June 3, 2019 / 8:53 AM / 4 months ago

CRISIL ratings for Indian debt instruments-Jun 3

    Jun 3 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 31, 2019.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Ace Hardware Pvt Ltd                    Export Packing     CRISIL A2      85      Assigned
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Alpha Corp Development Pvt Ltd          BG                 CRISIL A3      300     Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Amrit Trading Company                   LOC                CRISIL A4      80      Assigned
Apex Tarmac Pvt Ltd                     BG                 CRISIL A3+     1350    Reaffirmed
Best Stamping Pvt Ltd                   Packing Credit     CRISIL A4+     20      Reaffirmed
BMW Ventures Ltd                        BG                 CRISIL A3+     10      Reaffirmed
Brakes India Pvt Ltd                    LOC**              CRISIL A1+     1200    Reaffirmed
**Interchangeable with bank guarantee
Brakes India Pvt Ltd                    CP                 CRISIL A1+     250     Reaffirmed
Clix Capital Services Pvt Ltd           Proposed ST Bk     CRISIL A1+     12000   Reaffirmed
                                        Loan Fac
Clix Capital Services Pvt Ltd           CP*                CRISIL A1+     12000   Reaffirmed
*Aggregate rated debt not to exceed Rs.1200 crore
Clix Capital Services Pvt Ltd           ST Debt*           CRISIL A1+     12000   Reaffirmed
*Aggregate rated debt not to exceed Rs.1200 crore
Clix Finance India Pvt Ltd              Proposed ST Bk     CRISIL A1+     5000    Reaffirmed
                                        Loan Fac
Clix Finance India Pvt Ltd              CP*                CRISIL A1+     5000    Reaffirmed
*Aggregate rated debt not to exceed Rs.500 crore
Clix Finance India Pvt Ltd              ST Debt*           CRISIL A1+     5000    Reaffirmed
*Aggregate rated debt not to exceed Rs.500 crore
CMS Computers Ltd                       BG                 CRISIL A3      950     Assigned
Continental Warehousing Corporation     BG#                CRISIL A1      500
(Nhava Seva) Ltd
Placed on 'Rating Watch with Developing Implications'  /#Fund based sub-limit of Rs 40 crore
DBL Wardha Butibori Highways Pvt Ltd    BG                 CRISIL A2      532.8   Migrated
Issuer Not Cooperating
Diana Buildwell Pvt Ltd                 BG                 CRISIL A3      200     Reaffirmed
Driplex Water Engineering Pvt Ltd       BG                 CRISIL A2+     2250    Reaffirmed
Driplex Water Engineering Pvt Ltd       LOC                CRISIL A2+     850     Reaffirmed
F.I. Educational and Welfare Society    BG                 CRISIL A4+     19.3    Assigned
Footwear (Klick) India Pvt Ltd          BG                 CRISIL A3+     50      Reaffirmed
IAC International Automotive India Pvt  LOC & BG           CRISIL A2      200     Reaffirmed
Ltd
Indus Pharma Pvt Ltd                    Import LOC Limit   CRISIL A4      35      Assigned
Indus Towers Ltd                        BG                 CRISIL A1+     1500    Reaffirmed
Indus Towers Ltd                        Overdraft          CRISIL A1+     5500    Reaffirmed
Indus Towers Ltd                        Proposed ST Bk     CRISIL A1+     5000    Reaffirmed
                                        Loan Fac
Indus Towers Ltd                        ST Loan            CRISIL A1+     5500    Reaffirmed
Indus Towers Ltd                        ST Loan@           CRISIL A1+     15000   Reaffirmed
@Overdraft is a sub-limit 
Indus Towers Ltd                        CP                 CRISIL A1+     25000   Reaffirmed
JMP Manufacturing Company               Packing Credit     CRISIL A4+     15      Assigned
Jugal Kishore Kashmiri Lal              LOC                CRISIL A4+     120     Assigned
K. K. Nag Pvt Ltd                       BG                 CRISIL A3+     10      Reaffirmed
K. K. Nag Pvt Ltd                       LOC                CRISIL A3+     52.5    Reaffirmed
Kayathri Consultants Pvt Ltd            BG                 CRISIL A4      65      Reaffirmed
Leayan Global Pvt Ltd                   BG*                CRISIL A2+     5       Reaffirmed
*Interchangeable both way between letter of credit and bank guarantee
Leayan Global Pvt Ltd                   Foreign Bill       CRISIL A2+     75      Reaffirmed
                                        Purchase
Leayan Global Pvt Ltd                   Foreign Exchange   CRISIL A2+     7.5     Reaffirmed
                                        Forward
Leayan Global Pvt Ltd                   LOC*               CRISIL A2+     50      Reaffirmed
*Interchangeable both way between letter of credit and bank guarantee
Matchwell Engineering Pvt Ltd           Overdraft          CRISIL A3      42      Assigned
Matchwell Engineering Pvt Ltd           LOC                CRISIL A3      4       Assigned
Motilal Oswal Home Finance Ltd          CP                 CRISIL A1+     10000   Reaffirmed
Multi Organics Pvt Ltd                  BG                 CRISIL A2      15      Reaffirmed
Multi Organics Pvt Ltd                  LOC                CRISIL A2      5       Reaffirmed
NIF Pvt Ltd                             BG                 CRISIL A2+     50      Reaffirmed
NIF Pvt Ltd                             Foreign Exchange   CRISIL A2+     4       Reaffirmed
                                        Forward
NIF Pvt Ltd                             Proposed ST Bk     CRISIL A2+     100     Reaffirmed
                                        Loan Fac
NU Fashion Footwear Pvt Ltd             Proposed ST Bk     CRISIL A3+     238.5   Reaffirmed
                                        Loan Fac
Pardes Dehydration Company              Packing Credit     CRISIL A4      130     Assigned
Pardes Dehydration Company              Inland/Import LOC  CRISIL A4      2.5     Assigned
Phaloudi Constructions and              BG                 CRISIL A4+     160     Migrated from
Infrastructure Pvt Ltd                                                            CRISIL A4+
Issuer Not Cooperating
Phoenix ARC Pvt Ltd                     CP                 CRISIL A1+     3000    Reaffirmed
Psychotropics India Ltd                 LOC                CRISIL A3+     10      Reaffirmed
R. Mahendra and Co.                     Post Shipment      CRISIL A4      74.5    Reaffirmed
                                        Credit
R. Mahendra and Co.                     Pre Shipment Fac   CRISIL A4      35.5    Reaffirmed
Ruchira Papers Ltd                      LOC & BG           CRISIL A2      97.5    Assigned
Saanika Industries Pvt Ltd              Inland Guarantees  CRISIL A3+     20      Assigned

Sahaj Vishwas Urja Pvt Ltd              Proposed BG        CRISIL A4      40      Assigned
SPC Lifesciences Pvt Ltd                BG                 CRISIL A4+     3       Reaffirmed
SPC Lifesciences Pvt Ltd                LOC                CRISIL A4+     25      Reaffirmed
Summer Sands                            BG                 CRISIL A4      43.5    Assigned
Tata Capital Ltd                        CP                 CRISIL A1+     20000   Reaffirmed
TATA Sky Ltd                            LOC##              CRISIL A1+     1040    Reaffirmed
## Interchangeable with Overdraft, Buyers Credit and Bill Discounting
TATA Sky Ltd                            Proposed ST Bk     CRISIL A1+     1500    Reaffirmed
                                        Loan Fac
TATA Sky Ltd                            Overdraft^         CRISIL A1+     2886    Reaffirmed
^ Interchangeable with Letter of Credit, Buyers Credit, Bank Guarantee and Bill Discounting
Uniply Decor Ltd                        Proposed ST Bk     CRISIL A4+     150     Reaffirmed
                                        Loan Fac
Vamshi Motors Pvt Ltd                   BG                 CRISIL A4+     25      Assigned
Yazaki India Pvt Ltd                    Buyer`s Credit^    CRISIL A2+     300     Upgraded from
                                                                                  CRISIL A2
^Interchangeable with Working Capital Demand Loan
 
MEDIUM TERM RATINGS:
-------------------
K. K. Nag Pvt Ltd                       FD                 FA-            8.6     Reaffirmed

LONG TERM RATINGS:
-------------------
Aditya Birla Health Services Ltd        CC*                CRISIL BBB+    70      Upgraded from
                                                                                  CRISIL BBB
*Interchangeable with letter of credit and bank guarantee up to Rs 2 crore
Aditya Birla Health Services Ltd        LT Loan            CRISIL BBB+    173.8   Upgraded from
                                                                                  CRISIL BBB
Advance Pesticides                      CC                 CRISIL BB+     350     Assigned
Advance Pesticides                      CC & WC demand loanCRISIL BB+     70      Assigned
Agrocrops India Ltd                     CC                 CRISIL BB+     90      Upgraded from
                                                                                  CRISIL BB
Agrocrops India Ltd                     Proposed LT Bk     CRISIL BB+     30      Upgraded from
                                        Loan Fac                                  CRISIL BB
Allahabad Agro Commodities Pvt Ltd      Proposed FB Bk     CRISIL B+      10      Assigned
                                        Limits
Allahabad Agro Commodities Pvt Ltd      LT Loan            CRISIL B+      17.7    Assigned
Allahabad Agro Commodities Pvt Ltd      CC                 CRISIL B+      50      Assigned
Allahabad Agro Commodities Pvt Ltd      Foreign LOC        CRISIL B+      22.3    Assigned
Alpha Corp Development Pvt Ltd          Proposed LT Bk     CRISIL BBB-    725     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB
Alpha Corp Development Pvt Ltd          TL                 CRISIL BBB-    1975    Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Alpha Corp Development Pvt Ltd          NCD                CRISIL BBB-    1500    Downgraded
                                                                                  from CRISIL
                                                                                  BBB
AM Motors                               Inventory Funding  CRISIL BBB-    100     Assigned
                                        Fac
Amrit Trading Company                   CC                 CRISIL B+      25      Assigned
Apex Tarmac Pvt Ltd                     CC                 CRISIL BBB     300     Reaffirmed
Arpit Projects Ltd                      LT Loan            CRISIL BB      1490    Reaffirmed
Arti Roller Flour Industries Pvt Ltd    CC                 CRISIL BB-     60      Assigned
Asian Hotels (North) Ltd                CC                 CRISIL B       130     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Asian Hotels (North) Ltd                LT Loan            CRISIL B       2414.1  Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Asian Hotels (North) Ltd                Proposed FB Bk     CRISIL B       1555.9  Downgraded
                                        Limits                                    from CRISIL
                                                                                  BBB-
B.V.S. Distilleries Pvt Ltd             LT Loan            CRISIL D       335     Reaffirmed
B.V.S. Distilleries Pvt Ltd             Proposed LT Bk     CRISIL D       5       Reaffirmed
                                        Loan Fac
Best Crop Science - Kathua              CC                 CRISIL A-      150     Assigned
Best Crop Science - Kathua              LT Loan            CRISIL A-      65      Assigned
Best Stamping Pvt Ltd                   CC                 CRISIL BB-     50      Reaffirmed
Best Stamping Pvt Ltd                   Proposed TL        CRISIL BB-     50      Reaffirmed
BMW Enterprises                         CC                 CRISIL BBB-    240     Upgraded from
                                                                                  CRISIL BB+
BMW Enterprises                         Channel Financing  CRISIL BBB-    100     Upgraded from
                                                                                  CRISIL BB+
BMW Enterprises                         Proposed FB Bk     CRISIL BBB-    200     Upgraded from
                                        Limits                                    CRISIL BB+
BMW Ventures Ltd                        CC                 CRISIL BBB     500     Reaffirmed
BMW Ventures Ltd                        Channel Financing  CRISIL BBB     550     Reaffirmed
BMW Ventures Ltd                        Proposed FB Bk     CRISIL BBB     600     Reaffirmed
                                        Limits
Brakes India Pvt Ltd                    CC*                CRISIL AA+     2000    Reaffirmed
*Interchangeable with short-term loan, working capital demand loan, packing credit, and other
fund- based limits
Brakes India Pvt Ltd                    Proposed LT Bk     CRISIL AA+     50      Reaffirmed
                                        Loan Fac
Brakes India Pvt Ltd                    NCD                CRISIL AA+     200     Reaffirmed
British Agro Products India Pvt Ltd     Proposed Overdraft CRISIL BB      50      Assigned
                                        Fac
British Agro Products India Pvt Ltd     Secured Overdraft  CRISIL BB      50      Assigned
                                        Fac
CMS Computers Ltd                       Proposed LT Bk     CRISIL BBB-    5       Assigned
                                        Loan Fac
CMS Computers Ltd                       CC                 CRISIL BBB-    295     Assigned
Continental Warehousing Corporation     CC**               CRISIL A       400
(Nhava Seva) Ltd
Placed on 'Rating Watch with Developing Implications' /**Working capital demand loan sub-limit
of Rs 40 crore
Continental Warehousing Corporation     Proposed LT Bk     CRISIL A       28.4
(Nhava Seva) Ltd                        Loan Fac
Placed on 'Rating Watch with Developing Implications'
Continental Warehousing Corporation     TL                 CRISIL A       3940
(Nhava Seva) Ltd
Placed on 'Rating Watch with Developing Implications'
DBL Wardha Butibori Highways Pvt Ltd    TL                 CRISIL BBB+    3368.5  Migrated
Issuer Not Cooperating
Deepak Automobiles - Gondia             CC                 CRISIL BB-     50      Assigned
Deepak Automobiles - Gondia             TL                 CRISIL BB-     9       Assigned
Diana Buildwell Pvt Ltd                 TL                 CRISIL BBB-    1500    Reaffirmed
Dipu Enterprises Pvt Ltd                CC                 CRISIL BB-     120     Upgraded from
                                                                                  CRISIL B+
Dipu Enterprises Pvt Ltd                Proposed LT Bk     CRISIL BB-     10.7    Upgraded from
                                        Loan Fac                                  CRISIL B+
Dipu Enterprises Pvt Ltd                SME Gold Card      CRISIL BB-     12      Upgraded from
                                                                                  CRISIL B+
Dipu Enterprises Pvt Ltd                TL                 CRISIL BB-     7.3     Upgraded from
                                                                                  CRISIL B+
Driplex Water Engineering Pvt Ltd       CC                 CRISIL A-      500     Reaffirmed
E K Electronics Pvt Ltd                 CC                 CRISIL BB      80      Assigned
E K Electronics Pvt Ltd                 TL                 CRISIL BB      90      Assigned
Eminent Jewel Arcade Pvt Ltd            CC                 CRISIL BBB-    69.5    Reaffirmed
Eureka Iron And Energy Pvt Ltd          CC                 CRISIL BB-     50      Assigned
Eureka Iron And Energy Pvt Ltd          TL                 CRISIL BB-     17.7    Assigned
F.I. Educational and Welfare Society    TL                 CRISIL BB      52.7    Assigned
Florice Ceramic LLP                     CC                 CRISIL B       26      Assigned
Florice Ceramic LLP                     TL                 CRISIL B       72      Assigned
Footwear (Klick) India Pvt Ltd          CC                 CRISIL BBB     210     Reaffirmed
Footwear (Klick) India Pvt Ltd          LT Loan            CRISIL BBB     50      Reaffirmed
Genie Commercial Ventures Pvt Ltd       NCD                CRISIL BB-(SO) 85      Migrated from
                                                                                  CRISIL BB+(SO)
Haryana Rice Mill - Saharanpur          CC                 CRISIL B       40      Assigned
Haryana Rice Mill - Saharanpur          Rupee TL           CRISIL B       40      Assigned
IAC International Automotive India Pvt  CC                 CRISIL BBB+    200     Reaffirmed
Ltd
IAC International Automotive India Pvt  Proposed LT Bk     CRISIL BBB+    10      Reaffirmed
Ltd                                     Loan Fac
IAC International Automotive India Pvt  TL                 CRISIL BBB+    300     Reaffirmed
Ltd
Indian Hair Industries Pvt Ltd          Proposed LT Bk     CRISIL BBB     700     Reaffirmed
                                        Loan Fac
Indian Hair Industries Pvt Ltd          WC Fac             CRISIL BBB     250     Reaffirmed
Indus Pharma Pvt Ltd                    TL                 CRISIL B+      77      Assigned
Indus Pharma Pvt Ltd                    Proposed LT Bk     CRISIL B+      5.5     Assigned
                                        Loan Fac
Indus Pharma Pvt Ltd                    CC                 CRISIL B+      7.5     Assigned
Indus Towers Ltd                        Proposed LT Bk     CRISIL AA+     42500   Reaffirmed
                                        Loan Fac
Indus Towers Ltd                        TL                 CRISIL AA+     40000   Reaffirmed
Indus Towers Ltd                        Bond               CRISIL AA+     25000   Reaffirmed
Javery Incorporation                    CC                 CRISIL B+      75      Reaffirmed
JMP Manufacturing Company               CC                 CRISIL BB-     47.5    Assigned
Jugal Kishore Kashmiri Lal              CC                 CRISIL BB      20      Assigned
K. K. Nag Pvt Ltd                       CC                 CRISIL BBB     65      Reaffirmed
K. K. Nag Pvt Ltd                       Proposed LT Bk     CRISIL BBB     70      Reaffirmed
                                        Loan Fac
K. K. Nag Pvt Ltd                       Standby Line of    CRISIL BBB     9.5     Reaffirmed
                                        Credit
K. K. Nag Pvt Ltd                       TL                 CRISIL BBB     40.5    Reaffirmed
Karthikeya Agro Industries              CC                 CRISIL B+      120     Assigned
Kayathri Consultants Pvt Ltd            CC                 CRISIL B-      82.5    Reaffirmed
Kayathri Consultants Pvt Ltd            Proposed LT Bk     CRISIL B-      52.5    Reaffirmed
                                        Loan Fac
Leayan Global Pvt Ltd                   CC$                CRISIL A-      320     Reaffirmed
$Interchangeable one way to export packing credit and foreign bill purchase up to Rs 5.0 crore
Leayan Global Pvt Ltd                   Export Packing     CRISIL A-      110     Reaffirmed
                                        Credit
Leayan Global Pvt Ltd                   Proposed LT Bk     CRISIL A-      32.5    Reaffirmed
                                        Loan Fac
Leayan Global Pvt Ltd                   TL                 CRISIL A-      50      Reaffirmed
Luster Gold Palace (India) Pvt Ltd      CC                 CRISIL BB+     60      Reaffirmed
Luster Gold Palace (India) Pvt Ltd      Proposed LT Bk     CRISIL BB+     10      Reaffirmed
                                        Loan Fac
M.G. Industries - Nashik                CC                 CRISIL B+      47.5    Assigned
M.G. Industries - Nashik                TL                 CRISIL B+      12.5    Assigned
Malabar Crystals and Diamonds Pvt Ltd   CC                 CRISIL BBB     100     Reaffirmed
Malabar Diamond Gallery Pvt Ltd         CC                 CRISIL BBB     400     Reaffirmed
Malabar Gold Palace Pvt Ltd             CC                 CRISIL BBB+    240     Reaffirmed
Malabar Gold Pvt Ltd                    CC                 CRISIL BBB+    4267.5  Reaffirmed
Malabar Gold Pvt Ltd                    CC & WC demand loanCRISIL BBB+    400     Reaffirmed
Malabar Gold Pvt Ltd                    Export Packing     CRISIL BBB+    730     Reaffirmed
                                        Credit
Malabar Gold Pvt Ltd                    LT Loan            CRISIL BBB+    220     Reaffirmed
Malabar Gold Pvt Ltd                    Proposed WC Fac    CRISIL BBB+    1932.5  Reaffirmed
Malabar Gold Pvt Ltd                    WC Demand Loan     CRISIL BBB+    100     Reaffirmed
Malabar Jewels and Gems Pvt Ltd         CC                 CRISIL BBB+    170     Reaffirmed
Malabar Mangalore Arcade Pvt Ltd        CC                 CRISIL BBB     99.5    Reaffirmed
Malabar Mangalore Arcade Pvt Ltd        Proposed CC Limit  CRISIL BBB     0.5     Reaffirmed
Malabar Ruby Pvt Ltd                    CC                 CRISIL BBB-    100     Reaffirmed
Maruti International - New Delhi        CC                 CRISIL B       50      Assigned
Matchwell Engineering Pvt Ltd           Proposed CC Limit  CRISIL BBB-    46      Assigned
Matchwell Engineering Pvt Ltd           CC                 CRISIL BBB-    28      Assigned
Mint Trust February 2018(Originator:    Series A1 PTCs     CRISIL AA-     -       Upgraded from
Satin Creditcare Network Ltd)                              (SO)                   CRISIL A- (SO)
Motilal Oswal Home Finance Ltd          CC                 CRISIL AA-     350     Upgraded from
                                                                                  CRISIL A+
Motilal Oswal Home Finance Ltd          LT Loan            CRISIL AA-     8020    Upgraded from
                                                                                  CRISIL A+
Motilal Oswal Home Finance Ltd          WC Demand Loan     CRISIL AA-     250     Upgraded from
                                                                                  CRISIL A+
Motilal Oswal Home Finance Ltd          NCD                CRISIL AA-     10000   Upgraded from
                                                                                  CRISIL A+
Motilal Oswal Home Finance Ltd          NCDs               CRISIL AA-     3500    Upgraded from
                                                                                  CRISIL A+
Motilal Oswal Home Finance Ltd          LT Principal       CRISIL PP-MLD  1000    Assigned
                                        Protected Market   AA-r
                                        Linked Debentures
Multi Organics Pvt Ltd                  CC                 CRISIL BBB+    40      Reaffirmed
Multi Organics Pvt Ltd                  Proposed LT Bk     CRISIL BBB+    40      Reaffirmed
                                        Loan Fac
NIF Pvt Ltd                             CC*                CRISIL A-      350     Reaffirmed
*Interchangable with WCDL/SBCL
NIF Pvt Ltd                             CC                 CRISIL A-      660     Reaffirmed
NIF Pvt Ltd                             Proposed LT Bk     CRISIL A-      268.5   Reaffirmed
                                        Loan Fac
NIF Pvt Ltd                             Standby LOC        CRISIL A-      50      Reaffirmed
NIF Pvt Ltd                             TL                 CRISIL A-      1317.5  Reaffirmed
Northern Gold Collections Llp           CC                 CRISIL BBB-    130     Reaffirmed
NU Fashion Footwear Pvt Ltd             CC                 CRISIL BBB     162     Reaffirmed
NU Fashion Footwear Pvt Ltd             Proposed LT Bk     CRISIL BBB     38      Reaffirmed
                                        Loan Fac
Pardes Dehydration Company              CC                 CRISIL B+      10      Assigned
Phaloudi Constructions and              CC                 CRISIL BB+     30      Migrated from
Infrastructure Pvt Ltd                                                            CRISIL BB+
Issuer Not Cooperating
Phoenix ARC Pvt Ltd                     CC                 CRISIL AA      2000    Reaffirmed
Phoenix ARC Pvt Ltd                     Overdraft          CRISIL AA      1000    Reaffirmed
Phoenix ARC Pvt Ltd                     Proposed LT Bk     CRISIL AA      1000    Reaffirmed
                                        Loan Fac*
*Interchangeable with short term bank facilities 
Phoenix ARC Pvt Ltd                     NCD                CRISIL AA      3000    Assigned
Phoenix ARC Pvt Ltd                     NCD                CRISIL AA      1000    Reaffirmed
Phoenix ARC Pvt Ltd                     NCD                CRISIL AA      1000    Reaffirmed
PIL Pharmaceuticals Pvt Ltd             Proposed LT Bk     CRISIL BBB     75      Reaffirmed
                                        Loan Fac
Prominent Jewel Arcade Pvt Ltd          CC                 CRISIL BB+     50      Reaffirmed
Psychotropics India Ltd                 CC                 CRISIL BBB     220     Reaffirmed
Psychotropics India Ltd                 LT Loan            CRISIL BBB     196.9   Reaffirmed
Race Polymer Arts LLP                   CC                 CRISIL BBB-    20      Assigned
Race Polymer Arts LLP                   TL                 CRISIL BBB-    96      Assigned
Riches Jewel Arcade Llp                 CC                 CRISIL BBB     300     Reaffirmed
Riches Jewel Arcade Llp                 Proposed CC Limit  CRISIL BBB     350     Reaffirmed
RK Hair Products Pvt Ltd                CC                 CRISIL BBB+    100     Reaffirmed
RK Hair Products Pvt Ltd                Proposed LT Bk     WD             50      Withdrawn
                                        Loan Fac
Ruchira Papers Ltd                      CC                 CRISIL BBB+    570     Reaffirmed
Ruchira Papers Ltd                      TL                 CRISIL BBB+    167.9   Reaffirmed
Ruchira Papers Ltd                      Proposed LT Bk     CRISIL BBB+    264.6   Reaffirmed
                                        Loan Fac
S.F.C. Foods Pvt Ltd                    CC                 CRISIL BB-     44      Assigned
S.F.C. Foods Pvt Ltd                    Proposed FB Bk     CRISIL BB-     36      Assigned
                                        Limits
S.K. Farms - Namakkal                   TL                 CRISIL B+      10.8    Assigned
S.K. Farms - Namakkal                   CC/ Overdraft Fac  CRISIL B+      35      Assigned
S.K. Farms - Namakkal                   Key CC             CRISIL B+      23      Assigned
Saanika Industries Pvt Ltd              CC                 CRISIL BBB     308     Assigned
Saanika Industries Pvt Ltd              Credit Limit Under CRISIL BBB     47.6    Assigned
                                        Gold Card
Saanika Industries Pvt Ltd              Proposed LT Bk     CRISIL BBB     9.6     Assigned
                                        Loan Fac
Saanika Industries Pvt Ltd              Proposed WC Fac    CRISIL BBB     100     Assigned
Saanika Industries Pvt Ltd              TL                 CRISIL BBB     214.8   Assigned
Sagar Nutriments Pvt Ltd                TL                 CRISIL BBB-    137.2   Assigned
Sagar Nutriments Pvt Ltd                CC                 CRISIL BBB-    350     Assigned
Sagar Nutriments Pvt Ltd                Line of Credit     CRISIL BBB-    0.8     Assigned
Sahaj Vishwas Urja Pvt Ltd              Proposed CC Limit  CRISIL B+      60      Assigned
Sahana Clothing Company Pvt Ltd         Bill Discounting   CRISIL BBB     20      Reaffirmed
Sahana Clothing Company Pvt Ltd         CC                 CRISIL BBB     300     Reaffirmed
Sahana Clothing Company Pvt Ltd         Export Packing     CRISIL BBB     30      Reaffirmed
                                        Credit
Sahana Clothing Company Pvt Ltd         Export Packing     CRISIL BBB     220     Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Sahana Clothing Company Pvt Ltd         Key CC             CRISIL BBB     200     Reaffirmed
Sahana Clothing Company Pvt Ltd         LT Loan            CRISIL BBB     40      Reaffirmed
Sarla Medical Centre Pvt Ltd            LT Loan            CRISIL D       100     Downgraded
                                                                                  from CRISIL B
Sarla Medical Centre Pvt Ltd            Overdraft          CRISIL D       20      Downgraded
                                                                                  from CRISIL B
Scintillating Jewellery                 Export Packing     CRISIL BB+     258     Reaffirmed
                                        Credit
Scintillating Jewellery                 Post Shipment      CRISIL BB+     342     Reaffirmed
                                        Credit
Scintillating Jewellery                 Proposed LT Bk     CRISIL BB+     200     Reaffirmed
                                        Loan Fac
Shakthi Sago Factory                    Proposed LT Bk     CRISIL B+      13.1    Assigned
                                        Loan Fac
Shakthi Sago Factory                    CC                 CRISIL B+      45      Assigned
Shakthi Sago Factory                    LT Loan            CRISIL B+      11.9    Assigned
Sheen Golden Jewels (india) Pvt Ltd     CC                 CRISIL BB+     50      Reaffirmed
Shiv Engineering                        CC                 CRISIL BB-     5.6     Assigned
Shiv Engineering                        TL                 CRISIL BB-     84.4    Assigned
Shruti Rice Mill                        WC Fac             CRISIL BB-     70      Assigned
Siloxane Aggrandize Innovative          Proposed CC Limit  CRISIL BB-     22.5    Assigned
Industries
Siloxane Aggrandize Innovative          Proposed TL        CRISIL BB-     65      Assigned
Industries
Sivanta Infratech                       Rupee TL           CRISIL B+      200     Assigned
Smith N smith Chemicals Ltd             CC & WC demand loanCRISIL A-      70      Assigned
SPC Lifesciences Pvt Ltd                CC                 CRISIL BB+     180     Upgraded from
                                                                                  CRISIL BB
SPC Lifesciences Pvt Ltd                TL                 CRISIL BB+     92      Upgraded from
                                                                                  CRISIL BB
Splendour Gold Collections LLP          CC                 CRISIL BBB     1550    Reaffirmed
Sri Sai Creations                       CC                 CRISIL B+      49      Assigned;
                                                                                  Suspension
                                                                                  Revoked
Sri Sai Creations                       Proposed LT Bk     CRISIL B+      31      Assigned;
                                        Loan Fac                                  Suspension
                                                                                  Revoked
Summer Sands                            Proposed CC Limit  CRISIL B+      16.5    Assigned
Summer Sands                            Overdraft          CRISIL B+      40      Assigned
Swarna Kamal Jewels India Pvt Ltd       CC                 CRISIL BBB-    160     Reaffirmed
Swastik Chemicals                       CC                 CRISIL BB-     100     Reaffirmed
Tata Capital Ltd                        CC & WC demand loanCRISIL AAA     150     Reaffirmed
Tata Capital Ltd                        Proposed LT Bk     CRISIL AAA     100     Reaffirmed
                                        Loan Fac
Tata Capital Ltd                        PS                 CRISIL AAA     400     Assigned
Tata Capital Ltd                        PS                 CRISIL AAA     26500   Reaffirmed
Tata Capital Ltd                        NCDs               CRISIL AAA     25000   Reaffirmed
TATA Sky Ltd                            Buyer`s Credit     CRISIL AA      2812    Reaffirmed
TATA Sky Ltd                            Proposed LT Bk     CRISIL AA      2112    Reaffirmed
                                        Loan Fac
TATA Sky Ltd                            Overdraft*         CRISIL AA      12780   Reaffirmed
* Interchangeable with Letter of Credit, Buyers Credit and Bank Guarantee.
TATA Sky Ltd                            Overdraft^         CRISIL AA      9738    Reaffirmed
^ Interchangeable with Letter of Credit, Buyers Credit, Bank Guarantee and Bill Discounting
TATA Sky Ltd                            Overdraft#         CRISIL AA      864     Reaffirmed
# Interchangeable with Letter of Credit, Buyers Credit and Bill Discounting
TATA Sky Ltd                            Overdraft$         CRISIL AA      248     Reaffirmed
$ Interchangeable with Letter of Credit, Bank Guarantee and Bill Discounting
TATA Sky Ltd                            NCD                CRISIL AA      2000    Reaffirmed
(Reduced from Rs.400 Crore)
TATA Sky Ltd                            NCD                CRISIL AA      2000    Reaffirmed
Uniply Decor Ltd                        WC Loan            CRISIL BB+     450     Reaffirmed
Urs Kar Service Centre Pvt Ltd          Inventory Funding  CRISIL B+      152.5   Downgraded
                                        Fac                                       from CRISIL
                                                                                  BB-
Urs Kar Service Centre Pvt Ltd          Proposed LT Bk     CRISIL B+      7.5     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Valens Molecules Pvt Ltd                CC                 CRISIL BB      80      Reaffirmed
Valens Molecules Pvt Ltd                LT Loan            CRISIL BB      320     Reaffirmed
Vamshi Motors Pvt Ltd                   CC                 CRISIL BB-     40      Assigned
Vivriti Naboo 002 2018 (Originator:     Series A1 PTCs     CRISIL AA (SO) -       Upgraded from
Satin Creditcare Network Ltd)                                                     CRISIL A (SO)
Vivriti Naboo 002 2018 (Originator:     Series A2 PTCs     CRISIL AA-     -       Upgraded from
Satin Creditcare Network Ltd)                              (SO)                   CRISIL A- (SO)
Vulcan Industrial Engineering Co. Ltd   CC                 CRISIL BBB     100     Assigned
Wind World Wind Farms (Karnataka) Ltd   TL                 CRISIL BBB+    280     Assigned
Yazaki India Pvt Ltd                    WC Demand Loan^^   CRISIL A-      240     Upgraded from
                                                                                  CRISIL BBB+
^^Interchangeable with Buyer`s Credit and Overdraft
Yazaki India Pvt Ltd                    WC Demand Loan#    CRISIL A-      300     Upgraded from
                                                                                  CRISIL BBB+
#Interchangeable with Vendor Bill Discounting
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

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

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

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