May 22, 2018 / 6:32 AM / 5 months ago

CRISIL ratings for Indian debt instruments-May 22

    May 22 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 21, 2018.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A.T.E. Enterprises Pvt Ltd              LOC                CRISIL A3      30      Reaffirmed
Agsons Agencies India Pvt Ltd           LOC                CRISIL A4+     700     Reaffirmed
Armor Plast Ltd                         Export Packing     CRISIL A4+     25      Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Asirvad Microfinance Ltd                CP Programme       CRISIL A1+     4000    Reaffirmed
Asvini Fisheries Pvt Ltd                BG                 CRISIL A2+     50      Reaffirmed
Asvini Fisheries Pvt Ltd                Export Packing     CRISIL A2+     540     Reaffirmed
                                        Credit
Asvini Fisheries Pvt Ltd                Foreign Bill       CRISIL A2+     340     Reaffirmed
                                        Discounting
Bang Data Forms Pvt Ltd                 LOC                CRISIL A2      90      Reaffirmed
Beloorbayir Biotech Ltd                 Foreign            CRISIL A4+     30      Migrated
                                        Discounting Bill                          from CRISIL A3
                                        Purchase
(Issuer Not Cooperating)
Beloorbayir Biotech Ltd                 LOC                CRISIL A4+     40      Migrated
                                                                                  from CRISIL A3
(Issuer Not Cooperating)
Bihani International Pvt Ltd            BG                 CRISIL A4+     7.5     Reaffirmed
CTM Technical Textiles Ltd              BG                 CRISIL A4+     32      Reaffirmed
CTM Technical Textiles Ltd              LOC                CRISIL A4+     3       Reaffirmed
Galaxy Machinery Pvt Ltd                BG                 CRISIL A4      10      Reaffirmed
Galaxy Machinery Pvt Ltd                LOC                CRISIL A4      30      Reaffirmed
Global Foods                            Packing Credit     CRISIL A4      300     Revised from
                                                                                  CRISIL A4 to
                                                                                  CRISIL D and
simultaneously upgraded to CRISIL A4
Jalan Jee Polytex Ltd                   LOC                CRISIL A4      10      Reaffirmed
Kalpataru Power Transmission Ltd        LOC & BG           CRISIL A1+     73600
Kalpataru Power Transmission Ltd        Proposed LOC & BG  CRISIL A1+     8670
Kalpataru Power Transmission Ltd        LOC & BG^          CRISIL A1+     750
^Interchangeable with fund-based limits; however, overall fund-based limits will not exceed
Rs.1000 crore
Kalpataru Power Transmission Ltd        CP                 CRISIL A1+     2500
Kanodia Global Pvt Ltd                  Packing Credit     CRISIL A3      101     Assigned
Manappuram Home Finance Pvt Ltd         CP                 CRISIL A1+     250     Reaffirmed
Maruti Motors-Faridabad                 BG                 CRISIL A4+     95      Reaffirmed
Mittapalli Agro Enterprises             Packing Credit     CRISIL A4+     70      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Mittapalli Agro Exports                 Packing Credit     CRISIL A4+     110     Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Mittapalli Agro Products Pvt Ltd        BG                 CRISIL A4+     5       Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Mittapalli Agro Products Pvt Ltd        Foreign Exchange   CRISIL A4+     5       Migrated from
                                        Forward                                   CRISIL A4+
(Issuer Not Cooperating)
N. K. Bhojani Pvt Ltd                   BG                 CRISIL A4      70      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
N. K. Bhojani Pvt Ltd                   LOC                CRISIL A4      7.5     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
P N Shanavas                            BG                 CRISIL A4+     132     Reaffirmed
Piaggio Vehicles Pvt Ltd                BG                 CRISIL A1      2000
Piaggio Vehicles Pvt Ltd                Bill Discounting   CRISIL A1      2700
Piaggio Vehicles Pvt Ltd                LOC & BG           CRISIL A1      2160
Piaggio Vehicles Pvt Ltd                Bill Discounting^  CRISIL A1      300
^Interchangeable with Letter of Credit and Bank Guarantee
Pratipa Cashews                         Bill Discounting   CRISIL A4+     30      Reaffirmed
Pratipa Cashews                         Standby Line of    CRISIL A4+     12.8    Reaffirmed
                                        Credit
R. N. A. Construction                   BG                 CRISIL A4      40      Assigned
Rachitech Engineering Pvt Ltd           BG                 CRISIL A4      20      Reaffirmed
Reliance Industries Ltd                 CP                 CRISIL A1+     300000  Reaffirmed
Reliance Industries Ltd                 CP^                CRISIL A1+     45000   Reaffirmed
^ Earlier Short term debt
Rex-Tone Industries Ltd                 Packing Credit     CRISIL A3+     170     Reaffirmed
Rojer Mathew and Company                BG                 CRISIL D       70      Downgraded
                                                                                  from CRISIL A4
(Issuer Not Cooperating)
Saumil Impex Pvt Ltd                    Foreign Exchange   CRISIL A4      7.5     Reaffirmed
                                        Forward
Saumil Impex Pvt Ltd                    LOC                CRISIL A4      345.6   Reaffirmed
Shreeji Pesticides Pvt Ltd              LOC                CRISIL A4+     70      Migrated
                                                                                  from CRISIL A2
(Issuer Not Cooperating)
Sri Rama Educational Trust              BG                 CRISIL A4      10      Assigned
Sripathy Assoceates                     BG                 CRISIL A4+     500     Reaffirmed
Sterling Tapes Ltd                      LOC                CRISIL A4+     70      Reaffirmed
The Cots Knits                          Packing Credit     CRISIL A4      35      Reaffirmed
The Shalimar Works (1980) Ltd           BG                 CRISIL A4      254.5   Reaffirmed
The Shalimar Works (1980) Ltd           LOC                CRISIL A4      10      Reaffirmed
Tirupati Vinyl India Pvt Ltd            Channel Financing  CRISIL A4+     30      Reaffirmed
Ukay Metal Industries Pvt Ltd           LOC                CRISIL A3+     2.5     Upgraded from
                                                                                  CRISIL A3
Universal Precision Screws              Export Packing     CRISIL A3+     195     Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Universal Precision Screws              Foreign Exchange   CRISIL A3+     3       Reaffirmed
                                        Forward
Universal Precision Screws              LOC                CRISIL A3+     70      Reaffirmed
Ultimo Fabrics Pvt Ltd                  LOC                CRISIL D       100     Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Vijayasree Foods                        BG                 CRISIL A4      20      Reaffirmed
Willowood Chemicals Pvt Ltd             Bill Discounting   CRISIL A4+     20      Migrated from
                                                                                  CRISIL A2
(Issuer Not Cooperating)
Willowood Chemicals Pvt Ltd             Buyer`s Credit     CRISIL A4+     400     Migrated from
                                                                                  CRISIL A2
(Issuer Not Cooperating)
Willowood Chemicals Pvt Ltd             LOC                CRISIL A4+     380     Migrated from
                                                                                  CRISIL A2
(Issuer Not Cooperating)

LONG TERM RATINGS:
-------------------
A.T.E. Enterprises Pvt Ltd              Bill Discounting   CRISIL BBB-    65      Reaffirmed
A.T.E. Enterprises Pvt Ltd              CC                 CRISIL BBB-    100     Reaffirmed
A.T.E. Enterprises Pvt Ltd              LT Loan            CRISIL BBB-    25      Reaffirmed
A.T.E. Enterprises Pvt Ltd              Proposed LT Bk     CRISIL BBB-    30      Reaffirmed
                                        Loan Fac
Agsar Paints Pvt Ltd                    CC                 CRISIL BB-     100     Downgraded
                                                                                  from CRISIL BB
Agsar Paints Pvt Ltd                    LT Loan            CRISIL BB-     19.4    Downgraded
                                                                                  from CRISIL BB
Agsar Paints Pvt Ltd                    Proposed LT Bk     CRISIL BB-     0.6     Downgraded
                                        Loan Fac                                  from CRISIL BB
Agsons Agencies India Pvt Ltd           LOC                CRISIL BB-     150     Reaffirmed
Akshat Apartments Pvt Ltd               Drop Line          CRISIL BB+     78.7    Reaffirmed
                                        Overdraft Fac                             and Withdrawn
Akshat Apartments Pvt Ltd               TL                 CRISIL BB+     150     Reaffirmed
                                                                                  and Withdrawn
Allahabad Bank                          Upper Tier II      CRISIL A+      10000   #
                                        Bonds (Under Basel                        
                                        II)                                       
Allahabad Bank                          Tier I Perpetual   CRISIL A+      3000    #
                                        Bonds (Under Basel                        
                                        II)                                       
Allahabad Bank                          Tier II Bonds      CRISIL AA-     5000    #
                                        (Under Basel III)                         
Allahabad Bank                          Tier II Bonds      CRISIL AA-     10000   #
                                        (Under Basel III)                         
Allahabad Bank                          Lower Tier II      CRISIL AA-     8500    #
                                        Bonds (Under Basel                        
                                        II)                                       
Ankapalli Tollway Pvt Ltd               Proposed TL        Provisional    13000   Assigned^
                                                           CRISIL AA-(SO)
^A prefix of Provisional indicates that the rating centrally factors in the strength of specific
structures, and will be supported by certain critical documentation by the issuer, without which
the rating would either have been different or not assigned ab initio. This is in compliance
with a May 6, 2015, directive by the Securities and Exchange Board of India (SEBI),
Standardising the term, rating symbol, and manner of disclosure with regard to conditional/
provisional/ in-principle ratings assigned by credit rating agencies (CRAs)
Armor Plast Ltd                         Bill Discounting   CRISIL BB      4       Reaffirmed
Armor Plast Ltd                         CC                 CRISIL BB      18.5    Reaffirmed
Armor Plast Ltd                         Proposed LT Bk     CRISIL BB      37.5    Reaffirmed
                                        Loan Fac
Armor Plast Ltd                         TL                 CRISIL BB      15      Reaffirmed
Asirvad Microfinance Ltd                Proposed LT Bk     CRISIL A+      10082   Reaffirmed
                                        Loan Fac
Asirvad Microfinance Ltd                TL                 CRISIL A+      9918    Reaffirmed
Asirvad Microfinance Ltd                NCDs               CRISIL A+      3000    Assigned
Asirvad Microfinance Ltd                NCDs               CRISIL A+      2500    Reaffirmed
Asirvad Microfinance Ltd                NCDs               CRISIL A+      2000    Reaffirmed
Asirvad Microfinance Ltd                NCDs               CRISIL A+      1000    Reaffirmed
Asirvad Microfinance Ltd                NCDs               CRISIL A+      1250    Reaffirmed
Asirvad Microfinance Ltd                NCDs               CRISIL A+      2000    Reaffirmed
Asirvad Microfinance Ltd                NCDs               CRISIL A+      2000    Reaffirmed
Asirvad Microfinance Ltd                Subordinated Debt  CRISIL A+      1250    Reaffirmed
Asvini Fisheries Pvt Ltd                BG                 CRISIL A-      90      Reaffirmed
Bamanbore Tollway Pvt Ltd               Proposed TL        Provisional    3217    Assigned^
                                                           CRISIL AA-(SO)
^A prefix of Provisional indicates that the rating centrally factors in the strength of specific
structures, and will be supported by certain critical documentation by the issuer, without which
the rating would either have been different or not assigned ab initio. This is in compliance
with a May 6, 2015, directive by the Securities and Exchange Board of India (SEBI),
Standardising the term, rating symbol, and manner of disclosure with regard to
conditional/provisional/in-principle ratings assigned by credit rating agencies (CRAs)  
Bang Data Forms Pvt Ltd                 CC                 CRISIL BBB+    200     Reaffirmed
Bang Data Forms Pvt Ltd                 Proposed LT Bk     CRISIL BBB+    60      Reaffirmed
                                        Loan Fac
Bayir Extracts Pvt Ltd                  CC                 CRISIL BB+     35      Migrated
                                                                                  from CRISIL
                                                                                  BBB-
(Issuer Not Cooperating)
Beloorbayir Biotech Ltd                 CC                 CRISIL BB+     260     Migrated
                                                                                  from CRISIL
                                                                                  BBB-
(Issuer Not Cooperating)
Beloorbayir Biotech Ltd                 TL                 CRISIL BB+     70      Migrated
                                                                                  from CRISIL
                                                                                  BBB-
(Issuer Not Cooperating)
Bihani Enterprises                      CC                 CRISIL BB      110     Reaffirmed
Bihani Enterprises                      Proposed TL        CRISIL BB      5       Reaffirmed
Bihani Enterprises                      TL                 CRISIL BB      10      Reaffirmed
Bihani International Pvt Ltd            CC                 CRISIL BB      60      Reaffirmed
Bihani International Pvt Ltd            Channel Financing  CRISIL BB      36      Reaffirmed
Bihani International Pvt Ltd            TL                 CRISIL BB      16.5    Reaffirmed
Bindeshwari Cold Chain Pvt Ltd          TL                 CRISIL B       40      Assigned
CTM Technical Textiles Ltd              CC                 CRISIL BB      50      Reaffirmed
CTM Technical Textiles Ltd              LT Loan            CRISIL BB      21.6    Reaffirmed
CTM Technical Textiles Ltd              Proposed LT Bk     CRISIL BB      16.1    Reaffirmed
                                        Loan Fac
Diwancheruvu Tollway Pvt Ltd            Proposed TL        Provisional    9000    Assigned^
                                                           CRISIL AA-(SO)
^A prefix of Provisional indicates that the rating centrally factors in the strength of specific
structures, and will be supported by certain critical documentation by the issuer, without which
the rating would either have been different or not assigned ab initio. This is in compliance
with a May 6, 2015, directive by the Securities and Exchange Board of India (SEBI),
Standardising the term, rating symbol, and manner of disclosure with regard to
conditional/provisional/in-principle ratings assigned by credit rating agencies (CRAs) 
Diwantham Tollway Pvt Ltd               Proposed TL        Provisional    4000    Assigned^
                                                           CRISIL AA-(SO)
^A prefix of Provisional indicates that the rating centrally factors in the strength of specific
structures, and will be supported by certain critical documentation by the issuer, without which
the rating would either have been different or not assigned ab initio. This is in compliance
with a May 6, 2015, directive by the Securities and Exchange Board of India (SEBI),
Standardising the term, rating symbol, and manner of disclosure with regard to
conditional/provisional/in-principle ratings assigned by credit rating agencies (CRAs) 
Flagmark Builders Pvt Ltd               TL                 CRISIL D       100     Downgraded
                                                                                  from CRISIL B+
Galaxy Machinery Pvt Ltd                CC                 CRISIL B       70      Reaffirmed
Galaxy Machinery Pvt Ltd                LT Loan            CRISIL B       17      Reaffirmed
Galaxy Machinery Pvt Ltd                Proposed WC Fac    CRISIL B       73      Reaffirmed
Garamore Tollway Pvt Ltd                Proposed TL        Provisional    8600    Assigned^
                                                           CRISIL AA-(SO)
^A prefix of Provisional indicates that the rating centrally factors in the strength of specific
structures, and will be supported by certain critical documentation by the issuer, without which
the rating would either have been different or not assigned ab initio. This is in compliance
with a May 6, 2015, directive by the Securities and Exchange Board of India (SEBI),
Standardising the term, rating symbol, and manner of disclosure with regard to
conditional/provisional/in-principle ratings assigned by credit rating agencies (CRAs)
Gopal Cotton Industries                 CC                 CRISIL BB-     70      Reaffirmed
Icchapuram Tollway Pvt Ltd              Proposed TL        Provisional    5216    Assigned^
                                                           CRISIL AA-(SO)
^A prefix of Provisional indicates that the rating centrally factors in the strength of specific
structures, and will be supported by certain critical documentation by the issuer, without which
the rating would either have been different or not assigned ab initio. This is in compliance
with a May 6, 2015, directive by the Securities and Exchange Board of India (SEBI),
Standardising the term, rating symbol, and manner of disclosure with regard to
conditional/provisional/in-principle ratings assigned by credit rating agencies (CRAs)  
Indkus Biotech India                    CC                 CRISIL BB-     72.5    Assigned
Indkus Biotech India                    TL                 CRISIL BB-     2.5     Assigned
Jai Industries                          CC                 CRISIL BBB-    60      Reaffirmed
Jai Industries                          Proposed LT Bk     CRISIL BBB-    40      Reaffirmed
                                        Loan Fac
Jalan Jee Polytex Ltd                   CC                 CRISIL C       90      Downgraded
                                                                                  from CRISIL B-
Kalpataru Power Transmission Ltd        CC#                CRISIL AA      7750
#Rs 12.5 crores is interchangeable between fund-based and non-fund-based limits
Kalpataru Power Transmission Ltd        LOC & BG^          CRISIL AA      8600
^Interchangeable with fund-based limits; however, overall fund-based limits will not exceed
Rs.1000 crore
Kalpataru Power Transmission Ltd        Proposed LOC & BG^ CRISIL AA      4500
^Interchangeable with fund-based limits; however, overall fund-based limits will not exceed
Rs.1000 crore  
Kalpataru Power Transmission Ltd        NCD                CRISIL         2000
                                                           AA
Kalpataru Power Transmission Ltd        NCD                CRISIL         2000
                                                           AA
Kalpataru Power Transmission Ltd        NCD                CRISIL         2000
                                                           AA
Kanodia Global Pvt Ltd                  TL                 CRISIL BBB-    140     Assigned
Kanodia Global Pvt Ltd                  CC                 CRISIL BBB-    9       Assigned
Kanodia Global Pvt Ltd                  Foreign Bill       CRISIL BBB-    20      Assigned
                                        Discounting
Lakshmi Engineering and Drilling        CC                 CRISIL BB      100     Upgraded from
                                                                                  CRISIL BB-
Lunia Marketing Pvt Ltd                 CC                 CRISIL BBB     97.5    Upgraded from
                                                                                  CRISIL BBB-
Lunia Marketing Pvt Ltd                 Proposed CC Limit  CRISIL BBB     27.5    Upgraded from
                                                                                  CRISIL BBB-
Mahadev Motors Pvt Ltd                  Channel Financing  CRISIL B+      40.5    Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Mahadev Motors Pvt Ltd                  Drop Line          CRISIL B+      27      Downgraded
                                        Overdraft Fac                             from CRISIL
                                                                                  BB-
Mahadev Motors Pvt Ltd                  Inventory Funding  CRISIL B+      110     Downgraded
                                        Fac                                       from CRISIL
                                                                                  BB-
Mahadev Motors Pvt Ltd                  TL                 CRISIL B+      12.5    Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Manappuram Home Finance Pvt Ltd         TL                 CRISIL A+      1750    Reaffirmed
Manappuram Home Finance Pvt Ltd         WC Loan            CRISIL A+      250     Reaffirmed
Maruti Motors-Faridabad                 CC                 CRISIL BB-     5       Reaffirmed
Mittapalli Agro Enterprises             CC                 CRISIL BB-     30      Migrated from
                                                                                  CRISIL BB-
(Issuer Not Cooperating)
Mittapalli Agro Enterprises             Proposed LT Bk     CRISIL BB-     30      Migrated from
                                        Loan Fac                                  CRISIL BB-
(Issuer Not Cooperating)
Mittapalli Agro Exports                 CC                 CRISIL BB-     40      Migrated from
                                                                                  CRISIL BB-
(Issuer Not Cooperating)
Mittapalli Agro Exports                 Proposed LT Bk     CRISIL BB-     20      Migrated from
                                        Loan Fac                                  CRISIL BB-
(Issuer Not Cooperating)
Mittapalli Agro Products Pvt Ltd        Export Packing     CRISIL BB-     390     Migrated from
                                        Credit                                    CRISIL BB-
(Issuer Not Cooperating)
N. K. Bhojani Pvt Ltd                   CC                 CRISIL B+      195     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
N. K. Bhojani Pvt Ltd                   Proposed LT Bk     CRISIL B+      48.9    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
N. K. Bhojani Pvt Ltd                   TL                 CRISIL B+      178.6   Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Oneworld Creations Pvt Ltd              CC                 CRISIL D       450     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Oneworld Creations Pvt Ltd              Proposed CC Limit  CRISIL D       90      Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Oneworld Creations Pvt Ltd              Proposed LT Bk     CRISIL D       350     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB
Oneworld Creations Pvt Ltd              TL                 CRISIL D       160     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Oneworld Industries Pvt Ltd             CC                 CRISIL D       1400    Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Oneworld Retail Pvt Ltd                 CC                 CRISIL D       285     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Oneworld Retail Pvt Ltd                 Proposed LT Bk     CRISIL D       150     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
Oneworld Retail Pvt Ltd                 TL                 CRISIL D       87.5    Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Oneworld Sourcing                       CC                 CRISIL D       660     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Oneworld Sourcing                       TL                 CRISIL D       120     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
P N Shanavas                            CC/ Overdraft Fac  CRISIL BB-     88.8    Reaffirmed
Piaggio Vehicles Pvt Ltd                CC                 CRISIL A       60
Piaggio Vehicles Pvt Ltd                Overdraft          CRISIL A       250
Piaggio Vehicles Pvt Ltd                Proposed FB Bk     CRISIL A       444.6
                                        Limits
Porbandar Jetpur Tollway Pvt Ltd        Proposed TL        Provisional    300     Assigned^
                                                           CRISIL AA-(SO)
^A prefix of Provisional indicates that the rating centrally factors in the strength of specific
structures, and will be supported by certain critical documentation by the issuer, without which
the rating would either have been different or not assigned ab initio. This is in compliance
with a May 6, 2015, directive by the Securities and Exchange Board of India (SEBI),
Standardising the term, rating symbol, and manner of disclosure with regard to conditional/
provisional/ in-principle ratings assigned by credit rating agencies (CRAs)
Pratipa Cashews                         Export Packing     CRISIL BB      50      Reaffirmed
                                        Credit
Pratipa Cashews                         TL                 CRISIL BB      7.2     Reaffirmed
Puintola Tollway Pvt Ltd                Proposed TL        Provisional    3967    Assigned^
                                                           CRISIL AA-(SO)
^A prefix of Provisional indicates that the rating centrally factors in the strength of specific
structures, and will be supported by certain critical documentation by the issuer, without which
the rating would either have been different or not assigned ab initio. This is in compliance
with a May 6, 2015, directive by the Securities and Exchange Board of India (SEBI),
Standardising the term, rating symbol, and manner of disclosure with regard to
conditional/provisional/in-principle ratings assigned by credit rating agencies (CRAs)
R. N. A. Construction                   CC                 CRISIL B+      35      Assigned
Rachitech Engineering Pvt Ltd           CC                 CRISIL B+      55      Reaffirmed
Radheshyam Industries                   CC                 CRISIL B+      120     Reaffirmed
Reliance Industries Ltd                 FB Fac*            CRISIL AAA     499650  Reaffirmed
* Fully interchangeable between bank guarantee, letter of credit, export packing credit, and
post-shipment credit 
Reliance Industries Ltd                 Proposed LT Bk     CRISIL AAA     150000  Reaffirmed
                                        Loan Fac
Reliance Industries Ltd                 Rupee TL           CRISIL AAA     350     Reaffirmed
Reliance Industries Ltd                 NCDs               CRISIL AAA     100000  Reaffirmed
Reliance Industries Ltd                 NCDs               CRISIL AAA     100000  Reaffirmed
Reliance Industries Ltd                 NCDs               CRISIL AAA     10080   Reaffirmed
Rex-Tone Industries Ltd                 CC                 CRISIL BBB     160     Reaffirmed
Rex-Tone Industries Ltd                 Pre Shipment       CRISIL BBB     10      Reaffirmed
                                        Finance
Rojer Mathew and Company                CC                 CRISIL D       120     Downgraded
                                                                                  from CRISIL B-
(Issuer Not Cooperating)
S. L. Banthia Fabrics Pvt Ltd           CC                 CRISIL BBB-    25      Assigned
S. L. Banthia Fabrics Pvt Ltd           TL                 CRISIL BBB-    61.5    Assigned
Saumil Impex Pvt Ltd                    CC                 CRISIL B       42.5    Reaffirmed
Saumil Impex Pvt Ltd                    Funded Interest TL CRISIL B       15.4    Reaffirmed
Saumil Impex Pvt Ltd                    WC TL              CRISIL B       177.6   Reaffirmed
Saumil Impex Pvt Ltd                    Proposed LT Bk     CRISIL B       106.4   Reaffirmed
                                        Loan Fac
Shreeji Pesticides Pvt Ltd              CC                 CRISIL BB+     60      Migrated
                                                                                  from CRISIL
                                                                                  BBB+
(Issuer Not Cooperating)
Shreeji Pesticides Pvt Ltd              Proposed LT Bk     CRISIL BB+     15      Migrated from
                                        Loan Fac                                  CRISIL BBB+
(Issuer Not Cooperating)
Shreeji Pesticides Pvt Ltd              TL                 CRISIL BB+     105     Migrated from
                                                                                  CRISIL BBB+
(Issuer Not Cooperating)
Siddhantham Tollway Pvt Ltd             Proposed TL        Provisional    2700    Assigned^
                                                           CRISIL AA-(SO)
^A prefix of Provisional indicates that the rating centrally factors in the strength of specific
structures, and will be supported by certain critical documentation by the issuer, without which
the rating would either have been different or not assigned ab initio. This is in compliance
with a May 6, 2015, directive by the Securities and Exchange Board of India (SEBI),
Standardising the term, rating symbol, and manner of disclosure with regard to
conditional/provisional/in-principle ratings assigned by credit rating agencies (CRAs)  
Sri Lakshmi Venkata Ramana Raw & Boiled CC                 CRISIL         120     Reaffirmed
Rice Mill                                                  B+
Sri Rama Educational Trust              Proposed FB Bk     CRISIL B+      27.7    Assigned
                                        Limits
Sri Rama Educational Trust              LT Loan            CRISIL B+      332.3   Assigned
Sri Rama Educational Trust              CC                 CRISIL B+      50      Assigned
Sripathy Assoceates                     CC                 CRISIL BB      250     Upgraded from
                                                                                  CRISIL BB-
Sterling Tapes Ltd                      CC                 CRISIL BB-     65      Reaffirmed
Sterling Tapes Ltd                      Proposed LT Bk     CRISIL BB-     1.5     Reaffirmed
                                        Loan Fac
Sterling Tapes Ltd                      TL                 CRISIL BB-     20      Reaffirmed
The Cots Knits                          Bill Discounting   CRISIL B+      5       Reaffirmed
The Cots Knits                          CC                 CRISIL B+      7.5     Reaffirmed
The Cots Knits                          Proposed LT Bk     CRISIL B+      58.4    Reaffirmed
                                        Loan Fac
The Shalimar Works (1980) Ltd           CC/ Overdraft Fac  CRISIL C       60      Reaffirmed
The Shalimar Works (1980) Ltd           Proposed LT Bk     CRISIL C       225.5   Reaffirmed
                                        Loan Fac
Tirupati Vinyl India Pvt Ltd            CC                 CRISIL BB-     60      Reaffirmed
Tirupati Vinyl India Pvt Ltd            Channel Financing  CRISIL BB-     10      Reaffirmed
Ukay Metal Industries Pvt Ltd           CC                 CRISIL BBB     173     Upgraded from
                                                                                  CRISIL BBB-
Ukay Metal Industries Pvt Ltd           Rupee TL           CRISIL BBB     110     Upgraded from
                                                                                  CRISIL BBB-
Ultimo Fabrics Pvt Ltd                  CC                 CRISIL D       350     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Ultimo Fabrics Pvt Ltd                  Proposed CC Limit  CRISIL D       248.8   Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Ultimo Fabrics Pvt Ltd                  TL                 CRISIL D       91.2    Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Ultra Ready Mix Concrete Pvt Ltd        CC                 CRISIL D       250     Downgraded
                                                                                  from CRISIL B+
Ultra Ready Mix Concrete Pvt Ltd        LT Loan            CRISIL D       196.8   Downgraded
                                                                                  from CRISIL B+
Universal Precision Screws              Proposed LT Bk     CRISIL BBB     15      Reaffirmed
                                        Loan Fac
Universal Precision Screws              TL                 CRISIL BBB     17      Reaffirmed
Vatika Tracom Pvt Ltd                   CC                 CRISIL BB      95      Reaffirmed
Vijayasree Foods                        CC                 CRISIL B+      60      Reaffirmed
Willowood Chemicals Pvt Ltd             CC                 CRISIL BB+     100     Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Willowood Crop Sciences Pvt Ltd         CC                 CRISIL BB+     400     Migrated from
                                                                                  CRISIL BBB+
(Issuer Not Cooperating)
Worldstar Fabrics LLP                   CC                 CRISIL D       250     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Zephyr Fabric Trading LLP               CC                 CRISIL D       180     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
--------------------------------------------------------------------------------------------
$: 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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