November 22, 2018 / 5:24 AM / 24 days ago

CRISIL ratings for Indian debt instruments-Nov 22

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

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Ambadi Investments Ltd                  CP Programme       CRISIL A1+     1500    Reaffirmed
Arcanjo Constructions Pvt Ltd           BG                 CRISIL A4      20      Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
Arcanjo Constructions Pvt Ltd           LOC                CRISIL A4      20      Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
Arihant Tiles And Marbles Pvt. Ltd.     BG                 CRISIL A4+     2.5     Assigned
Atlas Dye - Chem India Pvt Ltd          Inland/Import LOC  CRISIL A3      20      Reaffirmed
Bellona Paper Mill Pvt Ltd              BG                 CRISIL A4      10      Reaffirmed
(Issuer Not Cooperating)
Bhartia Distributors Pvt Ltd            BG                 CRISIL A3      15      Reaffirmed
(Issuer Not Cooperating)
Bhartia Distributors Pvt Ltd            Proposed NFBL      CRISIL A3      5       Reaffirmed
(Issuer Not Cooperating)
Blue Water Foods and Exports Pvt Ltd    Packing Credit     CRISIL A4+     1000    Downgraded
                                                                                  from CRISIL A3
Calibre Chemicals Pvt Ltd               LOC & BG           CRISIL A1      150     Upgraded from
                                                                                  CRISIL A2+
DCM Ltd                                 LOC & BG           CRISIL A4+     132.5   Reaffirmed
(Continues on Rating Watch with Negative Implications)
DCM Ltd                                 Overdraft          CRISIL A4+     100     Reaffirmed
(Continues on Rating Watch with Negative Implications)
Divine Infrastructure                   BG                 CRISIL A4+     18      Withdrawn
(Issuer Not Cooperating)
Electro Magnetic Industries             BG                 CRISIL A4+     40      Upgraded from
                                                                                  CRISIL A4
FG Glass Industries Pvt Ltd             Letter Of GuaranteeCRISIL A4+     10      Migrated from
                                                                                  CRISIL A3
(Issuer Not Cooperating)
FG Glass Industries Pvt Ltd             LOC                CRISIL A4+     20      Migrated from
                                                                                  CRISIL A3
(Issuer Not Cooperating)
Global Polybags Industries Pvt Ltd      Foreign Bill       CRISIL A4+     730     Reaffirmed
                                        Negotiation
Global Polybags Industries Pvt Ltd      Foreign Exchange   CRISIL A4+     15      Reaffirmed
                                        Forward
Global Polybags Industries Pvt Ltd      Inland/Import LOC  CRISIL A4+     660     Reaffirmed
Groz Engineering Tools Pvt Ltd          BG                 CRISIL A1+     20      Reaffirmed
Groz Engineering Tools Pvt Ltd          LOC                CRISIL A1+     50      Reaffirmed
Heather Constructions                   BG                 CRISIL A4+     170     Rating
                                                                                  Migrated*
(Issuer Not Cooperating)
Indo Amines Ltd                         LOC                CRISIL A2      240     Reaffirmed
(Removed from Rating Watch with Developing Implications)
Kamdhenu Ltd                            LOC                CRISIL A2      200     Reaffirmed
(Placed on 'Rating Watch with Developing Implications')
Kesho Ram Industries                    LOC                CRISIL A4+     43      Assigned
Luxor International Pvt Ltd             Packing Credit in  CRISIL A4+     400     Migrated from
                                        Foreign Currency                          CRISIL A3
(Issuer Not Cooperating)
Mahalakshmi Infraprojects Ltd           BG                 CRISIL A4+     300     Migrated from
                                                                                  CRISIL A3
(Issuer Not Cooperating)
Narnarayan Infrastructure Pvt Ltd       BG                 CRISIL A4+     110     Reaffirmed
New Rishta Agro India Ltd               Packing Credit     CRISIL A4+     3       Assigned
Suspension revoked
Precia Molen India Pvt Ltd              BG                 CRISIL A4+     30      Migrated from
                                                                                  CRISIL A3+
(Issuer Not Cooperating)
Profand Vayalat Marine Exports Pvt Ltd  Bill Discounting   CRISIL A4+     250     Migrated from
                                        under LOC                                 CRISIL A3
(Issuer Not Cooperating)
Profand Vayalat Marine Exports Pvt Ltd  Packing Credit     CRISIL A4+     100     Migrated from
                                                                                  CRISIL A3
(Issuer Not Cooperating)
R. L. Khanna and Co. (Overseas)         Bill Discounting   CRISIL A4+     80      Reaffirmed
R. L. Khanna and Co. (Overseas)         Packing Credit     CRISIL A4+     210     Reaffirmed
Rajesh Construction Company             BG                 CRISIL A4      47.5    Reaffirmed
S. L. Banthia Textiles Industries Pvt   Packing Credit     CRISIL A4+     20      Migrated from
Ltd                                                                               CRISIL A3+
(Issuer Not Cooperating)
Satluj Spintex Ltd                      BG                 CRISIL A3      12.5    Assigned
Shiwalya Spinning and Weaving Mills Pvt LOC                CRISIL A3      90      Migrated from
Ltd                                                                               CRISIL A4+
                                                                                  (ISSUER NOT
COOPERATING)
(Issuer Not Cooperating)
Sri Thirumalai Balaji Spinning Mills    BG                 CRISIL A4      7.5     Assigned
-Erode
Sri Venkata Subrahmanyeswara Modern Raw BG                 CRISIL A4+     38.4    Upgraded from
and Boiled Rice Mill                                                              CRISIL A4
Sunray Tiles Pvt Ltd                    BG                 CRISIL A4+     15      Reaffirmed
Suryodaya Infra Projects India Pvt Ltd  BG                 CRISIL A4+     180     Assigned

VIP Clothing Ltd                        BG                 CRISIL A3      13.5    Reaffirmed
VIP Clothing Ltd                        Foreign Exchange   CRISIL A3      5       Reaffirmed
                                        Forward
VIP Clothing Ltd                        LOC                CRISIL A3      278.5   Reaffirmed
Visual Technologies India Pvt Ltd       BG                 CRISIL A3      70      Reaffirmed
Visual Technologies India Pvt Ltd       Foreign Exchange   CRISIL A3      1       Reaffirmed
                                        Forward
Visual Technologies India Pvt Ltd       LOC                CRISIL A3      30      Reaffirmed

LONG TERM RATINGS:
-------------------
Acqua Pearl Properties ( India) Pvt Ltd TL                 CRISIL B+      51.5    Assigned
Aditya Spinners Ltd                     LT Loan            CRISIL BB      69.9    Reaffirmed
Reaffirmed
Aditya Spinners Ltd                     Proposed LT Bk     CRISIL BB      2.6     Reaffirmed
                                        Loan Fac
Reaffirmed
Aditya Spinners Ltd                     Secured Overdraft  CRISIL BB      47.5    Reaffirmed
                                        Fac
Reaffirmed
Amrit Humifresh Preservation Pvt Ltd    LT Loan            CRISIL BB-     198     Rating
                                                                                  Migrated*
(Issuer Not Cooperating)
Arcanjo Constructions Pvt Ltd           CC                 CRISIL B+      50      Migrated from
                                                                                  CRISIL B
(Issuer Not Cooperating)
Arcanjo Constructions Pvt Ltd           Proposed LT Bk     CRISIL B+      5       Migrated from
                                        Loan Fac                                  CRISIL B
(Issuer Not Cooperating)
Arihant Tiles And Marbles Pvt. Ltd.     LT Loan            CRISIL BB      139.5   Assigned
Arihant Tiles And Marbles Pvt. Ltd.     CC                 CRISIL BB      278     Assigned
Asha Ram Tek Ram Educational Trust      TL                 CRISIL D       50      Assigned
Atlas Dye - Chem India Pvt Ltd          CC                 CRISIL BBB-    120     Reaffirmed
Atlas Dye - Chem India Pvt Ltd          Proposed LT Bk     CRISIL BBB-    1.6     Reaffirmed
                                        Loan Fac
Atlas Dye - Chem India Pvt Ltd          TL                 CRISIL BBB-    60      Reaffirmed
Bellona Paper Mill Pvt Ltd              CC                 CRISIL B+      60      Reaffirmed
(Issuer Not Cooperating)
Bellona Paper Mill Pvt Ltd              TL                 CRISIL B+      73.5    Reaffirmed
(Issuer Not Cooperating)
Bhartia Distributors Pvt Ltd            CC                 CRISIL BBB-    150     Reaffirmed
(Issuer Not Cooperating)
Bhartia Distributors Pvt Ltd            Electronic Dealer  CRISIL BBB-    220     Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
(Issuer Not Cooperating)
Blue Water Foods and Exports Pvt Ltd    Foreign Bill       CRISIL BB+     500     Downgraded
                                        Purchase                                  from CRISIL
                                                                                  BBB-
Blue Water Foods and Exports Pvt Ltd    LT Loan            CRISIL BB+     150     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Brindavan Bottlers Pvt Ltd              CC                 CRISIL BB+     400     Migrated from
                                                                                  CRISIL BBB+
(Issuer Not Cooperating)
Brindavan Bottlers Pvt Ltd              LT Loan            CRISIL BB+     439.5   Migrated from
                                                                                  CRISIL BBB+
(Issuer Not Cooperating)
Brindavan Bottlers Pvt Ltd              Proposed FB Bk     CRISIL BB+     10.5    Migrated from
                                        Limits                                    CRISIL BBB+
(Issuer Not Cooperating)
Calibre Chemicals Pvt Ltd               CC*                CRISIL A       435     Upgraded from
                                                                                  CRISIL A-
*Fully interchangeable with cash credit/working capital demand loan/export finance/buyer's
credit/letter of credit/bank guarantee
Calibre Chemicals Pvt Ltd               CC^                CRISIL A       50      Upgraded from
                                                                                  CRISIL A-
^Interchangeable with letter of credit and bank guarantee facilities of up to Rs 5 crore
Citizen Technical Textiles Pvt Ltd      CC                 CRISIL BB+     35      Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Citizen Technical Textiles Pvt Ltd      LT Loan            CRISIL BB+     34.5    Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Citizen Technical Textiles Pvt Ltd      Proposed LT Bk     CRISIL BB+     20.5    Migrated from
                                        Loan Fac                                  CRISIL BBB
(Issuer Not Cooperating)
Classic Agencies                        Proposed WC Fac    CRISIL B+      6.4     Assigned
Classic Agencies                        CC                 CRISIL B+      63.6    Assigned
Classic Agencies                        LT Loan            CRISIL B+      10      Assigned
Darshanlal Jagdishparshad Pvt Ltd       CC                 CRISIL BB-     95      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Darshanlal Jagdishparshad Pvt Ltd       Proposed LT Bk     CRISIL BB-     38.1    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+
Darshanlal Jagdishparshad Pvt Ltd       TL                 CRISIL BB-     41.9    Downgraded
                                                                                  from CRISIL
                                                                                  BB+
DCM Ltd                                 Bill Discounting   CRISIL BB+     750     Reaffirmed
(Continues on Rating Watch with Negative Implications)
DCM Ltd                                 CC                 CRISIL BB+     1360    Reaffirmed
(Continues on Rating Watch with Negative Implications)
DCM Ltd                                 Proposed LT Bk     CRISIL BB+     255.5   Reaffirmed
                                        Loan Fac
(Continues on Rating Watch with Negative Implications)
DCM Ltd                                 TL                 CRISIL BB+     1160.8  Reaffirmed
(Continues on Rating Watch with Negative Implications)
Deepam Silk Retail Pvt Ltd              CC                 CRISIL BB-     110     Reaffirmed
Deepam Silk Retail Pvt Ltd              Proposed CC Limit  CRISIL BB-     30      Reaffirmed
Divine Infrastructure                   CC                 CRISIL BB      6       Rating
                                                                                  Migrated*
(Issuer Not Cooperating)
Divine Infrastructure                   Proposed BG        CRISIL BB      32      Rating
                                                                                  Migrated*
(Issuer Not Cooperating)
Divine Infrastructure                   TL                 CRISIL BB      34      Rating
                                                                                  Migrated*
(Issuer Not Cooperating)
Electro Magnetic Industries             Bill Discounting   CRISIL BB-     10      Upgraded from
                                                                                  CRISIL B+
Electro Magnetic Industries             CC                 CRISIL BB-     50      Upgraded from
                                                                                  CRISIL B+
FG Glass Industries Pvt Ltd             CC                 CRISIL BB+     130     Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
FG Glass Industries Pvt Ltd             LT Loan            CRISIL BB+     60      Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Global Polybags Industries Pvt Ltd      Cash TL            CRISIL BB-     170     Downgraded
                                                                                  from CRISIL BB
Global Polybags Industries Pvt Ltd      Export Packing     CRISIL BB-     20      Downgraded
                                        Credit                                    from CRISIL BB
Global Polybags Industries Pvt Ltd      Proposed LT Bk     CRISIL BB-     5       Downgraded
                                        Loan Fac                                  from CRISIL BB
Green Urja Pvt Ltd                      BG                 CRISIL A-      180     Reaffirmed
Reaffirmed
Green Urja Pvt Ltd                      TL                 CRISIL A-      1720    Assigned
Reaffirmed
Groz Engineering Tools Pvt Ltd          Export Packing     CRISIL A+      440     Reaffirmed
                                        Credit
Groz Engineering Tools Pvt Ltd          Export Packing     CRISIL A+      240     Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Heather Constructions                   Auto loans         CRISIL BB-     16      Rating
                                                                                  Migrated*
(Issuer Not Cooperating)
Heather Constructions                   CC                 CRISIL BB-     260     Rating
                                                                                  Migrated*
(Issuer Not Cooperating)
Heather Constructions                   LT Loan            CRISIL BB-     24      Rating
                                                                                  Migrated*
(Issuer Not Cooperating)
Hi-Can Industries Pvt Ltd               CC                 CRISIL B       150     Reaffirmed
Hi-Can Industries Pvt Ltd               TL                 CRISIL B       10      Reaffirmed
Indo Amines Ltd                         CC                 CRISIL BBB+    525     Reaffirmed
(Removed from Rating Watch with Developing Implications)
Indo Amines Ltd                         Proposed LT Bk     CRISIL BBB+    160     Reaffirmed
                                        Loan Fac
(Removed from Rating Watch with Developing Implications)
Indo Amines Ltd                         TL                 CRISIL BBB+    175     Reaffirmed
(Removed from Rating Watch with Developing Implications)
Jindal House                            CC                 CRISIL BB+     150     Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Jindal House                            Proposed LT Bk     CRISIL BB+     5       Migrated from
                                        Loan Fac                                  CRISIL BBB-
(Issuer Not Cooperating)
K.S. Enterprises Pvt Ltd                CC                 CRISIL B+      250     Migrated from
                                                                                  CRISIL B+
Kamdhenu Ltd                            CC                 CRISIL BBB+    1250    Reaffirmed
Kamdhenu Ltd                            Proposed LT Bk     CRISIL BBB+    50      Reaffirmed
                                        Loan Fac
(Placed on 'Rating Watch with Developing Implications')
Kesho Ram Industries                    CC/ Overdraft Fac  CRISIL BB      65      Assigned
Lal Chinta Rice Mills Pvt Ltd           CC                 CRISIL BB-     50      Reaffirmed
Lal Chinta Rice Mills Pvt Ltd           LT Loan            CRISIL BB-     20      Reaffirmed
Lal Chinta Rice Mills Pvt Ltd           Proposed WC Fac    CRISIL BB-     30      Reaffirmed
Luxor International Pvt Ltd             Proposed LT Bk     CRISIL BB+     22.5    Migrated from
                                        Loan Fac                                  CRISIL BBB-
(Issuer Not Cooperating)
Luxor International Pvt Ltd             TL                 CRISIL BB+     277.5   Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Luxor Writing Instruments Pvt Ltd       CC                 CRISIL BB+     550     Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Luxor Writing Instruments Pvt Ltd       Proposed TL        CRISIL BB+     263.1   Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Luxor Writing Instruments Pvt Ltd       TL                 CRISIL BB+     336.9   Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Mahalakshmi Infraprojects Ltd           CC                 CRISIL BB+     200     Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Narnarayan Infrastructure Pvt Ltd       CC                 CRISIL BB      55      Upgraded from
                                                                                  CRISIL BB-
Narnarayan Infrastructure Pvt Ltd       TL                 CRISIL BB      20      Upgraded from
                                                                                  CRISIL BB-
New Rishta Agro India Ltd               CC                 CRISIL BB-     77      Assigned
Suspension revoked
New Rishta Agro India Ltd               Proposed FB Bk     CRISIL BB-     5       Assigned
                                        Limits
Suspension revoked
NRSS XXIX Transmission Ltd              NCD                CRISIL AAA     30000   Assigned
Pragati Polymers                        CC                 CRISIL BB-     80      Assigned
Pratap Re-Rollers Pvt Ltd               CC                 CRISIL BB+     45      Reaffirmed
Pratap Re-Rollers Pvt Ltd               Proposed LT Bk     CRISIL BB+     55      Reaffirmed
                                        Loan Fac
Precia Molen India Pvt Ltd              CC                 CRISIL BB+     15      Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Precia Molen India Pvt Ltd              Proposed BG        CRISIL BB+     50      Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Precia Molen India Pvt Ltd              Proposed CC Limit  CRISIL BB+     5       Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
R. L. Khanna and Co. (Overseas)         Proposed TL        CRISIL BB-     7.5     Reaffirmed
Rajesh Construction Company             CC/ Overdraft Fac  CRISIL B+      30      Reaffirmed
Rajesh Construction Company             Proposed LT Bk     CRISIL B+      22.5    Reaffirmed
                                        Loan Fac
Roy Apparels Pvt Ltd                    CC                 CRISIL B+      19.5    Rating
                                                                                  Migrated*
(Issuer Not Cooperating)
Roy Apparels Pvt Ltd                    LT Loan            CRISIL B+      65      Rating
                                                                                  Migrated*
(Issuer Not Cooperating)
Roy Apparels Pvt Ltd                    Proposed LT Bk     CRISIL B+      5.5     Rating
                                        Loan Fac                                  Migrated*
(Issuer Not Cooperating)
S. L. Banthia Textiles Industries Pvt   Buyer`s Credit     CRISIL BB+     60      Migrated from
Ltd                                                                               CRISIL BBB
(Issuer Not Cooperating)
S. L. Banthia Textiles Industries Pvt   CC                 CRISIL BB+     60      Migrated from
Ltd                                                                               CRISIL BBB
(Issuer Not Cooperating)
S. L. Banthia Textiles Industries Pvt   Proposed LT Bk     CRISIL BB+     22.9    Migrated from
Ltd                                     Loan Fac                                  CRISIL BBB
(Issuer Not Cooperating)
S. L. Banthia Textiles Industries Pvt   TL                 CRISIL BB+     17.1    Migrated from
Ltd                                                                               CRISIL BBB
(Issuer Not Cooperating)
Saraswati Udyog India Ltd               CC                 CRISIL D       380     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Saraswati Udyog India Ltd               Cash TL            CRISIL D       400     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Saraswati Udyog India Ltd               Inland/Import LOC  CRISIL D       100     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Saraswati Udyog India Ltd               LT Loan            CRISIL D       20      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Saraswati Udyog India Ltd               Proposed LT Bk     CRISIL D       130     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Saraswati Udyog India Ltd               WC Demand Loan     CRISIL D       20      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Satluj Spintex Ltd                      CC                 CRISIL BBB-    1600    Assigned
Satluj Spintex Ltd                      LT Loan            CRISIL BBB-    587.5   Assigned
Shiwalya Spinning and Weaving Mills Pvt CC                 CRISIL BBB-    310     Migrated from
Ltd                                                                               CRISIL BB+
(Issuer Not Cooperating)
Siddharth Real Ventures LLP             Proposed LT Bk     CRISIL BB+     100     Migrated from
                                        Loan Fac                                  CRISIL
                                                                                  BBB-(SO)
Siddhi Vinayak Alloys                   CC                 CRISIL D       34      Downgraded
                                                                                  from CRISIL B
(Issuer Not Cooperating)
Siddhi Vinayak Alloys                   TL                 CRISIL D       46      Downgraded
                                                                                  from CRISIL B
(Issuer Not Cooperating)
Sri Jagadamba Rice Industries           CC                 CRISIL BB      115     Upgraded from
                                                                                  CRISIL BB-
Sri Ram Spinning Mills Ltd              CC                 CRISIL C       128     Reaffirmed
Sri Ram Spinning Mills Ltd              Corporate Loan     CRISIL C       13.1    Reaffirmed
Sri Ram Spinning Mills Ltd              LT Loan            CRISIL C       76.5    Reaffirmed
Sri Ram Spinning Mills Ltd              Proposed LT Bk     CRISIL C       11.9    Reaffirmed
                                        Loan Fac
Sri Ram Spinning Mills Ltd              Standby Line of    CRISIL C       17.5    Reaffirmed
                                        Credit
Sri Ram Spinning Mills Ltd              WC Demand Loan     CRISIL C       3       Reaffirmed
Sri Thirumalai Balaji Spinning Mills    LT Loan            CRISIL B+      142.3   Assigned
-Erode
Sri Thirumalai Balaji Spinning Mills    CC                 CRISIL B+      20      Assigned
-Erode
Sri Venkata Subrahmanyeswara Modern Raw LT Loan            CRISIL BB      10      Upgraded from
and Boiled Rice Mill                                                              CRISIL B+
Sri Venkata Subrahmanyeswara Modern Raw Open CC            CRISIL BB      170     Upgraded from
and Boiled Rice Mill                                                              CRISIL B+
Sri Venkata Subrahmanyeswara Modern Raw Proposed LT Bk     CRISIL BB      5.9     Upgraded from
and Boiled Rice Mill                    Loan Fac                                  CRISIL B+
Suhasini Constructions                  LT Loan            CRISIL B+      26      Assigned
Suhasini Constructions                  Proposed LT Bk     CRISIL B+      124     Assigned
                                        Loan Fac
Sunray Tiles Pvt Ltd                    CC                 CRISIL BB-     60      Reaffirmed
Sunray Tiles Pvt Ltd                    Proposed LT Bk     CRISIL BB-     75      Reaffirmed
                                        Loan Fac
Sunshine Infra Engineers India Pvt Ltd  BG                 CRISIL D       700     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
(Issuer Not Cooperating)
Sunshine Infra Engineers India Pvt Ltd  Proposed LT Bk     CRISIL D       1050    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+
(Issuer Not Cooperating)
Sunshine Infra Engineers India Pvt Ltd  Secured Overdraft  CRISIL D       350     Downgraded
                                        Fac                                       from CRISIL
                                                                                  BB+
(Issuer Not Cooperating)
Suryodaya Infra Projects India Pvt Ltd  CC                 CRISIL BB+     70      Assigned
Vemparala Venkat Rao Cotton Industries  CC                 CRISIL B+      54      Upgraded from
                                                                                  CRISIL B
Vemparala Venkat Rao Cotton Industries  LT Loan            CRISIL B+      6.5     Upgraded from
                                                                                  CRISIL B
Vemparala Venkat Rao Cotton Industries  Proposed LT Bk     CRISIL B+      19.5    Upgraded from
                                        Loan Fac                                  CRISIL B
Vessella Meadows                        LT Loan            CRISIL BB      350     Reaffirmed
Reaffirmed
VIP Clothing Ltd                        CC                 CRISIL BBB-    730.4   Reaffirmed
Outlook revised from Stable
VIP Clothing Ltd                        Proposed LT Bk     CRISIL BBB-    206.6   Reaffirmed
                                        Loan Fac
Outlook revised from Stable
Visual Technologies India Pvt Ltd       CC                 CRISIL BBB-    70      Reaffirmed
Visual Technologies India Pvt Ltd       Proposed LT Bk     CRISIL BBB-    49      Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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