May 21, 2018 / 7:15 AM / in 3 months

CRISIL ratings for Indian debt instruments-May 21

   May 21 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 18, 2018.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------         ------         -----    ---------
SHORT TERM RATINGS:
-------------------
A. B. Polypacks Pvt Ltd                 LOC                CRISIL A4+     25      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
AMDD Foods Pvt Ltd                      Packing Credit     CRISIL A4+     900     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
APU Constructions                       BG                 CRISIL A4      5       Assigned
Assam Air Products Pvt Ltd              BG                 CRISIL A3      30      Migrated from
                                                                                  CRISIL A3+
(Issuer Not Cooperating)
Climax Overseas Pvt Ltd                 BG                 -              7.5     Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Climax Overseas Pvt Ltd                 CC                 -              10      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Climax Overseas Pvt Ltd                 LOC                -              60      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Climax Overseas Pvt Ltd                 Post Shipment      -              110     Migrated from
                                        Credit                                    CRISIL A4+
(Issuer Not Cooperating)
Climax Overseas Pvt Ltd                 Pre Shipment Credit-              45      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Climax Overseas Pvt Ltd                 Proposed FB Bk     -              37.5    Migrated from
                                        Limits                                    CRISIL A4+
(Issuer Not Cooperating)
Baba Baidhnath Agro Cold Storage Pvt LtdOverdraft          CRISIL A4      2.9     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
BDG Polysteel Ltd                       Import LOC Limit   CRISIL A4+     70      Assigned
BDG Polysteel Ltd                       BG                 CRISIL A4+     16.2    Assigned
Chamong Tee Exports Pvt Ltd             Foreign Usance     CRISIL A4+     300     Downgraded
                                        Bills Purchase -                          from CRISIL
                                        Discounting                               A3
Chamong Tee Exports Pvt Ltd             Packing Credit     CRISIL A4+     300     Downgraded
                                                                                  from CRISIL
                                                                                  A3
Chamong Tee Exports Pvt Ltd             Proposed ST Bk     CRISIL A4+     9       Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  A3
Choudhary International Pvt Ltd         LOC                CRISIL A2      10      Upgraded from
                                                                                  CRISIL A3+
DPS Contractors Pvt Ltd                 BG                 CRISIL A4+     130     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Elpro International Ltd                 BG                 CRISIL A4+     15      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Elpro International Ltd                 LOC                CRISIL A4+     10      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Gawar Construction Ltd                  Proposed ST Bk     CRISIL A1      400     Reaffirmed
                                        Loan Fac
Gawar Construction Ltd                  CP                 CRISIL A1      250     Reaffirmed
Globex Laboratories (R&D) Ltd           Inland/Import LOC  CRISIL A3      15      Assigned
Icon Solar En Power Technologies Pvt LtdLOC                CRISIL A4+     50      Reaffirmed
IM Gears Pvt Ltd                        BG                 CRISIL A2+     10      Reaffirmed
IM Gears Pvt Ltd                        Export Bill        CRISIL A2+     15      Reaffirmed
                                        Rediscounting
IM Gears Pvt Ltd                        LOC                CRISIL A2+     40      Reaffirmed
IM Gears Pvt Ltd                        LOC & BG           CRISIL A2+     10      Reaffirmed
IM Gears Pvt Ltd                        Overdraft          CRISIL A2+     70      Reaffirmed
IM Gears Pvt Ltd                        Proposed ST Bk     CRISIL A2+     20.3    Reaffirmed
                                        Loan Fac
Inyati Footwears Ltd                    Packing Credit in  CRISIL A4+     50      Reaffirmed
                                        Foreign Currency
(Issuer Not Cooperating); Rating Migrated
Jai Bajrang Bajaj                       BG                 CRISIL A4+     13      Assigned
Jawahar Shetkari Sahakari Soot Girni LtdBG                 CRISIL A4      60.3    Reaffirmed
Jawahar Shetkari Sahakari Soot Girni LtdLOC                CRISIL A4      200     Reaffirmed
John Deere Financial India Pvt Ltd      CP (Enhanced from  CRISIL A1+     3000    Reaffirmed
                                        Rs.200 Crore)
Just Textiles Ltd                       LOC                CRISIL A4+     7.8     Upgraded from
                                                                                  CRISIL A4
Kadinya Enterprise                      LOC                CRISIL A4      50      Reaffirmed
Lakshmi Steel Rolling Mills - Unit II   Foreign Exchange   CRISIL A4+     14.4    Reaffirmed
                                        Forward
Lakshmi Steel Rolling Mills - Unit II   LOC                CRISIL A4+     760     Reaffirmed
Meso Pvt Ltd                            BG                 CRISIL A3+     5       Reaffirmed
Meso Pvt Ltd                            LOC                CRISIL A3+     35      Reaffirmed
Mother India Construction Pvt Ltd       BG                 CRISIL A4+     260     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
P. B. Construction Co.                  BG                 CRISIL A4+     170     Reaffirmed
(Issuer Not Cooperating)
Pallickal Agro Mills                    BG                 CRISIL A4      30      Reaffirmed
(Issuer Not Cooperating)
Pragati Electrocom Pvt Ltd              BG                 CRISIL A4+     61      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Satyendra Kumar Construction Pvt Ltd    BG                 CRISIL A4+     110     Reaffirmed
(Issuer Not Cooperating)
Shramanji Fabrics Pvt Ltd               BG                 CRISIL A4+     5       Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Shramanji Fabrics Pvt Ltd               Inland/Import LOC  CRISIL A4+     5       Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Siwal Infracon Pvt Ltd                  BG                 CRISIL A4      80      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Sterling Agro Industries Ltd            LOC & BG           CRISIL A1+     20      Upgraded from
                                                                                  CRISIL A1
Sunshakti Oil Refinery Pvt Ltd          LOC                CRISIL A4      30      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Rishab Gum And Chemicals                CC                 -              40      Migrated from
                                                                                  CRISIL A4;
                                                                                  Rating
                                                                                  Withdrawn
(Issuer Not Cooperating)
Rishab Gum And Chemicals                Foreign Bill       -              5       Migrated from
                                        Purchase                                  CRISIL A4;
                                                                                  Rating
                                                                                  Withdrawn
 (Issuer Not Cooperating)
Rishab Gum And Chemicals                Packing Credit     -              30      Migrated from
                                                                                  CRISIL A4;
                                                                                  Rating
                                                                                  Withdrawn
 (Issuer Not Cooperating)
Rishab Gum And Chemicals                Proposed LT Bk     -              5.2     Migrated from
                                        Loan Fac                                  CRISIL A4;
                                                                                  Rating
                                                                                  Withdrawn
 (Issuer Not Cooperating)
Rishab Gum And Chemicals                TL                 -              4.8     Migrated from
                                                                                  CRISIL A4;
                                                                                  Rating
                                                                                  Withdrawn
Issuer Not Cooperating)
Vodafone India Ltd                      LOC & BG*          CRISIL A1+     141781  Reaffirmed
*Interchangeable between Vodafone India Ltd and Vodafone Mobile Services Ltd
Vodafone India Ltd                      Proposed ST Bk     CRISIL A1+     24413.3 Reaffirmed
                                        Loan Fac
Vodafone India Ltd                      ST Loan            CRISIL A1+     20093.8 Reaffirmed

Vodafone India Ltd                      CP                 CRISIL A1+     20000   Reaffirmed
Vodafone Mobile Services Ltd            Proposed ST Bk     CRISIL A1+     12498.5 Reaffirmed
                                        Loan Fac
Vodafone Mobile Services Ltd            ST Loan            CRISIL A1+     32100.6 Reaffirmed
Vodafone Mobile Services Ltd            CP                 CRISIL A1+     20000   Reaffirmed
YOU Broadband India Ltd                 Proposed ST Bk     CRISIL A1+     1050    Reaffirmed
                                        Loan Fac
YOU Broadband India Ltd                 ST Loan            CRISIL A1+     450     Reaffirmed


LONG TERM RATINGS:
-------------------
A. B. Polypacks Pvt Ltd                 CC                 CRISIL BB+     69      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
A. B. Polypacks Pvt Ltd                 Proposed LT Bk     CRISIL BB+     6       Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating); Rating Migrated
Abdos Lamitubes Pvt Ltd                 CC                 CRISIL BB+     150     Migrated from
                                                                                  CRISIL BBB+
(Issuer Not Cooperating)
Abdos Lamitubes Pvt Ltd                 External           CRISIL BB+     320     Migrated from
                                        Commercial                                CRISIL BBB+
                                        Borrowings
(Issuer Not Cooperating)
Abdos Lamitubes Pvt Ltd                 LT Loan            CRISIL BB+     100     Migrated from
                                                                                  CRISIL BBB+
(Issuer Not Cooperating)
AMDD Foods Pvt Ltd                      CC                 CRISIL BB      400     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
AMDD Foods Pvt Ltd                      TL                 CRISIL BB      150     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
AMDD Foods Pvt Ltd                      Warehouse Receipts CRISIL BB      700     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Amtex Software Solutions Pvt Ltd        CC                 CRISIL B-      30      Reaffirmed
Amtex Software Solutions Pvt Ltd        Foreign Currency TLCRISIL B-      220     Reaffirmed
APU Constructions                       Overdraft          CRISIL B       97.5    Assigned
Assam Air Products Pvt Ltd              CC                 CRISIL BBB-    30      Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Assam Air Products Pvt Ltd              Proposed LT Bk     CRISIL BBB-    145.9   Migrated from
                                        Loan Fac                                  CRISIL BBB
(Issuer Not Cooperating)
Assam Air Products Pvt Ltd              TL                 CRISIL BBB-    94.1    Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Atria Power Corporation Pvt Ltd         TL                 CRISIL BB+     220     Migrated from
                                                                                  CRISIL BBB+
(Issuer Not Cooperating)
B. K. Polytech Pvt Ltd                  CC                 CRISIL B+      24.2    Reaffirmed
(Issuer Not Cooperating); Rating Migrated
B. K. Polytech Pvt Ltd                  LT Loan            CRISIL B+      70.8    Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Baba Baidhnath Agro Cold Storage Pvt LtdCC                 CRISIL B       28.8    Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Baba Baidhnath Agro Cold Storage Pvt LtdProposed LT Bk     CRISIL B       4.8     Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating); Rating Migrated
Baba Baidhnath Agro Cold Storage Pvt LtdTL                 CRISIL B       35.4    Reaffirmed
(Issuer Not Cooperating); Rating Migrated
BDG Polysteel Ltd                       Medium TL          CRISIL BB-     168.3   Assigned
BDG Polysteel Ltd                       CC                 CRISIL BB-     110     Assigned
Bharuch Jilla Kaival Kelavani Mandal    TL                 CRISIL D       87.4    Reaffirmed
(Issuer Not Cooperating); Rating Migrated
BLP Vayu (Project 1) Pvt Ltd            Proposed LT Bk     CRISIL A       510     -
                                        Loan Fac                                  
BLP Vayu (Project 1) Pvt Ltd            Rupee TL           CRISIL A       3010    -             
                                                                    
Choudhary International Pvt Ltd         Export Packing     CRISIL BBB+    290     Upgraded from
                                        Credit                                    CRISIL
                                                                                  BBB
Classic Hyundai                         CC                 CRISIL B       100     Downgraded
                                                                                  from CRISIL
                                                                                  B+
DPS Contractors Pvt Ltd                 CC                 CRISIL BB      20      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Elpro International Ltd                 CC                 CRISIL BB+     20      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Elpro International Ltd                 Proposed LT Bk     CRISIL BB+     35      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating); Rating Migrated
Elpro International Ltd                 TL                 CRISIL BB+     260     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Express Infocom Pvt Ltd                 Overdraft          CRISIL BB      17      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Express Infocom Pvt Ltd                 Proposed LT Bk     CRISIL BB      100     Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating); Rating Migrated
Express Infocom Pvt Ltd                 TL                 CRISIL BB      178     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Gagan Fibres Pvt Ltd                    CC                 CRISIL BB-     60      Assigned;
                                                                                  Suspension
                                                                                  Revoked
Ganga Roller Flour Mills Pvt Ltd        CC                 CRISIL BB+     80      Reaffirmed
Ganga Roller Flour Mills Pvt Ltd        Proposed LT Bk     CRISIL BB+     30      Reaffirmed
                                        Loan Fac
Ganga Roller Flour Mills Pvt Ltd        TL                 CRISIL BB+     60      Assigned
Gawar Construction Ltd                  BG**               CRISIL A+      950     Upgraded from
                                                                                  CRISIL
                                                                                  A
**Interchangeable with fund-based facilities
Gawar Construction Ltd                  CC                 CRISIL A+      550     Upgraded from
                                                                                  CRISIL
                                                                                  A
Gawar Construction Ltd                  CC & WC demand loanCRISIL A+      950     Upgraded from
                                                                                  CRISIL
                                                                                  A
Gawar Construction Ltd                  BG                 CRISIL A+      9150    Upgraded from
                                                                                  CRISIL
                                                                                  A
Globex Laboratories (R&D) Ltd           LT Loan            CRISIL BBB-    10      Assigned
Globex Laboratories (R&D) Ltd           CC                 CRISIL BBB-    65      Assigned
Happyhomess Consultancy Pvt Ltd         Proposed LT Bk     CRISIL B       90      Assigned
                                        Loan Fac
Hav Motors Pvt Ltd                      CC                 CRISIL B+      47.5    Reaffirmed
(Issuer Not Cooperating)
Hav Motors Pvt Ltd                      Electronic Dealer  CRISIL B+      70      Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
(Issuer Not Cooperating)
Hav Motors Pvt Ltd                      TL                 CRISIL B+      17.5    Reaffirmed
(Issuer Not Cooperating)
Hotel Babylon Capital Pvt Ltd           LT Loan            CRISIL B+      290     Reaffirmed
Hotel Raj Park Pvt Ltd                  LT Loan            CRISIL BB+     70.8    Reaffirmed
(Issuer Not Cooperating)
Hotel Raj Park Pvt Ltd                  Overdraft          CRISIL BB+     50      Reaffirmed
(Issuer Not Cooperating)
Hotel Raj Park Pvt Ltd                  Proposed CC Limit  CRISIL BB+     39.2    Reaffirmed
(Issuer Not Cooperating)
Icon Solar En Power Technologies Pvt LtdCC                 CRISIL BB+     140     Reaffirmed
Icon Solar En Power Technologies Pvt LtdLT Loan            CRISIL BB+     15      Reaffirmed
Icon Solar En Power Technologies Pvt LtdTL                 CRISIL BB+     35      Assigned
Icon Solar En Power Technologies Pvt LtdStandby Line of    CRISIL BB+     21      Assigned
                                        Credit
IM Gears Pvt Ltd                        CC                 CRISIL A-      244     Reaffirmed
IM Gears Pvt Ltd                        Export Packing     CRISIL A-      120     Reaffirmed
                                        Credit
IM Gears Pvt Ltd                        LT Loan            CRISIL A-      147.3   Reaffirmed
IM Gears Pvt Ltd                        Proposed LT Bk     CRISIL A-      10.4    Reaffirmed
                                        Loan Fac
IM Gears Pvt Ltd                        Standby Line of    CRISIL A-      25      Reaffirmed
                                        Credit
Inyati Footwears Ltd                    Bill Discounting   CRISIL BB+     100     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Inyati Footwears Ltd                    Proposed LT Bk     CRISIL BB+     50      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating); Rating Migrated
Jai Bajrang Bajaj                       CC                 CRISIL BB      40      Assigned
Janardhan Industries Ltd                CC                 CRISIL D       45      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Janardhan Industries Ltd                Proposed FB Bk     CRISIL D       13.5    Reaffirmed
                                        Limits
(Issuer Not Cooperating); Rating Migrated
Janardhan Industries Ltd                TL                 CRISIL D       8       Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Jawahar Shetkari Sahakari Soot Girni LtdCC                 CRISIL B       400     Reaffirmed
Jawahar Shetkari Sahakari Soot Girni LtdProposed LT Bk     CRISIL B       21.7    Reaffirmed
                                        Loan Fac
Jindal Rolling Mills Ltd                CC                                100     Reaffirmed
(Issuer Not Cooperating)
John Deere Financial India Pvt Ltd      Proposed LT Bk     CRISIL AAA     80      Reaffirmed
                                        Loan Fac
John Deere Financial India Pvt Ltd      TL                 CRISIL AAA     2620    Reaffirmed
Just Textiles Ltd                       CC                 CRISIL BB-     92.2    Upgraded from
                                                                                  CRISIL
                                                                                  B
Kadinya Enterprise                      CC                 CRISIL B+      50      Reaffirmed
Kissan Solvex Pvt Ltd                   CC                 CRISIL B       120     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
KPT Spinning Mills Pvt Ltd              CC                 CRISIL D       35      Downgraded
                                                                                  from CRISIL
                                                                                  B
KPT Spinning Mills Pvt Ltd              LT Loan            CRISIL D       25      Downgraded
                                                                                  from CRISIL
                                                                                  B
Krown Agrofoods Pvt Ltd                 TL                 CRISIL B       105     Assigned
Lakshmi Steel Rolling Mills - Unit II   CC                 CRISIL BB-     110     Reaffirmed
Lakshmi Steel Rolling Mills - Unit II   Proposed LT Bk     CRISIL BB-     35.6    Assigned
                                        Loan Fac
Maksi Agro Cool Chains Pvt Ltd          TL                 CRISIL B+      115     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Malwa Fresh Foods                       TL                 CRISIL B-      152.2   Reaffirmed
Manthan Software Services Pvt Ltd       CC/ Overdraft Fac  CRISIL B+      200     Reaffirmed
(Issuer Not Cooperating)
Mealite Foods Pvt Ltd                   CC                 CRISIL D       55      Downgraded
                                                                                  from CRISIL B
(Issuer Not Cooperating)
Mealite Foods Pvt Ltd                   TL                 CRISIL D       31      Downgraded
                                                                                  from CRISIL B
(Issuer Not Cooperating)
Meso Pvt Ltd                            Export Packing     CRISIL BBB     150     Reaffirmed
                                        Credit
Mother India Construction Pvt Ltd       Overdraft          CRISIL BB+     8       Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Mother India Construction Pvt Ltd       Proposed LT Bk     CRISIL BB+     30      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating); Rating Migrated
N. P. Syndicate - Kolkata               CC                 CRISIL BB-     80      Reaffirmed
(Issuer Not Cooperating)
Opera Global Pvt Ltd                    Export Packing     CRISIL BB+     200     Reaffirmed
                                        Credit
Opera Global Pvt Ltd                    TL                 CRISIL BB+     18      Assigned
Opera Global Pvt Ltd                    Proposed LT Bk     CRISIL BB+     8.7     Assigned
                                        Loan Fac
Pallickal Agro Mills                    CC                 CRISIL B+      60      Reaffirmed
(Issuer Not Cooperating)
Pallickal Agro Mills                    Proposed LT Bk     CRISIL B+      2.5     Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Pallickal Agro Mills                    Standby Line of    CRISIL B+      7.5     Reaffirmed
                                        Credit
(Issuer Not Cooperating)
Pallickal Roller Flour Mills Pvt Ltd    CC                 CRISIL BB-     50      Reaffirmed
Pallickal Roller Flour Mills Pvt Ltd    Proposed LT Bk     CRISIL BB-     22.5    Reaffirmed
                                        Loan Fac
Pallickal Roller Flour Mills Pvt Ltd    Standby Line of    CRISIL BB-     7.5     Reaffirmed
                                        Credit
Patson Steels Pvt Ltd                   CC                 CRISIL BB-     90      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Patson Steels Pvt Ltd                   Channel Financing  CRISIL BB-     120     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Pragati Electrocom Pvt Ltd              CC                 CRISIL BB-     100     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Pragati Electrocom Pvt Ltd              Proposed LT Bk     CRISIL BB-     54      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating); Rating Migrated
Premier Cryogenics Ltd                  CC                 CRISIL BB+     30      Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Premier Cryogenics Ltd                  TL                 CRISIL BB+     125     Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Raj Waterscape Properties Pvt Ltd       CC                 CRISIL D       250     Reaffirmed
Rasandik Auto Components Pvt Ltd        BG                 CRISIL D       10      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Rasandik Auto Components Pvt Ltd        CC                 CRISIL D       50      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Rasandik Auto Components Pvt Ltd        LOC                CRISIL D       10      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Rasandik Auto Components Pvt Ltd        Proposed LT Bk     CRISIL D       30      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
Rasandik Auto Components Pvt Ltd        TL                 CRISIL D       199.3   Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Rathi Bars Ltd                          CC                 CRISIL BBB     250     Reaffirmed
Rathi Bars Ltd                          Proposed LT Bk     CRISIL BBB     50      Reaffirmed
                                        Loan Fac
Realtech Nirman Pvt Ltd                 LT Loan            CRISIL BB+     200     Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Sai Leela Synthetics Pvt Ltd            CC                 CRISIL BBB-    384.8   Reaffirmed
Sai Leela Synthetics Pvt Ltd            LT Loan            CRISIL BBB-    128.2   Reaffirmed
Satyendra Kumar Construction Pvt Ltd    CC                 CRISIL BB      10      Reaffirmed
(Issuer Not Cooperating)
Seva Automotive Pvt Ltd                 CC                 CRISIL BB+     250     Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Seva Automotive Pvt Ltd                 Inventory Funding  CRISIL BB+     880     Migrated from
                                        Fac                                       CRISIL BBB-
(Issuer Not Cooperating)
Seva Automotive Pvt Ltd                 LT Loan            CRISIL BB+     387     Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Seva Automotive Pvt Ltd                 Proposed LT Bk     CRISIL BB+     83      Migrated from
                                        Loan Fac                                  CRISIL BBB-
(Issuer Not Cooperating)
Shramanji Fabrics Pvt Ltd               CC                 CRISIL BB+     70      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Shramanji Fabrics Pvt Ltd               Proposed LT Bk     CRISIL BB+     38.5    Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating); Rating Migrated
Shramanji Fabrics Pvt Ltd               TL                 CRISIL BB+     6.5     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Siwal Infracon Pvt Ltd                  CC                 CRISIL B+      69      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Solid Stone Co. Ltd                     CC                 CRISIL BB+     138     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Sterling Agro Industries Ltd            CC*                CRISIL A+      2350    Upgraded from
                                                                                  CRISIL
                                                                                  A 
*Fully interchangeable with packing credit, export packing credit, foreign 
 bills discounting/foreign bills purchase, letter of credit, working capital
 demand loans, short-term loans, and buyer's credit facilities. 
Sterling Agro Industries Ltd            External           CRISIL A+      1093.8  Upgraded from
                                        Commercial                                CRISIL
                                        Borrowings                                A 
Sterling Agro Industries Ltd            Proposed LT Bk     CRISIL A+      61.3    Upgraded from
                                        Loan Fac                                  CRISIL
                                                                                  A 
Sterling Agro Industries Ltd            TL                 CRISIL A+      1414.9  Upgraded from
                                                                                  CRISIL
                                                                                  A 
Sudesh Cotton Ginning and Pressing      CC                 CRISIL B+      30      Reaffirmed
Factory
(Issuer Not Cooperating)
Sudesh Cotton Ginning and Pressing      Warehouse Receipts CRISIL B+      60      Reaffirmed
Factory
(Issuer Not Cooperating)
Sunshakti Oil Refinery Pvt Ltd          CC                 CRISIL B       50      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Sunshakti Oil Refinery Pvt Ltd          Proposed LT Bk     CRISIL B       9       Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating); Rating Migrated
Sunshakti Oil Refinery Pvt Ltd          Rupee TL           CRISIL B       11      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Suvrat Pharmaceuticals Pvt Ltd          CC                 CRISIL B       10      Assigned
Suvrat Pharmaceuticals Pvt Ltd          TL                 CRISIL B       75      Assigned
Suyash Motors (Unit of Patton Logistic  CC                 CRISIL B+      25      Reaffirmed
Services Pvt Ltd)
(Issuer Not Cooperating)
Suyash Motors (Unit of Patton Logistic  Electronic Dealer  CRISIL B+      70      Reaffirmed
Services Pvt Ltd)                       Financing
                                        Scheme(e-DFS)
(Issuer Not Cooperating)
Suyash Motors (Unit of Patton Logistic  TL                 CRISIL B+      14.5    Reaffirmed
Services Pvt Ltd)
(Issuer Not Cooperating)
Tips Industries Ltd                     Overdraft          CRISIL BB      1000    Reaffirmed
(Issuer Not Cooperating)
Tips Industries Ltd                     Proposed LT Bk     CRISIL BB      250     Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Vindhyabasini Rice Mills Cluster Pvt LtdCC                 CRISIL D       60      Reaffirmed
(Issuer Not Cooperating)
Vindhyabasini Rice Mills Cluster Pvt LtdProposed LT Bk     CRISIL D       60      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Vindhyabasini Rice Mills Cluster Pvt LtdTL                 CRISIL D       40      Reaffirmed
(Issuer Not Cooperating)
Vodafone India Ltd                      CC & WC demand loanCRISIL AA-     15000   Downgraded
                                                                                  from CRISIL
                                                                                  AA
Removed from Rating Watch with Developing Implications
Vodafone India Ltd                      LOC & BG*          CRISIL AA-     44500   Downgraded
                                                                                  from CRISIL
                                                                                  AA
*Interchangeable between Vodafone India Ltd and Vodafone Mobile Services Ltd
Vodafone Mobile Services Ltd            LT Bk Fac          CRISIL AA-     4772.5  Downgraded
                                                                                  from CRISIL
                                                                                  AA
Removed from Rating Watch with Developing Implications
Vodafone Mobile Services Ltd            Rupee TL           CRISIL AA-     628.4   Downgraded
                                                                                  from CRISIL
                                                                                  AA
Removed from Rating Watch with Developing Implications
Vodafone Mobile Services Ltd            NCD                CRISIL AA-     35000   Downgraded
                                                                                  from CRISIL
                                                                                  AA;
                                                                                  Removed 
                                                                                  from Rating 
                                                                                  Watch with
                                                                                  Developing 
                                                                                  Implications
Vodafone Mobile Services Ltd            NCD                CRISIL AA-     40000   Downgraded
                                                                                  from CRISIL
                                                                                  AA; 
                                                                                  Removed 
                                                                                  from Rating 
                                                                                  Watch with
                                                                                  Developing 
                                                                                  Implications
Welga Foods Ltd                         CC                 CRISIL BB-     130     Assigned
Welga Foods Ltd                         LT Loan            CRISIL BB-     5       Assigned
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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@thomsonreuters.com)
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