June 29, 2020 / 8:29 AM / 12 days ago

CRISIL ratings for Indian debt instruments-Jun 29

   Jun 29 - Below are the ratings awarded by Credit Rating Information Service of India (CRISIL)
for local debt instruments as of June 26, 2020 and June 27, 2020.


COMPANY                                INSTRUMENT        RATING        AMOUNT MOVEMENT
                                                                      (RS.MLN)
------                                 ----------        ------        -----  ---------
SHORT TERM RATINGS:
-------------------
ADG Agrotech Pvt Ltd                   BG                CRISIL A4+    1.1    Assigned
Afex Technologies Pvt Ltd              LOC               CRISIL A4     10     Reaffirmed
Ajay Industrial Corporation Ltd        Foreign Exchange  CRISIL A3+    15     Reaffirmed
                                       Forward
Ajay Industrial Corporation Ltd        LOC               CRISIL A3+    240    Reaffirmed
Amrfeo Pvt Ltd                         Bill Purchase     CRISIL A4+    53     Assigned
Axis Finance Ltd                       CP                CRISIL A1+    60000  Reaffirmed
Axis Finance Ltd                       CP Programme(IPO  CRISIL A1+    40000  Reaffirmed
                                       Financing)
Balmer Lawrie-Van Leer Ltd             LOC & BG          CRISIL A1     242    Assigned
C M Roy Construction Pvt Ltd           BG                CRISIL A4     20     Reaffirmed
(Migrated from 'CRISIL A4 ISSUER NOT COOPERATING')
C.C.Construction                       BG                CRISIL A4     40     -
(Issuer Not Cooperating)
Chakiat Agencies Pvt Ltd               Proposed ST Bk    CRISIL A2     95     Reaffirmed
                                       Loan Fac
D. Shanmugavel                         BG                CRISIL A4+    20     Withdrawn
(Rating Reaffirmed and Withdrawn)
D. Shanmugavel                         LT Loan           CRISIL A4+    8      Withdrawn
(Rating Reaffirmed and Withdrawn)
D. Shanmugavel                         Proposed BG       CRISIL A4+    30     Withdrawn
(Rating Reaffirmed and Withdrawn)
D. Shanmugavel                         Proposed LT Bk    CRISIL A4+    42     Withdrawn
                                       Loan Fac
(Rating Reaffirmed and Withdrawn)
D. Shanmugavel                        Proposed Overdraft CRISIL A4+    25     Withdrawn
                                       Fac
(Rating Reaffirmed and Withdrawn)
Effective Teleservices Pvt Ltd         Standby LOC       CRISIL A4+    450    Reaffirmed
Fine Fab Pvt Ltd                       LOC               CRISIL A4     20     Reaffirmed
(Issuer Not Cooperating)
G. Venkata Rao And Co.                 BG                CRISIL A4     40     Reaffirmed
(Issuer Not Cooperating)
G. Venkata Rao And Co.                 Proposed ST Bk    CRISIL A4     21     Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Gama Infraprop Pvt Ltd                 BG                CRISIL A4+    225.8  Assigned
Gama Infraprop Pvt Ltd                 Bill Discounting  CRISIL A4+    300    Assigned
                                       under LOC
Gama Infraprop Pvt Ltd                 LOC               CRISIL A4+    350    Assigned
Guhan Textile Mills Pvt Ltd            Foreign Exchange  CRISIL A4     1.5    Reaffirmed
                                       Forward
(Issuer Not Cooperating)
Guhan Textile Mills Pvt Ltd          Letter Of Guarantee CRISIL A4     1.3    Reaffirmed
(Issuer Not Cooperating)
Guhan Textile Mills Pvt Ltd            LOC               CRISIL A4     30     Reaffirmed
(Issuer Not Cooperating)
Habeeb Tanning Company                 Bill Discounting  CRISIL A3+    30     Reaffirmed
Habeeb Tanning Company                 LOC               CRISIL A3+    70     Reaffirmed
Habeeb Tanning Company                 Packing Credit    CRISIL A3+    10     Reaffirmed
Hexagon Constructions                  BG                CRISIL A4     20     Reaffirmed
(Issuer Not Cooperating)
Hindustan Concretes                    BG                CRISIL A4+    4      Reaffirmed
IIFL Finance Ltd                       CP                CRISIL A1+    5000   Reaffirmed
IIFL Finance Ltd                       CP^               CRISIL A1+    80000  Reaffirmed
(^Transferred from India Infoline Finance Ltd)
IIFL Finance Ltd                       CP Programme(IPO  CRISIL A1+    80000  Reaffirmed
                                       Financing)^
(^Transferred from India Infoline Finance Ltd)
IIFL Home Finance Ltd                  CP                CRISIL A1+    50000  Reaffirmed
Industrial Metal Corporation           BG                CRISIL A4+    15     Reaffirmed
Industrial Metal Corporation           LOC               CRISIL A4+    70     Reaffirmed
Jain Udyog                             BG                CRISIL A3+    35     Reaffirmed
Jara Infratech Ltd                     BG                CRISIL A4     25     Reaffirmed
(Issuer Not Cooperating)
Jara Infratech Ltd                     LOC               CRISIL A4     5      Reaffirmed
(Issuer Not Cooperating)
Jawahar Sahakari Soot Girni Ltd        BG                CRISIL A4     25     -
(Downgraded from 'CRISIL A4+')
KLJ Developers Pvt Ltd                 BG                CRISIL A3     300    Reaffirmed
Lakshmi Life Sciences Ltd              BG                CRISIL A2     10     Reaffirmed
Lakshmi Life Sciences Ltd              LOC               CRISIL A2     20     Reaffirmed
Loghorn Industries Pvt Ltd             LOC               CRISIL A4+    100    Reaffirmed
(Issuer Not Cooperating)
M/s. Sree Laxmi Constructions          BG                CRISIL A4+    60     Reaffirmed
Muthoot Finance Ltd                    CP                CRISIL A1+    50000  Reaffirmed
Nitco Logistics Pvt Ltd                BG                CRISIL A3+    10     Reaffirmed
Offshore Infrastructures Ltd           BG                CRISIL A1     16687  Reaffirmed
Pasa Resources Pvt Ltd                 BG                CRISIL A2     10     Reaffirmed
Prism Enterprises Pvt Ltd              BG                CRISIL A4+    21.4   Reaffirmed
Prism Jewellery                        Proposed ST Bk    CRISIL A4+    16     Reaffirmed
                                       Loan Fac
Rajalakshmi Spinners Pvt Ltd           BG                CRISIL A4+    11     Reaffirmed
(Issuer Not Cooperating)
Rare Rocks                             Foreign Exchange  CRISIL A4     4.5    Reaffirmed
                                       Forward
(Migrated from 'CRISIL A4 ISSUER NOT COOPERATING')
Rare Rocks                             LOC               CRISIL A4     10     Reaffirmed
(Migrated from 'CRISIL A4 ISSUER NOT COOPERATING')
Rare Rocks                             Packing Credit    CRISIL A4     30     Reaffirmed
(Migrated from 'CRISIL A4 ISSUER NOT COOPERATING')
Ravin Cables Ltd                       LOC & BG          CRISIL A3     1500   Reaffirmed
Regal Plywood Industries Pvt Ltd       LOC               CRISIL A4+    60     Reaffirmed
(Issuer Not Cooperating)
Rohit Automobiles - Ara                Vendor Financing  CRISIL A4+    45     Reaffirmed
(Issuer Not Cooperating)
Royal Plywood Industries               LOC               CRISIL A4+    80     Reaffirmed
(Issuer Not Cooperating)
RRAS Traders And Exports Pvt Ltd     Pre Shipment Credit CRISIL A4     20     Reaffirmed
(Issuer Not Cooperating)
S R C Infra Pvt Ltd                    Proposed BG       CRISIL A4+    124    Reaffirmed
(Issuer Not Cooperating)
S. Pushp Steel Structural Trading      LOC               CRISIL A4     7      Reaffirmed
Company
(Issuer Not Cooperating)
Sai Teja Coating Pvt Ltd               Proposed ST Bk    CRISIL A4     50     Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Samasta Microfinance Ltd               CP                CRISIL A1+    5000   Reaffirmed
Samasta Microfinance Ltd               CP                CRISIL A1+    5000   Reaffirmed
Samasta Microfinance Ltd               CP                CRISIL A1+    5000   Reaffirmed
Samasta Microfinance Ltd               CP                CRISIL A1+    5000
Samasta Microfinance Ltd               CP                CRISIL A1+    5000   Reaffirmed
Samasta Microfinance Ltd               CP                CRISIL A1+    5000   Reaffirmed
Sapphire Papers Mill Pvt Ltd           BG                CRISIL A4+    20     Reaffirmed
(Issuer Not Cooperating)
Schnell Energy Equipments Pvt Ltd      BG                CRISIL A4+    46.5   Reaffirmed
(Issuer Not Cooperating)
Schnell Energy Equipments Pvt Ltd      Bill Discounting  CRISIL A4+    10     Reaffirmed
(Issuer Not Cooperating)
Seaward Exports Pvt Ltd                Proposed ST Bk    CRISIL A4+    5      Assigned
                                       Loan Fac
Security Printing and Minting          LOC*              CRISIL A1+    2000   Reaffirmed
Corporation of India Ltd
(* Includes sublimit of bank guarantee of Rs5 crore;)
Security Printing and Minting          LOC               CRISIL A1+    1000   Reaffirmed
Corporation of India Ltd
Security Printing and Minting          LOC & BG          CRISIL A1+    3500   Reaffirmed
Corporation of India Ltd
Shree Shakti Construction              BG                CRISIL A4+    20     Reaffirmed
(Issuer Not Cooperating)
Siddhartha Engineering Ltd             BG                CRISIL A4+    1087.5 Reaffirmed
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING)
Siddhartha Engineering Ltd             LOC               CRISIL A4+    150    Reaffirmed
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING)
Sri Kangeyaa Textiles Pvt Ltd          BG                CRISIL A4+    5      Reaffirmed
Sri Venkatesh Granites Pvt Ltd         Foreign           CRISIL A4+    30     Reaffirmed
                                       Discounting Bill
                                       Purchase
(Issuer Not Cooperating)
Sri Venkatesh Granites Pvt Ltd         Packing Credit    CRISIL A4+    90     Reaffirmed
(Issuer Not Cooperating)
Sri Venkateswara Rice Mill -Palakol    BG                CRISIL A4     40     Reaffirmed
(Issuer Not Cooperating)
St. Pauls Cashew Factory               Bill Purchase     CRISIL A4+    72.5   Reaffirmed
(Issuer Not Cooperating)
St. Pauls Cashew Factory               Packing Credit    CRISIL A4+    270    Reaffirmed
(Issuer Not Cooperating)
St. Pauls Cashew Factory               Standby Export    CRISIL A4+    107.5  Reaffirmed
                                       Packing Credit
(Issuer Not Cooperating)
Steel Products Ltd                     BG                CRISIL A4     100    Reaffirmed
(Issuer Not Cooperating)
Steel Products Ltd                     LOC               CRISIL A4     11.5   Reaffirmed
(Issuer Not Cooperating)
Stone Wonders India Ltd                BG                CRISIL A4     5      Reaffirmed
(Issuer Not Cooperating)
Stone Wonders India Ltd                Export Packing    CRISIL A4     15     Reaffirmed
                                       Credit
(Issuer Not Cooperating)
Stone Wonders India Ltd                LOC               CRISIL A4     5      Reaffirmed
(Issuer Not Cooperating)
Sunny International Ltd                Proposed NFBL     CRISIL A3+    20     Reaffirmed
Suolificio Linea Italia India Pvt Ltd  LOC               CRISIL A4+    30     -
(Downgraded from 'CRISIL A3')
Suolificio Linea Italia India Pvt Ltd  LOC Bill          CRISIL A4+    10     -
                                       Discounting
(Downgraded from 'CRISIL A3')
Swarna Constructions                   BG                CRISIL A4     95     Reaffirmed
(Issuer Not Cooperating)
Tata Motors Finance Ltd                CP                CRISIL A1+    80000  Reaffirmed
(Enhanced from Rs.7000 Crore) 
Technocast Foundry                     Inland/Import LOC CRISIL A4+    30     Reaffirmed
(Issuer Not Cooperating)
Thames Steels Pvt Ltd                  BG                CRISIL A4+    20     Reaffirmed
(Issuer Not Cooperating)
The United Engineers                   Proposed BG       CRISIL A4     60     Reaffirmed
(Issuer Not Cooperating)
Utility Projects and Services Pvt Ltd  BG                CRISIL A4+    42.5   Reaffirmed
(Issuer Not Cooperating)
Varun Foods Processing Pvt Ltd         BG                CRISIL A4+    1.5    Reaffirmed
(Issuer Not Cooperating)
Venkat Sai Motors                      BG                CRISIL A4+    30     Reaffirmed
(Issuer Not Cooperating)
Venkat Sai Motors                      Proposed ST Bk    CRISIL A4+    35     Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Vijayalakshmi Rice Mill                BG                CRISIL A4+    67.5   Reaffirmed
(Issuer Not Cooperating)
Vishakha Irrigation Pvt Ltd            BG                CRISIL A4     20     Reaffirmed
(Issuer Not Cooperating)
Vishakha Irrigation Pvt Ltd            LOC               CRISIL A4     120    Reaffirmed
(Issuer Not Cooperating)
VNR Constructions                      BG                CRISIL A4+    45     Reaffirmed
(Issuer Not Cooperating)



LONG TERM RATINGS:
-------------------
ADG Agrotech Pvt Ltd                   TL                CRISIL        8      Assigned
                                                         BB-/Stable
ADG Agrotech Pvt Ltd                   CC                CRISIL        50     Assigned
                                                         BB-/Stable
Afex Technologies Pvt Ltd              CC/ Overdraft Fac CRISIL        22.5   Reaffirmed
                                                         B+/Stable
Afex Technologies Pvt Ltd              LT Loan           CRISIL        143.2  Reaffirmed
                                                         B+/Stable
Ajay Industrial Corporation Ltd        CC                CRISIL        516    Reaffirmed
                                                         BBB/Stable
Amrfeo Pvt Ltd                         TL                CRISIL        15.3   Assigned
                                                         BB-/Stable
Amrfeo Pvt Ltd                         Proposed LT Bk    CRISIL        21.7   Assigned
                                       Loan Fac          BB-/Stable
Amrfeo Pvt Ltd                         CC                CRISIL        10     Assigned
                                                         BB-/Stable
Annapurna Finance Pvt Ltd              LT Bk Fac         CRISIL        10879.1Reaffirmed
                                                         A-/Stable
Annapurna Finance Pvt Ltd              Proposed LT Bk    CRISIL        120.9  Reaffirmed
                                       Loan Fac          A-/Stable
Annapurna Finance Pvt Ltd              NCD               CRISIL        1000   Reaffirmed
                                                         A-/Stable
Annapurna Finance Pvt Ltd              NCD               CRISIL        1000   Reaffirmed
                                                         A-/Stable
Annapurna Finance Pvt Ltd              NCD               CRISIL        730    Reaffirmed
                                                         A-/Stable
Annapurna Finance Pvt Ltd              NCD               CRISIL        700    Reaffirmed
                                                         A-/Stable
Annapurna Finance Pvt Ltd              NCD               CRISIL        400    Reaffirmed
                                                         A-/Stable
Annapurna Finance Pvt Ltd              NCD               CRISIL        300    Reaffirmed
                                                         A-/Stable
Annapurna Finance Pvt Ltd              NCD               CRISIL        1000   Reaffirmed
                                                         A-/Stable
Annapurna Finance Pvt Ltd              NCD               CRISIL        1460   Reaffirmed
                                                         A-/Stable
Avadh Infrastructure Pvt Ltd           CC                CRISIL        250    Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Axis Finance Ltd                       NCD               CRISIL        20000  Assigned
                                                         AAA/Stable
Axis Finance Ltd                       NCD               CRISIL        40000  Reaffirmed
                                                         AAA/Stable
Axis Finance Ltd                       Subordinated Debt CRISIL        8000   Reaffirmed
                                                         AAA/Stable
Balmer Lawrie-Van Leer Ltd             TL              CRISIL A/Stable 78     Assigned
Balmer Lawrie-Van Leer Ltd             CC              CRISIL A/Stable 930    Assigned
Bava Infrastructure Developers Pvt Ltd CC                CRISIL        110    Assigned
                                                         B/Stable
Boond Engineering And Development Pvt  LT Loan           CRISIL        6      -
Ltd                                                      B/Stable
(Migrated from 'CRISIL B+/Stable ISSUER NOT COOPERATING')
Boond Engineering And Development Pvt  Proposed FB Bk    CRISIL        84     -
Ltd                                    Limits            B/Stable
(Migrated from 'CRISIL B+/Stable ISSUER NOT COOPERATING')
C M Roy Construction Pvt Ltd           CC                CRISIL        80     Reaffirmed
                                                         B/Stable
(Migrated from 'CRISIL B/Stable ISSUER NOT COOPERATING')
C.C.Construction                       CC                CRISIL        35     -
                                                         B+/Stable
(Issuer Not Cooperating)
Chakiat Agencies Pvt Ltd               CC                CRISIL        50     Reaffirmed
                                                         BBB+/Stable
Chakiat Agencies Pvt Ltd               LT Loan           CRISIL        55     Reaffirmed
                                                         BBB+/Stable
Clean Wind Power (Manvi) Pvt Ltd       LT Loan           CRISIL        3712   Assigned
                                                         A/Negative
Clean Wind Power (Ratlam) Pvt Ltd      WC TL             CRISIL        150    Assigned
                                                         A/Negative
Clean Wind Power (Ratlam) Pvt Ltd      WC Fac            CRISIL        150    Assigned
                                                         A/Negative
Clean Wind Power (Ratlam) Pvt Ltd      LT Loan           CRISIL        5078.7 Assigned
                                                         A/Negative
Clean Wind Power (Ratlam) Pvt Ltd      Proposed LT Bk    CRISIL        1.3    Assigned
                                       Loan Fac          A/Negative
D. Shanmugavel                         Overdraft                       25     Withdrawn
Effective Teleservices Pvt Ltd         Overdraft         CRISIL        434.4  Reaffirmed
                                                         BB+/Stable
Fine Fab Pvt Ltd                       Proposed LT Bk    CRISIL        17     Reaffirmed
                                       Loan Fac          B/Stable
(Issuer Not Cooperating)
Fine Fab Pvt Ltd                       Secured Overdraft CRISIL        30     Reaffirmed
                                       Fac               B/Stable
(Issuer Not Cooperating)
G. Venkata Rao And Co.                 CC                CRISIL        29     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Gama Infraprop Pvt Ltd                 CC                CRISIL        300    Assigned
                                                         BB-/Stable
Gama Infraprop Pvt Ltd                 TL                CRISIL        2829.9 Assigned
                                                         BB-/Stable
Gama Infraprop Pvt Ltd                 Proposed LT Bk    CRISIL        2744.3 Assigned
                                       Loan Fac*         BB-/Stable
(*Includes unsustainable portion of debt consisting of preference shares as per S4A scheme)
Grandcity Hospitality Pvt Ltd          Proposed LT Bk    CRISIL D      27     Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Grandcity Hospitality Pvt Ltd          TL                CRISIL D      123    Reaffirmed
(Issuer Not Cooperating)
Guhan Textile Mills Pvt Ltd            Open CC           CRISIL        140    Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Guhan Textile Mills Pvt Ltd            TL                CRISIL        7.2    Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Habeeb Tanning Company                 Proposed LT Bk    CRISIL        5      Reaffirmed
                                       Loan Fac          BBB/Stable
Hexagon Constructions                  Secured Overdraft CRISIL        40     Reaffirmed
                                       Fac               B/Stable
(Issuer Not Cooperating)
Hindustan Concretes                    CC                CRISIL        75     Reaffirmed
                                                         BB/Stable
Hi-Tech Pipes Ltd.                     Rating Advisory   -             -      -
(CRISIL vide its publication dated May 29, 2020 highlighted the aspect of non-co-operation by
Hi-Tech Pipes Limited.)
IIFL Finance Ltd                       Proposed LT Bk    CRISIL        20000  Reaffirmed
                                       Loan Fac          AA/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
IIFL Finance Ltd                       NCD*              CRISIL        50000  Assigned
                                                         AA/Negative
(*Interchangeable between secured and subordinated debt)
IIFL Finance Ltd                       NCD^              CRISIL        3250   Reaffirmed
                                                         AA/Negative
((Outlook revised from 'Stable' and rating reaffirmed).
^Transferred from India Infoline Finance Ltd)
IIFL Finance Ltd                       NCD^*             CRISIL        25000  -
                                                         AA/Negative
((Outlook revised from 'Stable' and rating reaffirmed). (Reduced from Rs.5000 Crore) 
^Transferred from India Infoline Finance Ltd
*Interchangeable between secured and subordinated debt.) 
IIFL Finance Ltd                      Subordinated Debt^ CRISIL        4983.7 Reaffirmed
                                                         AA/Negative
((Outlook revised from 'Stable' and rating reaffirmed). 
^Transferred from India Infoline Finance Ltd)
IIFL Finance Ltd                       LT Principal      CRISIL PP-MLD 15000  Reaffirmed
                                       Protected Market  AAr/Negative
                                       Linked Debentures^
((Outlook revised from 'Stable' and rating reaffirmed). 
^Transferred from India Infoline Finance Ltd)
IIFL Home Finance Ltd                  CC                CRISIL        250    Reaffirmed
                                                         AA/Negative
IIFL Home Finance Ltd                  External          CRISIL        3630.8 Reaffirmed
                                       Commercial        AA/Negative
                                       Borrowings#
(#Equivalent to USD 50 Million)
IIFL Home Finance Ltd                  Proposed LT Bk    CRISIL        3756.1 Reaffirmed
                                       Loan Fac          AA/Negative
IIFL Home Finance Ltd                  TL                CRISIL        37363.1Reaffirmed
                                                         AA/Negative
IIFL Home Finance Ltd                  NCD               CRISIL        10000  Reaffirmed
                                                         AA/Negative
IIFL Home Finance Ltd                  NCD               CRISIL        10000  Reaffirmed
                                                         AA/Negative
IIFL Home Finance Ltd                  NCD               CRISIL        2000   Reaffirmed
                                                         AA/Negative
IIFL Home Finance Ltd                  NCD               CRISIL        500    Reaffirmed
                                                         AA/Negative
IIFL Home Finance Ltd                  NCD               CRISIL        5000   Reaffirmed
                                                         AA/Negative
IIFL Home Finance Ltd                  Subordinated Debt CRISIL        2000   Reaffirmed
                                                         AA/Negative
IIFL Home Finance Ltd                  Principal         CRISIL PP-MLD 2000   Reaffirmed
                                       Protected Market  AAr/Negative
                                       Linked Non-Convertible Subordinated Debentures
IIFL Home Finance Ltd                  LT Principal      CRISIL PP-MLD 3000   Reaffirmed
                                       Protected Market  AAr/Negative
                                       Linked Debentures
Independent Resources India Pvt Ltd    CC                -             30     Withdrawn
(Issuer Not Cooperating)
Independent Resources India Pvt Ltd    Export Packing    -             100    Withdrawn
                                       Credit
(Issuer Not Cooperating)
Independent Resources India Pvt Ltd    Proposed LT Bk    -             70     Withdrawn
                                       Loan Fac
(Issuer Not Cooperating)
Industrial Metal Corporation           CC                CRISIL        30     Reaffirmed
                                                         BB/Stable
Industrial Metal Corporation           Proposed LT Bk    CRISIL        30     Reaffirmed
                                       Loan Fac          BB/Stable
Jain Udyog                             CC                CRISIL        260    Reaffirmed
                                                         BBB/Stable
Jain Udyog                             Electronic Dealer CRISIL        80     Reaffirmed
                                       Financing         BBB/Stable
                                       Scheme(e-DFS)
Jara Infratech Ltd                     CC                CRISIL        10     Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Jara Infratech Ltd                     Proposed CC Limit CRISIL        80     Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Jawahar Sahakari Soot Girni Ltd        CC                CRISIL        90     -
                                                         B+/Stable
(Downgraded from 'CRISIL BB-/Stable')
Jawahar Sahakari Soot Girni Ltd        TL                CRISIL        235    -
                                                         B+/Stable
(Downgraded from 'CRISIL BB-/Stable')
JKM Infra Works LLP                    Rating Advisory   -             -      -
(CRISIL vide its publication dated May 29, 2020 highlighted the aspect of non-co-operation by
JKM Infra Works LLP.)
Jose Brothers Gold Super Market        CC                CRISIL        100    -
                                                         B/Stable
(Downgraded from 'CRISIL B+/Stable')
Joy Coffee Curing Works                Secured Overdraft CRISIL        130    Reaffirmed
                                       Fac               B+/Stable
KDP Infrastructure Pvt Ltd             Overdraft         CRISIL        250    -
                                                         B+/Stable
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB-/Stable)
KLJ Developers Pvt Ltd                 Proposed LT Bk    CRISIL        170    Reaffirmed
                                       Loan Fac          BBB-/Stable
KLJ Developers Pvt Ltd                 TL                CRISIL        300    Assigned
                                                         BBB-/Stable
KLJ Realtech Pvt Ltd                   TL                CRISIL        450    Reaffirmed
                                                         BBB-/Stable
Lakshmi Life Sciences Ltd              Bill Discounting  CRISIL        10     Reaffirmed
                                                         BBB+/Stable
Lakshmi Life Sciences Ltd              CC                CRISIL        60     Reaffirmed
                                                         BBB+/Stable
Lakshmi Life Sciences Ltd              TL                CRISIL        35     Reaffirmed
                                                         BBB+/Stable
Leotronic Scales Pvt Ltd.              Rating Advisory   -             -      -
(CRISIL vide its publication dated May 29, 2020 highlighted the aspect of non-co-operation by
Leotronic Scales Private Limited.)
Lincoln Parenteral Ltd                 LOC               CRISIL        15     Withdrawn
                                                         A-/Stable
Lincoln Parenteral Ltd                 Proposed LT Bk    CRISIL        168.2  Withdrawn
                                       Loan Fac          A-/Stable
Loghorn Industries Pvt Ltd             CC                CRISIL        30     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Loghorn Industries Pvt Ltd             Proposed LT Bk    CRISIL        20     Reaffirmed
                                       Loan Fac          BB-/Stable
(Issuer Not Cooperating)
M. R. Dairy Products Pvt Ltd           CC                CRISIL        515    Reaffirmed
                                                         BBB-/Stable
M/s. Sree Laxmi Constructions          Overdraft         CRISIL        40     Reaffirmed
                                                         BB-/Stable
Manchester Textile Pvt Ltd             CC                CRISIL        150    Assigned
                                                         BB+/Stable
Manchester Textile Pvt Ltd             TL                CRISIL        60     Assigned
                                                         BB+/Stable
Mindspace Business Parks REIT          Corporate Credit  Provisional   -      Assigned
(Mindspace REIT)                       Rating            CCR AAA/Stable^
(^A prefix of 'Provisional' indicates that the rating centrally factors in the strength of
specific structures, and will be supported by certain critical documentation by the issuer,
without which the rating would either have been different or not assigned ab initio. This is in
compliance with directive issued by the Securities and Exchange Board of India (SEBI) on May 6,
2015, on 'Standardising the term, rating symbol, and manner of disclosure with regard to
conditional/provisional/in-principle ratings assigned by credit rating agencies (CRAs)'.) 
Moga Medicity Pvt Ltd                  CC                CRISIL        10     Assigned
                                                         BB/Stable
Moga Medicity Pvt Ltd                  TL                CRISIL        140    Assigned
                                                         BB/Stable
Muthoot Finance Ltd                    NCD               CRISIL        20000  Assigned
                                                         AA/Positive
Muthoot Finance Ltd                    Subordinated Debt CRISIL        2002.8 Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    NCD               CRISIL        20000  Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    NCD               CRISIL        40000  Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    NCD               CRISIL        4110   Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    NCD               CRISIL        15000  Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    NCD               CRISIL        19500  Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    NCD               CRISIL        13000  Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    NCD               CRISIL        3652.7 Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    NCD               CRISIL        37.8   Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    NCD               CRISIL        39.2   Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    NCD               CRISIL        51.8   Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    NCD               CRISIL        926.2  Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    NCD               CRISIL        5000   Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    Subordinate Bond  CRISIL        437.571Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    Subordinate Bond  CRISIL        232.879Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    Subordinate Bond  CRISIL        209.3  Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    Subordinate Bond  CRISIL        100    Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    Subordinate Bond  CRISIL        187.2  Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    Subordinate Bond  CRISIL        317.8  Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    Subordinate Bond  CRISIL        230.392Reaffirmed
                                                         AA/Positive
Muthoot Finance Ltd                    LT Principal      CRISIL PP-MLD 1000   Reaffirmed
                                       Protected Market  AAr/Positive
                                       Linked Debentures
Muthoot Finance Ltd                    LT Principal      CRISIL PP-MLD 1500   Reaffirmed
                                       Protected Market  AAr/Positive
                                       Linked Debentures
Nambiar Builders Pvt Ltd               Rating Advisory   -             -      -
(CRISIL vide its publication dated May 29, 2020 highlighted the aspect of non-co-operation by
Nambiar Builders Private Limited.)
Nitco Logistics Pvt Ltd                CC                CRISIL        180    Reaffirmed
                                                         BBB/Stable
Nitco Logistics Pvt Ltd                TL                CRISIL        20     Reaffirmed
                                                         BBB/Stable
Offshore Infrastructures Ltd           CC                CRISIL        550    Reaffirmed
                                                         A/Stable
Offshore Infrastructures Ltd           Proposed BG       CRISIL        313    Reaffirmed
                                                         A/Stable
Offshore Infrastructures Ltd           Proposed CC Limit CRISIL        450    Reaffirmed
                                                         A/Stable
Pasa Associates Pvt Ltd                Electronic Dealer CRISIL        100    Reaffirmed
                                       Financing         BBB+/Stable
                                       Scheme(e-DFS)
Pasa Resources Pvt Ltd                 CC                CRISIL        200    Reaffirmed
                                                         BBB+/Stable
Pasa Resources Pvt Ltd                 Electronic Dealer CRISIL        100    Reaffirmed
                                       Financing         BBB+/Stable
                                       Scheme(e-DFS)
Pasa Resources Pvt Ltd                 Proposed LT Bk    CRISIL        25     Reaffirmed
                                       Loan Fac          BBB+/Stable
Prism Enterprises Pvt Ltd              CC                CRISIL        1020   Reaffirmed
                                                         BB/Stable
Prism Enterprises Pvt Ltd              Proposed LT Bk    CRISIL        58.6   Reaffirmed
                                       Loan Fac          BB/Stable
Prism Jewellery                        CC                CRISIL        134    Reaffirmed
                                                         BB/Stable
R R Enterprises - Hyderabad            Proposed LT Bk  CRISIL B/Stable 160    Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
R. J. Cylinder Industries              CC/ Overdraft Fac CRISIL        39.7   -
                                                         B+/Stable
(Downgraded from 'CRISIL BB-/Stable')
R. J. Cylinder Industries              LT Loan           CRISIL        77.2   -
                                                         B+/Stable
(Downgraded from 'CRISIL BB-/Stable')
R.D. Brothers                          CC                CRISIL        110    Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
R.D. Brothers                          LT Loan           CRISIL        20     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
R.D. Brothers                          Proposed CC Limit CRISIL        20     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Radhesh Plastics India Pvt Ltd         CC                CRISIL        27     Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Radhesh Plastics India Pvt Ltd         TL                CRISIL        20.8   Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Rainbow Tractors                       CC                CRISIL        20     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Rainbow Tractors                       LT Loan           CRISIL        15     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Rajalakshmi Spinners Pvt Ltd           CC                CRISIL        140    Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Rajalakshmi Spinners Pvt Ltd           LT Loan           CRISIL        61.7   Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Rajalakshmi Spinners Pvt Ltd           Proposed LT Bk    CRISIL        12.4   Reaffirmed
                                       Loan Fac          BB-/Stable
(Issuer Not Cooperating)
Rajhans Infratech Pvt Ltd              TL                CRISIL D      160    Reaffirmed
(Issuer Not Cooperating)
Rare Rocks                             CC                CRISIL        27.5   Reaffirmed
                                                         B+/Stable
(Migrated from 'CRISIL B+/Stable ISSUER NOT COOPERATING')
Rare Rocks                             Proposed LT Bk    CRISIL        3.5    Reaffirmed
                                       Loan Fac          B+/Stable
(Migrated from 'CRISIL B+/Stable ISSUER NOT COOPERATING')
Rare Rocks                             Rupee TL          CRISIL        24.5   Reaffirmed
                                                         B+/Stable
(Migrated from 'CRISIL B+/Stable ISSUER NOT COOPERATING')
Rasapoorna Foods Pvt Ltd               Overdraft         CRISIL        35     Assigned
                                                         B/Stable
Rasapoorna Foods Pvt Ltd               Proposed LT Bk    CRISIL        85     Assigned
                                       Loan Fac          B/Stable
Ravin Cables Ltd                       CC                CRISIL        715    Reaffirmed
                                                         BBB-/Stable
Ravin Cables Ltd                       Proposed FB Bk    CRISIL        285    Reaffirmed
                                       Limits            BBB-/Stable
Regal Plywood Industries Pvt Ltd       CC                CRISIL        20     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Regal Plywood Industries Pvt Ltd       Proposed LT Bk    CRISIL        80     Reaffirmed
                                       Loan Fac          BB-/Stable
(Issuer Not Cooperating)
Rohit Automobiles - Ara                CC                CRISIL        95     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Rohit Automobiles - Ara                TL                CRISIL        10     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Royal Import and Export                CC                CRISIL        16.5   Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Royal Import and Export                Export Packing    CRISIL        10     Reaffirmed
                                       Credit            BB/Stable
(Issuer Not Cooperating)
Royal Import and Export                Proposed LT Bk    CRISIL        28.5   Reaffirmed
                                       Loan Fac          BB/Stable
(Issuer Not Cooperating)
Royal Import and Export                TL                CRISIL        15     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Royal Plywood Industries               CC                CRISIL        20     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Royal Plywood Industries               Proposed LT Bk    CRISIL        40     Reaffirmed
                                       Loan Fac          BB-/Stable
(Issuer Not Cooperating)
RRAS Traders And Exports Pvt Ltd       CC                CRISIL        5      Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
RRAS Traders And Exports Pvt Ltd       Proposed LT Bk    CRISIL        25     Reaffirmed
                                       Loan Fac          B+/Stable
(Issuer Not Cooperating)
S Homes                                Proposed LT Bk    CRISIL D      2      Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
S Homes                                TL                CRISIL D      98     Reaffirmed
(Issuer Not Cooperating)
S R C Infra Pvt Ltd                    Proposed TL       CRISIL        1676   Reaffirmed
                                                         BB+/Stable
(Issuer Not Cooperating)
S. Pushp Steel Structural Trading      Overdraft         CRISIL        35     Reaffirmed
Company                                                  B+/Stable
(Issuer Not Cooperating)
S. Pushp Steel Structural Trading      Proposed LT Bk    CRISIL        73     Reaffirmed
Company                                Loan Fac          B+/Stable
(Issuer Not Cooperating)
S.M.Ram Coal Importers Pvt Ltd         Bill Negotiation  CRISIL D      20     Reaffirmed
(Issuer Not Cooperating)
S.M.Ram Coal Importers Pvt Ltd         CC                CRISIL D      40     Reaffirmed
(Issuer Not Cooperating)
S.M.Ram Coal Importers Pvt Ltd         LOC               CRISIL D      120    Reaffirmed
(Issuer Not Cooperating)
S.M.Ram Coal Importers Pvt Ltd         Proposed LT Bk    CRISIL D      25     Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Sai Construction and Builders          BG                CRISIL D      180    Reaffirmed
(Issuer Not Cooperating)
Sai Construction and Builders          LT Loan           CRISIL D      90     Reaffirmed
(Issuer Not Cooperating)
Sai Construction and Builders          Overdraft         CRISIL D      150    Reaffirmed
(Issuer Not Cooperating)
Sai Teja Coating - Manikonda           Proposed LT Bk  CRISIL B/Stable 150    Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Sai Teja Coating Pvt Ltd               Proposed LT Bk    CRISIL        50     Reaffirmed
                                       Loan Fac          B/Stable
(Issuer Not Cooperating)
Samasta Microfinance Ltd               Proposed LT Bk    CRISIL        8460.5 Reaffirmed
                                       Loan Fac          A+/Negative
Samasta Microfinance Ltd               TL                CRISIL        11539.5Reaffirmed
                                                         A+/Negative
Samasta Microfinance Ltd               NCD               CRISIL        10000  Reaffirmed
                                                         A+/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Samasta Microfinance Ltd               NCD               CRISIL        1500   Reaffirmed
                                                         A+/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Samasta Microfinance Ltd               NCD               CRISIL        10000  Reaffirmed
                                                         A+/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Samasta Microfinance Ltd               NCD               CRISIL        1500   Reaffirmed
                                                         A+/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Samasta Microfinance Ltd               NCD               CRISIL        1500   Reaffirmed
                                                         A+/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Samasta Microfinance Ltd               LT Principal      CRISIL PP-MLD 3000   Reaffirmed
                                       Protected Market  A+r/Negative
                                       Linked Debentures
(Outlook revised from 'Stable' and rating reaffirmed)
Samasta Microfinance Ltd               Principal         CRISIL PP-MLD 1000   Reaffirmed
                                       Protected Market  A+r/Negative
                                       Linked Non-Convertible Subordinated Debentures 
(Outlook revised from 'Stable' and rating reaffirmed)
Samasta Microfinance Ltd               LT Principal      CRISIL PP-MLD 3000   Reaffirmed
                                       Protected Market  A+r/Negative
                                       Linked Debentures
(Outlook revised from 'Stable' and rating reaffirmed)
Samasta Microfinance Ltd               Principal         CRISIL PP-MLD 1000   Reaffirmed
                                       Protected Market  A+r/Negative
                                       Linked Non-Convertible Subordinated Debentures 
(Outlook revised from 'Stable' and rating reaffirmed)
Samasta Microfinance Ltd               LT Principal      CRISIL PP-MLD 3000   Reaffirmed
                                       Protected Market  A+r/Negative
                                       Linked Debentures
(Outlook revised from 'Stable' and rating reaffirmed)
Samasta Microfinance Ltd               Principal         CRISIL PP-MLD 1000   Reaffirmed
                                       Protected Market  A+r/Negative
                                       Linked Non-Convertible Subordinated Debentures 
(Outlook revised from 'Stable' and rating reaffirmed)
Samasta Microfinance Ltd               LT Principal      CRISIL PP-MLD 3000   Reaffirmed
                                       Protected Market  A+r/Negative
                                       Linked Debentures
(Outlook revised from 'Stable' and rating reaffirmed)
Samasta Microfinance Ltd               Principal         CRISIL PP-MLD 1000   Reaffirmed
                                       Protected Market  A+r/Negative
                                       Linked Non-Convertible Subordinated Debentures 
(Outlook revised from 'Stable' and rating reaffirmed)
Samasta Microfinance Ltd               Principal         CRISIL PP-MLD 1000   Reaffirmed
                                       Protected Market  A+r/Negative
                                       Linked Non-Convertible Subordinated Debentures 
(Outlook revised from 'Stable' and rating reaffirmed)
Santha Cashew                          CC                CRISIL        55     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Santha Cashew                          Export Packing    CRISIL        20     Reaffirmed
                                       Credit            B+/Stable
(Issuer Not Cooperating)
Sapphire Papers Mill Pvt Ltd           CC                CRISIL        90     Reaffirmed
                                                         BB+/Stable
(Issuer Not Cooperating)
Sapphire Papers Mill Pvt Ltd           LT Loan           CRISIL        98.5   Reaffirmed
                                                         BB+/Stable
(Issuer Not Cooperating)
Sapphire Papers Mill Pvt Ltd           Proposed LT Bk    CRISIL        26     Reaffirmed
                                       Loan Fac          BB+/Stable
(Issuer Not Cooperating)
Saraogi Udyog Pvt Ltd.                 Rating Advisory   -             -      -
(CRISIL vide its publication dated May 29, 2020 highlighted the aspect of non-co-operation by
Saraogi Udyog Private Limited.)
Sarayu Cleangen Pvt Ltd                Rupee TL          CRISIL        125    Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Schnell Energy Equipments Pvt Ltd      CC                CRISIL        55     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Schnell Energy Equipments Pvt Ltd      Proposed LT Bk    CRISIL        16.9   Reaffirmed
                                       Loan Fac          BB/Stable
(Issuer Not Cooperating)
Schnell Energy Equipments Pvt Ltd      TL                CRISIL        11.6   Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Seaward Exports Pvt Ltd                Foreign Bill      CRISIL        100    Assigned
                                       Purchase          BB/Stable
Seaward Exports Pvt Ltd                Packing Credit    CRISIL        40     Assigned
                                                         BB/Stable
Seaward Exports Pvt Ltd                Proposed FB Bk    CRISIL        15     Assigned
                                       Limits            BB/Stable
Security Printing and Minting          Proposed LT Bk    -             5000   Withdrawn
Corporation of India Ltd               Loan Fac
Sengodan Poultry Farm                  CC                CRISIL        30     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Sengodan Poultry Farm                  Proposed LT Bk    CRISIL        6.5    Reaffirmed
                                       Loan Fac          B+/Stable
(Issuer Not Cooperating)
Sengodan Poultry Farm                  TL                CRISIL        36     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
SGK Flours And Oils Pvt Ltd            Proposed CC Limit CRISIL        250    Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Shimla Tolls & Projects Pvt Ltd        BG                CRISIL D      15     Reaffirmed
(Issuer Not Cooperating)
Shimla Tolls & Projects Pvt Ltd        Proposed LT Bk    CRISIL D      5      Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Shimla Tolls & Projects Pvt Ltd        TL                CRISIL D      320    Reaffirmed
(Issuer Not Cooperating)
Shree Sairam Communications (India)    CC                CRISIL        95     Reaffirmed
Pvt Ltd                                                  B+/Stable
(Issuer Not Cooperating)
Shree Shakti Construction              CC                CRISIL        85     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Shree Shakti Construction              Proposed LT Bk    CRISIL        5      Reaffirmed
                                       Loan Fac          BB-/Stable
(Issuer Not Cooperating)
Shri Vijaylaxmi Ginning and Pressing   CC                CRISIL        80     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Shri Vijaylaxmi Ginning and Pressing   Proposed WC Fac   CRISIL        18.4   Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Shri Vijaylaxmi Ginning and Pressing   TL                CRISIL        1.6    Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Siddhartha Engineering Ltd             CC                CRISIL        370    Reaffirmed
                                                         BB/Stable
(Migrated from 'CRISIL BB/Stable ISSUER NOT COOPERATING)
Siddhivinayak Poultry Breeding Farm and CC               CRISIL        75     Reaffirmed
Hatcheries Pvt Ltd                                       BB-/Stable
(Issuer Not Cooperating)
Siddhivinayak Poultry Breeding Farm and Proposed CC Limit CRISIL       45     Reaffirmed
Hatcheries Pvt Ltd                                       BB-/Stable
(Issuer Not Cooperating)
Siddhivinayak Poultry Breeding Farm and Proposed TL      CRISIL        27.5   Reaffirmed
Hatcheries Pvt Ltd                                       BB-/Stable
(Issuer Not Cooperating)
Siddhivinayak Poultry Breeding Farm and TL               CRISIL        52.5   Reaffirmed
Hatcheries Pvt Ltd                                       BB-/Stable
(Issuer Not Cooperating)
SLV Enterprises - Nellore              CC                CRISIL        100    Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Somani Motors Pvt Ltd                  Electronic Dealer CRISIL        110    Reaffirmed
                                       Financing         B+/Stable
                                       Scheme(e-DFS)
(Issuer Not Cooperating)
Sree Veera Brahmendra Swamy Spinning   CC                CRISIL C      65     Reaffirmed
Mills Pvt Ltd
(Issuer Not Cooperating)
Sree Veera Brahmendra Swamy Spinning   WC TL             CRISIL C      75.1   Reaffirmed
Mills Pvt Ltd
(Issuer Not Cooperating)
Sri Kangeyaa Textiles Pvt Ltd          CC                CRISIL        30     Reaffirmed
                                                         BB-/Stable
Sri Kangeyaa Textiles Pvt Ltd          LT Loan           CRISIL        7.5    Reaffirmed
                                                         BB-/Stable
Sri Kangeyaa Textiles Pvt Ltd          Proposed LT Bk    CRISIL        17.5   Reaffirmed
                                       Loan Fac          BB-/Stable
Sri Prameela Parboiled Modern Rice Mill CC               CRISIL        48     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Sri Prameela Parboiled Modern Rice Mill TL               CRISIL        10     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Sri Raghavendra Poultry Farm           CC                CRISIL D      2      Reaffirmed
(Issuer Not Cooperating)
Sri Raghavendra Poultry Farm           TL                CRISIL D      48     Reaffirmed
(Issuer Not Cooperating)
Sri Rajalakshmi Poultry Farm           CC                CRISIL D      2      Reaffirmed
(Issuer Not Cooperating)
Sri Rajalakshmi Poultry Farm           TL                CRISIL D      48     Reaffirmed
(Issuer Not Cooperating)
Sri Venkatesh Granites Pvt Ltd         CC                CRISIL        30     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Sri Venkatesh Granites Pvt Ltd         LT Loan           CRISIL        40     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Sri Venkatesh Granites Pvt Ltd         Proposed LT Bk    CRISIL        30     Reaffirmed
                                       Loan Fac          BB/Stable
(Issuer Not Cooperating)
Sri Venkateswara Rice Mill -Palakol    CC                CRISIL        20     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
SS Aluminium Pvt Ltd                   BG                CRISIL D      5      Reaffirmed
(Issuer Not Cooperating)
SS Aluminium Pvt Ltd                   CC                CRISIL D      65     Reaffirmed
(Issuer Not Cooperating)
SS Aluminium Pvt Ltd                   LT Loan           CRISIL D      44.2   Reaffirmed
(Issuer Not Cooperating)
SS Aluminium Pvt Ltd                   Proposed LT Bk    CRISIL D      19.2   Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
St. Pauls Cashew Factory               CC                CRISIL        30     Reaffirmed
                                                         BB+/Stable
(Issuer Not Cooperating)
Star Realcon Pvt Ltd                   Proposed LT Bk    CRISIL D      5      Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Star Realcon Pvt Ltd                   Secured Overdraft CRISIL D      85     Reaffirmed
                                       Fac
(Issuer Not Cooperating)
Steel Products Ltd                     CC                CRISIL        115    Reaffirmed
                                                         B-/Stable
(Issuer Not Cooperating)
Stone Wonders India Ltd                Proposed LT Bk    CRISIL        47.5   Reaffirmed
                                       Loan Fac          B+/Stable
(Issuer Not Cooperating)
Sunny International Ltd                Export Packing    CRISIL        300    Reaffirmed
                                       Credit            BBB/Stable
Sunny International Ltd                LT Loan           CRISIL        262.5  Reaffirmed
                                                         BBB/Stable
Sunny International Ltd                Proposed FB Bk    CRISIL        20     Reaffirmed
                                       Limits            BBB/Stable
Sunny International Ltd                Standby Line of   CRISIL        50     Reaffirmed
                                       Credit            BBB/Stable
Sunny International Ltd                WC Fac            CRISIL        22.5   Assigned
                                                         BBB/Stable
Suolificio Linea Italia India Pvt Ltd  CC                CRISIL        85     -
                                                         BB+/Stable
(Downgraded from 'CRISIL BBB-/Stable')
Suolificio Linea Italia India Pvt Ltd  LT Loan           CRISIL        55     -
                                                         BB+/Stable
(Downgraded from 'CRISIL BBB-/Stable')
Susee Premium Automobiles Pvt Ltd      CC                CRISIL        47.5   Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Susee Premium Automobiles Pvt Ltd      Proposed LT Bk    CRISIL        2.5    Reaffirmed
                                       Loan Fac          B/Stable
(Issuer Not Cooperating)
Swarg Goldtouch Ltd                    CC                CRISIL        60     Reaffirmed
                                                         B-/Stable
(Issuer Not Cooperating)
Swarg Goldtouch Ltd                    Proposed LT Bk    CRISIL        10     Reaffirmed
                                       Loan Fac          B-/Stable
(Issuer Not Cooperating)
Swarna Constructions                   Proposed LT Bk    CRISIL        35     Reaffirmed
                                       Loan Fac          B-/Stable
(Issuer Not Cooperating)
Swarna Constructions                   Secured Overdraft CRISIL        55     Reaffirmed
                                       Fac               B-/Stable
(Issuer Not Cooperating)
Tata Motors Finance Ltd                Perpetual Bonds   CRISIL        4150   Reaffirmed
                                                         A/Negative
Tata Motors Finance Ltd                NCDs              CRISIL        56050  Reaffirmed
                                                         AA-/Negative
Tata Motors Finance Ltd                Subordinated Debt CRISIL        14000  Reaffirmed
                                       Programme         AA-/Negative
Taurus Commercials Pvt Ltd             CC/ Overdraft Fac CRISIL        50     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Taurus Commercials Pvt Ltd             Electronic Dealer CRISIL        540    Reaffirmed
                                       Financing         BB-/Stable
                                       Scheme(e-DFS)
(Issuer Not Cooperating)
Taurus Commercials Pvt Ltd             Loan Against      CRISIL        25     Reaffirmed
                                       Property          BB-/Stable
(Issuer Not Cooperating)
Technocast Foundry                     CC                CRISIL        100    Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Technocast Foundry                     Packing Credit    CRISIL        30     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Thames Steels Pvt Ltd                  CC                CRISIL        36.5   Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Thames Steels Pvt Ltd                  LT Loan           CRISIL        333.5  Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
The United Engineers                   Proposed CC Limit CRISIL        40     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Tilak Exports                          Bill Discounting  CRISIL D      30     Reaffirmed
(Issuer Not Cooperating)
Tilak Exports                          LOC               CRISIL D      20     Reaffirmed
(Issuer Not Cooperating)
Tilak Exports                          Packing Credit    CRISIL D      70     Reaffirmed
(Issuer Not Cooperating)
Tilak Exports                          Proposed LT Bk    CRISIL D      1.5    Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Tilak Exports                          TL                CRISIL D      38.5   Reaffirmed
(Issuer Not Cooperating)
Trisha Trends Pvt Ltd                  CC                CRISIL        60     Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Trisha Trends Pvt Ltd                  Proposed LT Bk    CRISIL        40     Reaffirmed
                                       Loan Fac          B+/Stable
(Issuer Not Cooperating)
Utility Projects and Services Pvt Ltd  CC/ Overdraft Fac CRISIL        7.5    Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
V. S. Tapes                            CC                CRISIL        52.5   Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
V. S. Tapes                            TL                CRISIL        2.5    Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Varun Foods Processing Pvt Ltd         CC                CRISIL        50     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Varun Foods Processing Pvt Ltd         LT Loan           CRISIL        12.2   Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Varun Foods Processing Pvt Ltd         Proposed CC Limit CRISIL        15     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Varun Foods Processing Pvt Ltd         Proposed LT Bk    CRISIL        1.3    Reaffirmed
                                       Loan Fac          BB-/Stable
(Issuer Not Cooperating)
Vasavi Thanga Maaligai                 CC                CRISIL        70     Reaffirmed
                                                         B/Stable
(Issuer Not Cooperating)
Velkar Engineering And Industries Pvt  Proposed CC Limit CRISIL        50     Reaffirmed
Ltd                                                      B-/Stable
(Issuer Not Cooperating)
Velkar Engineering And Industries Pvt  Proposed Overdraft CRISIL       50     Reaffirmed
Ltd                                    Fac               B-/Stable
(Issuer Not Cooperating)
Venkat Sai Motors                      CC                CRISIL        35     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Vighneshwar Ispat Pvt Ltd              CC                CRISIL        45     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Vighneshwar Ispat Pvt Ltd              Proposed LT Bk    CRISIL        55     Reaffirmed
                                       Loan Fac          BB-/Stable
(Issuer Not Cooperating)
Vijayalakshmi Rice Mill                CC                CRISIL        31.5   Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
Vishakha Irrigation Pvt Ltd            CC                CRISIL        180    Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
Vishakha Irrigation Pvt Ltd            Proposed LT Bk    CRISIL        7.5    Reaffirmed
                                       Loan Fac          B+/Stable
(Issuer Not Cooperating)
Vishakha Irrigation Pvt Ltd            TL                CRISIL        72.5   Reaffirmed
                                                         B+/Stable
(Issuer Not Cooperating)
VM Cashews                             Proposed LT Bk    CRISIL        250    Reaffirmed
                                       Loan Fac          BB-/Stable
(Issuer Not Cooperating)
VNR Constructions                      Proposed LT Bk    CRISIL        5      Reaffirmed
                                       Loan Fac          BB-/Stable
(Issuer Not Cooperating)
VNR Constructions                      Secured Overdraft CRISIL        75     Reaffirmed
                                       Fac               BB-/Stable
(Issuer Not Cooperating)
VTC - Kanyakumari                      CC              CRISIL B/Stable 70     Reaffirmed
(Issuer Not Cooperating)
VTC - Kanyakumari                      Proposed LT Bk  CRISIL B/Stable 10     Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Yogesh Trading Co.                     CC                CRISIL        550    Reaffirmed
                                                         B+/Stable
(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@refinitiv.com)
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