March 5, 2018 / 5:33 AM / 3 months ago

CRISIL ratings for Indian debt instruments-Mar 5

    Mar 5 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of March 1, 2018.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A and J Microns Pvt Ltd                 BG                 CRISIL A4      11.4    Withdrawal
(Issuer Not Cooperating)
Advy Chemical Pvt Ltd                   BG                 CRISIL A4+     30      Reaffirmed
Advy Chemical Pvt Ltd                   Foreign Exchange   CRISIL A4+     5       Reaffirmed
                                        Forward
Advy Chemical Pvt Ltd                   LOC                CRISIL A4+     20      Reaffirmed
Aether Industries Ltd                   BG                 CRISIL A4+     20      Reaffirmed
Aether Industries Ltd                   LOC                CRISIL A4+     60      Reaffirmed
Aether Industries Ltd                   ST Bk Fac          CRISIL A4+     18      Reaffirmed
Akshit Enterprises Pvt Ltd              Bill Discounting   CRISIL A4+     30      Reaffirmed
                                        under LOC
Akshit Enterprises Pvt Ltd              LOC                CRISIL A4+     110     Reaffirmed
Akshit Enterprises Pvt Ltd              Standby Non-FB     CRISIL A4+     16.5    Reaffirmed
                                        Limit
Alpine Apparels Pvt Ltd                 BG                 CRISIL A4+     20      Reaffirmed
Alpine Apparels Pvt Ltd                 Foreign Bill       CRISIL A4+     160     Reaffirmed
                                        Discounting
Alpine Apparels Pvt Ltd                 LOC                CRISIL A4+     7.3     Reaffirmed
Alpine Apparels Pvt Ltd                 Packing Credit     CRISIL A4+     200     Reaffirmed
Apollo Hospitals International Ltd      Overdraft          CRISIL A3+     180     -
Armstrong Machine Builders Pvt Ltd      BG                 CRISIL A4+     50      Mgrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Ashok Iron Works Pvt Ltd                Proposed ST Bk     CRISIL A2+     70      Reaffirmed
                                        Loan Fac
Baba Saw Mill                           LOC                CRISIL A4      70      -
(Issuer Not Cooperating)
Bhalla International                    Export Packing     CRISIL A3+     80      Reaffirmed
                                        Credit
Bhati Associates Pvt Ltd                BG                 CRISIL A4+     80      Reaffirmed
D S Alloyd Pvt Ltd                      LOC                CRISIL A4+     240     Reaffirmed
Deepak Rugs                             Foreign Demand     CRISIL A4      30      Reaffirmed
                                        Bill Purchase
Deepak Rugs                             Packing Credit     CRISIL A4      55      Reaffirmed
Durable Ceramics Pvt Ltd                BG                 CRISIL A4      50      -
(Issuer Not Cooperating)
Durable Transformers Pvt Ltd            LOC                CRISIL A4      40      -
(Issuer Not Cooperating)
Expo Gas Containers Ltd                 Proposed ST Bk     CRISIL A4+     11.9    Assigned
                                        Loan Fac
Expo Gas Containers Ltd                 LOC                CRISIL A4+     5       Assigned
Expo Gas Containers Ltd                 BG                 CRISIL A4+     140     Assigned
Flovel Energy Pvt Ltd                   BG                 CRISIL A3+     730     Reaffirmed
Flovel Energy Pvt Ltd                   LOC                CRISIL A3+     310     Reaffirmed
Forbes Marshall Pvt Ltd                 BG                 CRISIL A1+     1420    Reaffirmed
Forbes Marshall Pvt Ltd                 LOC                CRISIL A1+     200     Reaffirmed
Goodwill Advance Construction Company   BG                 CRISIL A4+     250     Reaffirmed
Pvt Ltd
Grip Engineers Pvt Ltd                  BG                 CRISIL A4+     160     Reaffirmed
Grip Engineers Pvt Ltd                  LOC                CRISIL A4+     30      Reaffirmed
H Dipak and Co.                         Export Finance     CRISIL A2+     4450.5  Reaffirmed
                                        Limit
H Dipak and Co.                         Packing Credit     CRISIL A2+     1299.5  Reaffirmed
H Dipak and Co.                         Proposed ST Bk     CRISIL A2+     500     Reaffirmed
                                        Loan Fac
H. K. Timbers Pvt Ltd                   LOC                CRISIL A4      87.5    -
(Issuer Not Cooperating)
H. Riddhesh and Co.                     Foreign            CRISIL A4+     45      Withdrawal
                                        Discounting Bill
                                        Purchase
(Issuer Not Cooperating)
H. Riddhesh and Co.                     Packing Credit in  CRISIL A4+     45      Withdrawal
                                        Foreign Currency
(Issuer Not Cooperating)
Ind-Andhra Agro Products Pvt Ltd        Packing Credit     CRISIL A4      380     Reaffirmed
J. Kirit and Brothers                   LOC                CRISIL A4+     150     Reaffirmed
Jeet Impex                              Export Packing     CRISIL A4      60      Withdrawal
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
(Issuer Not Cooperating)
Jeet Impex                              Proposed ST Bk     CRISIL A4      40      Withdrawal
                                        Loan Fac
(Issuer Not Cooperating)
Jyoti Apparels                          Foreign Bill       CRISIL A4+     40      Downgraded
                                        Discounting                               from CRISIL A3
Jyoti Apparels                          Packing Credit in  CRISIL A4+     160     Downgraded
                                        Foreign Currency                          from CRISIL A3
Jyoti Apparels                          Proposed ST Bk     CRISIL A4+     10      Downgraded
                                        Loan Fac                                  from CRISIL A3
K D Kothari and Co                      Export Packing     CRISIL A4+     15      Reaffirmed
                                        Credit
K D Kothari and Co                      Post Shipment      CRISIL A4+     50      Reaffirmed
                                        Credit

Kallam Agro Products And Oils Pvt Ltd   BG                 CRISIL A4+     2.5     Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Kallam Agro Products And Oils Pvt Ltd   Export Packing     CRISIL A4+     30      Downgraded
                                        Credit & Export                           from CRISIL
                                        Bills Negotiation/                        A3+
                                        Foreign Bill 
                                        discounting
Kawarlal & Co                           Import LOC Limit   CRISIL A4+     150     Reaffirmed
Krohne Marshall Pvt Ltd                 BG                 CRISIL A2+     60      Reaffirmed
Krohne Marshall Pvt Ltd                 LOC                CRISIL A2+     10      Reaffirmed
Labdhi International Pvt Ltd            BG                 CRISIL A4      25      Withdrawal
(Issuer Not Cooperating)
Labdhi International Pvt Ltd            LOC                CRISIL A4      175     Withdrawal
(Issuer Not Cooperating)
Lamina International                    Export Packing     CRISIL A4+     18.5    Reaffirmed
                                        Credit
Lamina International                    Foreign Bill       CRISIL A4+     60      Reaffirmed
                                        Purchase
La-Tim Sourcing (India) Pvt Ltd         LOC                CRISIL A4+     80      Withdrawal
(Issuer Not Cooperating)
Mahindra and Mahindra Financial         ST Bk Fac          CRISIL A1+     14000   -
Services Ltd
Mahindra and Mahindra Financial         CP Programme       CRISIL A1+     85000   -
Services Ltd
Mandeep Cables Pvt Ltd                  BG                 CRISIL A4+     2.5     Withdrawal
(Issuer Not Cooperating)
Mandeep Cables Pvt Ltd                  LOC                CRISIL A4+     30      Withdrawal
(Issuer Not Cooperating)
Menzies Aviation Bobba (Bangalore) Pvt  BG                 CRISIL A1      500     Reaffirmed
Ltd
Murudeshwar Ceramics Ltd                BG                 CRISIL A4      49.5    Upgraded from
                                                                                  CRISIL D
Murudeshwar Ceramics Ltd                LOC                CRISIL A4      377     Upgraded from
                                                                                  CRISIL D
MYK Laticrete India Pvt Ltd             BG                 CRISIL A2+     4       Upgraded from
                                                                                  CRISIL A2
MYK Laticrete India Pvt Ltd             LOC                CRISIL A2+     20      Upgraded from
                                                                                  CRISIL A2
Nature Bio-Foods Ltd                    LOC & BG           CRISIL A2+     70      Reaffirmed
Olivia Impex Pvt Ltd                    BG                 CRISIL A3+     5       Reaffirmed
Olivia Impex Pvt Ltd                    LOC                CRISIL A3+     580     Reaffirmed
Olivia Impex Pvt Ltd                    Proposed ST Bk     CRISIL A3+     135     Reaffirmed
                                        Loan Fac
Pesca Marine Products Pvt Ltd           Export Packing     CRISIL A4+     250     Reaffirmed
                                        Credit
Pesca Marine Products Pvt Ltd           Proposed Export    CRISIL A4+     100     Reaffirmed
                                        Packing Credit
Plastiblends India Ltd                  LOC & BG           CRISIL A1      46      Reaffirmed
Plastiblends India Ltd                  CP                 CRISIL A1      150     Reaffirmed
R K Jain Infra projects Pvt. Ltd.       BG                 CRISIL A3      770     Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
R. S. Expo Fabs Pvt Ltd                 LOC                CRISIL A4+     30      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Raj Shyama Constructions Pvt Ltd        BG                 CRISIL A3+     1712.8  CRISIL A3+
Raj Shyama Constructions Pvt Ltd        Overdraft          CRISIL A3+     370     CRISIL A3+
Shanmukha Industries                    BG                 CRISIL A4      4.2     Assigned
Shantilal C. Mehta                      LOC                CRISIL A3      40      Reaffirmed
Shri Dutt India Pvt Ltd                 BG                 CRISIL A3      100     Reaffirmed
Shriram Transport Finance Co. Ltd       BG                 CRISIL A1+     16200   Reaffirmed
Shriram Transport Finance Co. Ltd       ST Bk Fac          CRISIL A1+     22690   Reaffirmed
Shriram Transport Finance Co. Ltd       ST Debt Programme  CRISIL A1+     50000   Reaffirmed
Tamilnad Mercantile Bank Ltd            CDs                CRISIL A1+     10000   Reaffirmed
Zuberi Engineering Company              BG                 CRISIL A4      400     Withdrawal
(Issuer Not Cooperating)
Zuberi Engineering Company              Inland/Import LOC  CRISIL A4      50      Withdrawal
(Issuer Not Cooperating)

MEDIUM TERM RATINGS:
-------------------

Mahindra and Mahindra Financial         FD Programme       FAAA           -       -
Services Ltd
Shriram Transport Finance Co. Ltd       FD Programme       FAAA           -       Reaffirmed


LONG TERM RATINGS:
-------------------
A and J Microns Pvt Ltd                 CC                 CRISIL B       80      Withdrawal
(Issuer Not Cooperating)
A and J Microns Pvt Ltd                 TL                 CRISIL B       118.6   Withdrawal
(Issuer Not Cooperating)
Advy Chemical Pvt Ltd                   CC                 CRISIL BB+     70      Reaffirmed
Outlook revised from Positive
Advy Chemical Pvt Ltd                   Export Packing     CRISIL BB+     50      Reaffirmed
                                        Credit
Outlook revised from Positive
Advy Chemical Pvt Ltd                   TL                 CRISIL BB+     30      Reaffirmed
Outlook revised from Positive
Aether Industries Ltd                   Bill Discounting   CRISIL BB      70      Reaffirmed
Aether Industries Ltd                   CC                 CRISIL BB      160     Reaffirmed
Aether Industries Ltd                   Standby Line of    CRISIL BB      20      Reaffirmed
                                        Credit
Aether Industries Ltd                   TL                 CRISIL BB      640     Reaffirmed
Akshit Enterprises Pvt Ltd              Proposed WC Fac    CRISIL BB+     53.8    Reaffirmed
Akshit Enterprises Pvt Ltd              Standby Line of    CRISIL BB+     16.5    Reaffirmed
                                        Credit
Akshit Enterprises Pvt Ltd              TL                 CRISIL BB+     6.2     Reaffirmed
Akshit Enterprises Pvt Ltd              WC Fac             CRISIL BB+     110     Reaffirmed
Alliance Fibres Ltd                     BG                 CRISIL D       7.2     -
(Issuer Not Cooperating)
Alliance Fibres Ltd                     CC                 CRISIL D       457.3   -
(Issuer Not Cooperating)
Alliance Fibres Ltd                     Proposed LT Bk     CRISIL D       194.7   -
                                        Loan Fac
(Issuer Not Cooperating)
Alliance Fibres Ltd                     TL                 CRISIL D       150.8   -
(Issuer Not Cooperating)
Alpine Apparels Pvt Ltd                 TL                 CRISIL BB-     12.7    Reaffirmed
Aphrodite Infra Pvt Ltd                 LT Loan            CRISIL B+      400     Withdrawal
(Issuer Not Cooperating)
Apollo Hospitals International Ltd      TL                 CRISIL BBB     920     -
Armstrong Machine Builders Pvt Ltd      CC                 CRISIL BB+     50      Mgrated from
                                                                                  CRISIL BB
(Issuer Not Cooperating)
Armstrong Machine Builders Pvt Ltd      Proposed LT Bk     CRISIL BB+     20      Mgrated from
                                        Loan Fac                                  CRISIL BB
(Issuer Not Cooperating)
Ashok Iron Works Pvt Ltd                CC                 CRISIL A-      150     Reaffirmed
Ashok Iron Works Pvt Ltd                External           CRISIL A-      68.3    Reaffirmed
                                        Commercial
                                        Borrowings
Ashok Iron Works Pvt Ltd                Proposed LT Bk     CRISIL A-      1000    Reaffirmed
                                        Loan Fac
Baba Saw Mill                           CC                 CRISIL B       30      -
(Issuer Not Cooperating)
Baidyanath Power Pvt Ltd                CC                 CRISIL A-      70      Reaffirmed
Baidyanath Power Pvt Ltd                Proposed LT Bk     CRISIL A-      210     Reaffirmed
                                        Loan Fac
Baidyanath Power Pvt Ltd                TL                 CRISIL A-      970     Reaffirmed
Bhalla International                    Proposed LT Bk     CRISIL BBB     45      Reaffirmed
                                        Loan Fac
Bhati Associates Pvt Ltd                CC                 CRISIL BB-     80      Reaffirmed
Bherawa Textile Industries Pvt Ltd      CC                 CRISIL B-      110     Withdrawal
(Issuer Not Cooperating)
Bherawa Textile Industries Pvt Ltd      LT Loan            CRISIL B-      58.2    Withdrawal
(Issuer Not Cooperating)
Bherawa Textile Industries Pvt Ltd      Proposed LT Bk     CRISIL B-      15.3    Withdrawal
                                        Loan Fac
(Issuer Not Cooperating)
Bherawa Textile Industries Pvt Ltd      Standby Line of    CRISIL B-      16.5    Withdrawal
                                        Credit
(Issuer Not Cooperating)
Bimla Maru Fashions Pvt Ltd             CC                 CRISIL D       250     -
(Issuer Not Cooperating)
Bimla Maru Fashions Pvt Ltd             LOC                CRISIL D       140     -
(Issuer Not Cooperating)
Bimla Maru Fashions Pvt Ltd             Proposed LT Bk     CRISIL D       12.5    -
                                        Loan Fac
(Issuer Not Cooperating)
D S Alloyd Pvt Ltd                      Bill Discounting   CRISIL BB+     140     Reaffirmed
D S Alloyd Pvt Ltd                      CC                 CRISIL BB+     150     Reaffirmed
D S Alloyd Pvt Ltd                      Proposed WC Fac    CRISIL BB+     100     Reaffirmed
Durable Ceramics Pvt Ltd                CC                 CRISIL B+      130     -
(Issuer Not Cooperating)
Durable Transformers Pvt Ltd            CC                 CRISIL B+      140     -
(Issuer Not Cooperating)
Expo Gas Containers Ltd                 Drop Line          CRISIL BB-     143.1   Assigned
                                        Overdraft Fac
Expo Gas Containers Ltd                 CC                 CRISIL BB-     100     Assigned
Fabjewels Pvt Ltd                       CC                 CRISIL BBB     400     Reaffirmed
Fine Wood Products Pvt Ltd              Buyer`s Credit     CRISIL BB-     350     Withdrawal
(Issuer Not Cooperating)
Fine Wood Products Pvt Ltd              CC                 CRISIL BB-     50      Withdrawal
(Issuer Not Cooperating)
Flovel Energy Pvt Ltd                   CC                 CRISIL BBB     135     Reaffirmed
Flovel Energy Pvt Ltd                   LT Loan            CRISIL BBB     45.5    Reaffirmed
Flovel Energy Pvt Ltd                   TL                 CRISIL BBB     19.5    Reaffirmed
Forbes Marshall Pvt Ltd                 CC                 CRISIL A+      650     Reaffirmed
Forbes Marshall Pvt Ltd                 Proposed LT Bk     CRISIL A+      80      Reaffirmed
                                        Loan Fac
G R R Industries Pvt Ltd                CC                 CRISIL B       80      -
(Issuer Not Cooperating)
G R R Industries Pvt Ltd                Proposed FB Bk     CRISIL B       10      -
                                        Limits
(Issuer Not Cooperating)
Goodwill Advance Construction Company   Overdraft          CRISIL BB+     70      Reassigned
Pvt Ltd
Grip Engineers Pvt Ltd                  CC                 CRISIL BB+     70      Reaffirmed
Grip Engineers Pvt Ltd                  Proposed LT Bk     CRISIL BB+     15      Reaffirmed
                                        Loan Fac
H. K. Timbers Pvt Ltd                   CC                 CRISIL B       60      -
(Issuer Not Cooperating)
Hari Oil & General Mills                CC                 CRISIL BB+     100     Reaffirmed
Hari Oil & General Mills                Proposed LT Bk     CRISIL BB+     30      Reaffirmed
                                        Loan Fac
Hothur Ispat Pvt Ltd                    Proposed FB Bk     CRISIL B+      300     Assigned
                                        Limits
Suspension Revoked
Hothur Ispat Pvt Ltd                    Proposed TL        CRISIL B+      100     Assigned
Suspension Revoked
Ind-Andhra Agro Products Pvt Ltd        CC                 CRISIL B-      30      Reaffirmed
Jupiter Buildtech Pvt Ltd               Rupee TL           CRISIL B       90      Withdrawal
(Issuer Not Cooperating)
K D Kothari and Co                      Credit Limit Under CRISIL BB-     10      Downgraded
                                        Gold Card                                 from CRISIL BB
K D Kothari and Co                      Proposed LT Bk     CRISIL BB-     35      Downgraded
                                        Loan Fac                                  from CRISIL BB
Kallam Agro Products And Oils Pvt Ltd   CC                 CRISIL BB+     500     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Kallam Agro Products And Oils Pvt Ltd   LT Loan            CRISIL BB+     57.5    Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Kalpaka Transport Co Pvt Ltd            Overdraft          CRISIL B+      90      Withdrawal
(Issuer Not Cooperating)
Katiyar Cold Storage Pvt Ltd            CC                 CRISIL B-      36      -
(Issuer Not Cooperating)
Katiyar Cold Storage Pvt Ltd            LT Loan            CRISIL B-      22      -
(Issuer Not Cooperating)
Katiyar Cold Storage Pvt Ltd            Proposed WC Fac    CRISIL B-      32      -
(Issuer Not Cooperating)
Kawarlal & Co                           CC                 CRISIL BB+     100     Migrated from
                                                                                  CRISIL BB
Kirloskar Integrated Technologies Pvt   WC Demand Loan*    CRISIL B-      10      Reaffirmed
Ltd                                                                               and Withdrawal
*Interchangeable with cash credit
Krohne Marshall Pvt Ltd                 CC                 CRISIL A-      75      Reaffirmed
Krohne Marshall Pvt Ltd                 Proposed LT Bk     CRISIL A-      10      Reaffirmed
                                        Loan Fac
Labdhi International Pvt Ltd            CC                 CRISIL B-      70      Withdrawal
(Issuer Not Cooperating)
La-Tim Sourcing (India) Pvt Ltd         CC                 CRISIL BB-     30      Withdrawal
(Issuer Not Cooperating)
La-Tim Sourcing (India) Pvt Ltd         Proposed LT Bk     CRISIL BB-     140     Withdrawal
                                        Loan Fac
(Issuer Not Cooperating)
Lovely Enterprises Pvt Ltd              CC                 CRISIL D       250     -
(Issuer Not Cooperating)
Mahindra and Mahindra Financial         CC                 CRISIL AA+     18520   -
Services Ltd
Mahindra and Mahindra Financial         LT Bk Fac          CRISIL AA+     120350  -
Services Ltd
Mahindra and Mahindra Financial         Proposed LT Bk     CRISIL AA+     53560   -
Services Ltd                            Loan Fac
Mahindra and Mahindra Financial         NCDs               CRISIL AA+     5921    -
Services Ltd
Mahindra and Mahindra Financial         Subordinated Debt  CRISIL AA+     7388    -
Services Ltd                            Programme
Mandeep Cables Pvt Ltd                  CC                 CRISIL BB-     50      Withdrawal
(Issuer Not Cooperating)
Mandeep Cables Pvt Ltd                  Proposed CC Limit  CRISIL BB-     25      Withdrawal
(Issuer Not Cooperating)
Mandeep Cables Pvt Ltd                  Proposed LT Bk     CRISIL BB-     20      Withdrawal
                                        Loan Fac
(Issuer Not Cooperating)
Marut Nandan Textiles Ltd               CC                 CRISIL B+      100     Reaffirmed
Marut Nandan Textiles Ltd               Proposed CC Limit  CRISIL B+      13.7    Reaffirmed
Marut Nandan Textiles Ltd               TL                 CRISIL B+      6.3     Reaffirmed
Murudeshwar Ceramics Ltd                CC                 CRISIL B+      725.8   Upgraded from
                                                                                  CRISIL D
Murudeshwar Ceramics Ltd                TL                 CRISIL B+      26.2    Upgraded from
                                                                                  CRISIL D
MYK Laticrete India Pvt Ltd             CC                 CRISIL A-      230     Upgraded from
                                                                                  CRISIL BBB+
MYK Laticrete India Pvt Ltd             Proposed LT Bk     CRISIL A-      146     Upgraded from
                                        Loan Fac                                  CRISIL BBB+
Nature Bio-Foods Ltd                    Proposed LT Bk     CRISIL A-      35      Reaffirmed
                                        Loan Fac
Nature Bio-Foods Ltd                    WC Fac             CRISIL A-      1020    Reaffirmed
Olivia Impex Pvt Ltd                    CC                 CRISIL BBB     19.9    Reaffirmed
Olivia Impex Pvt Ltd                    Proposed LT Bk     CRISIL BBB     55.1    Reaffirmed
                                        Loan Fac
Paramashiva Motors Pvt Ltd              CC                 CRISIL B+      10      Reaffirmed
Paramashiva Motors Pvt Ltd              Inventory Funding  CRISIL B+      100     Reaffirmed
                                        Fac
Paramashiva Motors Pvt Ltd              LT Loan            CRISIL B+      30      Reaffirmed
Paramashiva Motors Pvt Ltd              LT Bk Fac          CRISIL B+      20      Reaffirmed
Plastiblends India Ltd                  CC*                CRISIL A+      210     Reaffirmed
* Interchangeable with export packing credit, buyer's credit, post-shipment credit in foreign
currency, working capital demand loan, and export bill discounting.
Plastiblends India Ltd                  CC^                CRISIL A+      200     Reaffirmed
^ Interchangeable with letter of credit, buyer's credit, working capital demand loan,
pre-shipment credit and post-shipment credit upto Rs.20 crore and bank guarantee upto Rs.10
crore.
Plastiblends India Ltd                  Packing Credit**   CRISIL A+      700     Reaffirmed
** Interchangeable with cash credit, export bill discounting, buyer's credit, post-shipment in
foreign currency, and working capital demand loan.
Plastiblends India Ltd                  Proposed FB Bk     CRISIL A+      4       Reaffirmed
                                        Limits
Pontika Aerotech Ltd                    CC                 CRISIL BB-     100     Assigned
Pontika Aerotech Ltd                    TL                 CRISIL BB-     350     Assigned
R K Jain Infra projects Pvt. Ltd.       CC                 CRISIL BBB-    50      Migrated from
                                                                                  CRISIL BB
(Issuer Not Cooperating)
R. S. Expo Fabs Pvt Ltd                 CC                 CRISIL BB      100     Migrated from
                                                                                  CRISIL BB
(Issuer Not Cooperating)
Rahu Health and Medical Tourism Pvt Ltd TL                 CRISIL BBB+    70      Reaffirmed
Raj Shyama Constructions Pvt Ltd        CC                 CRISIL BBB     110     CRISIL BBB
Raj Shyama Constructions Pvt Ltd        Drop Line          CRISIL BBB     200     CRISIL BBB
                                        Overdraft Fac
Raj Shyama Constructions Pvt Ltd        Proposed LT Bk     CRISIL BBB     7.2     CRISIL BBB
                                        Loan Fac
Refratherm International Pvt Ltd        CC                 CRISIL B+      109.6   Reaffirmed
Refratherm International Pvt Ltd        TL                 CRISIL B+      140.4   Reaffirmed
RG Royal Hotel & Convention             TL                 CRISIL D       100     Assigned
Rishita Developers Pvt Ltd              LT Loan            CRISIL BB+     250     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Rutu Enterprises                        CC                 Withdrawal     10      Withdrawal
(Issuer Not Cooperating)
Rutu Enterprises                        Proposed LT Bk     Withdrawal     190     Withdrawal
                                        Loan Fac
(Issuer Not Cooperating)
S. M. T. Hi-Teck Polymer                CC                 CRISIL D       67.5    Assigned
Shanmukha Industries                    Proposed LT Bk     CRISIL B+      40.8    Assigned
                                        Loan Fac
Shanmukha Industries                    LT Loan            CRISIL B+      30      Assigned
Shanmukha Industries                    CC                 CRISIL B+      25      Assigned
Shantilal C. Mehta                      CC                 CRISIL BBB-    60      Reaffirmed
Shantilal C. Mehta                      Proposed LT Bk     CRISIL BBB-    30      Reaffirmed
                                        Loan Fac
Shantilal C. Mehta                      WC Fac             CRISIL BBB-    60      Reaffirmed
Shri Dutt India Pvt Ltd                 CC                 CRISIL BBB-    2100    Reaffirmed
Outlook revised from Stable
Shri Dutt Polytextiles                  CC                 CRISIL BBB-    250     Reaffirmed
Outlook revised from Stable
Shri Krishna Jute Traders               CC                 CRISIL BB+     120     Reaffirmed
Outlook revised from Stable
Shriram Transport Finance Co. Ltd       BG                 CRISIL AA+     5500    Reaffirmed
Shriram Transport Finance Co. Ltd       CC & WC demand loanCRISIL AA+     63590   Reaffirmed
Shriram Transport Finance Co. Ltd       LT Bk Fac@         CRISIL AA+     194740  Reaffirmed
@Long term bank facilities of Rs 1243 crore transferred from Shriram Equipment Finance Company
Limited to Shriram Transport Finance Company Limited upon amalgamation of the former with
latter.
Shriram Transport Finance Co. Ltd       Proposed LT Bk     CRISIL AA+     59710   Reaffirmed
                                        Loan Fac
Shriram Transport Finance Co. Ltd       NCD                CRISIL AA+     30000   Assigned
Shriram Transport Finance Co. Ltd       Subordinated Debt  CRISIL AA+     1317    Reaffirmed
                                        # 
#Transferred from Shriram Equipment Finance Company Limited to Shriram Transport Finance Company
Limited upon amalgamation of the former with latter.
Shriram Transport Finance Co. Ltd       NCDs               CRISIL AA+     252800  Reaffirmed
Shriram Transport Finance Co. Ltd       Subordinated Debt  CRISIL AA+     15000   Reaffirmed
                                        Issue (Tier-II
                                        Bonds)
Srinivas Papers                         CC                 CRISIL BB-     400     Reaffirmed
Tropilite Foods Pvt Ltd                 CC                 CRISIL BBB     125     Reaffirmed
Tropilite Foods Pvt Ltd                 Proposed CC Limit  CRISIL BBB     30      Reaffirmed
Tropilite Foods Pvt Ltd                 Proposed TL        CRISIL BBB     30      Reaffirmed
Tropilite Foods Pvt Ltd                 TL                 CRISIL BBB     40      Reaffirmed
Vora Packaging Pvt Ltd                  CC                 CRISIL B+      110     Reaffirmed
Vora Packaging Pvt Ltd                  Proposed LT Bk     CRISIL B+      10      Reaffirmed
                                        Loan Fac
Vora Packaging Pvt Ltd                  TL                 CRISIL B+      80      Reaffirmed
Zuberi Engineering Company              CC                 CRISIL B+      80      Withdrawal
(Issuer Not Cooperating)
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

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

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

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