May 25, 2018 / 7:13 AM / a month ago

CRISIL ratings for Indian debt instruments-May 25

    May 25 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 24, 2018.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Alectra Construction Ltd                BG                 CRISIL A4+     174     Migrated
                                                                                  from CRISIL
                                                                                  A3 
(Issuer Not Cooperating)
Amar Cars Pvt Ltd                       BG                 CRISIL A2      15      Assigned
B.B. Styro Extrusion Pvt Ltd            BG                 CRISIL A4      6.7     Reaffirmed
B.B. Styro Extrusion Pvt Ltd            Inland/Import LOC  CRISIL A4      40      Reaffirmed
CMR Nikkei India Pvt Ltd                BG                 CRISIL A2+     20      -         
CMR Nikkei India Pvt Ltd                LOC                CRISIL A2+     80      -
Cotton Emporium                         Bill Discounting   CRISIL A4+     80      Assigned
(Issuer Not Cooperating)
Crystal Crop Protection Ltd             LOC                CRISIL A1      2830    CRISIL A1
Crystal Crop Protection Ltd             Proposed LOC       CRISIL A1      736     CRISIL A1
Deccan Sales and Service Pvt Ltd        BG                 CRISIL A4+     45      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Endurance Technologies Ltd              LOC & BG@          CRISIL A1+     2450    Reaffirmed
@ Interchangeable with other non-fund based facilities up to Rs 245 Crore
Endurance Technologies Ltd              CP                 CRISIL A1+     800     Reaffirmed
Fancy Fittings Ltd                      BG                 CRISIL A3      6       Reaffirmed
Fancy Fittings Ltd                      LOC                CRISIL A3      120     Reaffirmed
Fresco Plus Ceramic Pvt Ltd             BG                 CRISIL A4      5       Rating
                                                                                  Migrated
(Issuer Not Cooperating)
G N Construction - Ambikapur            BG                 CRISIL A4+     7       Reaffirmed
H. P. Madhukar                          BG                 CRISIL A4+     77.5    Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Hi-Tech Sweet Water Technologies Pvt LtdBG                 CRISIL A4+     200     Withdrawn
Hi-Tech Sweet Water Technologies Pvt LtdLOC                CRISIL A4+     100     Withdrawn
JKG Infratech Pvt Ltd                   BG                 CRISIL A4+     100     Assigned
Kinam Engineering Industries            Proposed ST Bk     CRISIL A4+     30      Assigned
                                        Loan Fac
Kinam Engineering Industries            BG                 CRISIL A4+     40      Assigned
Kinam Engineering Industries            LOC                CRISIL A4+     5       Assigned
Kopran Ltd                              BG                 CRISIL A3+     7.5     Reaffirmed
Kopran Ltd                              LOC                CRISIL A3+     150     Reaffirmed
Kopran Ltd                              Loan Equivalent    CRISIL A3+     52.5    Reaffirmed
                                        Risk Limits
Kumar Spintex Pvt Ltd                   BG                 CRISIL A4+     15      Withdrawn
La Renon Healthcare Pvt Ltd             Sales Bill         CRISIL A2      200     Reaffirmed
                                        Discounting
La Renon Healthcare Pvt Ltd             ST Bk Fac          CRISIL A2      200     Reaffirmed
Megaa Moda Pvt Ltd                      BG                 CRISIL A4+     6       Reaffirmed
Megaa Moda Pvt Ltd                      Export Packing     CRISIL A4+     250     Reaffirmed
                                        Credit
Megaa Moda Pvt Ltd                      Post Shipment      CRISIL A4+     307.5   Reaffirmed
                                        Credit
Megaa Moda Pvt Ltd                      Standby LOC        CRISIL A4+     3.5     Reaffirmed
Miku Traders                            BG                 CRISIL A4+     232.5   Withdrawn
(Issuer Not Cooperating)
MKU Ltd                                 BG                 CRISIL A4+     500     -
(Issuer Not Cooperating)
MKU Ltd                                 Buyer`s Credit     CRISIL A4+     220     -
(Issuer Not Cooperating)
MKU Ltd                                 Packing Credit     CRISIL A4+     240     -
(Issuer Not Cooperating)
Nand Hospitality Pvt Ltd                BG                 CRISIL A4      6       Rating
                                                                                  Migrated
(Issuer Not Cooperating)
New Era Industries                      BG                 CRISIL A4+     60      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
New Era Industries                      Import LOC Limit   CRISIL A4+     40      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Rama Krishna Buildwell Pvt Ltd          BG                 CRISIL A4+     70      Assigned
Ramniklal S. Gosalia and Co.            Letter Of GuaranteeCRISIL A2+     100     Upgraded from
                                                                                  CRISIL A2
Ramniklal S. Gosalia and Co.            LOC                CRISIL A2+     500     Upgraded from
                                                                                  CRISIL A2
Rateria Laminators Pvt Ltd              BG                 CRISIL A4+     50      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Rateria Laminators Pvt Ltd              Bill Discounting   CRISIL A4+     24      Rating
                                        under LOC                                 Migrated
(Issuer Not Cooperating)
Raudra Technocrats Pvt Ltd              BG                 CRISIL A4+     50      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Raudra Technocrats Pvt Ltd              Proposed ST Bk     CRISIL A4+     10      Rating
                                        Loan Fac                                  Migrated
(Issuer Not Cooperating)

Saatvik Ferro Ltd                       LOC                CRISIL A4+     95      Assigned
Solace Engineers (Mktg.) Pvt Ltd        BG                 CRISIL A4      5       Withdrawn
(Migrated from CRISIL A4)(Issuer Not Cooperating)
SSK Exports Ltd                         Packing Credit     CRISIL A4+     520     Assigned
Suspension Revoked
Subir Engineering Works Pvt Ltd         Proposed ST Bk     CRISIL A3      50.5    Assigned
                                        Loan Fac
Subir Engineering Works Pvt Ltd         BG                 CRISIL A3      98      Assigned
Success Engineers                       BG                 CRISIL A4+     40      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Sundaram Industries                     Overdraft          CRISIL A4+     25      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Tata Projects Ltd                        CP                CRISIL A1+     120000  Reaffirmed
                                        (Enhanced from Rs.800 Crore)#
Tessolve Semiconductor Pvt Ltd          BG                 CRISIL A3+     15      Assigned
Tessolve Semiconductor Pvt Ltd          Foreign Exchange   CRISIL A3+     106.6   Assigned
                                        Forward
Veda Engineering Pvt Ltd                BG                 CRISIL A4      4.1     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Winsun Ceramic Pvt Ltd                  BG                 CRISIL A4+     16      Upgraded from
                                                                                  CRISIL A4

LONG TERM RATINGS:
-------------------
Aark India Educational Trust            Overdraft          CRISIL B       55      Withdrawn
(Issuer Not Cooperating)
ACE Autocars Pvt Ltd                    Electronic Dealer  CRISIL B-      80      Rating
                                        Financing                                 Migrated
                                        Scheme(e-DFS)
(Issuer Not Cooperating)
ACE Autocars Pvt Ltd                    Proposed FB Bk     CRISIL B-      20      Rating
                                        Limits                                    Migrated
(Issuer Not Cooperating)
Alectra Construction Ltd                CC                 CRISIL BB+     40      Migrated
                                                                                  from CRISIL
                                                                                  BBB-
(Issuer Not Cooperating)
Alectra Construction Ltd                Standby Line of    CRISIL BB+     6       Migrated
                                        Credit                                    from CRISIL
                                                                                  BBB-
(Issuer Not Cooperating)
All India Society For Electronics and   TL                 CRISIL BBB     150     Rating
Computer Technology                                                               Migrated
(Issuer Not Cooperating)
Amar Cars Pvt Ltd                       Proposed LT Bk     CRISIL BBB+    1.4     Reaffirmed
                                        Loan Fac
Amar Cars Pvt Ltd                       LT Loan            CRISIL BBB+    18.6    Reaffirmed
Amar Cars Pvt Ltd                       Electronic Dealer  CRISIL BBB+    205     Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Ambika Electronics                      Secured Overdraft  CRISIL BB-     220     Reaffirmed
                                        Fac
Andhra Pradesh State Financial          9.48% Bond Series  CRISIL BB+(SO) 2000    -
Corporation                             V/2012* 
(Continues on Rating Watch with Negative Implications ,* Amount outstanding as on March 31.
2017)
Andhra Pradesh State Financial          8.7% Bond Series   CRISIL BB+(SO) 285     -
Corporation                             II/2008*
(Continues on Rating Watch with Negative Implications ,* Amount outstanding as on March 31.
2017)
Andhra Pradesh State Financial          9.2% Bond Series   CRISIL BB+(SO) 400     -
Corporation                             III/2008*
(Continues on Rating Watch with Negative Implications ,* Amount outstanding as on March 31.
2017)
Andhra Pradesh State Financial          8.35% Bond Series  CRISIL BB+(SO) 726     -
Corporation                             IV/2009*
(Continues on Rating Watch with Negative Implications ,* Amount outstanding as on March 31.
2017)
Andhra Pradesh State Financial          Bonds Series VII & CRISIL BB+(SO) 2080    -
Corporation                             VIII/2014*
(Continues on Rating Watch with Negative Implications ,* Amount outstanding as on March 31.
2017)
Ashtech Buildpro India Pvt. Ltd.        CC                 CRISIL B       10      Withdrawal
Ashtech Buildpro India Pvt. Ltd.        Proposed LT Bk     CRISIL B       5.2     Withdrawal
                                        Loan Fac
Ashtech Buildpro India Pvt. Ltd.        TL                 CRISIL B       109.8   Withdrawal
B.B. Styro Extrusion Pvt Ltd            CC                 CRISIL B+      23.3    Reaffirmed
B.B. Styro Extrusion Pvt Ltd            TL                 CRISIL B+      30      Reaffirmed
Bhagyoday Cotton Industries             CC                 CRISIL BB-     220     Withdrawn
(Issuer Not Cooperating)
Bhagyodaya Rice Industries              CC                 CRISIL BB-     100     Migrated from
                                                                                  CRISIL BB-
CMR Nikkei India Pvt Ltd                Bill Discounting   CRISIL A-      106     CRISIL A-
CMR Nikkei India Pvt Ltd                CC                 CRISIL A-      300     CRISIL A-
CMR Nikkei India Pvt Ltd                TL                 CRISIL A-      131     CRISIL A-
CMR-Toyotsu Aluminium India Pvt Ltd     Bill Discounting   CRISIL BBB+    10      Reaffirmed
CMR-Toyotsu Aluminium India Pvt Ltd     CC                 CRISIL BBB+    370     Reaffirmed
CMR-Toyotsu Aluminium India Pvt Ltd     TL                 CRISIL BBB+    189.6   Reaffirmed
Crystal Crop Protection Ltd             CC                 CRISIL A       2800    CRISIL
                                                                                  A/Stable
Crystal Crop Protection Ltd             TL                 CRISIL A       134     CRISIL
                                                                                  A/Stable
Deccan Sales and Service Pvt Ltd        CC                 CRISIL BB      230     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Deccan Sales and Service Pvt Ltd        Proposed LT Bk     CRISIL BB      15      Rating
                                        Loan Fac                                  Migrated
(Issuer Not Cooperating)
Devanshi Powers Ltd                     CC                 CRISIL D       140     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Devanshi Powers Ltd                     Proposed LT Bk     CRISIL D       20      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Dhariwal Industries Pvt Ltd             CC                 CRISIL BB+     110     Reaffirmed
Dhariwal Industries Pvt Ltd             Proposed LT Bk     CRISIL BB+     111.5   Reaffirmed
                                        Loan Fac
Dhariwal Industries Pvt Ltd             Rupee TL           CRISIL BB+     145.3   Reaffirmed
Dhariwal Industries Pvt Ltd             Secured Overdraft  CRISIL BB+     60      Reaffirmed
                                        Fac
Endurance Technologies Ltd              Bill Discounting^  CRISIL AA      800     Reaffirmed
(Outlook revised from Stable,^ Interchangeable with other non-fund based facilities up to Rs 50
Crore)
Endurance Technologies Ltd              CC**               CRISIL AA      4774.9  Reaffirmed
(Outlook revised from Stable,**Interchangeable with non-fund based limits and interchangeable
with other fund based facilities)
Endurance Technologies Ltd              LT Loan            CRISIL AA      155.4   Reaffirmed
Outlook revised from Stable
Endurance Technologies Ltd              CC*                CRISIL AA      1300    Reaffirmed
(Outlook revised from Stable,* Interchangeable with non-fund based limits and other fund based
facilities)
Epygen Biotech Pvt Ltd                  TL                 CRISIL B+      250     Upgraded from
                                                                                  CRISIL B
ETA Engineering Pvt Ltd                 CC                 CRISIL D       950     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
ETA Engineering Pvt Ltd                 LOC & BG           CRISIL D       4412.5  Rating
                                                                                  Migrated
(Issuer Not Cooperating)
ETA Engineering Pvt Ltd                 Proposed ST Bk     CRISIL D       974     Rating
                                        Loan Fac                                  Migrated
(Issuer Not Cooperating)
Fancy Fittings Ltd                      CC                 CRISIL BBB-    210     Reaffirmed
Fancy Fittings Ltd                      Corporate Loan     CRISIL BBB-    16.7    Reaffirmed
Fancy Fittings Ltd                      TL                 CRISIL BBB-    90.4    Reaffirmed
Fresco Plus Ceramic Pvt Ltd             CC                 CRISIL B       22.5    Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Fresco Plus Ceramic Pvt Ltd             Proposed TL        CRISIL B       37.5    Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Fresco Plus Ceramic Pvt Ltd             TL                 CRISIL B       60      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
G N Construction - Ambikapur            CC                 CRISIL BB      120     Reaffirmed
G N Construction - Ambikapur            Proposed LT Bk     CRISIL BB      3       Reaffirmed
                                        Loan Fac
Ganesh Agencies                         CC                 CRISIL BB-     65      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Garvit Hospitality & Infracon Pvt Ltd   CC                 CRISIL B-      17.5    Reaffirmed
Garvit Hospitality & Infracon Pvt Ltd   TL                 CRISIL B-      132.5   Reaffirmed
Global Mercantile Pvt Ltd               LT Loan            CRISIL B-      150     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Gupta Trading Company                   CC                 CRISIL B+      85      Withdrawal
(Issuer Not Cooperating)
Gupta Trading Company                   Proposed CC Limit  CRISIL B+      55      Withdrawal
(Issuer Not Cooperating)
H. P. Madhukar                          Overdraft          CRISIL BB      100     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Hector Enterprises Pvt Ltd              Proposed LT Bk     CRISIL B-      225     Downgraded
                                        Loan Fac                                  from CRISIL B
Hector Enterprises Pvt Ltd              TL                 CRISIL B-      25      Downgraded
                                                                                  from CRISIL B
Hi-Tech Sweet Water Technologies Pvt LtdCC                 CRISIL BB      700     Withdrawn
Hi-Tech Sweet Water Technologies Pvt LtdTL                 CRISIL BB      1.4     Withdrawn
Indian Sales Corporation - Raipur       CC                 CRISIL BB-     50      Reaffirmed
Indian Sales Corporation - Raipur       CC/ Overdraft Fac  CRISIL BB-     1.5     Reaffirmed
Indian Sales Corporation - Raipur       Channel Financing  CRISIL BB-     30      Reaffirmed
Indian Sales Corporation - Raipur       Proposed LT Bk     CRISIL BB-     17.5    Reaffirmed
                                        Loan Fac
Innovation House Industries Pvt Ltd     CC                 CRISIL B-      15      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Innovation House Industries Pvt Ltd     TL                 CRISIL B-      135     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Ishwarcharan Builders Pvt Ltd           Proposed LT Bk     CRISIL B-      300     Withdrawn
                                        Loan Fac
(Issuer Not Cooperating)
Jaika Motors Pvt Ltd                    CC                 CRISIL BB      350     Reaffirmed
JKG Infratech Pvt Ltd                   Proposed FB Bk     CRISIL BB      20      Assigned
                                        Limits
JKG Infratech Pvt Ltd                   CC                 CRISIL BB      80      Assigned
Jupax Vanijya Pvt Ltd                   CC                 CRISIL BB      70      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Karuppaswamy Builders Pvt Ltd           TL                 CRISIL B+      50      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Keva Fragrances Pvt Ltd                 Proposed LT Bk     CRISIL AA-     80      Upgraded from
                                        Loan Fac                                  CRISIL A+
Keva Fragrances Pvt Ltd                 WC Demand Loan*    CRISIL AA-     120     Upgraded from
                                                                                  CRISIL A+
Kinam Engineering Industries            Secured Overdraft  CRISIL BB      15      Assigned
                                        Fac
Kinam Engineering Industries            Proposed LT Bk     CRISIL BB      10      Assigned
                                        Loan Fac
Kopran Ltd                              CC                 CRISIL BBB     150     Reaffirmed
Kopran Ltd                              Proposed LT Bk     CRISIL BBB     625     Reaffirmed
                                        Loan Fac
Kumar Spintex Pvt Ltd                   CC                 CRISIL BB-     60      Withdrawn
Kumar Spintex Pvt Ltd                   Proposed TL        CRISIL BB-     8.8     Withdrawn
Kumar Spintex Pvt Ltd                   TL                 CRISIL BB-     136.2   Withdrawn
L. V. Dairys - Patas                    CC                 CRISIL BB      120     Reaffirmed
L. V. Dairys - Patas                    TL                 CRISIL BB      54      Reaffirmed
La Renon Healthcare Pvt Ltd             CC                 CRISIL BBB+    150     Reaffirmed
Megaa Moda Pvt Ltd                      TL                 CRISIL BB      180     Upgraded from
                                                                                  CRISIL BB-
Miku Traders                            CC                 CRISIL BB      745     Withdrawn
(Issuer Not Cooperating)
Miku Traders                            Proposed LT Bk     CRISIL BB      2.5     Withdrawn
                                        Loan Fac
(Issuer Not Cooperating)
MKU Ltd                                 CC                 CRISIL BB+     350     -
(Issuer Not Cooperating),Continues on Rating Watch with Negative Implications* 
MKU Ltd                                 Standby LOC        CRISIL BB+     120     -
(Issuer Not Cooperating),Continues on Rating Watch with Negative Implications* 
MKU Ltd                                 TL                 CRISIL BB+     254.5   -
(Issuer Not Cooperating),Continues on Rating Watch with Negative Implications* 
Mudhai Dairy Pvt Ltd                    LT Loan            CRISIL D       37.5    Rating
                                                                                  Migrated
(Issuer Not Cooperating)
N.S.K. Builders Pvt Ltd                 BG                 CRISIL D       270     Reaffirmed
N.S.K. Builders Pvt Ltd                 CC                 CRISIL D       150     Reaffirmed
N.S.K. Builders Pvt Ltd                 Open CC            CRISIL D       80      Reaffirmed
Nand Hospitality Pvt Ltd                CC                 CRISIL B+      3.2     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Nand Hospitality Pvt Ltd                Proposed LT Bk     CRISIL B+      1.3     Rating
                                        Loan Fac                                  Migrated
(Issuer Not Cooperating)
Nand Hospitality Pvt Ltd                TL                 CRISIL B+      234.5   Rating
                                                                                  Migrated
(Issuer Not Cooperating)
New Era Industries                      CC                 CRISIL BB-     20      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Omvir Singh                             BG                 CRISIL D       329.6   Downgraded
                                                                                  from CRISIL BB
Omvir Singh                             Overdraft          CRISIL D       20.4    Downgraded
                                                                                  from CRISIL BB
Peejay Agro Foods Pvt Ltd               CC                 CRISIL D       60      Downgraded
                                                                                  from CRISIL B-
Peejay Agro Foods Pvt Ltd               LT Loan            CRISIL D       64      Downgraded
                                                                                  from CRISIL B-
R M Dhariwal (HUF)                      CC                 CRISIL BB+     70      Reaffirmed
R M Dhariwal (HUF)                      Proposed LT Bk     CRISIL BB+     128     Withdrawn
                                        Loan Fac
Rachana Constructions - Pune            Proposed LT Bk     CRISIL B       50      Reaffirmed
                                        Loan Fac
Ramniklal S. Gosalia and Co.            LOC*               CRISIL A-      1400    Upgraded from
                                                                                  CRISIL BBB+
* Includes sublimit of cash credit of Rs.5 crore
Rateria Laminators Pvt Ltd              Channel Financing  CRISIL BB      60      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Raudra Technocrats Pvt Ltd              CC                 CRISIL BB-     50      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Raudra Technocrats Pvt Ltd              Proposed LT Bk     CRISIL BB-     10      Rating
                                        Loan Fac                                  Migrated
(Issuer Not Cooperating)
Ravi Nair Hospitals Pvt Ltd             CC                 CRISIL BB+     35      Reaffirmed
Ravi Nair Hospitals Pvt Ltd             TL                 CRISIL BB+     154.4   Reaffirmed
Rishta Polymer Industries Pvt Ltd       TL                 CRISIL B+      29.2    Assigned
Rishta Polymer Industries Pvt Ltd       CC                 CRISIL B+      25      Assigned
Rishta Polymer Industries Pvt Ltd       Proposed LT Bk     CRISIL B+      45.8    Assigned
                                        Loan Fac
Rudranee Infrastructure Ltd             BG                 CRISIL D       400     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Rudranee Infrastructure Ltd             CC                 CRISIL D       1090    Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Rudranee Infrastructure Ltd             Proposed CC Limit  CRISIL D       350     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Rudranee Infrastructure Ltd             Proposed LOC & BG  CRISIL D       660     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
S H Kelkar And Co. Ltd                  Proposed LT Bk     CRISIL AA-     200     Upgraded from
                                        Loan Fac                                  CRISIL A+
S H Kelkar And Co. Ltd                  WC Demand Loan*    CRISIL AA-     1670    Upgraded from
                                                                                  CRISIL A+
(Includes sub-limit of Rs.95 crore export packing credit facility, sub-limit of Rs.20 crore
overdraft facility, sub-limit of Rs.40 crore bills discounting facility, sub-limit of Rs.20
crore letter of credit facility/bank guarantee.)
Saatvik Ferro Ltd                       CC                 CRISIL BB      20      Assigned
Safi Traders                            CC                 CRISIL BB      240     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Safi Traders                            Channel Financing  CRISIL BB      250     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Safi Traders                            LT Loan            CRISIL BB      12.5    Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Safi Traders                            Overdraft          CRISIL BB      20      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Safi Traders                            Proposed LT Bk     CRISIL BB      57.5    Rating
                                        Loan Fac                                  Migrated
(Issuer Not Cooperating)
Sarwati Polymers Pvt Ltd                CC                 CRISIL B       30      Withdrawal
(Issuer Not Cooperating)
Sarwati Polymers Pvt Ltd                Proposed LT Bk     CRISIL B       28      Withdrawal
                                        Loan Fac
(Issuer Not Cooperating)
Sarwati Polymers Pvt Ltd                TL                 CRISIL B       12      Withdrawal
(Issuer Not Cooperating)
Shree Bishnu Feed Industries            CC                 CRISIL D       83.5    Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Smart Stack Warehousing                 TL                 CRISIL B       120     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Solace Engineers (Mktg.) Pvt Ltd        CC                 CRISIL B+      65      Withdrawn
(Migrated from CRISIL A4(Issuer Not Cooperating)
Sri Veereshwara Agro Agencies           CC                 CRISIL B+      50      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
SSK Exports Ltd                         Foreign Bill       CRISIL BB+     560     Assigned
                                        Purchase
Suspension Revoked
Stable Packaging Pvt Ltd                CC                 CRISIL BB-     80      Assigned
Suspension Revoked
Stable Packaging Pvt Ltd                Proposed LT Bk     CRISIL BB-     40      Assigned
                                        Loan Fac
Suspension Revoked
Subir Engineering Works Pvt Ltd         CC                 CRISIL BBB-    1.5     Assigned
Success Engineers                       CC                 CRISIL BB      25      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Success Engineers                       LT Loan            CRISIL BB      38.5    Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Sundaram Industries                     CC                 CRISIL BB-     45      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Tessolve Semiconductor Pvt Ltd          CC                 CRISIL BBB     5       Reaffirmed
Tessolve Semiconductor Pvt Ltd          TL                 CRISIL BBB     275     Reaffirmed
Tessolve Semiconductor Pvt Ltd          Proposed FB Bk     CRISIL BBB     128.4   Reaffirmed
                                        Limits
Tessolve Semiconductor Pvt Ltd          Export Packing     CRISIL BBB     245     Reaffirmed
                                        Credit
The Jorehaut Tea Ltd                    Proposed LT Bk     CRISIL BB+     150     Withdrawal
                                        Loan Fac
(Issuer Not Cooperating)
The Kerala Khadi and Village Industries CC                 CRISIL BB-     109     Reaffirmed
Association
The Kerala Khadi and Village Industries Proposed CC Limit  CRISIL BB-     50      Reaffirmed
Association
The Kerala Khadi and Village Industries Proposed LT Bk     CRISIL BB-     21      Reaffirmed
Association                             Loan Fac
The Kerala Khadi and Village Industries TL                 CRISIL BB-     20      Reaffirmed
Association
Tirumala Comprints Ltd                  CC                 CRISIL B-      108     Reaffirmed
Tirumala Comprints Ltd                  LT Loan            CRISIL B-      12      Reaffirmed
Veda Engineering Pvt Ltd                Bill Discounting   CRISIL B       12.6    Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Veda Engineering Pvt Ltd                CC                 CRISIL B       20      Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Veda Engineering Pvt Ltd                Overdraft          CRISIL B       10.8    Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Veda Engineering Pvt Ltd                Proposed LT Bk     CRISIL B       12.5    Rating
                                        Loan Fac                                  Migrated
(Issuer Not Cooperating)
Vedant Trade Impex Pvt Ltd              Proposed Packing   CRISIL D       150     Downgraded
                                        Credit                                    from CRISIL B+
Venus P.P. Varadaraju Spinning Mills    CC                 CRISIL B       50      Withdrawn
Pvt Ltd
Venus P.P. Varadaraju Spinning Mills    LT Loan            CRISIL B       24      Withdrawn
Pvt Ltd
Venus P.P. Varadaraju Spinning Mills    Proposed TL        CRISIL B       26.4    Withdrawn
Pvt Ltd
Vidhatri Motors Pvt Ltd                 CC                 CRISIL B       7.5     Revised from
                                                                                  CRISIL B+to
                                                                                  CRISIL D and
                                                                                  Simultaneously
                                                                                  Upgraded to
                                                                                  CRISIL B
Vidhatri Motors Pvt Ltd                 Inventory Funding  CRISIL B       75      Revised from
                                        Fac                                       CRISIL B+to
                                                                                  CRISIL D and 
                                                                                  Simultaneously
                                                                                  Upgraded to
                                                                                  CRISIL B    
Vidhatri Motors Pvt Ltd                 TL                 CRISIL B       17.5    Revised from
                                                                                  CRISIL B+to
                                                                                  CRISIL D and
Simultaneously Upgraded to CRISIL B/Stable
Vishal Mega Mart Pvt Ltd                Proposed LT Bk     CRISIL BBB     137.1   -
                                        Loan Fac
(Placed on Rating Watch with Positive Implications)
Vishal Mega Mart Pvt Ltd                TL                 CRISIL BBB     2488    -
(Placed on Rating Watch with Positive Implications)
Vision Freight Solutions India Pvt Ltd  BG                 CRISIL D       5       Withdrawal
(Issuer Not Cooperating)
Vision Freight Solutions India Pvt Ltd  CC                 CRISIL D       95      Withdrawal
(Issuer Not Cooperating)
Vision Freight Solutions India Pvt Ltd  LT Loan            CRISIL D       24.2    Withdrawal
(Issuer Not Cooperating)
Vision Freight Solutions India Pvt Ltd  Proposed CC Limit  CRISIL D       20.8    Withdrawal
(Issuer Not Cooperating)
Vision Freight Solutions India Pvt Ltd  Standby Line of    CRISIL D       10      Withdrawal
                                        Credit
(Issuer Not Cooperating)
Watsun Infrabuild Pvt Ltd               Proposed WC Fac    CRISIL BBB-    700     Assigned
Watsun Infrabuild Pvt Ltd               TL                 CRISIL BBB-    7920    Assigned
Wellbore Engineering Company            BG                 CRISIL D       6       Withdrawn
(Issuer Not Cooperating)
Wellbore Engineering Company            CC                 CRISIL D       10      Withdrawn
(Issuer Not Cooperating)
Wellbore Engineering Company            Proposed LT Bk     CRISIL D       68.5    Withdrawn
                                        Loan Fac
(Issuer Not Cooperating)
Wellbore Engineering Company            TL                 CRISIL D       35.5    Withdrawn
(Issuer Not Cooperating)
Winsun Ceramic Pvt Ltd                  CC                 CRISIL BB-     50      Upgraded from
                                                                                  CRISIL B+
Winsun Ceramic Pvt Ltd                  Proposed LT Bk     CRISIL BB-     18      Upgraded from
                                        Loan Fac                                  CRISIL B+
Winsun Ceramic Pvt Ltd                  TL                 CRISIL BB-     41      Upgraded from
                                                                                  CRISIL B+
--------------------------------------------------------------------------------------------
$: 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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