March 14, 2019 / 7:11 AM / 4 months ago

CRISIL ratings for Indian debt instruments-Mar 14

    Mar 14 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of March 13, 2019.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aerobok Shoe Pvt Ltd                    LOC                CRISIL A2      50      Upgraded from
                                                                                  CRISIL A3+
(Removed from Rating Watch with Positive Implications)
Angel Fibers Ltd                        BG                 CRISIL A4      15      -
(Issuer Not Cooperating)
Aqualite Industries Pvt Ltd             LOC                CRISIL A2      20      Upgraded from
                                                                                  CRISIL A3+
(Removed from Rating Watch with Positive Implications)
Aqualite Rubbers and Plastics Pvt Ltd   Foreign Exchange   CRISIL A2      1.8     Upgraded from
                                        Forward                                   CRISIL A3+
(Removed from Rating Watch with Positive Implications)
Arm Welders Pvt Ltd                     BG                 CRISIL A4      30      Reaffirmed
Avon Tubetech Pvt Ltd                   BG                 CRISIL A4+     5       Upgraded from
                                                                                  CRISIL A4
Avon Tubetech Pvt Ltd                   Inland/Import LOC  CRISIL A4+     215     Upgraded from
                                                                                  CRISIL A4
Avon Tubetech Pvt Ltd                   LOC                CRISIL A4+     150     Upgraded from
                                                                                  CRISIL A4
Basant Agencies                         BG                 CRISIL A4+     8       Assigned
(Suspension Revoked)
Bhartia Infra Projects Ltd              BG                 CRISIL A2+     4120    Reaffirmed
Bhartia Infra Projects Ltd              Proposed BG        CRISIL A2+     1520    Reaffirmed
Brij Mohan                              BG                 CRISIL A4      14.5    Assigned
Cliff Scaffoldings Pvt Ltd              LOC                CRISIL A4      40      Reaffirmed
Cliff Scaffoldings Pvt Ltd              Packing Credit     CRISIL A4      110     Reaffirmed
Climax Synthetics Pvt Ltd               BG                 CRISIL A4+     38      Upgraded from
                                                                                  CRISIL A4
Climax Synthetics Pvt Ltd               LOC                CRISIL A4+     70      Upgraded from
                                                                                  CRISIL A4
Das Processors                          BG                 CRISIL A4+     30      Assigned
Devi Polymers Pvt Ltd                   BG                 CRISIL A3+     10      Reassigned
Devi Polymers Pvt Ltd                   LOC                CRISIL A3+     10      Reassigned
Eastern Navigation Pvt Ltd              BG                 CRISIL A3      90      Assigned
(Suspension Revoked)
Eastern Navigation Pvt Ltd              Proposed BG        CRISIL A3      60      Assigned
(Suspension Revoked)
Ecko Cables Pvt Ltd                     BG                 CRISIL A4      10      Reaffirmed
Ecko Cables Pvt Ltd                     LOC                CRISIL A4      40      Reaffirmed
Global Coal and Mining Pvt Ltd          BG                 CRISIL A2+     7000    Reaffirmed
GSM Plus India                          Packing Credit     CRISIL A4+     100     Reaffirmed
ICICI Securities Primary Dealership Ltd CP^                CRISIL A1+     15000   Reaffirmed
(Enhanced from Rs.1000 Crore),^earlier short term debt

Jamshedpur Transport Co Ltd             BG                 CRISIL A4+     25      Reaffirmed
Joyalukkas India Pvt Ltd                ST Loan            CRISIL A1      950
K.Remash Babu                           BG                 CRISIL A4      3.1     Reaffirmed
Kulkarni Power Tools Ltd                BG                 CRISIL A4      7.5     -
(Issuer Not Cooperating)
Kulkarni Power Tools Ltd                LOC                CRISIL A4      77.5    -
(Issuer Not Cooperating)
Kulkarni Power Tools Ltd                Packing Credit     CRISIL A4      25      -
(Issuer Not Cooperating)
Leena Electro Mechanical Pvt Ltd        BG                 CRISIL A4+     95      Reaffirmed
Leena Electro Mechanical Pvt Ltd        LOC                CRISIL A4+     95      Reaffirmed
Leena Electro Mechanical Pvt Ltd        Overdraft          CRISIL A4+     15      Reaffirmed
Menzies Aviation Bobba (Bangalore) Pvt  BG                 CRISIL A1      500     Reaffirmed
Ltd
Muthoot Fincorp Ltd Vivriti Greig 10    Series A1 PTCs     CRISIL A1+(SO) 1498.4  Assigned
2018
Converted from Provisional Rating to Final Rating
N. S. Nayak and Sons                    BG                 CRISIL A4+     220     Reaffirmed
NTPC Ltd                                BG                 CRISIL A1+     19900   Reaffirmed
NTPC Ltd                                LOC                CRISIL A1+     30100   Reaffirmed
NTPC Ltd                                Proposed BG        CRISIL A1+     10000   Reaffirmed
NTPC Ltd                                CP                 CRISIL A1+     180000  Reaffirmed
(Enhanced from Rs.16000 Crore)
Opal Polymers Pvt Ltd                   LOC                CRISIL A2      30      Upgraded from
                                                                                  CRISIL A3+
Pooja Cotspin Ltd                       BG                 CRISIL A3      10.7    Withdrawn
(Issuer Not Cooperating)
Porwal Auto Components Ltd              BG                 CRISIL A3+     2       Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Porwal Auto Components Ltd              LOC                CRISIL A3+     7       Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Regency Hospital Ltd                    LOC & BG           CRISIL A3      40      Assigned
Shakthi Electricals Chennai Pvt Ltd     BG                 CRISIL A4+     52.5    Reaffirmed
Shree Shakti Construction               BG                 CRISIL A4+     20      Assigned
(Suspension Revoked)
Smruthi Organics Ltd                    BG                 CRISIL A4      10      -
(Issuer Not Cooperating)
Smruthi Organics Ltd                    LOC                CRISIL A4      90      -
(Issuer Not Cooperating)

Soltex Petro Products Ltd               LOC                CRISIL A3+     30      CRISIL A3+
Spectra and Star Convergence Ltd        BG                 CRISIL A3      110     Reaffirmed
Sri Kangeyaa Textiles Pvt Ltd           BG                 CRISIL A4+     5       Reassigned
Surface Preparation Solutions and       BG                 CRISIL A4      25      Migrated from
Technologies Pvt Ltd                                                              CRISIL A4
(Issuer Not Cooperating)
The United Engineers                    Proposed BG        CRISIL A4      60      Assigned
Vishal Construction                     BG                 CRISIL A4      34.5    Reaffirmed

MEDIUM TERM RATINGS:
-------------------
NTPC Ltd                                FD                 FAAA           -       Reaffirmed

LONG TERM RATINGS:
-------------------
Aerobok Shoe Pvt Ltd                    CC                 CRISIL BBB+    230     Upgraded from
                                                                                  CRISIL BBB
(Removed from Rating Watch with Positive Implications)
Aerobok Shoe Pvt Ltd                    TL                 CRISIL BBB+    60      Upgraded from
                                                                                  CRISIL BBB
(Removed from Rating Watch with Positive Implications)
Angel Fibers Ltd                        CC                 CRISIL B-      70      -
(Issuer Not Cooperating)
Angel Fibers Ltd                        LT Loan            CRISIL B-      411     -
(Issuer Not Cooperating)
Aqualite India Ltd                      Proposed LT Bk     CRISIL BBB+    125     Upgraded from
                                        Loan Fac                                  CRISIL BBB
(Removed from Rating Watch with Positive Implications)
Aqualite Industries Pvt Ltd             CC                 CRISIL BBB+    400     Upgraded from
                                                                                  CRISIL BBB
(Removed from Rating Watch with Positive Implications)
Aqualite Industries Pvt Ltd             LT Loan            CRISIL BBB+    15      Upgraded from
                                                                                  CRISIL BBB
(Removed from Rating Watch with Positive Implications)
Aqualite Rubbers and Plastics Pvt Ltd   CC                 CRISIL BBB+    25      Upgraded from
                                                                                  CRISIL BBB
(Removed from Rating Watch with Positive Implications)
Aqualite Rubbers and Plastics Pvt Ltd   TL                 CRISIL BBB+    150     Upgraded from
                                                                                  CRISIL BBB
(Removed from Rating Watch with Positive Implications)
Arm Welders Pvt Ltd                     CC                 CRISIL B+      85      Upgraded from
                                                                                  CRISIL B
Arm Welders Pvt Ltd                     TL                 CRISIL B+      45      Upgraded from
                                                                                  CRISIL B
Avon Tubetech Pvt Ltd                   Bill Discounting   CRISIL BB-     20      Upgraded from
                                                                                  CRISIL B
Avon Tubetech Pvt Ltd                   CC                 CRISIL BB-     225     Upgraded from
                                                                                  CRISIL B
Avon Tubetech Pvt Ltd                   Channel Financing  CRISIL BB-     20      Upgraded from
                                                                                  CRISIL B
Avon Tubetech Pvt Ltd                   TL                 CRISIL BB-     115     Upgraded from
                                                                                  CRISIL B
Basant Agencies                         CC                 CRISIL BB      100     Assigned
(Suspension Revoked)
Bhartia Infra Projects Ltd              CC                 CRISIL A-      840     Reaffirmed
Bhartia Infra Projects Ltd              Proposed CC Limit  CRISIL A-      290     Reaffirmed
Bhartia Infra Projects Ltd              Proposed LT Bk     CRISIL A-      870     Reaffirmed
                                        Loan Fac
Bhartia Infra Projects Ltd              WC Demand Loan     CRISIL A-      30      Reaffirmed
Brij Mohan                              Proposed CC Limit  CRISIL B+      15.5    Assigned
Brij Mohan                              Proposed BG        CRISIL B+      45.5    Assigned
Brij Mohan                              CC                 CRISIL B+      4.5     Assigned
Chetmani Ornaments Pvt Ltd              CC                 CRISIL BB+     200     Upgraded from
                                                                                  CRISIL BB
Chetmani Ornaments Pvt Ltd              Proposed LT Bk     CRISIL BB+     50      Upgraded from
                                        Loan Fac                                  CRISIL BB
Climax Synthetics Pvt Ltd               CC                 CRISIL BB-     115     Upgraded from
                                                                                  CRISIL B+
Climax Synthetics Pvt Ltd               Proposed LT Bk     CRISIL BB-     47      Upgraded from
                                        Loan Fac                                  CRISIL B+
Das Processors                          Proposed LT Bk     CRISIL BB      10      Assigned
                                        Loan Fac
Das Processors                          CC                 CRISIL BB      40      Assigned
Devi Polymers Pvt Ltd                   CC                 CRISIL BBB     210     Reaffirmed
Devi Polymers Pvt Ltd                   Proposed Line of   CRISIL BBB     5       Reaffirmed
                                        Credit
Eastern Navigation Pvt Ltd              CC                 CRISIL BBB-    17.5    Assigned
(Suspension Revoked)
Eastern Navigation Pvt Ltd              Proposed FB Bk     CRISIL BBB-    102.5   Assigned
                                        Limits
(Suspension Revoked)
Eastern Navigation Pvt Ltd              TL                 CRISIL BBB-    30      Assigned
Ecko Cables Pvt Ltd                     CC                 CRISIL B       30      Upgraded from
                                                                                  CRISIL B-
Ecko Cables Pvt Ltd                     Proposed CC Limit  CRISIL B       50      Upgraded from
                                                                                  CRISIL B-
Global Coal and Mining Pvt Ltd          CC                 CRISIL A-      550     Reaffirmed
Global Coal and Mining Pvt Ltd          TL                 CRISIL A-      2618.9  Reaffirmed
GSM Plus India                          Proposed LT Bk     CRISIL BB-     12.3    Reaffirmed
                                        Loan Fac
GSM Plus India                          TL                 CRISIL BB-     7.7     Reaffirmed
Hasmukh Parekh Jewellers                WC Fac             CRISIL BBB+    1300    Reaffirmed
ICICI Securities Primary Dealership Ltd Tier II Bonds      CRISIL AAA     5350    Reaffirmed
Jamshedpur Transport Co Ltd             CC/ Overdraft Fac  CRISIL BB+     17      Upgraded from
                                                                                  CRISIL BB
Jamshedpur Transport Co Ltd             LT Loan            CRISIL BB+     24.6    Upgraded from
                                                                                  CRISIL BB
Jamshedpur Transport Co Ltd             Proposed LT Bk     CRISIL BB+     83.4    Upgraded from
                                        Loan Fac                                  CRISIL BB
Joyalukkas India Pvt Ltd                CC^                CRISIL A       3000     -
^Interchangeable with Short Term Loan facility upto Rs 300 crores & Standby Letter of Credit
upto Rs 125 crores
Joyalukkas India Pvt Ltd                CC%                CRISIL A       1250     -
%Interchangeable with Working Capital Demand Loan facility upto Rs 125 crores, Standby Letter of
Credit upto Rs 125 crores & Gold Metal Loan facility upto Rs 25 crores
Joyalukkas India Pvt Ltd                CC$                CRISIL A       750      -
$ Interchangeable with Short Term Loan facility upto Rs 75 crores & Gold Metal Loan upto Rs 75
crores
Joyalukkas India Pvt Ltd                CC#                CRISIL A       750      -
# Interchangeable with Short Term Loan facility upto Rs 75 crores & Standby Letter of Credit
upto Rs 75 crores
Joyalukkas India Pvt Ltd                CC**               CRISIL A       4080     -
** Fully Interchangeable with Short Term Loan facility
Joyalukkas India Pvt Ltd                CC##               CRISIL A       1250     -
## Interchangeable with Working Capital Demand Loan facility upto Rs 125 crores, Standby Letter
of Credit upto Rs 125 crores & Gold Metal Loan facility upto Rs 110 crores 
Joyalukkas India Pvt Ltd                CC&                CRISIL A       450      -
& Interchangeable with Short Term Loan facility upto Rs 45 crores & Standby Letter of Credit
upto Rs 35 crores
Joyalukkas India Pvt Ltd                Proposed LT Bk     CRISIL A       34.6      -
                                        Loan Fac
Joyalukkas India Pvt Ltd                TL                 CRISIL A       585.4     -
Joyalukkas India Pvt Ltd                WC Demand Loan*    CRISIL A       650       -
*Interchangeable with Cash Credit facility upto Rs 65 crores & Gold Metal Loan upto Rs 50 crores
Joyalukkas India Pvt Ltd                WC Demand Loan     CRISIL A       750       -
K.Remash Babu                           CC                 CRISIL B+      3       Reaffirmed
Kulkarni Power Tools Ltd                Bill Discounting   CRISIL B-      6       -
(Issuer Not Cooperating)
Kulkarni Power Tools Ltd                CC                 CRISIL B-      139     -
(Issuer Not Cooperating)
Kulkarni Power Tools Ltd                Mortgage Loan Fac  CRISIL B-      40      -
(Issuer Not Cooperating)
Kulkarni Power Tools Ltd                Proposed LT Bk     CRISIL B-      117.1   -
                                        Loan Fac
(Issuer Not Cooperating)
Kulkarni Power Tools Ltd                TL                 CRISIL B-      69.4    -
(Issuer Not Cooperating)
Leena Electro Mechanical Pvt Ltd        CC                 CRISIL BB-     45      Reaffirmed
Mukul Overseas Pvt Ltd                  CC                 CRISIL BB-     100     Reaffirmed
Mukul Overseas Pvt Ltd                  TL                 CRISIL BB-     60      Reaffirmed
N. S. Nayak and Sons                    Overdraft          CRISIL BB+     20      Reaffirmed
N. S. Nayak and Sons                    TL                 CRISIL BB+     40      Reaffirmed
Nitin Fire Protection Industries Ltd    BG@                CRISIL D       390     -
(Issuer Not Cooperating),@Interchangeable with letter of credit up to Rs 10 crore

Nitin Fire Protection Industries Ltd    CC#                CRISIL D       1125    -
(Issuer Not Cooperating),#Interchangeable with letter of credit and bank guarantee up to Rs 42.5
crore

Nitin Fire Protection Industries Ltd    LOC                CRISIL D       1700    -
(Issuer Not Cooperating)
Nitin Fire Protection Industries Ltd    Proposed CC Limit  CRISIL D       125     -
(Issuer Not Cooperating)
Nitin Fire Protection Industries Ltd    Proposed LOC       CRISIL D       100     -
(Issuer Not Cooperating)
Nitin Fire Protection Industries Ltd    Standby LOC        CRISIL D       1060    -
(Issuer Not Cooperating)
NTPC Ltd                                CC                 CRISIL AAA     15250   Reaffirmed
NTPC Ltd                                LT Loan            CRISIL AAA     466591.8Reaffirmed
NTPC Ltd                                Proposed CC Limit  CRISIL AAA     14750   Reaffirmed
NTPC Ltd                                Proposed CC Limit@ CRISIL AAA     50000   Reaffirmed
@Fully Interchangeable with Short term Loan and Working Capital Demand Loan
NTPC Ltd                                Proposed LT Bk     CRISIL AAA     183408.2Reaffirmed
                                        Loan Fac
NTPC Ltd                                Bond Issue         CRISIL AAA     161900  Reaffirmed
NTPC Ltd                                NCD                CRISIL AAA     348343.3Reaffirmed
NTPC Ltd                                NCD                CRISIL AAA     4725    Reaffirmed
Opal Polymers Pvt Ltd                   CC                 CRISIL BBB+    150     Upgraded from
                                                                                  CRISIL BBB
                                                                                  Removed from
Rating Watch with Positive Implications
Opal Polymers Pvt Ltd                   TL                 CRISIL BBB+    20      Upgraded from
                                                                                  CRISIL BBB
                                                                                  Removed from
Rating Watch with Positive Implications
Pioneer Industries Ltd                  CC                 CRISIL BBB     280     Reaffirmed
Pioneer Industries Ltd                  TL                 CRISIL BBB     111.8   Reaffirmed
Pooja Cotspin Ltd                       CC                 CRISIL BBB-    46      Withdrawn
(Issuer Not Cooperating)
Pooja Cotspin Ltd                       TL                 CRISIL BBB-    139.5   Withdrawn
(Issuer Not Cooperating)
Porwal Auto Components Ltd              CC                 CRISIL BBB     75      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Porwal Auto Components Ltd              Proposed LT Bk     CRISIL BBB     22.4    Rating
                                        Loan Fac                                  Migrated
(Issuer Not Cooperating)
Porwal Auto Components Ltd              TL                 CRISIL BBB     77.6    Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Powermax Rubber Factory                 CC                 CRISIL D       30      Rating
                                                                                  reaffirmed
                                                                                  and Withdrawn
Powermax Rubber Factory                 Cash TL            CRISIL D       60      Rating
                                                                                  reaffirmed
                                                                                  and Withdrawn
Powermax Rubber Factory                 Proposed LT Bk     CRISIL D       10      Rating
                                        Loan Fac                                  reaffirmed
                                                                                  and Withdrawn
Regency Hospital Ltd                    CC                 CRISIL BBB-    254     Reaffirmed
Removed from Rating Watch with Developing Implications Rating Reaffirmed 
Regency Hospital Ltd                    LT Loan            CRISIL BBB-    1336    Reaffirmed
Removed from Rating Watch with Developing Implications Rating Reaffirmed 
Regency Hospital Ltd                    TL                 CRISIL BBB-    300     Reaffirmed
Removed from Rating Watch with Developing Implications Rating Reaffirmed 
Rosebay Polymers Pvt Ltd                CC                 CRISIL BBB+    100     Upgraded from
                                                                                  CRISIL BBB  
(Removed from Rating Watch with Positive Implications)
Rosebay Polymers Pvt Ltd                TL                 CRISIL BBB+    100     Upgraded from
                                                                                  CRISIL BBB  
(Removed from Rating Watch with Positive Implications)
Roselabs Ltd                            CC                 CRISIL D       80      -
(Issuer Not Cooperating)
Roselabs Ltd                            Inland/Import LOC  CRISIL D       15      -
(Issuer Not Cooperating)
Roselabs Ltd                            Proposed LT Bk     CRISIL D       5       -
                                        Loan Fac
(Issuer Not Cooperating)
Shakthi Electricals Chennai Pvt Ltd     CC                 CRISIL BB-     27.5    Reaffirmed
Shree Shakti Construction               CC                 CRISIL BB-     85      Assigned
(Suspension Revoked)
Shree Shakti Construction               Proposed LT Bk     CRISIL BB-     5       Assigned
                                        Loan Fac
(Suspension Revoked)
Siddhivinayak Poultry Breeding Farm and CC                 CRISIL BB-     75      Reaffirmed
Hatcheries Pvt Ltd
Siddhivinayak Poultry Breeding Farm and Proposed CC Limit  CRISIL BB-     45      Reaffirmed
Hatcheries Pvt Ltd
Siddhivinayak Poultry Breeding Farm and Proposed TL        CRISIL BB-     27.5    Reaffirmed
Hatcheries Pvt Ltd
Siddhivinayak Poultry Breeding Farm and TL                 CRISIL BB-     52.5    Reaffirmed
Hatcheries Pvt Ltd
Smruthi Organics Ltd                    CC                 CRISIL BB-     240     -
(Issuer Not Cooperating)
Smruthi Organics Ltd                    Proposed LT Bk     CRISIL BB-     230.4   -
                                        Loan Fac
(Issuer Not Cooperating)
Smruthi Organics Ltd                    TL                 CRISIL BB-     114.6   -
(Issuer Not Cooperating)
Smruthi Organics Ltd                    WC TL              CRISIL BB-     60      -
(Issuer Not Cooperating)
Soh Med Care Pvt Ltd                    CC                 CRISIL BB      45      Reaffirmed
Soh Med Care Pvt Ltd                    LT Loan            CRISIL BB      17      Reaffirmed
Soh Med Care Pvt Ltd                    Proposed LT Bk     CRISIL BB      8       Reaffirmed
                                        Loan Fac
Soltex Petro Products Ltd               CC                 CRISIL BBB     499     CRISIL BBB
Soltex Petro Products Ltd               LT Loan            CRISIL BBB     67.2    CRISIL BBB
Soltex Petro Products Ltd               Proposed FB Bk     CRISIL BBB     3.8     CRISIL BBB
                                        Limits
Spectra and Star Convergence Ltd        CC                 CRISIL BBB-    590     Reaffirmed
Sri Kangeyaa Textiles Pvt Ltd           CC                 CRISIL BB-     30      Reaffirmed
Sri Kangeyaa Textiles Pvt Ltd           Proposed LT Bk     CRISIL BB-     10      Reaffirmed
                                        Loan Fac
Sri Kangeyaa Textiles Pvt Ltd           LT Loan            CRISIL BB-     15      Reaffirmed
Sri Padmavati Energy Solutions India    CC                 CRISIL B+      50      Withdrawn
Pvt Ltd
(Issuer Not Cooperating)
Sri Padmavati Energy Solutions India    LT Loan            CRISIL B+      55      Withdrawn
Pvt Ltd
(Issuer Not Cooperating)
Sri Padmavati Energy Solutions India    Proposed LT Bk     CRISIL B+      95      Withdrawn
Pvt Ltd                                 Loan Fac
(Issuer Not Cooperating)
Star Realcon Pvt Ltd                    Proposed LT Bk     CRISIL D       5       Downgraded
                                        Loan Fac                                  from CRISIL B
Star Realcon Pvt Ltd                    Secured Overdraft  CRISIL D       85      Downgraded
                                        Fac                                       from CRISIL B
Surface Preparation Solutions and       CC                 CRISIL B       50      Migrated from
Technologies Pvt Ltd                                                              CRISIL B
(Issuer Not Cooperating)
Surface Preparation Solutions and       Proposed LT Bk     CRISIL B       7.9     Migrated from
Technologies Pvt Ltd                    Loan Fac                                  CRISIL B
(Issuer Not Cooperating)
Suryaa Chamball Power Ltd               CC                 CRISIL BBB-    70      Upgraded from
                                                                                  CRISIL BB+
Suryaa Chamball Power Ltd               CC/ Overdraft Fac  CRISIL BBB-    67.5    Upgraded from
                                                                                  CRISIL BB+
Suryaa Chamball Power Ltd               Proposed LT Bk     CRISIL BBB-    226.3   Upgraded from
                                        Loan Fac                                  CRISIL BB+
Suryaa Chamball Power Ltd               TL                 CRISIL BBB-    9.2     Upgraded from
                                                                                  CRISIL BB+
The United Engineers                    Proposed CC Limit  CRISIL B+      40      Assigned
Trisha Trends Pvt Ltd                   CC                 CRISIL B+      60      Reaffirmed
Trisha Trends Pvt Ltd                   Proposed LT Bk     CRISIL B+      40      Reaffirmed
                                        Loan Fac
U. D. Food Products Pvt Ltd             CC                 CRISIL BB-     50      Reaffirmed
U. D. Food Products Pvt Ltd             Proposed FB Bk     CRISIL BB-     3.5     Reaffirmed
                                        Limits
U. D. Food Products Pvt Ltd             Rupee TL           CRISIL BB-     26.5    Reaffirmed
U. D. Food Products Pvt Ltd             Warehouse Receipts CRISIL BB-     10      Reaffirmed
Vishal Construction                     CC                 CRISIL B       30      Reaffirmed
Vishal Construction                     LT Loan            CRISIL B       20      Reaffirmed
Vishal Construction                     Proposed WC Fac    CRISIL B       15.5    Reaffirmed
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

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

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

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