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CRISIL ratings for Indian debt instruments-Nov 19

Nov 19  - Below are the ratings awarded by Credit Rating Information Service of India (CRISIL)
for local debt instruments as of November 18, 2020.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aauraa International                    Packing Credit     CRISIL A4      60      Rating
                                                                                  Withdrawn
(Issuer Not Cooperating)
Agrawal Metal Works Pvt Ltd             BG                 CRISIL A2+     300     Reaffirmed
Alembic Pharmaceuticals Ltd             CP                 CRISIL A1+     7500    Reaffirmed
Arun Oil Trade                          LOC                CRISIL A4+     150     Withdrawn
B. S. Sea Foods Pvt Ltd                 Proposed ST Bk     CRISIL A4+     21      Migrated from
                                        Loan Fac                                  CRISIL A4+
(Issuer Not Cooperating)
Bluezone Vitrified Pvt Ltd              BG                 CRISIL A4      45      Withdrawn
(Issuer Not Cooperating)
Chandrashekhar Exports Pvt Ltd          Packing Credit     CRISIL A4+     500     Rating
                                                                                  Reaffirmed
                                                                                  and Withdrawn
Durga Polysters Pvt Ltd                 BG                 CRISIL A4      20      Rating
                                                                                  Withdrawn
(Issuer Not Cooperating)
Durga Polysters Pvt Ltd                 Proposed ST Bk     CRISIL A4      20      Rating
                                        Loan Fac                                  Withdrawn
(Issuer Not Cooperating)
HMC MM Auto Ltd                         Overdraft$         CRISIL A1+     365     Reaffirmed
$Fully Interchangeable with Working Capital Term Loan, Short term Bank Loan Facility
Indo Autotech Ltd                       BG                 CRISIL A2+     10      Reaffirmed
Indo Autotech Ltd                       LOC                CRISIL A2+     110     Reaffirmed
Indo Autotech Ltd                       LOC & BG           CRISIL A2+     70      Reaffirmed
Indo Autotech Ltd                       Pre Shipment       CRISIL A2+     150     Reaffirmed
                                        Finance
Indo Autotech Ltd                       Packing Credit     CRISIL A2+     120     Reaffirmed
Jagmini Micro Knit Pvt Ltd              Foreign Exchange   CRISIL A3+     15      -
                                        Forward
Jagmini Micro Knit Pvt Ltd              LOC                CRISIL A3+     10      -
Jagmini Micro Knit Pvt Ltd              Pre Shipment       CRISIL A3+     72.5    -
                                        Credit*
*Post-shipment credit of Rs 7.25 Cr is sub-limit of pre-shipment credit
Kaleesuwari Refinery Pvt Ltd            LOC                CRISIL A1      6845.9  Upgraded from
                                                                                  CRISIL A2+
Kaleesuwari Refinery Pvt Ltd            ST Loan            CRISIL A1      550     Upgraded from
                                                                                  CRISIL A2+
Kotak Mahindra Prime Ltd                Proposed ST Bk     CRISIL A1+     29750   Reaffirmed
                                        Loan Fac^^
^^Interchangeable with long term bank facilities
Kotak Mahindra Prime Ltd                CP Programme       CRISIL A1+     90000   Reaffirmed
Kotak Mahindra Prime Ltd                CP Programme(IPO   CRISIL A1+     65000   Reaffirmed
                                        Financing)*
*Assigned for application on proprietary account and is over and above Rs 9,000 crore commercial
paper programme 
Leotronic Scales Pvt Ltd                BG                 CRISIL A4+     120     Migrated from
                                                                                  CRISIL A3
(Issuer Not Cooperating)
Medeor Hospital Ltd                     Overdraft          CRISIL D       580     Downgraded
                                                                                  from CRISIL
                                                                                  A4; Rating
Withdrawn)
Narmada Drinks Pvt Ltd                  Overdraft          CRISIL A4+     50      Migrated from
                                                                                  CRISIL A2
(Issuer Not Cooperating)
Palmetto Industries India Pvt Ltd       LOC                CRISIL A4      35      Rating
                                                                                  Withdrawn
(Issuer Not Cooperating)
Palmetto Industries India Pvt Ltd       Packing Credit in  CRISIL A4      55      Rating
                                        Foreign Currency                          Withdrawn
(Issuer Not Cooperating)
ReNew Wind Energy (AP) Pvt Ltd          ST Loan            CRISIL A1      1500    Reaffirmed
Shree Sainath Textiles Pvt Ltd          BG                 CRISIL A4      5       Reaffirmed
Spectrum Power Generation Ltd           LOC                CRISIL A4+     220     Downgraded
                                                                                  from CRISIL A3
SSP Pvt Ltd                             BG                 CRISIL A2      330     Reaffirmed
SSP Pvt Ltd                             Foreign Exchange   CRISIL A2      12      Reaffirmed
                                        Forward
SSP Pvt Ltd                             LOC                CRISIL A2      20      Reaffirmed
SSP Pvt Ltd                             LOC & BG           CRISIL A2      50      Reaffirmed
Vritti Solutions Ltd                    BG                 CRISIL A4+     7.5     Downgraded
                                                                                  from CRISIL A3
Worth Peripherals Ltd                   Non-FBL            CRISIL A2      1.8     Reaffirmed

LONG TERM RATINGS:
-------------------
Aauraa International                    Proposed WC Fac    CRISIL         30      Rating
                                                           B/Stable               Withdrawn
(Issuer Not Cooperating)
Aauraa International                    TL                 CRISIL         10      Rating
                                                           B/Stable               Withdrawn
(Issuer Not Cooperating)
Adyah Solar Energy Pvt Ltd              Rupee TL           CRISIL         1857.2  Reaffirmed
                                                           A/Negative
Adyah Solar Energy Pvt Ltd              Rupee TL*          CRISIL         9460    Reaffirmed
                                                           A/Negative
*Interchangeable with LC sublimit of Rs 905 Cr
Agrawal Metal Works Pvt Ltd             CC                 CRISIL         1900    Outlook
                                                           A-/Negative            revised from
                                                                                  Stable and
rating reaffirmed
Agrawal Metal Works Pvt Ltd             LT Loan            CRISIL         47.2    Outlook
                                                           A-/Negative            revised from
                                                                                  Stable and
rating reaffirmed
Agrawal Metal Works Pvt Ltd             WC Fac             CRISIL         172.8   Outlook
                                                           A-/Negative            revised from
                                                                                  Stable and
rating reaffirmed
Alembic Pharmaceuticals Ltd             NCD                CRISIL         3000    Reaffirmed
                                                           AA+/Stable
Alembic Pharmaceuticals Ltd             NCD                CRISIL         3000    Reaffirmed
                                                           AA+/Stable
Alembic Pharmaceuticals Ltd             NCD                CRISIL         2000    Reaffirmed
                                                           AA+/Stable
Arabian Gold and Diamonds Kayamkulam    CC                 CRISIL         220     Migrated from
                                                           BB-/Stable             CRISIL
                                                                                  BB-/Stable;
Rating Withdrawn
(Issuer Not Cooperating)
Arun Oil Trade                          CC                 CRISIL         100     Withdrawn
                                                           BB+/Stable
Asirvad Microfinance Ltd-Northern Arc   Series A1 PTCs     CRISIL A+      777.3   -
2019 MFI Chomsky                                           (SO)/Watch
                                                           Negative
Continues on Rating Watch with Negative  Implications
Audio Design                            CC                 CRISIL D       14.5    Downgraded
                                                                                  from CRISIL
                                                                                  BB/Stable
Audio Design                            Corporate Mortgage CRISIL D       9.5     Downgraded
                                        Loan                                      from CRISIL
                                                                                  BB/Stable
Audio Design                            LT Loan            CRISIL D       41.4    Downgraded
                                                                                  from CRISIL
                                                                                  BB/Stable
Audio Design                            Proposed FB Bk     CRISIL D       44.6    Downgraded
                                        Limits                                    from CRISIL
                                                                                  BB/Stable
Audio Design                            Rupee TL           CRISIL D       30      Downgraded
                                                                                  from CRISIL
                                                                                  BB/Stable
AVA Chemicals Pvt Ltd                   WC Fac             CRISIL         100     Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  BBB-/Stable
(Issuer Not Cooperating)
AVP Powerinfra Pvt Ltd                  CC                 CRISIL         149     Reaffirmed
                                                           A+/Negative
AVP Powerinfra Pvt Ltd                  Proposed LT Bk     CRISIL         7       Reaffirmed
                                        Loan Fac           A+/Negative
AVP Powerinfra Pvt Ltd                  Rupee TL           CRISIL         1704    Reaffirmed
                                                           A+/Negative
B. S. Sea Foods Pvt Ltd                 Export Packing     CRISIL         150     Migrated from
                                        Credit             BB-/Stable             CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
B. S. Sea Foods Pvt Ltd                 LT Loan            CRISIL         39      Migrated from
                                                           BB-/Stable             CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
B. S. Sea Foods Pvt Ltd                 WC Fac             CRISIL         70      Migrated from
                                                           BB-/Stable             CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Badoni Power Pvt Ltd                    CC                 CRISIL         124     Reaffirmed
                                                           A+/Negative
Badoni Power Pvt Ltd                    Proposed LT Bk     CRISIL         4       Reaffirmed
                                        Loan Fac           A+/Negative
Badoni Power Pvt Ltd                    Rupee TL           CRISIL         1832    Reaffirmed
                                                           A+/Negative
Bhumi Prakash Pvt Ltd                   TL                 CRISIL         948.8   Reaffirmed
                                                           A/Negative
Bijapur Hungund Tollway Pvt Ltd         TL                 CRISIL         1084.5  Removed from
                                                           AA/Positive            Rating Watch
                                                                                  with Positive
Implications; Rating Reaffirmed
Bijapur Hungund Tollway Pvt Ltd         NCD                CRISIL         2500    Removed from
                                                           AA/Positive            Rating Watch
                                                                                  with Positive
Implications; Rating Reaffirmed
Bijapur Hungund Tollway Pvt Ltd         NCD                CRISIL         1450    Removed from
                                                           AA/Positive            Rating Watch
                                                                                  with Positive
Implications; Rating Reaffirmed
Bluezone Vitrified Pvt Ltd              CC                 CRISIL         80      Withdrawn
                                                           B+/Stable
(Issuer Not Cooperating)
Bluezone Vitrified Pvt Ltd              TL                 CRISIL         317     Withdrawn
                                                           B+/Stable
(Issuer Not Cooperating)
Cheran Spinning Mills Pvt Ltd           CC                 CRISIL         250     Reaffirmed
                                                           BBB/Stable
Cheran Spinning Mills Pvt Ltd           LT Loan            CRISIL         120     Reaffirmed
                                                           BBB/Stable
Dewan Housing Finance Corporation       Series A1 PTCs     CRISIL B-      1122.5  Continues on
Ltd-Nirmaan RMBS Trust - Series II -                       (SO)/Watch             Rating Watch
2014                                                       Negative               with Negative
Implications
Dewan Housing Finance Corporation       Series A2 PTCs     CRISIL B-      46.8    Continues on
Ltd-Nirmaan RMBS Trust - Series II -                       (SO)/Watch             Rating Watch
2014                                                       Negative               with Negative
Implications
Durga Polysters Pvt Ltd                 CC                 CRISIL         120     Rating
                                                           B/Stable               Withdrawn
(Issuer Not Cooperating)
Durga Polysters Pvt Ltd                 Proposed LT Bk     CRISIL         110     Rating
                                        Loan Fac           B/Stable               Withdrawn
(Issuer Not Cooperating)
Durga Polysters Pvt Ltd                 TL                 CRISIL         380     Rating
                                                           B/Stable               Withdrawn
(Issuer Not Cooperating)
Essbee Intech Pvt Ltd                   CC                 CRISIL         110     Reaffirmed
                                                           BB/Stable
Goldy Precision Stampings Pvt Ltd       CC                 CRISIL         110     Reaffirmed
                                                           BBB/Negative
Goldy Precision Stampings Pvt Ltd       Proposed WC Fac    CRISIL         40      Reaffirmed
                                                           BBB/Negative
Haryana Rice Mill - Saharanpur          CC                 CRISIL         40      Withdrawn
                                                           B/Stable
(Issuer Not Cooperating)
Haryana Rice Mill - Saharanpur          Rupee TL           CRISIL         40      Withdrawn
                                                           B/Stable
(Issuer Not Cooperating)
HMC MM Auto Ltd                         TL*                CRISIL         10      Reaffirmed
                                                           AA/Stable
*Interchangeable with Buyer's credit and LC
IndInfravit Trust                       NCD                Provisional    21500   Removed from
                                                           CRISIL                 Rating Watch
                                                           AAA/Stable^            with
Developing implications; Rating Reaffirmed
Indo Autotech Ltd                       CC                 CRISIL         925     Reaffirmed
                                                           A-/Stable
Indo Autotech Ltd                       External           CRISIL         550     Reaffirmed
                                        Commercial         A-/Stable
                                        Borrowings
Indo Autotech Ltd                       LT Loan            CRISIL         1865    Reaffirmed
                                                           A-/Stable
Indo Autotech Ltd                       TL                 CRISIL         150     Reaffirmed
                                                           A-/Stable
Indo European Breweries Ltd             CC                 CRISIL         30      Migrated
                                                           BB+/Stable             from CRISIL
                                                                                  BBB-/Stable;
Rating Withdrawn
(Issuer Not Cooperating)
Indo European Breweries Ltd             TL                 CRISIL         70      Migrated
                                                           BB+/Stable             from CRISIL
                                                                                  BBB-/Stable;
Rating Withdrawn
(Issuer Not Cooperating)
Ingress Autoventures India Pvt Ltd      Overdraft          CRISIL         100     Outlook
                                                           BB+/Negative           revised from
                                                                                  Stable and
rating reaffirmed
J.K. International                      CC                 CRISIL D       65.5    Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
J.K. International                      Cash TL            CRISIL D       44.5    Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
Jagmini Micro Knit Pvt Ltd              Proposed WC Fac    CRISIL         0.9     -
                                                           BBB/Stable
Jagmini Micro Knit Pvt Ltd              TL                 CRISIL         11.1    -
                                                           BBB/Stable
Jagmini Micro Knit Pvt Ltd              TL**               CRISIL         5.5     -
                                                           BBB/Stable
**Capex letter of credit of Rs 0.55 Cr is sub-limit of term loan
Kaleesuwari Refinery Pvt Ltd            CC                 CRISIL         100     Upgraded from
                                                           A/Stable               CRISIL
                                                                                  A-/Stable
Kaleesuwari Refinery Pvt Ltd            Proposed LT Bk     CRISIL         832.7   Upgraded from
                                        Loan Fac           A/Stable               CRISIL
                                                                                  A-/Stable
Kaleesuwari Refinery Pvt Ltd            TL                 CRISIL         921.4   Upgraded from
                                                           A/Stable               CRISIL
                                                                                  A-/Stable
Khan Steel Centre Pvt Ltd               CC                 CRISIL         51      Reaffirmed
                                                           BB-/Stable
Kotak Mahindra Prime Ltd                CC & WC demand loanCRISIL         42460   Reaffirmed
                                                           AAA/Stable
Kotak Mahindra Prime Ltd                LT Loan            CRISIL         250     Reaffirmed
                                                           AAA/Stable
Kotak Mahindra Prime Ltd                Proposed LT Bk     CRISIL         27540   Reaffirmed
                                        Loan Fac^          AAA/Stable
^Interchangeable with short term bank facilities
Kotak Mahindra Prime Ltd                NCD                CRISIL         25000   Assigned
                                                           AAA/Stable
Kotak Mahindra Prime Ltd                NCDs               CRISIL         115332  Reaffirmed
                                                           AAA/Stable
Kotak Mahindra Prime Ltd                Subordinated Debt  CRISIL         6439    Reaffirmed
                                                           AAA/Stable
Kotak Mahindra Prime Ltd                NCDs               CRISIL         33461   Withdrawn
                                                           AAA/Stable
Kotak Mahindra Prime Ltd                LT Principal       CRISIL PP-MLD  2318    Reaffirmed
                                        Protected Market   AAAr/Stable
                                        Linked Debentures
Kotak Mahindra Prime Ltd                Nifty Linked       CRISIL PP-MLD  3291    Reaffirmed
                                        Debentures         AAAr/Stable
Kotak Mahindra Prime Ltd                LT Principal       CRISIL PP-MLD  3952    Withdrawn
                                        Protected Market   AAAr/Stable
                                        Linked Debentures
Leotronic Scales Pvt Ltd                CC                 CRISIL         30      Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  BBB-/Stable
(Issuer Not Cooperating)
Masqati Dairy Products                  CC                 CRISIL         100     Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  BBB-/Stable
(Issuer Not Cooperating)
MDA Agrocot Pvt Ltd                     CC                 CRISIL         30      Upgraded from
                                                           B/Stable               CRISIL
                                                                                  B-/Stable
MDA Agrocot Pvt Ltd                     Export Packing     CRISIL         32.4    Upgraded from
                                        Credit             B/Stable               CRISIL
                                                                                  B-/Stable
MDA Agrocot Pvt Ltd                     Proposed LT Bk     CRISIL         257.6   Upgraded from
                                        Loan Fac           B/Stable               CRISIL
                                                                                  B-/Stable
Medeor Hospital Ltd                     LT Loan            CRISIL D       4240    Downgraded
                                                                                  from CRISIL
                                                                                  B+/Stable;
Rating Withdrawn
Narmada Drinks Pvt Ltd                  TL                 CRISIL         50      Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  BBB/Stable
(Issuer Not Cooperating)
Narmada Drinks Pvt Ltd                  CC                 CRISIL         50      Withdrawn
                                                           BBB/Stable
(Issuer Not Cooperating)
Narmada Drinks Pvt Ltd                  Overdraft          CRISIL         40      Withdrawn
                                                           BBB/Stable
(Issuer Not Cooperating)
Narmada Drinks Pvt Ltd                  Proposed LT Bk     CRISIL         30      Withdrawn
                                        Loan Fac           BBB/Stable
(Issuer Not Cooperating)
Nikhil Mercantile Pvt Ltd               TL                 CRISIL         20      Assigned
                                                           BB+/Stable
Nikhil Mercantile Pvt Ltd               CC                 CRISIL         50      Assigned
                                                           BB+/Stable
Nikhil Mercantile Pvt Ltd               Proposed LT Bk     CRISIL         280     Assigned
                                        Loan Fac           BB+/Stable
Ostro Anantapur Pvt Ltd                 CC                 CRISIL         436     Reaffirmed
                                                           A+/Negative
Ostro Anantapur Pvt Ltd                 Proposed LT Bk     CRISIL         5       Reaffirmed
                                        Loan Fac           A+/Negative
Ostro Anantapur Pvt Ltd                 Rupee TL           CRISIL         7139    Reaffirmed
                                                           A+/Negative
Ostro Jaisalmer Pvt Ltd                 CC                 CRISIL         167     Reaffirmed
                                                           A+/Negative
Ostro Jaisalmer Pvt Ltd                 Rupee TL           CRISIL         3303    Reaffirmed
                                                           A+/Negative
Ostro Madhya Wind Pvt Ltd               CC                 CRISIL         559     Reaffirmed
                                                           A+/Negative
Ostro Madhya Wind Pvt Ltd               Proposed LT Bk     CRISIL         8       Reaffirmed
                                        Loan Fac           A+/Negative
Ostro Madhya Wind Pvt Ltd               Rupee TL           CRISIL         5563    Reaffirmed
                                                           A+/Negative
Ostro Urja Wind Pvt Ltd                 CC                 CRISIL         402     Reaffirmed
                                                           A+/Negative
Ostro Urja Wind Pvt Ltd                 Proposed LT Bk     CRISIL         8       Reaffirmed
                                        Loan Fac           A+/Negative
Ostro Urja Wind Pvt Ltd                 Rupee TL           CRISIL         4800    Reaffirmed
                                                           A+/Negative
Palmetto Industries India Pvt Ltd       Foreign Bill       CRISIL         60      Rating
                                        Discounting        B-/Stable              Withdrawn
(Issuer Not Cooperating)
Palmetto Industries India Pvt Ltd       Proposed WC Fac    CRISIL         16      Rating
                                                           B-/Stable              Withdrawn
(Issuer Not Cooperating)
Palmetto Industries India Pvt Ltd       TL                 CRISIL         9       Rating
                                                           B-/Stable              Withdrawn
(Issuer Not Cooperating)
Palmetto Industries India Pvt Ltd       WC TL              CRISIL         35      Rating
                                                           B-/Stable              Withdrawn
(Issuer Not Cooperating)
Prathamesh Solarfarms Ltd               CC                 CRISIL         119     Reaffirmed
                                                           A+/Negative
Prathamesh Solarfarms Ltd               Proposed LT Bk     CRISIL         6       Reaffirmed
                                        Loan Fac           A+/Negative
Prathamesh Solarfarms Ltd               Rupee TL           CRISIL         3465    Reaffirmed
                                                           A+/Negative
Renew Agni Power Pvt Ltd                TL                 CRISIL         948.8   Reaffirmed
                                                           A/Negative
ReNew Wind Energy (AP) Pvt Ltd          Proposed LT Bk     CRISIL         257     Reaffirmed
                                        Loan Fac           A+/Negative
ReNew Wind Energy (AP) Pvt Ltd          TL                 CRISIL         1350    Reaffirmed
                                                           A+/Negative
Renew Wind Energy (Karnataka 3) Pvt Ltd Total Bk Loan Fac  CRISIL         966     Reaffirmed
                                        Rated              A/Negative
Renew Wind Energy (Karnataka 4) Pvt Ltd TL                 CRISIL         968.3   Reaffirmed
                                                           A/Negative
Renew Wind Energy (Maharashtra) Pvt Ltd TL                 CRISIL         966.8   Reaffirmed
                                                           A/Negative
Renew Wind Energy (MP Four) Pvt Ltd     TL                 CRISIL         979.3   Reaffirmed
                                                           A/Negative
Renew Wind Energy (MP Three) Pvt Ltd    TL                 CRISIL         1009.5  Reaffirmed
                                                           A/Negative
Renew Wind Energy (Rajasthan Four) Pvt  TL                 CRISIL A       964.5   Reaffirmed
Ltd
Renew Wind Energy (Sipla) Pvt Ltd       External           CRISIL         6865.6  Reaffirmed
                                        Commercial         A/Negative
                                        Borrowings
Renew Wind Energy (Sipla) Pvt Ltd       Loan Equivalent    CRISIL         1250    Reaffirmed
                                        Risk Limits        A/Negative
Renew Wind Energy (Sipla) Pvt Ltd       Proposed LT Bk     CRISIL         404.4   Reaffirmed
                                        Loan Fac           A/Negative
SBESS Services ProjectCo Two Pvt Ltd    LOC                CRISIL         2500    Assigned
                                                           A-/Negative
SBESS Services ProjectCo Two Pvt Ltd    Proposed LT Bk     CRISIL         1.2     Assigned
                                        Loan Fac           A-/Negative
SBESS Services ProjectCo Two Pvt Ltd    Proposed BG*       CRISIL         648.8   Assigned
                                                           A-/Negative
*Performance bank guarantee
SBESS Services ProjectCo Two Pvt Ltd    Proposed LOC       Provisional    15000   Assigned
                                                           CRISIL AAA(CE)
Shree Sainath Textiles Pvt Ltd          CC                 CRISIL         110     Reaffirmed
                                                           B-/Stable
Shree Sainath Textiles Pvt Ltd          Proposed FB Bk     CRISIL         37      Reaffirmed
                                        Limits             B-/Stable
Shreenathji-Udaipur Tollway Pvt Ltd     TL                 CRISIL         1625.5  Removed from
                                                           AA/Positive            Rating Watch
                                                                                  with Positive
implications; Rating Reaffirmed
Shreenathji-Udaipur Tollway Pvt Ltd     NCD                CRISIL         5450    Removed from
                                                           AA/Positive            Rating Watch
                                                                                  with Positive
implications; Rating Reaffirmed
Spectrum Power Generation Ltd           CC                 CRISIL         300     Downgraded
                                                           BB+/Negative           from CRISIL
                                                                                  BBB-/Negative
Spectrum Power Generation Ltd           Proposed LT Bk     CRISIL         280     Downgraded
                                        Loan Fac           BB+/Negative           from CRISIL
                                                                                  BBB-/Negative
SSP Pvt Ltd                             CC                 CRISIL         420     Reaffirmed
                                                           BBB+/Negative
SSP Pvt Ltd                             Proposed FB Bk     CRISIL         300     Reaffirmed
                                        Limits             BBB+/Negative
SSP Pvt Ltd                             Standby Line of    CRISIL         30      Reaffirmed
                                        Credit             BBB+/Negative
Suchitra Yarn Traders                   LT Loan            CRISIL         10      Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  BB+/Stable;
Rating Withdrawn
(Issuer Not Cooperating)
Suchitra Yarn Traders                   Overdraft          CRISIL         120     Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  BB+/Stable;
Rating Withdrawn
(Issuer Not Cooperating)
Superior Drinks Pvt Ltd                 CC                 CRISIL         150     Migrated from
                                                           BBB/Stable             CRISIL
                                                                                  BBB/Stable;
Rating Withdrawn
(Issuer Not Cooperating)
Superior Drinks Pvt Ltd                 Proposed LT Bk     CRISIL         155     Migrated from
                                        Loan Fac           BBB/Stable             CRISIL
                                                                                  BBB/Stable;
Rating Withdrawn
(Issuer Not Cooperating)
Superior Drinks Pvt Ltd                 Rupee TL           CRISIL         650     Migrated from
                                                           BBB/Stable             CRISIL
                                                                                  BBB/Stable;
Rating Withdrawn
(Issuer Not Cooperating)
Suryodaya Industries                    CC                 CRISIL         12.5    Reaffirmed
                                                           B+/Stable
Suryodaya Industries                    LT Loan            CRISIL         75      Reaffirmed
                                                           B+/Stable
Tarun Kiran Bhoomi Pvt Ltd              TL                 CRISIL         968.3   Reaffirmed
                                                           A/Negative
Udaipur Beverages Ltd                   CC                 CRISIL         150     Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  BBB/Stable;
Rating Withdrawn
(Issuer Not Cooperating)
Udaipur Beverages Ltd                   Proposed LT Bk     CRISIL         400     Migrated from
                                        Loan Fac           BB+/Stable             CRISIL
                                                                                  BBB/Stable;
Rating Withdrawn
(Issuer Not Cooperating)
Udaipur Beverages Ltd                   Proposed TL        CRISIL         350     Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  BBB/Stable;
Rating Withdrawn
(Issuer Not Cooperating)
Vayas Multi-trading Pvt Ltd             CC                 CRISIL         82.2    Reaffirmed
                                                           B/Stable
Vritti Solutions Ltd                    CC                 CRISIL         20      Downgraded
                                                           BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
Vritti Solutions Ltd                    Proposed WC Fac    CRISIL         56.1    Downgraded
                                                           BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
Vritti Solutions Ltd                    WC Demand Loan     CRISIL         2.4     Downgraded
                                                           BB+/Negative           from CRISIL
                                                                                  BBB-/Stable
Worth Peripherals Ltd                   CC                 CRISIL         70      Reaffirmed
                                                           BBB+/Stable
Worth Peripherals Ltd                   Proposed TL        CRISIL         30      Reaffirmed
                                                           BBB+/Stable

--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

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

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

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