
                                                         BBB/Negative
Jamnagar Utilities and Power Pvt Ltd   Corporate Credit  CCR AAA/Stable  -    -
                                       Rating
(Renewed & Reaffirmed)
Jamnagar Utilities and Power Pvt Ltd   External          CRISIL        19000  Reaffirmed
                                       Commercial        AAA/Stable
                                       Borrowings
Jamnagar Utilities and Power Pvt Ltd   NCD               CRISIL        20000  Reaffirmed
                                                         AAA/Stable
Jamnagar Utilities and Power Pvt Ltd   NCD               CRISIL        20000  Reaffirmed
                                                         AAA/Stable
Jamnagar Utilities and Power Pvt Ltd   NCD               CRISIL        13500  Reaffirmed
                                                         AAA/Stable
Jamnagar Utilities and Power Pvt Ltd   NCD               CRISIL        3750   Withdrawn
                                                         AAA/Stable
Jasani India Pvt Ltd                   Export Packing    CRISIL        2088.6 Reaffirmed
                                       Credit            A-/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Jasani India Pvt Ltd                   Post Shipment     CRISIL        1425.4 Reaffirmed
                                       Credit            A-/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Jasani India Pvt Ltd                   Proposed LT Bk    CRISIL        37.8   Reaffirmed
                                       Loan Fac          A-/Negative
Jhansi Concrete Products - Jhansi      CC                CRISIL        15     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Jhansi Concrete Products - Jhansi      LT Loan           CRISIL        10     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Jhansi Concrete Products - Jhansi      Proposed WC Fac   CRISIL        54     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Jhansi Concrete Products - Jhansi      TL                CRISIL        18     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
JMP Manufacturing Company              CC                CRISIL        47.5   Reaffirmed
                                                         BB-/Stable
Kalpataru Power Transmission Ltd       CC                CRISIL        9250   Reaffirmed
                                                         AA/Stable
Kalpataru Power Transmission Ltd       TL                CRISIL        2000   Assigned
                                                         AA/Stable
Kalpataru Power Transmission Ltd       NCD               CRISIL        3000   Reaffirmed
                                                         AA/Stable
Kapu Gems                              Export Packing    CRISIL        2555.4 Reaffirmed
                                       Credit            A-/Stable
Komal Fibres                           CC                CRISIL        70     Reaffirmed
                                                         BB+/Stable
Koshambh Multitred Pvt Ltd             Foreign Bill      CRISIL        450    Reaffirmed
                                       Purchase          BBB/Stable
Koshambh Multitred Pvt Ltd             LT Loan           CRISIL        199.5  Reaffirmed
                                                         BBB/Stable
Koshambh Multitred Pvt Ltd             Proposed LT Bk    CRISIL        139    Reaffirmed
                                       Loan Fac          BBB/Stable
KRS Polyfab                            CC                CRISIL        70     Reaffirmed
                                                         BB+/Stable
KRS Polyfab                            Proposed LT Bk    CRISIL        2      Reaffirmed
                                       Loan Fac          BB+/Stable
KRS Polyfab                            TL                CRISIL        50     Reaffirmed
                                                         BB+/Stable
Kusalava Finance Ltd                   CC                CRISIL        300    -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Rating migrated from CRISIL BB-/Stable)
Lancosa Ceramic LLP                    CC                CRISIL        45     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Lancosa Ceramic LLP                    LT Loan           CRISIL        134.5  Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Lavis Signature Panel Pvt Ltd          CC                CRISIL        100    Reaffirmed
                                                         BB/Stable
Laxmi Cottex                           CC                CRISIL        75     Reaffirmed
                                                         B+/Stable
Loknete Baburao Patil Agro Industries  Sugar Pledge CC   CRISIL        500    Reaffirmed
Ltd                                                      BB/Stable
(Issuer Not Cooperating)
Loknete Baburao Patil Agro Industries  TL                CRISIL        150    Reaffirmed
Ltd                                                      BB/Stable
(Issuer Not Cooperating)
Luthfa Foundation                      Proposed FB Bk    CRISIL        76     Reaffirmed
                                       Limits            B/Stable
Luthfa Foundation                      TL                CRISIL        49     Reaffirmed
                                                         B/Stable
M/s J. K. Star                         Post Shipment     CRISIL        150    Reaffirmed
                                       Credit            BBB/Stable
M/s J. K. Star                         Proposed LT Bk    CRISIL        40     Reaffirmed
                                       Loan Fac          BBB/Stable
Magic Mirror - Mumbai                  Loan Against      CRISIL        190    Reaffirmed
                                       Property          BB-/Stable
(Issuer Not Cooperating)
Mahavishnu Cashew Factory              Standby LOC       CRISIL        10     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Manokamana Agrotech Pvt Ltd            CC                CRISIL        50     -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB/Stable)
Mantora Oil Products Pvt Ltd           CC                CRISIL        400    Reaffirmed
                                                         BBB/Negative
Mantora Oil Products Pvt Ltd           Foreign LOC       CRISIL        300    Reaffirmed
                                                         BBB/Negative
Metaforge Engineering (India) Pvt Ltd  CC                CRISIL        100    Reaffirmed
                                                         BB+/Stable
Metaforge Engineering (India) Pvt Ltd  Foreign Currency  CRISIL        43.8   Reaffirmed
                                       Term Loan         BB+/Stable
Metaforge Engineering (India) Pvt Ltd  Rupee TL          CRISIL        51.2   Reaffirmed
                                                         BB+/Stable
Met-Rolla Steels Ltd                   CC                CRISIL        155    Reaffirmed
                                                         BBB-/Stable
Met-Rolla Steels Ltd                   Proposed LT Bk    CRISIL        7      Reaffirmed
                                       Loan Fac          BBB-/Stable
Micropet Containers Inc.               CC                CRISIL        130    -
                                                         BB+/Stable
Micropet Containers Inc.               LT Loan           CRISIL        200    -
                                                         BB+/Stable
Modern Glass Industries                CC                CRISIL        100    -
                                                         B-/Stable
(Upgraded from 'CRISIL D')
Modern Glass Industries                TL                CRISIL        129.1  -
                                                         B-/Stable
(Upgraded from 'CRISIL D')
Montage Enterprises Pvt Ltd            Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Nalwa Steel and Power Ltd              Corporate Credit  CCR           -      Assigned
                                       Rating            BBB-/Stable
Narola Gems                            Export Packing    CRISIL        206.5  Reaffirmed
                                       Credit            BBB/Stable
Nutech Polymers Pvt Ltd                CC                CRISIL        50     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Nutech Polymers Pvt Ltd                WC TL             CRISIL        10     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Onest Milk and Foods                   Proposed TL       CRISIL        100    Assigned
                                                         B+/Stable
Onest Milk and Foods                   Proposed WC Fac   CRISIL        10     Assigned
                                                         B+/Stable
Orissa Bengal Carrier Ltd              CC                CRISIL        240    Reaffirmed
                                                         BBB/Stable
Orissa Bengal Carrier Ltd              Overdraft         CRISIL        30     Assigned
                                                         BBB/Stable
Pandit Ambika Pratap Narayan Higher    Overdraft         CRISIL        55     Reaffirmed
Educational Shiksha Samiti                               BB-/Stable
(Issuer Not Cooperating)
Pandit Ambika Pratap Narayan Higher    Rupee TL          CRISIL        5.8    Reaffirmed
Educational Shiksha Samiti                               BB-/Stable
(Issuer Not Cooperating)
Piyush Infratech Pvt Ltd               CC                CRISIL        295    Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Plaza Wires Pvt Ltd                    CC                CRISIL        337    Reaffirmed
                                                         BBB-/Stable
Plaza Wires Pvt Ltd                    TL                CRISIL        13     Reaffirmed
                                                         BBB-/Stable
Prabhu Textiles                        Proposed LT Bk    CRISIL        22.8   Reaffirmed
                                       Loan Fac          BB-/Stable
(Issuer Not Cooperating)
Prabhu Textiles                        Proposed TL       CRISIL        27     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Prabhu Textiles                        TL                CRISIL        40.2   Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Precise Engineering Company            CC                CRISIL        20     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Precise Engineering Company            Proposed LT Bk    CRISIL        68.8   Reaffirmed
                                       Loan Fac          B+/Stable
(Issuer Not Cooperating)
Precise Engineering Company            Rupee TL          CRISIL        11.2   Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Predomix Technologies Pvt Ltd          Proposed LT Bk    CRISIL        100    Reaffirmed
                                       Loan Fac          B/Stable
Prestige Feed Mills Ltd                CC                CRISIL        900    Reaffirmed
                                                         BBB-/Stable
(Outlook revised from 'Negative' and rating reaffirmed)
Prestige Feed Mills Ltd                TL                CRISIL        80     Reaffirmed
                                                         BBB-/Stable
(Outlook revised from 'Negative' and rating reaffirmed)
R. S. Construction - Mumbai            CC              CRISIL B/Stable 10     Reaffirmed
R. S. Construction - Mumbai            Proposed LT Bk  CRISIL B/Stable 40     Reaffirmed
                                       Loan Fac
Rainbow Fabart Pvt Ltd                 CC                CRISIL        200    -
                                                         BB+/Negative
(Downgraded from 'CRISIL BBB-/Stable')
Rainbow Fabart Pvt Ltd                 Proposed LT Bk    CRISIL        1      -
                                       Loan Fac          BB+/Negative
(Downgraded from 'CRISIL BBB-/Stable')
Rainbow Fabart Pvt Ltd                 TL                CRISIL        29     -
                                                         BB+/Negative
(Downgraded from 'CRISIL BBB-/Stable')
Rakesh Credits Ltd                     Proposed LT Bk    CRISIL        85     Reaffirmed
                                       Loan Fac          B/Stable
(Issuer Not Cooperating)
Rakesh Credits Ltd                     NCD               CRISIL        50     -
                                                         B/Stable
(ISSUER NOT COOPERATING; Rating Migrated)
Royal Diam                             Post Shipment     CRISIL        150    -
                                       Credit            BBB-/Negative
(Downgraded from 'CRISIL BBB/Stable')
Sachdeva Home Furnishing Pvt Ltd       CC                CRISIL        80     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Sachdeva Home Furnishing Pvt Ltd       TL                CRISIL        22.6   Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Samrat Forgings Ltd                    Bill Discounting  CRISIL        10     Reaffirmed
                                                         BB-/Stable
Samrat Forgings Ltd                    CC                CRISIL        185    Reaffirmed
                                                         BB-/Stable
Samrat Forgings Ltd                    Proposed TL       CRISIL        16.4   Reaffirmed
                                                         BB-/Stable
Samrat Forgings Ltd                    Proposed WC Fac   CRISIL        30     Reaffirmed
                                                         BB-/Stable
Samrat Forgings Ltd                    TL                CRISIL        3.6    Reaffirmed
                                                         BB-/Stable
Samruddhi Realty Ltd                   NCD               CRISIL D      750    -
Sarama Steel Furniture                 CC                CRISIL        20     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Sarama Steel Furniture                 LT Loan           CRISIL        20     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Sarama Steel Furniture                 Proposed LT Bk    CRISIL        10     Reaffirmed
                                       Loan Fac          B+/Stable
(Issuer Not Cooperating)
Satya Sai Agro Industries              CC                CRISIL        30     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Satya Sai Agro Industries              LT Loan           CRISIL        10     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Sejal Exports India                    Export Packing    CRISIL        19     Reaffirmed
                                       Credit            BBB-/Stable
Shantilal B. Patel                     LT Loan           CRISIL        10.2   Reaffirmed
                                                         BBB/Stable
Shantilal B. Patel                     Proposed LT Bk    CRISIL        39.8   Reaffirmed
                                       Loan Fac          BBB/Stable
Sharda Motor Industries Ltd            WC Fac            CRISIL        1700   Assigned
                                                         AA-/Stable
Shinryo Suvidha Engineers India Pvt Ltd Proposed FB Bk   CRISIL        10     Assigned
                                       Limits            BBB/Stable
Shree Gurudatta Shikshan Sanstha       CC                CRISIL        40     -
                                                         BB/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
Shree Gurudatta Shikshan Sanstha       Rupee TL          CRISIL        40     -
                                                         BB/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
Shree Lalji Energy Foods Pvt Ltd       CC                CRISIL        80     Reaffirmed
                                                         BB+/Stable
(Issuer Not Cooperating)
Shree Prayosha Jewellers               CC                CRISIL        60     Reaffirmed
                                                         B/Stable
Shree Rajasvi Polyesters               CC                CRISIL        100    -
                                                         BB-/Stable
(Upgraded from 'CRISIL B+/Stable')
Shree Rajasvi Polyesters               Proposed LT Bk    CRISIL        102.1  -
                                       Loan Fac          BB-/Stable
(Upgraded from 'CRISIL B+/Stable')
Shreyans Creation Global Ltd           CC                CRISIL        250    Reaffirmed
                                                         BB+/Stable
(Issuer Not Cooperating)
Shubhi Devi Higher Education Shiksha   Overdraft         CRISIL        58.5   Reaffirmed
Samiti                                                   BB/Stable
(Issuer Not Cooperating)
Sikka Ports & Terminals Ltd            NCD               CRISIL        20000  Reaffirmed
                                                         AAA/Stable 
Sikka Ports & Terminals Ltd            NCD               CRISIL        20000  Reaffirmed
                                                         AAA/Stable 
Sikka Ports & Terminals Ltd            NCD               CRISIL        35000  Reaffirmed
                                                         AAA/Stable 
Sikka Ports & Terminals Ltd            NCD               CRISIL        25000  Reaffirmed
                                                         AAA/Stable 
Sikka Ports & Terminals Ltd            NCD               CRISIL        40000  Reaffirmed
                                                         AAA/Stable 
Sikka Ports & Terminals Ltd            NCD               CRISIL        75000  Reaffirmed
                                                         AAA/Stable 
SLN Coffee and Spices Exports Pvt Ltd  TL                CRISIL        80     Assigned
                                                         BB+/Stable
SLN Coffee and Spices Exports Pvt Ltd  CC/ Overdraft Fac CRISIL        350    Assigned
                                                         BB+/Stable
Sree Skandha Food Processing India Pvt CC                CRISIL        130    Reaffirmed
Ltd                                                      BB-/Stable
Sree Skandha Food Processing India Pvt Proposed LT Bk    CRISIL        34     Reaffirmed
Ltd                                    Loan Fac          BB-/Stable
Sree Skandha Food Processing India Pvt WC Demand Loan    CRISIL        26     Assigned
Ltd                                                      BB-/Stable
Sree Vasavi Trust                      CC                CRISIL        20     Reaffirmed
                                                         B/Stable
Sree Vasavi Trust                      LT Loan           CRISIL        80     Reaffirmed
                                                         B/Stable
Sri Durga Maruthi Automotives Pvt Ltd  CC                CRISIL        40     -
                                                         BB-/Stable
(Migrated from 'CRISIL BB-/Stable  ISSUER NOT COOPERATING')
Sri Durga Maruthi Automotives Pvt Ltd  Electronic Dealer CRISIL        103.5  -
                                       Financing         BB-/Stable
                                       Scheme(e-DFS)
(Migrated from 'CRISIL BB-/Stable  ISSUER NOT COOPERATING')
Sri Durga Maruthi Automotives Pvt Ltd  Proposed LT Bk    CRISIL        2.4    -
                                       Loan Fac          BB-/Stable
(Migrated from 'CRISIL BB-/Stable  ISSUER NOT COOPERATING')
Sri Durga Maruthi Automotives Pvt Ltd  TL                CRISIL        17.5   -
                                                         BB-/Stable
(Migrated from 'CRISIL BB-/Stable  ISSUER NOT COOPERATING')
Sri Varalakshmi Solvent Oils Pvt Ltd   CC                CRISIL        100    Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Sri Venkatadri Para Boiled Rice Mill   CC                CRISIL        330    Reaffirmed
                                                         BB/Stable
Sri Venkatadri Para Boiled Rice Mill   LT Loan           CRISIL        20     Reaffirmed
                                                         BB/Stable
Srijan Alloys And Steel Pvt Ltd        CC                CRISIL        18     Reaffirmed
                                                         B+/Stable
Srijan Alloys And Steel Pvt Ltd        TL                CRISIL        34     Reaffirmed
                                                         B+/Stable
Srinivas Papers Pvt Ltd                CC                CRISIL        400    Reaffirmed
                                                         BB-/Stable
Srishti Apparels                       CC                CRISIL        13     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Srishti Apparels                       Proposed WC Fac   CRISIL        11.4   Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Srishti Apparels                       TL                CRISIL        82.4   Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Sunpower Cement Company Pvt Ltd        CC                CRISIL        78.4   -
                                                         B-/Stable
(Migrated from 'CRISIL D ISSUER NOT COOPERATING')
Sunpower Cement Company Pvt Ltd        Proposed WC Fac   CRISIL        10.6   Assigned
                                                         B-/Stable
(Migrated from 'CRISIL D ISSUER NOT COOPERATING')
Surbhi Satcom Pvt Ltd                  CC                CRISIL        150    -
                                                         BB/Stable
(Downgraded from 'CRISIL BB+/Stable')
Surbhi Satcom Pvt Ltd                  LT Loan           CRISIL        70     -
                                                         BB/Stable
(Downgraded from 'CRISIL BB+/Stable')
Tata Cleantech Capital Ltd             Perpetual Bonds   CRISIL        2500   -
                                                         AA+/Stable
Tata Cleantech Capital Ltd           CC & WC demand loan CRISIL        17570  Reaffirmed
                                                         AAA/Stable
Tata Cleantech Capital Ltd             LT Bk Fac^        CRISIL        28570  Reaffirmed
                                                         AAA/Stable
(^Includes NABARD's loan of 100 Million USD equivalent INR)
Tata Cleantech Capital Ltd             Proposed LT Bk    CRISIL        2860   Reaffirmed
                                       Loan Fac          AAA/Stable
Tata Cleantech Capital Ltd             Subordinated Debt CRISIL        5000   -
                                                         AAA/Stable
Tata Cleantech Capital Ltd             Subordinated Debt CRISIL        1000   -
                                       Issue             AAA/Stable
Tata Cleantech Capital Ltd             Subordinated Debt CRISIL        1000   -
                                       Issue             AAA/Stable
Tata Cleantech Capital Ltd             Subordinated Debt CRISIL        1500   -
                                                         AAA/Stable
Tata Cleantech Capital Ltd             NCD               CRISIL        10000  -
                                                         AAA/Stable
Tata Cleantech Capital Ltd             NCD               CRISIL        1850   -
                                                         AAA/Stable
Tata Cleantech Capital Ltd             NCD#              CRISIL        2600   -
                                                         AAA/Stable
(#Green Debt Securities)
Tata Cleantech Capital Ltd             NCD#              CRISIL        11677  -
                                                         AAA/Stable
(#Green Debt Securities)
Tata Cleantech Capital Ltd             LT Principal      CRISIL PP-MLD 10000  -
                                       Protected Market  AAAr/Stable
                                       Linked Debentures 
Uttam Food Infrastructure Park Pvt Ltd Overdraft         CRISIL        20     Reaffirmed
                                                         BBB/Stable
Uttam Food Infrastructure Park Pvt Ltd Proposed FB Bk    CRISIL        49.5   Reaffirmed
                                       Limits            BBB/Stable
Uttam Food Infrastructure Park Pvt Ltd TL                CRISIL        80     Assigned
                                                         BBB/Stable
Walking Tree (India) Pvt Ltd           CC                CRISIL        1300   Reaffirmed
                                                         BBB/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Walking Tree (India) Pvt Ltd           Proposed CC Limit CRISIL        100    Reaffirmed
                                                         BBB/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

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

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

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