May 11, 2020 / 7:18 AM / 19 days ago

CRISIL ratings for Indian debt instruments-May 11

   May 11  - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of May 8, 2020.


COMPANY                                INSTRUMENT          RATING         AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                 ----------          ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Arya Steels Rolling India Ltd           LOC                CRISIL A4      50      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Associated Power Structures Pvt Ltd     BG                 CRISIL A2+     3488    Reaffirmed
Associated Power Structures Pvt Ltd     Foreign Exchange   CRISIL A2+     37      Reaffirmed
                                        Forward
Associated Power Structures Pvt Ltd     Inland/Import LOC  CRISIL A2+     700     Reaffirmed
Associated Power Structures Pvt Ltd     Proposed ST Bk     CRISIL A2+     9.2     Reaffirmed
                                        Loan Fac
B. M. Foods                             BG                 CRISIL A4      8.1     Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Baab Constructions (India) Pvt Ltd      BG                 CRISIL A4      30
(Issuer Not Cooperating)
Balaji Agro Pvt Ltd                     Export Packing     CRISIL A4      200     Revised from
                                        Credit                                    CRISIL A4+
(Issuer Not Cooperating)
Balaji Agro Pvt Ltd                     Foreign            CRISIL A4      80      Revised from
                                        Discounting Bill                          CRISIL A4+
                                        Purchase
(Issuer Not Cooperating)
Balaji Agro Pvt Ltd                     LOC & BG           CRISIL A4      20      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Balaji Agro Pvt Ltd                     Proposed LOC       CRISIL A4      15      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Baldeo Metals Pvt Ltd                   BG                 CRISIL A4      40      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Baldeo Metals Pvt Ltd                   LOC                CRISIL A4      300     Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Balodia Rice Mill                       BG                 CRISIL A4      30      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Bertling Logistics India Pvt Ltd        BG                 CRISIL A4      120     -
(Issuer Not Cooperating)
Bhawani Saw Mill-Bangalore              LOC                CRISIL A4      41      -
(Issuer Not Cooperating)
Branco Industries Pvt Ltd               Buyers Finance     CRISIL A4      40      -
(Issuer Not Cooperating)
Crompton Greaves Consumer Electricals   LOC*               CRISIL A1+     2800    Reaffirmed
Ltd
*Interchangeable with Buyers Credit and Bank Guarantee
Delicacies International                Export Bill        CRISIL A4      70      Revised from
                                        Purchase                                  CRISIL A4+
                                        -Discounting
(Issuer Not Cooperating)
Delicacies International                Export Packing     CRISIL A4      50      Revised from
                                        Credit                                    CRISIL A4+
(Issuer Not Cooperating)
Desai and Company                       BG                 CRISIL A4      8       Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Dev Priya Industries Pvt Ltd            BG                 CRISIL A4      20      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Dhundhwal Brothers                      BG                 CRISIL A4      60      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Dimple Creations Pvt Ltd                Bill Discounting   CRISIL A4      40      Revised from
                                        under LOC                                 CRISIL A4+
(Issuer Not Cooperating)
Dimple Creations Pvt Ltd                Packing Credit     CRISIL A4      150     Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Dinesh Brothers Pvt Ltd                 LOC                CRISIL A4      40      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Dinesh Brothers Pvt Ltd                 Packing Credit     CRISIL A4      45      Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Drillcon Infrastructure Pvt Ltd         BG                 CRISIL A4      100     Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Dudi and Company                        BG                 CRISIL A4      120     Revised from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Globex Laboratories (R&D) Ltd           Inland/Import LOC  CRISIL A4+     15      -
Downgraded from CRISIL A3
Luke Export                             Foreign Bill       CRISIL A4+     80      Reaffirmed
                                        Discounting
Luke Export                             Packing Credit     CRISIL A4+     80      Reaffirmed
Metalkraft Forming Industries Pvt Ltd   BG                 CRISIL A3+     2.5     Reaffirmed
Metalkraft Forming Industries Pvt Ltd   LOC                CRISIL A3+     20      Reaffirmed
National Housing Bank                   Proposed ST Bk     CRISIL A1+     80000   Reaffirmed
                                        Loan Fac
National Housing Bank                   CP                 CRISIL A1+     80000   Reaffirmed
(Enhanced from Rs.7000 Crore) 
Pilani Investment And Industries        CP                 CRISIL A1+     10000   Assigned
Corporation Ltd
Rex-Tone Industries Ltd                 Export Packing     CRISIL A3      285     -
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Downgraded from CRISIL A3+
Shivani Locks Pvt Ltd                   LOC                CRISIL A4      10      Reassigned
Speciality Restaurants Ltd              LOC & BG           CRISIL A2      5       -
Venus Industrial Corporation Pvt Ltd.   Import LOC Limit   CRISIL A4      5       Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)

MEDIUM TERM RATINGS:
-------------------
National Housing Bank                   FD Programme       FAAA/Stable    1466    Reaffirmed
 
LONG TERM RATINGS:
-------------------
Aashirvad Micro Finance                 Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Aashirvad Micro Finance (Aashirvad Micro
Finance) 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. 
Agarwal Toughened Glass India Pvt Ltd   CC                 CRISIL         30      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Agarwal Toughened Glass India Pvt Ltd   Electronic Dealer  CRISIL         20      Revised from
                                        Financing          B+/Stable              CRISIL
                                        Scheme(e-DFS)                             BB-/Stable
(Issuer Not Cooperating)
Agarwal Toughened Glass India Pvt Ltd   LT Loan            CRISIL         32.5    Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Agarwal Toughened Glass India Pvt Ltd   Standby LOC        CRISIL         4.5     Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Aruppukottai Shri Ramalinga Spinners    CC                 CRISIL         230     Reaffirmed
Pvt Ltd                                                    BB+/Stable
Arya Steels Rolling India Ltd           CC                 CRISIL         180     Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Asian Ventures                          Rating Advisory    -                      -
CRISIL is yet to receive adequate information from Asian Ventures (AV) 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.
Associated Power Structures Pvt Ltd     CC                 CRISIL         960     Reaffirmed
                                                           A-/Stable
Associated Power Structures Pvt Ltd     LT Loan            CRISIL         9.8     Reaffirmed
                                                           A-/Stable
AST Telecom Solar Pvt Ltd               Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from AST Telecom Solar
Private Limited (ASTIPL) 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.
Astitva Capital Market Pvt Ltd          Rating Advisory    -              -       -
. CRISIL is yet to receive adequate information from Astitva Capital Market
Private Limited (ACMPL) 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.
B. M. Foods                             CC                 CRISIL         47.4    Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
B. M. Foods                             TL                 CRISIL         24.5    Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Baab Constructions (India) Pvt Ltd      CC                 CRISIL B/Stable50
(Issuer Not Cooperating)
Baab Constructions (India) Pvt Ltd      Proposed TL        CRISIL B/Stable4.2
(Issuer Not Cooperating)
Bajrang Steel Sales Corporation.        Rating Advisory    -              -       -
has now initiated cooperation, has confirmed timeliness in debt servicing for April 2020
and has also provided ‘No Default Statement’ dated May 08, 2020.
Baldeo Metals Pvt Ltd                   CC                 CRISIL         50      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Baldeo Metals Pvt Ltd                   Proposed FB Bk     CRISIL         20      Revised from
                                        Limits             B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Balodia Rice Mill                       CC                 CRISIL         22.5    Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Balodia Rice Mill                       Proposed LT Bk     CRISIL         0.9     Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Balodia Rice Mill                       TL                 CRISIL         16.6    Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Bertling Logistics India Pvt Ltd        CC                 CRISIL         180     -
                                                           B/Stable
(Issuer Not Cooperating)
Bestovo Foods Pvt Ltd                   CC                 CRISIL         15      -
                                                           B/Stable
(Issuer Not Cooperating)
Bestovo Foods Pvt Ltd                   Proposed TL        CRISIL         18      -
                                                           B/Stable
(Issuer Not Cooperating)
Bestovo Foods Pvt Ltd                   TL                 CRISIL         67      -
                                                           B/Stable
(Issuer Not Cooperating)
Bhairavnath Hitech Agro Pvt Ltd         Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Bhairavnath Hitech
Agro Private Limited (BHAPL) 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. 
Bhawani Saw Mill-Bangalore              CC                 CRISIL B+      8       -
(Issuer Not Cooperating)
Bhawani Saw Mill-Bangalore              Proposed LT Bk     CRISIL B+      34      -
                                        Loan Fac
(Issuer Not Cooperating)
Bhumi Ginning & Seeds Processing Plant. CC                 CRISIL B+      50      -
(Issuer Not Cooperating)
Binod Car World Pvt Ltd                 CC                 CRISIL         40      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Binod Car World Pvt Ltd                 Channel Financing  CRISIL         40      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Binod Car World Pvt Ltd                 Proposed LT Bk     CRISIL         15.5    Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Branco Industries Pvt Ltd               CC                 CRISIL         40      -
                                                           B/Stable
(Issuer Not Cooperating)
Branco Industries Pvt Ltd               TL                 CRISIL         36      -
                                                           B/Stable
(Issuer Not Cooperating)
BRC Infra Pvt Ltd                       Secured Overdraft  CRISIL         60      Revised from
                                        Fac                B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Bremels Rubber Industries Pvt Ltd       BG                 CRISIL D       20      -
(Issuer Not Cooperating)
Bremels Rubber Industries Pvt Ltd       Bill Discounting   CRISIL D       30      -
(Issuer Not Cooperating)
Bremels Rubber Industries Pvt Ltd       CC                 CRISIL D       70      -
(Issuer Not Cooperating)
Bremels Rubber Industries Pvt Ltd       LOC                CRISIL D       20      -
(Issuer Not Cooperating)
Bremels Rubber Industries Pvt Ltd       TL                 CRISIL D       150     -
(Issuer Not Cooperating)
Brindavan Shelters Pvt Ltd              CC                 CRISIL         10      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Brindavan Shelters Pvt Ltd              Electronic Dealer  CRISIL         70      Revised from
                                        Financing          B+/Stable              CRISIL
                                        Scheme(e-DFS)                             BB-/Stable
(Issuer Not Cooperating)
Brindavan Shelters Pvt Ltd              Proposed LT Bk     CRISIL         20      Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Bruck Pharma Pvt Ltd                    TL                 CRISIL B/Stable192     -
(Issuer Not Cooperating)
Chakkra Coal India Pvt Ltd              Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Chakkra Coal India
Private Limited (CCIPL) 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. 
Crompton Greaves Consumer Electricals   CC#                CRISIL         500     Reaffirmed
Ltd                                                        AA+/Stable
#Interchangeable with non-fund-based limits
Crompton Greaves Consumer Electricals   NCD                CRISIL         3000    Assigned
Ltd                                                        AA+/Stable
Crompton Greaves Consumer Electricals   NCD                CRISIL         3500    Reaffirmed
Ltd                                                        AA+/Stable
Desai and Company                       CC                 CRISIL         60      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Desai and Company                       Proposed LT Bk     CRISIL         1.8     Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Desai and Company                       TL                 CRISIL         2       Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Dev Priya Industries Pvt Ltd            CC                 CRISIL         300     Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Dev Priya Industries Pvt Ltd            Proposed LT Bk     CRISIL         64.8    Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Dev Priya Industries Pvt Ltd            Rupee TL           CRISIL         115.2   Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Dhanashree Agro Products Pvt Ltd        Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Dhanashree Agro
Products Private Limited (DAPPL) 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. 
Dhundhwal Brothers                      Overdraft          CRISIL         20      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Dhundhwal Brothers                      Proposed LT Bk     CRISIL         20      Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Dimple Creations Pvt Ltd                TL                 CRISIL         60      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Dinesh Brothers Pvt Ltd                 Foreign Bill       CRISIL         70      Revised from
                                        Discounting        B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Dinesh Brothers Pvt Ltd                 Proposed FB Bk     CRISIL         42      Revised from
                                        Limits             B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Dinesh Brothers Pvt Ltd                 CC                 CRISIL         3       Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Dr. Kirpal Singh Bakshi Memorial Trust  Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Dr. Kirpal Singh Bakshi
Memorial Trust (DKSBMT) 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. 
Drillcon Infrastructure Pvt Ltd         CC                 CRISIL         80      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Dudi and Company                        CC/ Overdraft Fac  CRISIL         25      Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Dudi and Company                        Proposed LT Bk     CRISIL         40      Revised from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Future Mobile LLP                       CC                 CRISIL         750     Revised from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Ghan Marine Products                    Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Ghan Marine Products
(GMP) 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. 
Global Ispaat Pvt Ltd                   Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Global Ispaat Private
Limited (GIPL) 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. 
Globex Laboratories (R&D) Ltd           CC                 CRISIL BB+     65      -
Downgraded from CRISIL BBB-/Stable
Globex Laboratories (R&D) Ltd           LT Loan            CRISIL BB+     10      -
Downgraded from CRISIL BBB-/Stable
Hayat Hospital Pvt Ltd                  Rating Advisory    -                      -
CRISIL is yet to receive adequate information from Hayat Hospital Private
Limited (HHPL) 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 Mohan and Company (Exports) Pvt Ltd   CC                 CRISIL C       100     Reaffirmed
K Mohan and Company (Exports) Pvt Ltd   Export Packing     CRISIL C       80      Reaffirmed
                                        Credit
K Mohan and Company (Exports) Pvt Ltd   Proposed WC Fac    CRISIL C       385     Withdrawn
Kej Minerals Pvt Ltd                    Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Kej Minerals Private
Limited (KMPL) 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 
Kumaran Gin and Pressing Pvt Ltd        Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Kumaran Gin and Pressing Private Limited
(KGPPL) 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. 
Luke Export                             TL                 CRISIL         20      Reaffirmed
                                                           BB-/Stable
Maheshwari Fabtex Pvt Ltd               CC                 CRISIL D       80      Downgraded
                                                                                  from CRISIL
                                                                                  B+/Stable
Maheshwari Fabtex Pvt Ltd               LT Loan            CRISIL D       15      Downgraded
                                                                                  from CRISIL
                                                                                  B+/Stable
Maheshwari Fabtex Pvt Ltd               Proposed LT Bk     CRISIL D       5       Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  B+/Stable
Mayasheel Retail India Ltd              Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Mayasheel Retail India Limited (MRIL) 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. 
Metalkraft Forming Industries Pvt Ltd   CC                 CRISIL         280     Reaffirmed
                                                           BBB/Negative
Outlook revised from Stable
Metalkraft Forming Industries Pvt Ltd   LT Loan            CRISIL         22.5    Reaffirmed
                                                           BBB/Negative
Outlook revised from Stable
National Housing Bank                   Deposits Under     CRISIL         100000  Assigned
                                        Affordable Housing AAA/Stable
                                        Fund
National Housing Bank                   Deposits under     CRISIL         90000   Reaffirmed
                                        Rural Housing Fund AAA/Stable
                                        and under Urban Housing Fund*
*Rs 6,000 crore under Rural Housing Fund and Rs 3,000 crore under Urban Housing Fund 
National Housing Bank                   NCD                CRISIL         50000   Reaffirmed
                                                           AAA/Stable
National Housing Bank                   NCDs               CRISIL         80000   Reaffirmed
                                                           AAA/Stable
National Housing Bank                   Bonds              CRISIL         46401.33Reaffirmed
                                                           AAA/Stable
Neesarg Motors                          Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Neesarg Motors (NM)
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.B.I Construction Company              Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from P.B.I Construction
Company (PBI) 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. 
Palani Vijay Cottspin Pvt Ltd           Rating Advisory    -                      -
CRISIL is yet to receive adequate information from Palani Vijay Cottspin
Private Limited (PCPL) 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. 
Pareena Infrastructures Pvt Ltd         Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Pareena Infrastructures
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. 
R. S. Expo Fabs Pvt Ltd                 Rating Advisory                           -
CRISIL is yet to receive adequate information from R. S. Expo Fabs
Private Limited (RSEF) 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. 
Rajashri Foods Pvt Ltd                  CC                 CRISIL         9
                                                           B+/Stable
Rajashri Foods Pvt Ltd                  Proposed WC Fac    CRISIL         16
                                                           B+/Stable
Rajashri Foods Pvt Ltd                  TL                 CRISIL         175
                                                           B+/Stable
Rex-Tone Industries Ltd                 CC                 CRISIL BBB-    55      -
Downgraded from 'CRISIL BBB/Stable
S. B . Construction                     Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from S. B . Construction
(SBC) 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. 
Saffron Lifestyle Traders Pvt Ltd       Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Saffron Lifestyle
Traders Private Limited (SLTPL) 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. 
Sakthi Steel Industries Ltd             Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Sakthi Steel Industries
Limited (SSIL) 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. 
Shivani Locks Pvt Ltd                   CC                 CRISIL         150     Migrated from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
Shivani Locks Pvt Ltd                   Proposed LT Bk     CRISIL         40      Migrated from
                                        Loan Fac           B+/Stable              CRISIL
                                                                                  BB/Stable
Shivani Locks Pvt Ltd                   TL                 CRISIL         250     Migrated from
                                                           B+/Stable              CRISIL
                                                                                  BB/Stable
Shree Hanumanjee Modern Rice Mill Pvt   Rating Advisory    -              -       -
Ltd
CRISIL is yet to receive adequate information from Shree Hanumanjee
Modern Rice Mill Private Limited (SHMRMPL) 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. 
Shree Sai Calnates India Pvt Ltd        Rating Advisory    -                      -
CRISIL is yet to receive adequate information from Shree Sai Calnates
India Private Limited (SSCIPL) 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. 
Speciality Restaurants Ltd              Overdraft          CRISIL         95      -
                                                           BBB+/Stable
Speciality Restaurants Ltd              Proposed LT Bk     CRISIL         500     -
                                        Loan Fac           BBB+/Stable
Tayal Sons Ltd                          Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from Tayal Sons Limited
(TSL) 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. 
The Be Be Rubber Estates Ltd            CC                 CRISIL         48.5    Downgraded
                                                           B-/Stable              from CRISIL
                                                                                  B/Stable
The Be Be Rubber Estates Ltd            LT Loan            CRISIL         20      Downgraded
                                                           B-/Stable              from CRISIL
                                                                                  B/Stable
The Be Be Rubber Estates Ltd            Proposed LT Bk     CRISIL         3.8     Downgraded
                                        Loan Fac           B-/Stable              from CRISIL
                                                                                  B/Stable
The Share Macts Ltd                     Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from The Share Macts Ltd
(The Share Macts Ltd) 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. 
Venus Industrial Corporation Pvt Ltd.   CC                 CRISIL B+      120     Migrated from
                                                                                  CRISIL BB+
(Issuer Not Cooperating)
Venus Industrial Corporation Pvt Ltd.   LT Loan            CRISIL B+      240     Migrated from
                                                                                  CRISIL BB+
(Issuer Not Cooperating)
Venus Industrial Corporation Pvt Ltd.   Proposed FB Bk     CRISIL B+      85      Migrated from
                                        Limits                                    CRISIL BB+
(Issuer Not Cooperating)
YRK Constructions                       Rating Advisory    -              -       -
CRISIL is yet to receive adequate information from YRK Constructions
(YRK) 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. 
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$: 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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