March 25, 2020 / 9:35 AM / 5 days ago

CRISIL ratings for Indian debt instruments-Mar 25

    Mar 25  - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of March 24, 2020.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Adoratex                                Post Shipment      CRISIL A4      120     Revised from
                                        Credit                                    CRISIL A4+
(Issuer Not Cooperating)
Adoratex                                Pre Shipment CreditCRISIL A4      110     Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Adwaith Textiles Pvt Ltd                BG                 CRISIL A4+     10      Reaffirmed
Allied Aviation Pvt Ltd                 BG                 CRISIL A3+     323     Reaffirmed
Asian Fabricx Pvt Ltd                   BG                 CRISIL A2+     10      Reaffirmed
Asian Fabricx Pvt Ltd                   LOC                CRISIL A2+     30      Reaffirmed
Asian Fabricx Pvt Ltd                   Packing Credit     CRISIL A2+     450     Reaffirmed
Averina International Resorts Pvt Ltd   BG                 CRISIL A4+     26      Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Balbir Rolling Mills Pvt Ltd            BG                 CRISIL A4+     80      Reaffirmed
Blue Star Air Travel Services (India)   BG                 CRISIL A4+     5       Downgraded
Pvt Ltd                                                                           from CRISIL A3
BNP Paribas Global Securities           BG                 CRISIL A1+     20      Reaffirmed
Operations Pvt Ltd
C & E Ltd                               BG                 CRISIL A3      5       Reaffirmed
C & E Ltd                               Inland/Import LOC  CRISIL A3      25      Reaffirmed
Caspro Metal Industries Pvt Ltd         BG                 CRISIL A3+     2.5     Assigned;
                                                                                  Suspension
                                                                                  revoked
CCI Logistics Ltd                       BG                 CRISIL A3+     10      Reassigned
Daawat Foods Ltd                        LOC & BG           CRISIL A2+     50      Reaffirmed
Daawat Foods Ltd                        Proposed NFBL      CRISIL A2+     75      Reaffirmed
Daipayan Agro Food Product Pvt Ltd      BG                 CRISIL A4      3       Reaffirmed
Deedy Chemicals Pvt Ltd                 Proposed ST Bk     CRISIL A3+     86.5    Reassigned
                                        Loan Fac
Diana Buildwell Pvt Ltd                 BG                 CRISIL A3      200     Reaffirmed
Divine Mission Educational Trust        Overdraft          CRISIL A4+     30      Assigned
Doka India Pvt Ltd                      LOC                CRISIL A4+     50      Reaffirmed
                                                                                  and withdrawn
Future Consumer Ltd                     CP                 CRISIL A1      1000
(Placed on Rating Watch with Negative Implications)
Gadre Marine Export                     BG                 CRISIL A2      10
Placed on Rating Watch with Negative Implications
Gadre Marine Export                     Packing Credit     CRISIL A2      180
Placed on Rating Watch with Negative Implications
Gadre Marine Export Pvt Ltd             Packing Credit     CRISIL A1      1830
Placed on Rating Watch with Negative Implications
Gadre Marine Export Pvt Ltd             BG                 CRISIL A1      30
Placed on Rating Watch with Negative Implications
Ganapathi Stone Crusher                 BG                 CRISIL A4+     180     Assigned
Global Kitchens (Kolkata) LLP           BG                 CRISIL A4+     5       Downgraded
                                                                                  from CRISIL A3
Indiabulls Commercial Credit Ltd        NCD*               20000                  Reaffirmed
Outlook revised from Stable/ *public issue of retail secured redeemable non-convertible
debenture
Indiabulls Commercial Credit Ltd        NCD*               30000                  Reaffirmed
Outlook revised from Stable/ *public issue of retail secured redeemable non-convertible
debenture
Indiabulls Commercial Credit Ltd        CP Programme       30000                  Reaffirmed
Indiabulls Commercial Credit Ltd        NCD@               5000                   Reaffirmed
Outlook revised from Stable/ @public issue of retail unsecured redeemable non-convertible
debenture
Indiabulls Commercial Credit Ltd        Subordinated Debt  5000                   Reaffirmed
Outlook revised from Stable
Indiabulls Commercial Credit Ltd        NCDs               14500                  Reaffirmed
Outlook revised from Stable
Indiabulls Housing Finance Ltd          ST NCD Programme   CRISIL A1+     10000   Reaffirmed
Indiabulls Housing Finance Ltd          CP Programme       CRISIL A1+     250000  Reaffirmed
Jain Amar Clothing Pvt Ltd              Overdraft          CRISIL A4+     22.5    Reaffirmed
Johnson Lifts Pvt Ltd                   BG                 CRISIL A1+     1500    Reaffirmed
                                                                                  and Withdrawn
K. N. C. Agro Ltd                       BG                 CRISIL A4+     10      Reaffirmed
K. N. C. Agro Ltd                       Bill Discounting   CRISIL A4+     250     Reaffirmed
                                        under LOC
K. N. C. Agro Ltd                       Proposed Bill      CRISIL A4+     40      Reaffirmed
                                        Discounting Fac
Kamdhenu Udyog Pvt Ltd                  Proposed NFBL      CRISIL A3      0.4     Reaffirmed
Kanwarji Construction Company           BG                 CRISIL A3      660     Reaffirmed
Kashmir Walnut Overseas Pvt Ltd         Packing Credit     CRISIL A4+     50      Reaffirmed
Krishi Nutrition Company Pvt Ltd        BG                 CRISIL A4+     1.4     Reassigned
Krishi Nutrition Company Pvt Ltd        Import LOC Limit   CRISIL A4+     17      Reassigned
LT Foods Ltd                            LOC & BG           CRISIL A2+     526     Reaffirmed
LT Foods Ltd                            Non-FBL            CRISIL A2+     80      Reaffirmed
LT Foods Ltd                            Proposed NFBL      CRISIL A2+     114     Reaffirmed
Lumax Auto Technologies Ltd             CP                 CRISIL A1+     500     Reaffirmed
M Suresh Company Pvt Ltd                Foreign Exchange   CRISIL A2+     50
                                        Forward
Continues on Rating Watch with Developing Implications
M Suresh Company Pvt Ltd                Post Shipment      CRISIL A2+     2611
                                        Credit
Continues on Rating Watch with Developing Implications
Mayfair Hotels and Resorts (Sikkim) Pvt Overdraft          CRISIL A4+     10      Downgraded
Ltd                                                                               from CRISIL A3
Mayfair Hotels and Resorts Ltd          BG                 CRISIL A4+     10      Downgraded
                                                                                  from CRISIL A3
Mumbai International Airport Ltd        BG                 CRISIL A3+     3300    Downgraded
                                                                                  from CRISIL
                                                                                  A2+
Continues on Rating Watch with Negative Implications
Mumbai International Airport Ltd        LOC                CRISIL A3+     2500    Downgraded
                                                                                  from CRISIL
                                                                                  A2+
Continues on Rating Watch with Negative Implications
Narayan Industries                      Bill Discounting   CRISIL A3+     20      Reaffirmed
Narayan Industries                      Packing Credit     CRISIL A3+     80      Reaffirmed
Narayan International                   Bill Discounting   CRISIL A3+     60      Reaffirmed
Narayan International                   Packing Credit     CRISIL A3+     40      Reaffirmed
Narayan International                   Proposed Bill      CRISIL A3+     50      Reaffirmed
                                        Discounting Fac
Nature Bio-Foods Ltd                    LOC & BG           CRISIL A2+     50      Reaffirmed
Nature Bio-Foods Ltd                    Non-FBL            CRISIL A2+     170     Reaffirmed
Nezami Rekha Sea Foods Pvt Ltd          Export Packing     CRISIL A4+     210     Reaffirmed
                                        Credit
Niswin Foods Pvt Ltd                    Foreign Exchange   CRISIL A4      55      Assigned
                                        Forward
Oswal Pumps Ltd                         BG                 CRISIL A4      7.5     Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Oswal Pumps Ltd                         Foreign LOC        CRISIL A4      5       Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Pee Aar International Pvt Ltd           Proposed ST Bk     CRISIL D       1
                                        Loan Fac
(Issuer Not Cooperating)
P.T. Sreenivasan                        BG                 CRISIL A4+     33      Reaffirmed
Pal and Paul Builders Ltd               Overdraft          CRISIL A4      50
(Issuer Not Cooperating)
Palmetto Industries India Pvt Ltd       LOC                CRISIL A4      35
(Issuer Not Cooperating)
Palmetto Industries India Pvt Ltd       Packing Credit in  CRISIL A4      55
                                        Foreign Currency
(Issuer Not Cooperating)
Panda Retail Pvt Ltd                    LOC                CRISIL A4      5       Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Panini Granites Pvt Ltd                 LOC                CRISIL A4      25
(Issuer Not Cooperating)
Parksons Graphics Prop, Abhi - Ani Mfg. BG                 CRISIL A4      5        Revised from
Co. Pvt Ltd                                                                       CRISIL A4+
(Issuer Not Cooperating)
Parksons Graphics Pvt Ltd               BG                 CRISIL A4      3       Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Penguin Petroleum Services Pvt Ltd      Overdraft          CRISIL A4      12.5    Migrated from
                                                                                  CRISIL D
(Issuer Not Cooperating)
Penguin Petroleum Services Pvt Ltd      Packing Credit     CRISIL A4      82.5    Migrated from
                                                                                  CRISIL D
(Issuer Not Cooperating)
Pipada Motors                           Inventory Funding  CRISIL A4      30
                                        Fac
(Issuer Not Cooperating)
PJR Project Constructions Pvt Ltd       BG                 CRISIL A4      300     Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
PMC Rubber Chemicals India Pvt Ltd      BG                 CRISIL A4      10
(Issuer Not Cooperating)
PMC Rubber Chemicals India Pvt Ltd      LOC                CRISIL A4      112.5
(Issuer Not Cooperating)
Prachi Leathers Pvt Ltd                 LOC & BG           CRISIL A4      5       Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Preet Machines Ltd                      BG                 CRISIL A4      100     Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Priyanka Infra Pvt Ltd                  BG                 CRISIL A4      100
(Issuer Not Cooperating)
PTS HITECH PROJECTS India Pvt Ltd       BG                 CRISIL A4+     60      Reaffirmed
Quantum Power Systems                   BG                 CRISIL A4+     50      Reaffirmed
Quro Vitrified Pvt Ltd                  BG                 CRISIL A4      30      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Raghunath Agro Industries Pvt Ltd       LOC & BG           CRISIL A2+     50      Reaffirmed
Rainbow Infrastructure Pvt Ltd          BG                 CRISIL A4      30
(Issuer Not Cooperating)
Rainbow Infrastructure Pvt Ltd          Proposed ST Bk     CRISIL A4      50
                                        Loan Fac
(Issuer Not Cooperating)
Rajasthan Metals                        CC                 CRISIL A4+     60      Reaffirmed
                                                                                  and Withdrawn
Rajasthan Metals                        LOC                CRISIL A4+     140     Reaffirmed
                                                                                  and Withdrawn
Rajasthan Metals                        Proposed FB Bk     CRISIL A4+     100     Reaffirmed
                                        Limits                                    and Withdrawn
Rajesh Varkey                           BG                 CRISIL A4      60      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Ram Impex Corporation                   LOC                CRISIL A4      150     Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Ramkrishna Agencies                     BG                 CRISIL A4      60      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Raosahebdada Pawar Ghodganga Sahakari   ST Loan            CRISIL A4      92
Sakhar Karkhana Ltd
(Issuer Not Cooperating)
Rational Business Corporation Pvt Ltd   LOC                CRISIL A4      41.5    Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Rational Business Corporation Pvt Ltd   LOC & BG           CRISIL A4      58.5    Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Rational Business Corporation Pvt Ltd   Proposed ST Bk     CRISIL A4      21.5    Revised from
                                        Loan Fac                                  CRISIL A4+
(Issuer Not Cooperating)
Ratnakala Exports Pvt Ltd               Foreign Exchange   CRISIL A2      68.8
                                        Forward
Continues on Rating Watch with Developing Implications
Ratnakala Exports Pvt Ltd               Post Shipment      CRISIL A2      150
                                        Credit
Continues on Rating Watch with Developing Implications
Ravi Realcon Pvt Ltd                    BG                 CRISIL A4      20
(Issuer Not Cooperating)
Riddhi Autowheels Pvt Ltd               Overdraft          CRISIL A4      50
(Issuer Not Cooperating)
Rishi Laser Ltd                         Sales Bill         CRISIL A4      50      Reaffirmed
                                        Discounting                               and Withdrawn
Riya Travel and Tours India Pvt Ltd     BG                 CRISIL A2      805     Reaffirmed
Riya Travel and Tours India Pvt Ltd     Overdraft          CRISIL A2      450     Reaffirmed
Rotocast Industries Ltd                 BG                 CRISIL A4      4       Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Rotocast Industries Ltd                 LOC                CRISIL A4      15      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Roy Agrovets Pvt Ltd                    BG                 CRISIL A4+     2       Downgraded
                                                                                  from CRISIL A3
Royal Constructions                     BG                 CRISIL A4      14
(Issuer Not Cooperating)
Ruhan Teppich Exports.                  Post Shipment      CRISIL A4      70
                                        Credit
(Issuer Not Cooperating)
Sadbhav Ceramics                        BG                 CRISIL A4      16
(Issuer Not Cooperating)
Safir Enterprises                       LOC                CRISIL A4      40
(Issuer Not Cooperating)
Saj Jewellery Pvt Ltd                   Foreign            CRISIL A4      35
                                        Documentary Bills
                                        Purchase
(Issuer Not Cooperating)
Saj Jewellery Pvt Ltd                   Packing Credit     CRISIL A4      35
(Issuer Not Cooperating)
Sanghvi International                   Inland/Import LOC  CRISIL A4+     20      Reaffirmed
Saraca Laboratories Ltd                 BG                 CRISIL A2      10      Downgraded
                                                                                  from CRISIL
                                                                                  A2+
Removed from Rating Watch with Negative Implications 
Saraca Laboratories Ltd                 LOC                CRISIL A2      250     Downgraded
                                                                                  from CRISIL
                                                                                  A2+
Removed from Rating Watch with Negative Implications 
Shree Bharat Motors Ltd                 Overdraft          CRISIL A4      30      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Silver Sea Food                         Export Packing     CRISIL A2      400     Reaffirmed
                                        Credit
Subham Enterprises                      LOC                CRISIL A4      90
(Issuer Not Cooperating)
Sunbeam Lightweighting Solutions Pvt LtdCP                 CRISIL A1      350     Downgraded
                                                                                  from CRISIL
                                                                                  A1+)
Super Dynic Clothing Pvt Ltd            Bill Discounting   CRISIL A4+     5       Reaffirmed
Super Dynic Clothing Pvt Ltd            Packing Credit     CRISIL A4+     10      Reaffirmed
Tech Data Advanced Solutions (India)    LOC                CRISIL A2+     60
Pvt Ltd
Continues on Rating Watch with Negative Implications
Tech Data Advanced Solutions (India)    Overdraft          CRISIL A2+     136
Pvt Ltd
Continues on Rating Watch with Negative Implications
Technocrats Plasma Systems Pvt Ltd      BG                 CRISIL A4      9.5
(Issuer Not Cooperating)
Transoceanic Agro Comm Pvt Ltd          LOC                CRISIL A4      1691    Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Vega Auto Accessories Pvt Ltd           BG                 CRISIL A4+     30      Migrated from
                                                                                  CRISIL A2+
(Issuer Not Cooperating)
A S Marine Industries Pvt Ltd           Ratings            -              -
 CRISIL is yet to receive adequate information from A S Marine Industries
Private Limited (ASM) to enable it to undertake a rating review. CRISIL is taking all possible
efforts to get the rated entity to cooperate with its rating process for enabling it to carry
out the rating review. 
 
LONG TERM RATINGS:
-------------------
ACR Machining Pvt Ltd                   CC                 CRISIL         15      Assigned
                                                           BBB/Stable
ACR Machining Pvt Ltd                   Proposed LT Bk     CRISIL         30      Assigned
                                        Loan Fac           BBB/Stable
Adoratex                                CC                 CRISIL         70      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Adoratex                                Proposed TL        CRISIL         50      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Adoratex                                TL                 CRISIL         50      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Adwaith Textiles Pvt Ltd                CC/ Overdraft Fac  CRISIL         200     Reaffirmed
                                                           BB/Stable
Adwaith Textiles Pvt Ltd                Proposed LT Bk     CRISIL         10      Reaffirmed
                                        Loan Fac           BB/Stable
Adwaith Textiles Pvt Ltd                TL                 CRISIL         160     Reaffirmed
                                                           BB/Stable
Air India Ltd                           NCD                CRISIL AAA(CE) 55000   Reaffirmed
Air India Ltd                           NCD                CRISIL AAA(CE) 74000   Reaffirmed
Air India Ltd                           NCD                CRISIL BB+(CE) 7000    Downgraded
                                                                                  from CRISIL
                                                                                  AAA(CE)
Continues on Rating Watch with Negative Implications)
Allied Aviation Pvt Ltd                 CC                 CRISIL         25      Reaffirmed
                                                           BBB/Negative
Outlook revised from Stable
Allied Aviation Pvt Ltd                 LT Loan            CRISIL         2       Reaffirmed
                                                           BBB/Negative
Outlook revised from Stable
Asian Fabricx Pvt Ltd                   LT Loan            CRISIL         50      Reaffirmed
                                                           A-/Stable
Asian Fabricx Pvt Ltd                   Proposed LT Bk     CRISIL         442.7   Reaffirmed
                                        Loan Fac           A-/Stable
Atishaya Poly Pett Pvt Ltd              CC                 CRISIL BB-     47.5    Reaffirmed
Atishaya Poly Pett Pvt Ltd              TL                 CRISIL BB-     6.2     Reaffirmed
Averina International Resorts Pvt Ltd   Overdraft          CRISIL         60      Downgraded
                                                           BB+/Negative           from CRISIL
                                                                                  BBB/Stable
Averina International Resorts Pvt Ltd   Rupee TL           CRISIL         113.8   Downgraded
                                                           BB+/Negative           from CRISIL
                                                                                  BBB/Stable
Baazar Style Retail Pvt Ltd             CC                 CRISIL         390     Reaffirmed
                                                           BBB+/Negative
Outlook revised from Stable
Baazar Style Retail Pvt Ltd             Proposed FB Bk     CRISIL         140.7   Reaffirmed
                                        Limits             BBB+/Negative
Outlook revised from Stable
Baazar Style Retail Pvt Ltd             TL                 CRISIL         219.3   Reaffirmed
                                                           BBB+/Negative
Outlook revised from Stable
Balbir Rolling Mills Pvt Ltd            CC                 CRISIL         440     Reaffirmed
                                                           BB+/Stable
Balbir Rolling Mills Pvt Ltd            TL                 CRISIL         20      Reaffirmed
                                                           BB+/Stable
Blue Star Air Travel Services (India)   CC                 CRISIL         120     Downgraded
Pvt Ltd                                                    BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
BNP Paribas Global Securities           CC*                CRISIL AAA     440     Reaffirmed
Operations Pvt Ltd
*includes sublimit of Export Packing Credit/Export Post Shipment Credit of Rs.44.00 crore
BNP Paribas Global Securities           Proposed LT Bk     CRISIL AAA     780     Reaffirmed
Operations Pvt Ltd                      Loan Fac
BNP Paribas India Solutions Pvt Ltd     WC Demand Loan*    CRISIL AAA     300     Reaffirmed
*Interchangeable with letter of credit to the extent of Rs 3 Cr and bank guarantee to the extent
of Rs 8 Cr,
Bolton Petforms Pvt Ltd                 CC                 CRISIL B/Stable49      Withdrawn
Bolton Petforms Pvt Ltd                 Proposed LT Bk     CRISIL B/Stable5       Withdrawn
                                        Loan Fac
Bolton Petforms Pvt Ltd                 TL                 CRISIL B/Stable86      Withdrawn
C & E Ltd                               CC*                CRISIL BBB-    165     Reaffirmed
Outlook revised from Stable/*Includes export packing credit limit of Rs. 3.7 crores and foreign
bill discounting limit f Rs. 5.8 crores
C & E Ltd                               Foreign Bill       CRISIL BBB-    20      Reaffirmed
                                        Discounting
Outlook revised from Stable
C & E Ltd                               Proposed FB Bk     CRISIL BBB-    15      Reaffirmed
                                        Limits
Outlook revised from Stable
C & E Ltd                               Proposed TL        CRISIL BBB-    5       Reaffirmed
Outlook revised from Stable
C & E Ltd                               Proposed WC Fac    CRISIL BBB-    15      Reaffirmed
Outlook revised from Stable
C & E Ltd                               Standby Line of    CRISIL BBB-    17.5    Reaffirmed
                                        Credit
Outlook revised from Stable
Camellia Clothing Ltd                   CC                 CRISIL         70      Upgraded from
                                                           B+/Stable              CRISIL
                                                                                  B/Stable
Camellia Clothing Ltd                   Proposed WC Fac    CRISIL         10      Upgraded from
                                                           B+/Stable              CRISIL
                                                                                  B/Stable
Caspro Metal Industries Pvt Ltd         TL                 CRISIL         300     Assigned;
                                                           BBB/Stable             Suspension
                                                                                  revoked
Caspro Metal Industries Pvt Ltd         WC Fac             CRISIL         50      Assigned;
                                                           BBB/Stable             Suspension
                                                                                  revoked
CCI Logistics Ltd                       CC                 CRISIL         110     Reaffirmed
                                                           BBB/Stable
Century 21 Town Planners Pvt Ltd        Lease Rental       CRISIL BBB     1950    Downgraded
                                        Discounting Loan                          from CRISIL
                                                                                  BBB+
Placed on Rating Watch with Negative Implication
Century 21 Town Planners Pvt Ltd        Project Loan       CRISIL BBB     750     Downgraded
                                                                                  from CRISIL
                                                                                  BBB+
Placed on Rating Watch with Negative Implication
Century 21 Town Planners Pvt Ltd        Proposed FB Bk     CRISIL BBB     10      Downgraded
                                        Limits                                    from CRISIL
                                                                                  BBB+
Placed on Rating Watch with Negative Implication
Champa Devi Foods Pvt Ltd               Proposed CC Limit  CRISIL         115     Reaffirmed
                                                           BB/Stable
Chandana Brothers Shopping Mall Pvt Ltd CC                 CRISIL         2050    Reaffirmed
                                                           BBB+/Negative
Outlook revised from Stable
Chandana Brothers Shopping Mall Pvt Ltd LT Loan            CRISIL         297.6   Reaffirmed
                                                           BBB+/Negative
Outlook revised from Stable
Chandana Brothers Shopping Mall Pvt Ltd Proposed LT Bk     CRISIL         175.2   Reaffirmed
                                        Loan Fac           BBB+/Negative
Outlook revised from Stable
Chandana Brothers Shopping Mall Pvt Ltd TL                 CRISIL         577.2   Reaffirmed
                                                           BBB+/Negative
Outlook revised from Stable
Chandana Brothers Textiles and          CC                 CRISIL         920     Reaffirmed
Jewellers Pvt Ltd                                          BBB+/Negative
Outlook revised from Stable
Chandana Brothers Textiles and          TL                 CRISIL         80      Reaffirmed
Jewellers Pvt Ltd                                          BBB+/Negative
Outlook revised from Stable
Chemcon Speciality Chemicals Ltd        CC                 CRISIL BBB     530     Reffirmed
Chirag Goel Enterprises Pvt Ltd         Ratings            -              -
CRISIL is yet to receive adequate information from Chirag Goel
Enterprises Private Limited (CGEPL) to enable it to undertake a rating review. CRISIL is taking
all possible efforts to get the rated entity to cooperate with its rating process for enabling
it to carry out the rating review. 
CSJ Infrastructure Pvt Ltd              Lease Rental       CRISIL A-      12990
                                        Discounting Loan
(Placed on Rating Watch with Negative Implication)
CSJ Infrastructure Pvt Ltd              NCD                CRISIL A-      23
(Placed on Rating Watch with Negative Implication)
CTM Technical Textiles Ltd              Ratings            -              -
CRISIL is yet to receive adequate information from CTM Technical Textiles
Limited (CTM) to enable it to undertake a rating review. CRISIL is taking all possible efforts
to get the rated entity to cooperate with its rating process for enabling it to carry out the
rating review. 
Daawat Foods Ltd                        LT Loan            CRISIL         860     Reaffirmed
                                                           A-/Stable
Outlook revised from Positive
Daawat Foods Ltd                        Proposed FB Bk     CRISIL         1340    Reaffirmed
                                        Limits             A-/Stable
Outlook revised from Positive
Daawat Foods Ltd                        WC Fac             CRISIL         2800    Reaffirmed
                                                           A-/Stable
Outlook revised from Positive
Daipayan Agro Food Product Pvt Ltd      CC                 CRISIL B+      50      Reaffirmed
Daipayan Agro Food Product Pvt Ltd      Rupee TL           CRISIL B+      20      Reaffirmed
Darjeeling Power Pvt Ltd                Ratings            -              -
CRISIL is yet to receive adequate information from Darjeeling Power
Private Limited (DPL) to enable it to undertake a rating review. CRISIL is taking all possible
efforts to get the rated entity to cooperate with its rating process for enabling it to carry
out the rating review. 
Deedy Chemicals Pvt Ltd                 CC                 CRISIL         55      Reaffirmed
                                                           BBB/Stable
Deedy Chemicals Pvt Ltd                 LT Loan            CRISIL         26      Reaffirmed
                                                           BBB/Stable
Diana Buildwell Pvt Ltd                 TL                 CRISIL         1500    Reaffirmed
                                                           BBB-/Negative
Outlook revised from Positive
Dipu Enterprises Pvt Ltd                CC                 CRISIL         120     Reaffirmed
                                                           BB-/Stable
Dipu Enterprises Pvt Ltd                Proposed LT Bk     CRISIL         10.7    Reaffirmed
                                        Loan Fac           BB-/Stable
Dipu Enterprises Pvt Ltd                SME Gold Card      CRISIL         12      Reaffirmed
                                                           BB-/Stable
Dipu Enterprises Pvt Ltd                TL                 CRISIL         7.3     Reaffirmed
                                                           BB-/Stable
Divine Mission Educational Trust        TL                 CRISIL         90      Assigned
                                                           BB-/Stable
Doka India Pvt Ltd                      Proposed LT Bk     CRISIL         75      Reaffirmed
                                        Loan Fac           BB+/Negative           and withdrawn
Doka India Pvt Ltd                      WC Loan            CRISIL         175     Reaffirmed
                                                           BB+/Negative           and withdrawn
Eastern Home Industries                 Ratings            -              -
CRISIL is yet to receive adequate information from Eastern Home
Industries (EHI) to enable it to undertake a rating review. CRISIL is taking all possible
efforts to get the rated entity to cooperate with its rating process for enabling it to carry
out the rating review. 
Elpro International Ltd                 Proposed LT Bk     CRISIL BB      70      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
Placed on Rating Watch with Negative Implication
Elpro International Ltd                 TL                 CRISIL BB      890     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Placed on Rating Watch with Negative Implication
Evolutionary Systems Pvt Ltd            Foreign Bill       CRISIL BBB-    140
                                        Purchase
Placed on Rating Watch with Developing Implication 
Evolutionary Systems Pvt Ltd            Overdraft          CRISIL BBB-    50
Placed on Rating Watch with Developing Implication 
Gadre Marine Export                     Proposed LT Bk     CRISIL BBB+    60
                                        Loan Fac
Placed on Rating Watch with Negative Implications
Gadre Marine Export Pvt Ltd             Foreign Currency TLCRISIL A       295
Placed on Rating Watch with Negative Implications
Gadre Marine Export Pvt Ltd             Foreign LOC        CRISIL A       250
Placed on Rating Watch with Negative Implications
Gadre Marine Export Pvt Ltd             Rupee TL           CRISIL A       100
Placed on Rating Watch with Negative Implications
Gadre Marine Export Pvt Ltd             Standby Line of    CRISIL A       270
                                        Credit
Placed on Rating Watch with Negative Implications
Gadre Marine Export Pvt Ltd             TL                 CRISIL A       1425
Placed on Rating Watch with Negative Implications
Ganapathi Stone Crusher                 TL                 CRISIL         30      Assigned
                                                           BB+/Stable
Ganapathi Stone Crusher                 CC                 CRISIL         90      Assigned
                                                           BB+/Stable
Gaurav Land Developers and Colonizers   Ratings            -              -
Pvt Ltd
CRISIL is yet to receive adequate information from Gaurav Land
Developers and Colonizers Private Limited (GLDCPL) to enable it to undertake a rating review.
CRISIL is taking all possible efforts to get the rated entity to cooperate with its rating
process for enabling it to carry out the rating review. 
Gauravh Wines Pvt Ltd                   Ratings            -              -
CRISIL is yet to receive adequate information from Gauravh Wines Private
Limited (GWPL) to enable it to undertake a rating review. CRISIL is taking all possible efforts
to get the rated entity to cooperate with its rating process for enabling it to carry out the
rating review
GBR Hatcheries Pvt Ltd                  CC                 CRISIL         70      Reaffirmed
                                                           BBB-/Negative
Outlook revised from Stable
GBR Hatcheries Pvt Ltd                  Key CC             CRISIL         30      Reaffirmed
                                                           BBB-/Negative
Outlook revised from Stable
Genesis Colors Ltd                      Proposed WC Fac    CRISIL         450     Withdrawn
                                                           AA/Stable
Genesis La Mode Pvt Ltd                 CC                 CRISIL         270     Withdrawn
                                                           AA/Stable
Genesis La Mode Pvt Ltd                 Proposed LT Bk     CRISIL         50      Withdrawn
                                        Loan Fac           AA/Stable
Genesis Luxury Fashion Pvt Ltd          CC                 CRISIL         280     Withdrawn
                                                           AA/Stable
Genesis Luxury Fashion Pvt Ltd          Proposed LT Bk     CRISIL         40      Withdrawn
                                        Loan Fac           AA/Stable
GLF Lifestyle Brands Pvt Ltd            CC                 CRISIL         30      Withdrawn
                                                           AA-/Stable
GLF Lifestyle Brands Pvt Ltd            Proposed LT Bk     CRISIL         30      Withdrawn
                                        Loan Fac           AA-/Stable
Global Kitchens (Kolkata) LLP           Proposed LT Bk     CRISIL         13      Downgraded
                                        Loan Fac           BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
Global Kitchens (Kolkata) LLP           TL                 CRISIL         117     Downgraded
                                                           BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
GML India Fashion Pvt Ltd               CC                 CRISIL         20      Withdrawn
                                                           AA-/Stable 
GML India Fashion Pvt Ltd               Proposed LT Bk     CRISIL         40      Withdrawn
                                        Loan Fac           AA-/Stable 
H.V.Equipments Pvt Ltd                  Ratings            -              -
CRISIL is yet to receive adequate information from H.V.Equipments Private Limited (HVEPL) to
enable it to undertake a rating review. CRISIL is taking all possible
efforts to get the rated entity to cooperate with its rating process for enabling it to carry
out the rating review.
Hari Bhog Overseas                      Ratings            -              -
CRISIL is yet to receive adequate information from Hari Bhog Overseas (HBO) to enable it to
undertake a rating review. CRISIL is taking all possible efforts to get the rated entity to
cooperate with its rating process for enabling it to carry out the rating review. 
Indiabulls Commercial Credit Ltd        LT Bk Fac          CRISIL         500     Reaffirmed
                                                           AA/Negative
Outlook revised from Stable
Indiabulls Commercial Credit Ltd        Proposed LT Bk     CRISIL         24500   Reaffirmed
                                        Loan Fac           AA/Negative
Outlook revised from Stable
Indiabulls Housing Finance Ltd          Retail Bonds Issue*CRISIL         120000  Reaffirmed
                                                           AA/Negative
Outlook revised from Stable/*Includes secured NCD and unsecured subordinated debt
Indiabulls Housing Finance Ltd          Retail Bonds Issue CRISIL         30000   Reaffirmed
                                        *                  AA/Negative
Outlook revised from Stable/*Includes secured NCD and unsecured subordinated debt
Indiabulls Housing Finance Ltd          NCDs               CRISIL         294800  Reaffirmed
                                                           AA/Negative
Outlook revised from Stable
Indiabulls Housing Finance Ltd          Subordinated Debt  CRISIL         25000   Reaffirmed
                                                           AA/Negative
Outlook revised from Stable
Indiabulls Housing Finance Ltd          CC                 CRISIL         77950   Outlook
                                                           AA/Negative            revised from
                                                                                  Stable and
                                                                                  rating 
                                                                                  reaffirmed
Indiabulls Housing Finance Ltd          LT Bk Fac          CRISIL         330     Outlook
                                                           AA/Negative            revised from
                                                                                  Stable and
                                                                                  rating 
                                                                                  reaffirmed    
                                                                                  Indiabulls
Housing Finance Ltd          Proposed LT Bk     CRISIL         167219.8Outlook
                                        Loan Fac           AA/Negative            revised from
                                                                                  Stable and
                                                                                  rating 
                                                                                  reaffirmed  
Indore Treasure Island Pvt Ltd          TL                 CRISIL A-      1650
Placed on Rating Watch with Negative Implication
Indus Valley Promoters Ltd              Proposed LT Bk     CRISIL         200     Reaffirmed
                                        Loan Fac           B+/Stable
J.C. Brothers Jewellers                 CC                 CRISIL BBB+    350     Reaffirmed
Outlook revised from Stable
J.C. Brothers Jewellers                 Proposed LT Bk     CRISIL BBB+    30      Reaffirmed
                                        Loan Fac
Outlook revised from Stable
J.C. Brothers Jewellers                 TL                 CRISIL BBB+    10      Reaffirmed
Outlook revised from Stable
J.C. Brothers Retail Pvt Ltd            CC                 CRISIL BBB+    520     Reaffirmed
Outlook revised from Stable
J.C. Brothers Retail Pvt Ltd            TL                 CRISIL BBB+    280     Reaffirmed
Outlook revised from Stable
Jain Amar Clothing Pvt Ltd              CC                 CRISIL         420     Reaffirmed
                                                           BB/Stable
Jain Amar Clothing Pvt Ltd              CC & WC demand loanCRISIL         150     Reaffirmed
                                                           BB/Stable
Jain Amar Clothing Pvt Ltd              Loan Against       CRISIL         196.9   Reaffirmed
                                        Property           BB/Stable
Jain Amar Clothing Pvt Ltd              LT Loan            CRISIL         12.6    Reaffirmed
                                                           BB/Stable
Jain Amar Clothing Pvt Ltd              Proposed LT Bk     CRISIL         108     Reaffirmed
                                        Loan Fac           BB/Stable
Jewel Classic Hotels Pvt Ltd            TL                 CRISIL         500     Downgraded
                                                           BBB-/Negative          from CRISIL
                                                                                  BBB/Stable
Joneja Bright Steels Pvt Ltd            Ratings            -              -
 CRISIL is yet to receive adequate information from Joneja Bright Steels Private Limited (JBSPL)
to enable it to undertake a rating review. CRISIL is taking all possible efforts to get the
rated entity to cooperate with its rating process for enabling it to carry out the
rating review. 
K. N. C. Agro Ltd                       Export Packing     CRISIL         300     Reaffirmed
                                        Credit             BB+/Stable
Kamdhenu Udyog Pvt Ltd                  CC                 CRISIL         69.6    Reaffirmed
                                                           BBB-/Negative
Outlook revised from Stable
Kanwarji Construction Company           CC                 CRISIL         65      Reaffirmed
                                                           BBB-/Stable
Kashmir Walnut Overseas Pvt Ltd         CC                 CRISIL         150     Reaffirmed
                                                           BB/Stable
Kerala Infrastructure Investment Fund   LT Loan            Provisional    24500
Board                                                      CRISIL A+(CE)^
Continues on Rating Watch with Negative Implications /^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 a May 6, 2015, directive by the
Securities and Exchange Board of India (SEBI), Standardising the term, rating symbol, and manner
of disclosure with regard to conditional/ provisional/ in-principle ratings assigned by credit
rating agencies (CRAs)
Kerala Infrastructure Investment Fund   Proposed LT Bk     Provisional    25500
Board                                   Loan Fac           CRISIL A+(CE)^
Continues on Rating Watch with Negative Implications /^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 a May 6, 2015, directive by the
Securities and Exchange Board of India (SEBI), Standardising the term, rating symbol, and manner
of disclosure with regard to conditional/ provisional/ in-principle ratings assigned by credit
rating agencies (CRAs)
Khurana Polymers Pvt Ltd                CC                 CRISIL         70      Migrated from
                                                           BB-/Stable             CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Khurana Polymers Pvt Ltd                Proposed LT Bk     CRISIL         21.8    Migrated from
                                        Loan Fac           BB-/Stable             CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Khurana Polymers Pvt Ltd                TL                 CRISIL         69.7    Migrated from
                                                           BB-/Stable             CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Kisanveer Satara Sahakari Sakhar        Pledge Loan        CRISIL D       250     Downgraded
Karkhana Ltd                                                                      from CRISIL
                                                                                  B/Stable
Kisanveer Satara Sahakari Sakhar        Proposed LT Bk     CRISIL D       1477.7  Downgraded
Karkhana Ltd                            Loan Fac                                  from CRISIL
                                                                                  B/Stable
Kisanveer Satara Sahakari Sakhar        TL                 CRISIL D       532.3   Downgraded
Karkhana Ltd                                                                      from CRISIL
                                                                                  B/Stable
Krishi Nutrition Company Pvt Ltd        CC                 CRISIL         110.9   Reaffirmed
                                                           BB+/Stable
Krishi Nutrition Company Pvt Ltd        Foreign LOC        CRISIL         27.8    Reaffirmed
                                                           BB+/Stable
Krishi Nutrition Company Pvt Ltd        Rupee TL           CRISIL         172.9   Reaffirmed
                                                           BB+/Stable
KSR Infracon Pvt Ltd                    Ratings            -              -
 CRISIL is yet to receive adequate information from KSR Infracon Private
Limited (KSR) to enable it to undertake a rating review. CRISIL is taking all possible efforts
to get the rated entity to cooperate with its rating process for enabling it to carry out the
rating review.
Life Line Feeds India Pvt Ltd           CC                 CRISIL         550     Reaffirmed
                                                           BBB-/Negative
Outlook revised from Stable
Life Line Feeds India Pvt Ltd           TL                 CRISIL         513.7   Reaffirmed
                                                           BBB-/Negative
Outlook revised from Stable
LT Foods Ltd                            Proposed WC Fac    CRISIL         150     Reaffirmed
                                                           A-/Stable
Outlook revised from Positive
LT Foods Ltd                            TL                 CRISIL         500     Reaffirmed
                                                           A-/Stable
Outlook revised from Positive
LT Foods Ltd                            WC Fac             CRISIL         8070    Reaffirmed
                                                           A-/Stable
Outlook revised from Positive
LT Foods Ltd                            LT Loan            CRISIL         252.5   Reaffirmed
                                                           A-/Stable
Outlook revised from Positive
LT Foods Ltd                            Proposed FB Bk     CRISIL         2182.5  Reaffirmed
                                        Limits             A-/Stable
Outlook revised from Positive
Lumax Auto Technologies Ltd             CC*                CRISIL         800     Reaffirmed
                                                           A+/Stable
Outlook revised from Positive/*Interchangeable with working capital demand loan
Lumax Auto Technologies Ltd             Non-FBL            CRISIL         120     Reaffirmed
                                                           A+/Stable
Outlook revised from Positive
Lumax Auto Technologies Ltd             Vendor Bill        CRISIL         400     Reaffirmed
                                        Discounting Limits A+/Stable
Outlook revised from Positive
Lumax Management Services Pvt Ltd       Proposed LT Bk     CRISIL         100     Reaffirmed
                                        Loan Fac           A+/Stable
Outlook revised from Positive
M Suresh Company Pvt Ltd                Packing Credit     CRISIL A-      1209
                                        (pre-shipment
                                        credit)
Continues on Rating Watch with Developing Implications
M Suresh Company Pvt Ltd                Post Shipment      CRISIL A-      830
                                        Credit
Continues on Rating Watch with Developing Implications
M Suresh Company Pvt Ltd                Proposed LT Bk     CRISIL A-      27.5
                                        Loan Fac
Continues on Rating Watch with Developing Implications
M Suresh Company Pvt Ltd                Standby Line of    CRISIL A-      282.5
                                        Credit
Continues on Rating Watch with Developing Implications
M.P.Entertainment And Developers Pvt LtdLease Rental       CRISIL BBB-    1000
                                        Discounting Loan
(Placed on Rating Watch with Negative Implications) 
M/s. Rajendra Kumar Sureka & Others     TL                 CRISIL B+      97.5
(Issuer Not Cooperating)
Maini Group of Educational Society      Ratings            -
CRISIL is yet to receive adequate information from Maini Group of
Educational Society (MGES) to enable it to undertake a rating review. CRISIL is taking all
possible efforts to get the rated entity to cooperate with its rating process for enabling it to
carry out the rating review.
Markandeshwar Food And Allied Product   CC                 CRISIL         250     Reaffirmed
Ltd                                                        BB/Stable
Max Hypermarket India Pvt Ltd           TL                 CRISIL         1233.1  Reaffirmed
                                                           BB+/Stable
Max Hypermarket India Pvt Ltd           WC Demand Loan*    CRISIL         16.9    Reaffirmed
                                                           BB+/Stable
* Fully interchangeable with cash credit, interchangeable with letter of credit to Rs 1 crore
and bank guarantee to Rs 0.5 crore
Mayfair Hotels and Resorts (Sikkim) Pvt Proposed LT Bk     CRISIL         339.4   Downgraded
Ltd                                     Loan Fac           BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
Mayfair Hotels and Resorts (Sikkim) Pvt TL                 CRISIL         260     Downgraded
Ltd                                                        BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
Mayfair Hotels and Resorts Ltd          CC                 CRISIL         35      Downgraded
                                                           BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
Mayfair Hotels and Resorts Ltd          TL                 CRISIL         1155    Downgraded
                                                           BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
Meenu Creation LLP                      Ratings            -              -
CRISIL is yet to receive adequate information from Meenu Creation LLP
(MCLLP) to enable it to undertake a rating review. CRISIL is taking all possible efforts to get
the rated entity to cooperate with its rating process for enabling it to carry out the rating
review. 
Mintifi Finserve Pvt Ltd                Proposed LT Bk     CRISIL         1000    Assigned
                                        Loan Fac           BBB-/Stable
Mumbai International Airport Ltd        Proposed LT Bk     CRISIL         4182.6  Withdrawn
                                        Loan Fac           A-/Watch
                                                           Negative
Mumbai International Airport Ltd        Rupee TL           CRISIL B+      3500    Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Mumbai International Airport Ltd        BG#                CRISIL BBB     1750    Downgraded
                                                                                  from CRISIL A-
Continues on Rating Watch with Negative Implications/#Financial Guarantee. Interchangeable with
Rupee Term Loan
Mumbai International Airport Ltd        CC                 CRISIL BBB     3300    Downgraded
                                                                                  from CRISIL A-
Continues on Rating Watch with Negative Implications
Mumbai International Airport Ltd        NCD                CRISIL BBB     20000   Downgraded
                                                                                  from CRISIL
                                                                                  A-;
 Continues on Rating Watch with Negative Implications
Mumbai International Airport Ltd        LOC*               CRISIL BBB     500     Downgraded
                                                                                  from CRISIL A-
Continues on Rating Watch with Negative Implications/*Interchangeable with Sight Letter of
Credit, Usance Letter of Credit, Buyers Credit, Inland Letter of Credit to the extent of Rs. 15
crores, Performance bank guarantee, Financial bank guarantee to the extent of Rs. 40 crores, and
Revolving Short Term Loan to the extent of Rs. 20 crores.
Mumbai International Airport Ltd        Rupee TL           CRISIL BBB     82967.4 Downgraded
                                                                                  from CRISIL A-
Continues on Rating Watch with Negative Implications
Narayan Industries                      Secured Overdraft  CRISIL         20      Reaffirmed
                                        against term       BBB/Stable
                                        deposits
Nature Bio-Foods Ltd                    Proposed FB Bk     CRISIL A-      205     Reaffirmed
                                        Limits
Outlook revised from Positive 
Nature Bio-Foods Ltd                    WC Fac             CRISIL A-      1200    Reaffirmed
Navi Mumbai International Airport Pvt   Proposed LT Bk     CRISIL BBB     103000  Downgraded
Ltd                                     Loan Fac                                  from CRISIL
                                                                                  BBB+
Continues on Rating Watch with Negative Implications
Nezami Rekha Sea Foods Pvt Ltd          Bill Discounting   CRISIL         70      Reaffirmed
                                                           BB+/Stable
Nezami Rekha Sea Foods Pvt Ltd          Proposed LT Bk     CRISIL         130     Reaffirmed
                                        Loan Fac           BB+/Stable
Nezami Rekha Sea Foods Pvt Ltd          Standby Line of    CRISIL         40      Reaffirmed
                                        Credit             BB+/Stable
NIIT Incessant Pvt Ltd                  WC Loan            CRISIL         100     Assigned
                                                           AA/Stable
Niswin Foods Pvt Ltd                    TL                 CRISIL         35      Assigned
                                                           B+/Stable
Niswin Foods Pvt Ltd                    CC                 CRISIL         85      Assigned
                                                           B+/Stable
NJA Industries Pvt Ltd                  Ratings            -              -
 CRISIL is yet to receive adequate information from NJA Industries Private
Limited (NIPL) to enable it to undertake a rating review. CRISIL is taking all possible efforts
to get the rated entity to cooperate with its rating process for enabling it to carry out the
rating review. 
OM Shree Rupesh Steel Pvt Ltd           CC                 CRISIL         65      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Om Sri Lakshmi Venkateswara Agro Boards CC                 CRISIL         46.5
Pvt Ltd                                                    B/Stable
(Issuer Not Cooperating)
Om Sri Lakshmi Venkateswara Agro Boards Proposed FB Bk     CRISIL         5.5
Pvt Ltd                                 Limits             B/Stable
(Issuer Not Cooperating)
Om Sri Lakshmi Venkateswara Agro Boards Rupee TL           CRISIL         98
Pvt Ltd                                                    B/Stable
(Issuer Not Cooperating)
Oswal Pumps Ltd                         CC                 CRISIL         487.5   Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
P Krishna Pillai Memorial Printing and  Ratings            -              -
Publishing Company Pvt Ltd
CRISIL is yet to receive adequate information from P Krishna Pillai
Memorial Printing and Publishing Company Private Limited (PKP) to enable it to undertake a
rating review. CRISIL is taking all possible efforts to get the rated entity to cooperate with
its rating process for enabling it to carry out the rating review
P. P. Steel Corporation                 CC                 CRISIL         150     Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
P.K. Cold Storage                       Overdraft          CRISIL B-      60
(Issuer Not Cooperating)
P.K. Cold Storage                       TL                 CRISIL B-      20
(Issuer Not Cooperating)
P.T. Sreenivasan                        CC/ Overdraft Fac  CRISIL BB-     10      Reaffirmed
P.T. Sreenivasan                        Proposed LT Bk     CRISIL BB-     27      Reaffirmed
                                        Loan Fac
Pal and Paul Builders Ltd               Proposed Overdraft CRISIL         200
                                        Fac                B+/Stable
(Issuer Not Cooperating)
Palmetto Industries India Pvt Ltd       Foreign Bill       CRISIL         60
                                        Discounting        B-/Stable
(Issuer Not Cooperating)
Palmetto Industries India Pvt Ltd       Proposed WC Fac    CRISIL         16
                                                           B-/Stable
(Issuer Not Cooperating)
Palmetto Industries India Pvt Ltd       TL                 CRISIL         9
                                                           B-/Stable
(Issuer Not Cooperating)
Palmetto Industries India Pvt Ltd       WC TL              CRISIL         35
                                                           B-/Stable
(Issuer Not Cooperating)
Panda Retail Pvt Ltd                    TL                 CRISIL         17.1    Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Panda Retail Pvt Ltd                    CC                 CRISIL         34      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Panini Granites Pvt Ltd                 CC                 CRISIL         75
                                                           B-/Stable
(Issuer Not Cooperating)
Panini Granites Pvt Ltd                 LT Loan            CRISIL         38
                                                           B-/Stable
(Issuer Not Cooperating)
Panini Granites Pvt Ltd                 Proposed LT Bk     CRISIL         77
                                        Loan Fac           B-/Stable
(Issuer Not Cooperating)
Parker Estate Developers Pvt Ltd        TL                 CRISIL         90      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Parksons Graphics Prop, Abhi - Ani Mfg. CC                 CRISIL B+      40      Revised from
Co. Pvt Ltd                                                                       CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Parksons Graphics Prop, Abhi - Ani Mfg. Proposed LT Bk     CRISIL B+      64.4    Revised from
Co. Pvt Ltd                             Loan Fac                                  CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Parksons Graphics Pvt Ltd               CC                 CRISIL         80      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Parksons Graphics Pvt Ltd               Proposed LT Bk     CRISIL         142.4   Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Parksons Graphics Pvt Ltd               Rupee TL           CRISIL         23      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Parth Cold Storage - Banaskantha        CC                 CRISIL B       2.5
(Issuer Not Cooperating)
Parth Cold Storage - Banaskantha        Pledge Loan        CRISIL B       25
(Issuer Not Cooperating)
Parth Cold Storage - Banaskantha        TL                 CRISIL B       47.5
(Issuer Not Cooperating)
Parvati Cotton Industries - Beed        CC                 CRISIL B       90
(Issuer Not Cooperating)
Pee Aar International Pvt Ltd           Foreign Bill       CRISIL D       110
                                        Purchase
(Issuer Not Cooperating)
Pee Aar International Pvt Ltd           Overdraft          CRISIL D       10
(Issuer Not Cooperating)
Pee Aar International Pvt Ltd           Packing Credit     CRISIL D       110
(Issuer Not Cooperating)
Pee Aar International Pvt Ltd           Standby Line of    CRISIL D       44
                                        Credit
(Issuer Not Cooperating)
Penguin Petroleum Services Pvt Ltd      Proposed LT Bk     CRISIL         53.4    Migrated from
                                        Loan Fac           B-/Stable              CRISIL D
(Issuer Not Cooperating)
Penguin Petroleum Services Pvt Ltd      TL                 CRISIL         21.6    Migrated from
                                                           B-/Stable              CRISIL D
(Issuer Not Cooperating)
People`s Exports Pvt Ltd                Ratings            -              -
CRISIL is yet to receive adequate information from People`s Exports Private Limited (PEPL) to
enable it to undertake a rating review. CRISIL is taking all possible efforts to get the rated
entity to cooperate with its rating process for enabling it to carry out the rating review.
Pipada Motors                           CC                 CRISIL         40
                                                           B+/Stable
(Issuer Not Cooperating)
PJR Project Constructions Pvt Ltd       CC                 CRISIL         30      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
PJR Project Constructions Pvt Ltd       Proposed LT Bk     CRISIL         5       Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Platinum Microns LLP                    TL                 CRISIL         50
                                                           B+/Stable
(Issuer Not Cooperating)
Plus Medicare Hospitals Pvt Ltd         TL                 CRISIL         350
                                                           B+/Stable
(Issuer Not Cooperating)
PMC Rubber Chemicals India Pvt Ltd      CC                 CRISIL         337.5
                                                           B/Stable
(Issuer Not Cooperating)
Pooja Printers                          CC                 CRISIL         60
                                                           B+/Stable
(Issuer Not Cooperating)
Pooja Printers                          Proposed LT Bk     CRISIL         20
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
Poulomi Infra Pvt Ltd                   CC                 CRISIL         100
                                                           B/Stable
(Issuer Not Cooperating)
Poulomi Infra Pvt Ltd                   Proposed LT Bk     CRISIL         7
                                        Loan Fac           B/Stable
(Issuer Not Cooperating)
Poulomi Infra Pvt Ltd                   TL                 CRISIL         73
                                                           B/Stable
(Issuer Not Cooperating)
Prachi Leathers Pvt Ltd                 CC                 CRISIL         120     Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Prachi Leathers Pvt Ltd                 Proposed LT Bk     CRISIL         25      Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Pradhvi Multitrade Pvt Ltd              CC                 CRISIL D       100
(Issuer Not Cooperating)
Pragati Coatings Pvt Ltd                CC                 CRISIL         45      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Pragati Coatings Pvt Ltd                Proposed LT Bk     CRISIL         72      Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Pragati Coatings Pvt Ltd                TL                 CRISIL         43      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Prakash Auto Pvt Ltd                    Inventory Funding  CRISIL         160
                                        Fac                B+/Stable
(Issuer Not Cooperating)
Prakash Auto Pvt Ltd                    Overdraft          CRISIL         3
                                                           B+/Stable
(Issuer Not Cooperating)
Prakash Auto Pvt Ltd                    Proposed LT Bk     CRISIL         7
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
Prakash Engineers and Infraprojects Pvt Ratings            -              -
Ltd
 CRISIL is yet to receive adequate information from Prakash Engineers and
Infraprojects Private Limited (PEIPL) to enable it to undertake a rating review. CRISIL is
taking all possible efforts to get the rated entity to cooperate with its rating process for
enabling it to carry out the rating review.
Prananda Pvt Ltd                        Proposed LT Bk     CRISIL         200
                                        Loan Fac           B/Stable
(Issuer Not Cooperating)
Preet Machines Ltd                      CC                 CRISIL         145     Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Premavati Rice Mill                     CC                 CRISIL         60
                                                           B+/Stable
(Issuer Not Cooperating)
Premavati Rice Mill                     LT Loan            CRISIL         2.5
                                                           B+/Stable
(Issuer Not Cooperating)
Premier Metal Products                  CC                 CRISIL         120     Withdrawn
                                                           BB-/Stable
Premier Metal Products                  Proposed LT Bk     CRISIL         10      Withdrawn
                                        Loan Fac           BB-/Stable
Premier Spincot                         CC                 CRISIL         40      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Premier Spincot                         LT Loan            CRISIL         38      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Premier Spincot                         Proposed LT Bk     CRISIL         22      Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Prima Kleenseed Processors Pvt Ltd      LT Loan            CRISIL         50.3
                                                           B-/Stable
(Issuer Not Cooperating)
Prima Kleenseed Processors Pvt Ltd      Proposed LT Bk     CRISIL         9.7
                                        Loan Fac           B-/Stable
(Issuer Not Cooperating)
Priyanka Infra Pvt Ltd                  CC                 CRISIL         60
                                                           B+/Stable
(Issuer Not Cooperating)
Priyanka Infra Pvt Ltd                  Proposed LT Bk     CRISIL         40
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
Priyanka Infra Pvt Ltd                  Proposed TL        CRISIL         40
                                                           B+/Stable
(Issuer Not Cooperating)
Proform Interiors Pvt Ltd               Ratings            -              -
CRISIL is yet to receive adequate information from Proform Interiors
Private Limited (PIPL) to enable it to undertake a rating review. CRISIL is taking all possible
efforts to get the rated entity to cooperate with its rating process for enabling it to carry
out the rating review. 
PTS HITECH PROJECTS India Pvt Ltd       CC                 CRISIL         50      Reaffirmed
                                                           BB-/Stable
Purvanchal Flour Mill Pvt Ltd           CC                 CRISIL         20
                                                           B/Stable
(Issuer Not Cooperating)
Purvanchal Flour Mill Pvt Ltd           TL                 CRISIL         76.9
                                                           B/Stable
(Issuer Not Cooperating)
Quantum Power Systems                   CC                 CRISIL         15      Reaffirmed
                                                           BB/Stable
Quantum Power Systems                   Foreign LOC        CRISIL         20      Reaffirmed
                                                           BB/Stable
Quantum Power Systems                   Proposed FB Bk     CRISIL         9.2     Reaffirmed
                                        Limits             BB/Stable
Quro Vitrified Pvt Ltd                  CC                 CRISIL         70      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Quro Vitrified Pvt Ltd                  LT Loan            CRISIL         170     Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
R S Brothers Retail India Pvt Ltd       CC                 CRISIL         800     Reaffirmed
                                                           A-/Negative
Outlook revised from Positive
R S Brothers Retail India Pvt Ltd       Proposed LT Bk     CRISIL         510     Reaffirmed
                                        Loan Fac           A-/Negative
Outlook revised from Positive
R S Brothers Retail India Pvt Ltd       TL                 CRISIL         690     Reaffirmed
                                                           A-/Negative
Outlook revised from Positive
R. S. K. Rice Mill                      CC                 CRISIL         45
                                                           B+/Stable
(Issuer Not Cooperating)
R. S. K. Rice Mill                      LT Loan            CRISIL         13
                                                           B+/Stable
(Issuer Not Cooperating)
R. S. K. Rice Mill                      Proposed LT Bk     CRISIL         7
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
R. Suresh and Co.                       Ratings            -              -
CRISIL is yet to receive adequate information from R. Suresh and Co.
(RSC) to enable it to undertake a rating review. CRISIL is taking all possible efforts to get
the rated entity to cooperate with its rating process for enabling it to carry out the rating
review.
R.K. Rice and General Mills             CC                 CRISIL B       130
(Issuer Not Cooperating)
R.K. Rice and General Mills             Proposed TL        CRISIL B       7
(Issuer Not Cooperating)
R.K. Rice and General Mills             TL                 CRISIL B       8
(Issuer Not Cooperating)
R.S.Brothers Jewellers Pvt Ltd          CC                 CRISIL A-      500     Reaffirmed
Outlook revised from Positive
R.S.Brothers Jewellers Pvt Ltd          Proposed LT Bk     CRISIL A-      50      Reaffirmed
                                        Loan Fac
Outlook revised from Positive
R.S.Brothers Jewellers Pvt Ltd          WC Fac             CRISIL A-      250     Reaffirmed
Outlook revised from Positive
Radhalaxmi Spintex Pvt Ltd              CC                 CRISIL         60      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Radhalaxmi Spintex Pvt Ltd              LT Loan            CRISIL         270     Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Raghunath Agro Industries Pvt Ltd       Proposed FB Bk     CRISIL         325     Reaffirmed
                                        Limits             A-/Stable
Outlook revised from Positive
Raghunath Agro Industries Pvt Ltd       TL                 CRISIL         10      Reaffirmed
                                                           A-/Stable
Outlook revised from Positive
Raghunath Agro Industries Pvt Ltd       WC Fac             CRISIL         740     Reaffirmed
                                                           A-/Stable
Outlook revised from Positive
Rainbow Infrastructure Pvt Ltd          CC                 CRISIL         15
                                                           B+/Stable
(Issuer Not Cooperating)
Rainbow Infrastructure Pvt Ltd          Proposed LT Bk     CRISIL         5
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
Raj Waterscape Properties Pvt Ltd       CC                 CRISIL D       250     Withdrawn
Raja Food Products                      CC                 CRISIL         66
                                                           B/Stable
(Issuer Not Cooperating)
Raja Food Products                      Proposed LT Bk     CRISIL         25
                                        Loan Fac           B/Stable
(Issuer Not Cooperating)
Raja Food Products                      TL                 CRISIL         9
                                                           B/Stable
(Issuer Not Cooperating)
Rajesh Varkey                           CC                 CRISIL         10      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Rajlabdhi Infrastructure Pvt Ltd        TL                 CRISIL D       200
(Issuer Not Cooperating)
Rakesh Masala Pvt Ltd                   CC                 CRISIL         65      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Rakesh Masala Pvt Ltd                   TL                 CRISIL         60      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Ram Impex Corporation                   CC                 CRISIL         50      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Ramachandra Modern Rice Mill            CC                 CRISIL         11
                                                           B+/Stable
(Issuer Not Cooperating)
Ramachandra Modern Rice Mill            Proposed LT Bk     CRISIL         58
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
Ramachandra Modern Rice Mill            Proposed TL        CRISIL         30
                                                           B+/Stable
(Issuer Not Cooperating)
Ramachandra Modern Rice Mill            TL                 CRISIL         21
                                                           B+/Stable
(Issuer Not Cooperating)
Ramadas Minerals Pvt Ltd                CC                 CRISIL         30      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Ramadas Minerals Pvt Ltd                LT Loan            CRISIL         70      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Ramkrishna Agencies                     CC                 CRISIL         430     Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Rana Farms and Foods Pvt Ltd            CC                 CRISIL D       36
(Issuer Not Cooperating)
Rana Farms and Foods Pvt Ltd            LT Loan            CRISIL D       50
(Issuer Not Cooperating)
Raosahebdada Pawar Ghodganga Sahakari   Rupee TL           CRISIL         760.7
Sakhar Karkhana Ltd                                        B/Stable
(Issuer Not Cooperating)
Raosahebdada Pawar Ghodganga Sahakari   Sugar Pledge CC    CRISIL         772.6
Sakhar Karkhana Ltd                                        B/Stable
(Issuer Not Cooperating)
Rashmi Housing Spv Pvt Ltd              Proposed LT Bk     CRISIL         12.5
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
Rashmi Housing Spv Pvt Ltd              TL                 CRISIL         100
                                                           B+/Stable
(Issuer Not Cooperating)
Rashmi Steels                           CC                 CRISIL D       150
(Issuer Not Cooperating)
Rashmi Steels                           LOC                CRISIL D       6.5
(Issuer Not Cooperating)
Rashmi Steels                           Rupee TL           CRISIL D       53.5
(Issuer Not Cooperating)
Rathod Jewellers                        Proposed LT Bk     CRISIL         250     Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Rational Business Corporation Pvt Ltd   CC                 CRISIL         280     Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Rational Business Corporation Pvt Ltd   Cash TL            CRISIL         28.5    Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Ratnakala Exports Pvt Ltd               Export Packing     CRISIL BBB+    480
                                        Credit
Continues on Rating Watch with Developing Implications
Ratnakala Exports Pvt Ltd               Post Shipment      CRISIL BBB+    470
                                        Credit
Continues on Rating Watch with Developing Implications
Ravi Realcon Pvt Ltd                    CC                 CRISIL         42.5
                                                           B/Stable
(Issuer Not Cooperating)
Rayban Feeds and Hatcheries Pvt Ltd     CC                 CRISIL D       120
(Issuer Not Cooperating)
Rayban Feeds and Hatcheries Pvt Ltd     LT Loan            CRISIL D       110
(Issuer Not Cooperating)
Rayban Feeds and Hatcheries Pvt Ltd     Proposed LT Bk     CRISIL D       20
                                        Loan Fac
(Issuer Not Cooperating)
RCM Infrastructure Ltd                  BG                 CRISIL D       880
(Issuer Not Cooperating)
RCM Infrastructure Ltd                  CC                 CRISIL D       132.9
(Issuer Not Cooperating)
RCM Infrastructure Ltd                  Foreign LOC        CRISIL D       100
(Issuer Not Cooperating)
RCM Infrastructure Ltd                  Funded Interest TL CRISIL D       17.1
(Issuer Not Cooperating)
RCM Infrastructure Ltd                  Inland/Import LOC  CRISIL D       200
(Issuer Not Cooperating)
RCM Infrastructure Ltd                  Letter Of GuaranteeCRISIL D       700
(Issuer Not Cooperating)
RCM Infrastructure Ltd                  Open CC            CRISIL D       100
(Issuer Not Cooperating)
RCM Infrastructure Ltd                  WC TL              CRISIL D       170
(Issuer Not Cooperating)
Relan Motors Pvt Ltd                    Inventory Funding  CRISIL         100     Revised from
                                        Fac                B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Riddhi Autowheels Pvt Ltd               CC                 CRISIL         20
                                                           B+/Stable
(Issuer Not Cooperating)
Riddhi Autowheels Pvt Ltd               Electronic Dealer  CRISIL         44.5
                                        Financing          B+/Stable
                                        Scheme(e-DFS)
(Issuer Not Cooperating)
Riddhi Autowheels Pvt Ltd               Proposed CC Limit  CRISIL         10
                                                           B+/Stable
(Issuer Not Cooperating)
Riddhi Autowheels Pvt Ltd               Proposed LT Bk     CRISIL         25.5
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
Rishabh Industries                      Overdraft          CRISIL         100
                                                           B+/Stable
(Issuer Not Cooperating)
Rishi Laser Ltd                         Proposed FB Bk     CRISIL         154.5   Reaffirmed
                                        Limits             B+/Stable              and Withdrawn
Rishikesh Filaments Pvt Ltd             CC                 CRISIL         83      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Rishikesh Filaments Pvt Ltd             LT Loan            CRISIL         33      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Rishikesh Filaments Pvt Ltd             Proposed LT Bk     CRISIL         4       Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Riya Travel and Tours India Pvt Ltd     CC                 CRISIL         1100    Reaffirmed
                                                           BBB+/Negative
Outlook revised from Stable
Riya Travel and Tours India Pvt Ltd     Proposed CC Limit  CRISIL         475     Reaffirmed
                                                           BBB+/Negative
Outlook revised from Stable
RJP Technologies Pvt Ltd                CC                 CRISIL         45
                                                           B/Stable
(Issuer Not Cooperating)
RJP Technologies Pvt Ltd                Proposed LT Bk     CRISIL         1
                                        Loan Fac           B/Stable
(Issuer Not Cooperating)
RJP Technologies Pvt Ltd                TL                 CRISIL         74
                                                           B/Stable
(Issuer Not Cooperating)
RNP Scaffolding & Formwork Pvt Ltd      Bill Discounting   CRISIL B+      50      Revised from
                                                                                  CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
RNP Scaffolding & Formwork Pvt Ltd      CC                 CRISIL B+      250     Revised from
                                                                                  CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Rotocast Industries Ltd                 CC                 CRISIL         150     Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Rotocast Industries Ltd                 Proposed LT Bk     CRISIL         1       Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Roy Agrovets Pvt Ltd                    CC                 CRISIL         150     Downgraded
                                                           BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
Roy Agrovets Pvt Ltd                    TL                 CRISIL         98      Downgraded
                                                           BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
Royal Constructions                     CC                 CRISIL B+      40
(Issuer Not Cooperating)
Royal Constructions                     Proposed LT Bk     CRISIL B+      1
                                        Loan Fac
(Issuer Not Cooperating)
RSG Packagings Pvt Ltd                  CC                 CRISIL         65      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
RSG Packagings Pvt Ltd                  TL                 CRISIL         15      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Ruchi Malls Pvt Ltd                     Drop Line          CRISIL A+      2400
                                        Overdraft Fac
Placed on Rating Watch with Negative Implication
Ruhan Teppich Exports.                  Export Packing     CRISIL B+      30
                                        Credit
(Issuer Not Cooperating)
S. K. Mehta and Co.                     Ratings            -              -
CRISIL is yet to receive adequate information from S. K. Mehta and Co.
(SKMC) to enable it to undertake a rating review. CRISIL is taking all possible efforts to get
the rated entity to cooperate with its rating process for enabling it to carry out the rating
review. 
Sabari Enterprises                      Proposed LT Bk     CRISIL         80      Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Sabarmati Papers Pvt Ltd                CC                 CRISIL         80      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Sabarmati Papers Pvt Ltd                Proposed LT Bk     CRISIL         22.5    Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Sabarmati Papers Pvt Ltd                TL                 CRISIL         17.5    Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Sabitri Industries Pvt Ltd              CC                 CRISIL D       285
(Issuer Not Cooperating)
Sabitri Industries Pvt Ltd              TL                 CRISIL D       425
(Issuer Not Cooperating)
Sadbhav Ceramics                        CC                 CRISIL         35
                                                           B+/Stable
(Issuer Not Cooperating)
Sadbhav Ceramics                        TL                 CRISIL         9
                                                           B+/Stable
(Issuer Not Cooperating)
Safir Enterprises                       CC                 CRISIL         35
                                                           B/Stable
(Issuer Not Cooperating)
Safir Enterprises                       Proposed LT Bk     CRISIL         5
                                        Loan Fac           B/Stable
(Issuer Not Cooperating)
Salasar Balaji Real Infra               TL                 CRISIL         50
                                                           B-/Stable
(Issuer Not Cooperating)
Samrat Feed Mills                       CC                 CRISIL         130     Reaffirmed
                                                           BBB-/Negative
Outlook revised from Stable
Sanghvi International                   CC                 CRISIL         100     Reaffirmed
                                                           BB+/Stable
Outlook revised from Positive
Saraca Laboratories Ltd                 Bill Discounting*  CRISIL         25      Downgraded
                                                           BBB+/Stable            from CRISIL
                                                                                  A-
Removed from Rating Watch with Negative Implications /*Fully interchangeable among cash credit,
export packing credit, and bill discounting limits
Saraca Laboratories Ltd                 CC*                CRISIL         150     Downgraded
                                                           BBB+/Stable            from CRISIL
                                                                                  A-
Removed from Rating Watch with Negative Implications /*Fully interchangeable among cash credit,
export packing credit, and bill discounting limits
Saraca Laboratories Ltd                 Export Packing     CRISIL         225     Downgraded
                                        Credit*            BBB+/Stable            from CRISIL A-
Removed from Rating Watch with Negative Implications /*Fully interchangeable among cash credit,
export packing credit, and bill discounting limits
Saraca Laboratories Ltd                 Standby Line of    CRISIL         50      Downgraded
                                        Credit             BBB+/Stable            from CRISIL A-
Removed from Rating Watch with Negative Implications 
Sarath Enterprises                      CC                 CRISIL         45
                                                           B+/Stable
(Issuer Not Cooperating)
Sarath Enterprises                      Packing Credit     CRISIL         30
                                                           B+/Stable
(Issuer Not Cooperating)
Saravana Sai Rice Industries            CC                 CRISIL         60
                                                           B+/Stable
(Issuer Not Cooperating)
Saravana Sai Rice Industries            Proposed LT Bk     CRISIL         10
                                        Loan Fac           B+/Stable
(Issuer Not Cooperating)
Sarda Bio Polymers Pvt Ltd              CC                 CRISIL         50
                                                           B-/Stable
(Issuer Not Cooperating)
Sarda Bio Polymers Pvt Ltd              TL                 CRISIL         100
                                                           B-/Stable
(Issuer Not Cooperating)
SB Energy One Pvt Ltd                   CC                 CRISIL         330     Reaffirmed
                                                           A/Negative
Outlook revised from Stable
SB Energy One Pvt Ltd                   TL                 CRISIL         11230   Reaffirmed
                                                           A/Negative
Outlook revised from Stable
SB Energy Three Pvt Ltd                 TL                 CRISIL         3800    Reaffirmed
                                                           A/Negative
Outlook revised from Stable
SB Energy Three Pvt Ltd                 WC Fac             CRISIL         80      Reaffirmed
                                                           A/Negative
Outlook revised from Stable
Shirode Cars Pvt Ltd                    CC                 CRISIL         35
                                                           B/Stable
(Issuer Not Cooperating)
Shirode Cars Pvt Ltd                    Proposed LT Bk     CRISIL         3
                                        Loan Fac           B/Stable
(Issuer Not Cooperating)
Shirode Cars Pvt Ltd                    TL                 CRISIL         12
                                                           B/Stable
(Issuer Not Cooperating)
Shoppers Stop Ltd                       CP                 CRISIL A1+     1000    Reaffirmed
Shree Bharat Motors Ltd                 CC                 CRISIL         70      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Negative
(Issuer Not Cooperating)
Shree Bharat Motors Ltd                 Channel Financing  CRISIL         275     Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Negative
(Issuer Not Cooperating)
Shree Bharat Motors Ltd                 Corporate Loan     CRISIL         5       Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Negative
(Issuer Not Cooperating)
Shree Bharat Motors Ltd                 TL                 CRISIL         229.1   Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Negative
(Issuer Not Cooperating)
Shree Maheshwar Hydel Power Corporation OFCDs*             CRISIL         4000    Reaffirmed
Ltd                                                        AAA(CE)/Stable
Shree Vinayak Agro                      Ratings            -              -
CRISIL is yet to receive adequate information from Shree Vinayak Agro
(SVA) to enable it to undertake a rating review. CRISIL is taking all possible efforts to get
the rated entity to cooperate with its rating process for enabling it to carry out the rating
review. 
Shri Balaji Rice Products Pvt Ltd       CC                 CRISIL         90      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
SHRI Trust AD 2020 (Originator:         Series A PTCs      Provisional    -       Assigned
Sundaram Finance Ltd)                                      CRISIL AAA (SO)
Shubh Mangal Textile Industries LLP     CC                 CRISIL         20      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Shubh Mangal Textile Industries LLP     Cash TL            CRISIL         30      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Shubh Mangal Textile Industries LLP     Proposed LT Bk     CRISIL         50      Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Shyamjee Lumbers Pvt Ltd                Ratings            -              -
CRISIL is yet to receive adequate information from Shyamjee Lumbers
Private Limited (SLPL) to enable it to undertake a rating review. CRISIL is taking all possible
efforts to get the rated entity to cooperate with its rating process for enabling it to carry
out the rating review. 
Singhal Clearing And Forwarding         CC                 CRISIL         35
Services Pvt Ltd                                           B-/Stable
(Issuer Not Cooperating)
Singhal Clearing And Forwarding         TL                 CRISIL         22.5
Services Pvt Ltd                                           B-/Stable
(Issuer Not Cooperating)
Sonia Fisheries Pvt Ltd                 Export Packing     CRISIL         200     Reaffirmed
                                        Credit             BBB+/Negative
Outlook revised from Stable
Sonia Fisheries Pvt Ltd                 Proposed FB Bk     CRISIL         50      Reaffirmed
                                        Limits             BBB+/Negative
Outlook revised from Stable
Sorkhi Industries Pvt Ltd               CC                 CRISIL         17      Withdrawn
                                                           B+/Stable
Sorkhi Industries Pvt Ltd               Proposed CC Limit  CRISIL         8       Withdrawn
                                                           B+/Stable
Sorkhi Industries Pvt Ltd               TL                 CRISIL         65      Withdrawn
                                                           B+/Stable
Southern Holdings & Investments         Drop Line          CRISIL B       75      Reaffirmed
(Chennai) Pvt Ltd                       Overdraft Fac
Southern Holdings & Investments         LT Loan            CRISIL B       20      Reaffirmed
(Chennai) Pvt Ltd
Sree Santhosh Garments                  Ratings            -              -
CRISIL is yet to receive adequate information from Sree Santhosh
Garments (SSG) to enable it to undertake a rating review. CRISIL is taking all possible efforts
to get the rated entity to cooperate with its rating process for enabling it to carry out the
rating review. 
Stalwart Alloys India Pvt Ltd           Ratings            -              -
CRISIL is yet to receive adequate information from Stalwart Alloys India
Private Limited (SAIPL) to enable it to undertake a rating review. CRISIL is taking all possible
efforts to get the rated entity to cooperate with its rating process for enabling it to carry
out the rating review. 
Star Global Multi Ventures Pvt Ltd      Ratings            -              -
CRISIL is yet to receive adequate information from Star Global Multi
Ventures Private Limited (SGMV) to enable it to undertake a rating review. CRISIL is taking all
possible efforts to get the rated entity to cooperate with its rating process for enabling it to
carry out the rating review. 
Sterling Print House Pvt Ltd            CC                 CRISIL         45      Reaffirmed
                                                           BB/Stable              and Withdrawn
Sterling Print House Pvt Ltd            LT Loan            CRISIL         50      Reaffirmed
                                                           BB/Stable              and Withdrawn
Sterling Print House Pvt Ltd            Proposed LT Bk     CRISIL         5       Reaffirmed
                                        Loan Fac           BB/Stable              and Withdrawn
Subh Laxmi Cotton Pvt Ltd               CC                 CRISIL         80      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Subh Laxmi Cotton Pvt Ltd               TL                 CRISIL         11.2    Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Subham Enterprises                      CC                 CRISIL         10
                                                           B/Stable
(Issuer Not Cooperating)
Subhlene Fabrics                        CC                 CRISIL         95      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Subhlene Fabrics                        Proposed LT Bk     CRISIL         5       Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Sudhir Mandke Developers                Overdraft          CRISIL         50      Reaffirmed
                                                           B+/Stable
Sugam Vanijya Holdings Pvt Ltd          NCD                CRISIL BBB+    4480
Placed on Rating Watch with Negative Implications)
Sunbeam Lightweighting Solutions Pvt LtdNCD                CRISIL         2750    Downgraded
                                                           A+/Stable              from CRISIL
                                                                                  AA-/Stable)
Sunbeam Lightweighting Solutions Pvt LtdCC                 CRISIL         2150    Downgraded
                                                           A+/Stable              from CRISIL
                                                                                  AA-/Stable
Sunbeam Lightweighting Solutions Pvt LtdTL                 CRISIL         1000    Downgraded
                                                           A+/Stable              from CRISIL
                                                                                  AA-/Stable
Super Dynic Clothing Pvt Ltd            CC                 CRISIL         120     Downgraded
                                                           BB-/Stable             from CRISIL
                                                                                  BB/Stable
Super Dynic Clothing Pvt Ltd            LT Loan            CRISIL         5       Downgraded
                                                           BB-/Stable             from CRISIL
                                                                                  BB/Stable
Suraj Agro Co-Operative Society Ltd     Ratings            -              -
CRISIL is yet to receive adequate information from Suraj Agro CoOperative Society Limited (SAS)
to enable it to undertake a rating review. CRISIL is taking all possible efforts to get the
rated entity to cooperate with its rating process for enabling it to carry out the rating
review. 
Swami Feeds Pvt Ltd                     CC                 CRISIL         300     Downgraded
                                                           BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
Swami Feeds Pvt Ltd                     Proposed CC Limit  CRISIL         235     Downgraded
                                                           BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
Swami Feeds Pvt Ltd                     Proposed LT Bk     CRISIL         65      Downgraded
                                        Loan Fac           BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
T.J. Arumugam & Co.                     BG                 CRISIL A4      19      Reaffirmed
T.J. Arumugam & Co.                     CC - Book Debt     CRISIL B       35      Reaffirmed
T.J. Arumugam & Co.                     Proposed LT Bk     CRISIL B       1       Reaffirmed
                                        Loan Fac
T.J. Arumugam & Co.                     Secured Overdraft  CRISIL B       35      Reaffirmed
                                        Fac
Taylormade Renewables Ltd               Ratings            -              -
CRISIL is yet to receive adequate information from Taylormade Renewables Limited (TRL) to enable
it to undertake a rating review. CRISIL is taking all possible efforts to get the rated entity
to cooperate with its rating process for enabling it to carry out the rating review.
Tech Data Advanced Solutions (India)    CC                 CRISIL A-      1700
Pvt Ltd
Continues on Rating Watch with Negative Implications
Tech Data Advanced Solutions (India)    WC Fac             CRISIL A-      4040
Pvt Ltd
Continues on Rating Watch with Negative Implications
Technocrats Plasma Systems Pvt Ltd      CC                 CRISIL         50
                                                           B/Stable
(Issuer Not Cooperating)
Technocrats Plasma Systems Pvt Ltd      Proposed CC Limit  CRISIL         0.5
                                                           B/Stable
(Issuer Not Cooperating)
The Chennai Shopping Mall-Jewellers     CC                 CRISIL BBB+    60      Reaffirmed
Outlook revised from Stable
Tomco Engineering Pvt Ltd               Ratings            -              -
CRISIL is yet to receive adequate information from Tomco Engineering Private Limited (TEPL) to
enable it to undertake a rating review. CRISIL is taking all possible efforts to get the rated
entity to cooperate with its rating process for enabling it to carry out the rating review.
Transoceanic Agro Comm Pvt Ltd          Overdraft          CRISIL         20      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Tulsi Dal Mill                          Ratings            -              -
CRISIL is yet to receive adequate information from Tulsi Dal Mill (TDM) to
enable it to undertake a rating review. CRISIL is taking all possible efforts to get the rated
entity to cooperate with its rating process for enabling it to carry out the rating review. 
Uniton Enterprise Pvt Ltd               Ratings            -              -
CRISIL is yet to receive adequate information from Uniton Enterprise
Private Limited (UEPL) to enable it to undertake a rating review. CRISIL is taking all possible
efforts to get the rated entity to cooperate with its rating process for enabling it to carry
out the rating review.
V Chitti Babu                           TL                 CRISIL         114     Upgraded from
                                                           B+/Stable              CRISIL D
Vaishnodevi Refoils and Solvex          CC                 CRISIL         300     Assigned
                                                           BB+/Stable
Vaishnodevi Refoils and Solvex          TL                 CRISIL         10      Assigned
                                                           BB+/Stable
Vega Auto Accessories Pvt Ltd           CC                 CRISIL         70      Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  A-/Stable
(Issuer Not Cooperating)
Wow Momo Foods Pvt Ltd                  CC                 CRISIL         100     Reaffirmed
                                                           BBB-/Negative
Outlook revised from Stable
Wow Momo Foods Pvt Ltd                  LT Loan            CRISIL         400     Reaffirmed
                                                           BBB-/Negative
Outlook revised from Stable
Wow Momo Foods Pvt Ltd                  Proposed LT Bk     CRISIL         200     Reaffirmed
                                        Loan Fac           BBB-/Negative
Outlook revised from Stable
--------------------------------------------------------------------------------------------
$: 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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