November 30, 2017 / 7:18 AM / 7 months ago

CRISIL ratings for Indian debt instruments-Nov 30

    Nov 30 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of November 29, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Anchor Mark Pvt Ltd                     BG                 CRISIL A4+     10      Assigned
Aristoplast Products Pvt Ltd            BG                 CRISIL A2      230     Upgraded from
                                                                                  CRISIL A3+
Arunachala Gounder Textile Mills Pvt LtdBG                 CRISIL A4+     6       Downgraded
                                                                                  from CRISIL
                                                                                  A3
Arunachala Gounder Textile Mills Pvt LtdLOC                CRISIL A4+     95      Downgraded
                                                                                  from CRISIL
                                                                                  A3
Bhairavnath Hitech Agro Pvt Ltd         BG                 CRISIL A4      2.3     Reaffirmed
CDP (India) Pvt Ltd                     BG                 CRISIL A4+     50      Reaffirmed
Chambal Fertilisers and Chemicals Ltd   BG                 CRISIL A1+     3000    Reaffirmed
Chambal Fertilisers and Chemicals Ltd   LOC & BG@          CRISIL A1+     12500   Reaffirmed
@ Letter of credit and bank guarantee limits are interchangeable.
Chambal Fertilisers and Chemicals Ltd   Non-FBL            CRISIL A1+     25000   Reaffirmed
Chambal Fertilisers and Chemicals Ltd   Proposed LOC       CRISIL A1+     144     Reaffirmed
Cherryhill Interiors Ltd                BG                 CRISIL A1      350     Reaffirmed
Cherryhill Interiors Ltd                Overdraft          CRISIL A1      100     Reaffirmed
Comt Constructions Pvt Ltd              BG                 CRISIL A3      300     Assigned
Ganpati Infrapower Pvt Ltd              Overdraft          CRISIL A4+     1       Assigned
Ganpati Infrapower Pvt Ltd              LOC                CRISIL A4+     50      Assigned
Ganpati Infrapower Pvt Ltd              BG                 CRISIL A4+     350     Assigned
Ganpati Infrapower Pvt Ltd              BG#                CRISIL A4+     49      Assigned
#Letter of credit, worth Rs. 2 crore is the sub-limit of BG
GNA Axles Ltd                           BG                 CRISIL A1      5       Upgraded from
                                                                                  CRISIL A2+
GNA Axles Ltd                           LOC                CRISIL A1      150     Upgraded from
                                                                                  CRISIL A2+
Gulbrandsen Chemicals Pvt Ltd           LOC*               CRISIL A2      600     Reaffirmed
*Includes sub-limit of Rs.60 crore for buyers' credit and Rs.3 crore for bank guarantee
Gulbrandsen Technologies India Pvt Ltd  LOC*               CRISIL A2      300     Reaffirmed
*Buyers credit facility as a sub limit of letter of credit facility
Indiabulls Commercial Credit Ltd        CP                 CRISIL A1+     30000   Reaffirmed
Indiabulls Housing Finance Ltd          ST Bk Fac          CRISIL A1+     10490   Reaffirmed
Indiabulls Housing Finance Ltd          CP Programme       CRISIL A1+     180000  Reaffirmed
Indiabulls Housing Finance Ltd          ST NCD Programme   CRISIL A1+     10000   Reaffirmed
J.P.P. Mills Pvt Ltd                    Bill Discounting   CRISIL A3      70      Reaffirmed
K.Amishkumar Trading Pvt Ltd            LOC                CRISIL A3      3500    Reaffirmed
Millenium Road Construction Pvt Ltd     BG                 CRISIL A4+     75      Reaffirmed
Orbit Exports Ltd                       BG                 CRISIL A2+     10      Reaffirmed
Orbit Exports Ltd                       Foreign Exchange   CRISIL A2+     25.5    Reaffirmed
                                        Forward
R. Kantilal and Company                 Pre Shipment Fac   CRISIL A4+     480.6   Downgraded
                                                                                  from CRISIL
                                                                                  A3
Raja Craft Mills LLP                    BG                 CRISIL A4      15      Assigned
Sahib Tradelinks Pvt Ltd                BG                 CRISIL A4+     100     Reaffirmed
(Issuer Not Cooperating)
Silver Spring Spinners India Pvt Ltd    BG                 CRISIL A4      1.5     Reaffirmed
(Issuer Not Cooperating)
Silver Spring Spinners India Pvt Ltd    LOC                CRISIL A4      10.5    Reaffirmed
(Issuer Not Cooperating)
Steel Providers                         BG                 CRISIL A4      15      Reaffirmed
Tarang Engineering Pvt Ltd              Bill Discounting   CRISIL A4+     77.3    Reaffirmed
                                        under LOC
Tarang Engineering Pvt Ltd              Inland/Import LOC  CRISIL A4+     5       Reaffirmed
Tenkasi Timber and Saw Mill             LOC                CRISIL A4      57.5    Reaffirmed
Vimal Fire Controls Pvt Ltd             BG                 CRISIL A2      850     Reaffirmed
Vishnu Carriers Pvt Ltd                 BG                 CRISIL A4+     30      Assigned
Welmech Engineering Company Pvt Ltd     BG                 CRISIL A4      45      Reaffirmed
Welmech Engineering Company Pvt Ltd     LOC                CRISIL A4      3       Reaffirmed
BPS Industries                          Packing Credit     CRISIL A3+     65      Assigned
BPS Industries                          LOC                CRISIL A3+     10      Assigned
Classic Engineers                       BG                 CRISIL A3      760     Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Decibels Electronics Pvt Ltd            LOC & BG           CRISIL A4      30      Reaffirmed
Delicacies International                Export Bill        CRISIL A4+     70      Reaffirmed
                                        Purchase
                                        -Discounting
Delicacies International                Export Packing     CRISIL A4+     50      Reaffirmed
                                        Credit
Dilip Buildcon Ltd                      CP                 CRISIL A1      1000    Continues on
                                                                                  Rating Watch
                                                                                  With
                                                                                  Developing
                                                                                  Implications
Dilip Buildcon Ltd                      Non-FBL            CRISIL A1      40322   Continues on
                                                                                  Rating Watch
                                                                                  With
                                                                                  Developing
                                                                                  Implications
Dilip Buildcon Ltd                      Proposed NFBL      CRISIL A1      2488.9  Continues on
                                                                                  Rating Watch
                                                                                  With
                                                                                  Developing
                                                                                  Implications
Dilip Buildcon Ltd                      Non-FBL            CRISIL A1      40322   Continues on
                                                                                  Rating Watch
                                                                                  With
                                                                                  Developing
                                                                                  Implications
Dilip Buildcon Ltd                      Proposed NFBL      CRISIL A1      2488.9  Continues on
                                                                                  Rating Watch
                                                                                  With
                                                                                  Developing
                                                                                  Implications
Dilip Buildcon Ltd                      CP                 CRISIL A1      1000    Continues on
                                                                                  Rating Watch
                                                                                  With
                                                                                  Developing
                                                                                  Implications
Dobersun Products Pvt Ltd               BG                 CRISIL A4+     2.5     Reaffirmed
Gulbrandsen Catalysts Pvt Ltd           LOC*               CRISIL A2      250     Reaffirmed
*Buyers credit limit as sub limit of Letter of credit facility
Lumino Industries Ltd                   BG                 CRISIL A3+     2460    Withdrawal
Lumino Industries Ltd                   Bill Discounting   CRISIL A3+     394.7   Withdrawal
                                        under LOC
Lumino Industries Ltd                   LOC                CRISIL A3+     650     Withdrawal
M R T Signals Ltd                       BG                 CRISIL A2      580     Reaffirmed
Madhya Bharat Phosphate Pvt Ltd         BG                 CRISIL A4+     9       Downgraded
                                                                                  from CRISIL A3
(Issuer Not Cooperating)
Madhya Bharat Phosphate Pvt Ltd         LOC                CRISIL A4+     80      Downgraded
                                                                                  from CRISIL A3
(Issuer Not Cooperating)
Monalisa Engicons                       BG                 CRISIL A4+     80      Reaffirmed
(Issuer Not Cooperating)
Quilon Real Industries Pvt Ltd          BG                 CRISIL A4      15      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Radha Industries Pvt Ltd                BG                 CRISIL A4+     10      Reaffirmed
(Issuer Not Cooperating)
Radha Industries Pvt Ltd                Bill Discounting   CRISIL A4+     160     Reaffirmed
                                        under LOC
(Issuer Not Cooperating)
Responsive Industries Ltd               LOC                CRISIL A2      1200    Downgraded
                                                                                  from CRISIL
                                                                                  A2+
Samay Project Services Pvt Ltd          BG                 CRISIL A4      62.5    Reaffirmed
(Issuer Not Cooperating)
Super Floorings Pvt Ltd                 Overdraft          CRISIL A4      50      Assigned
Tritan Leather Works Pvt Ltd            Packing Credit     CRISIL A3+     60      Assigned
Tritan Leather Works Pvt Ltd            LOC                CRISIL A3+     10      Assigned

LONG TERM RATINGS:
-------------------
Amrit Bottlers Pvt Ltd                  Buyer`s Credit     CRISIL A-      150     Upgraded from
                                                                                  CRISIL BBB+
Amrit Bottlers Pvt Ltd                  CC                 CRISIL A-      500     Upgraded from
                                                                                  CRISIL BBB+
Amrit Bottlers Pvt Ltd                  LT Loan            CRISIL A-      700     Upgraded from
                                                                                  CRISIL BBB+
Amrit Bottlers Pvt Ltd                  Proposed LT Bk     CRISIL A-      78.5    Upgraded from
                                        Loan Fac                                  CRISIL BBB+
Anchor Mark Pvt Ltd                     LT Loan            CRISIL BB      8.5     Assigned
Anchor Mark Pvt Ltd                     CC*                CRISIL BB      51.5    Assigned
*Interchangeable with Packing Credit / Foreign Bill Purchase / Packing Credit Foreign Currency /
Foreign Currency Bill Discount / Foreign Currency Bill Purchase / Foreign Bill Discount.
Aristoplast Products Pvt Ltd            CC                 CRISIL BBB+    20      Upgraded from
                                                                                  CRISIL BBB
Arunachala Gounder Textile Mills Pvt LtdCC                 CRISIL BB+     200     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Arunachala Gounder Textile Mills Pvt LtdForeign Bill       CRISIL BB+     20      Downgraded
                                        Discounting                               from CRISIL
                                                                                  BBB-
Arunachala Gounder Textile Mills Pvt LtdLT Loan            CRISIL BB+     160     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Arunachala Gounder Textile Mills Pvt LtdProposed LT Bk     CRISIL BB+     209     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-

Arunachala Gounder Textile Mills Pvt LtdStandby Line of    CRISIL BB+     20      Downgraded
                                        Credit                                    from CRISIL
                                                                                  BBB-
Autocop India Pvt Ltd                   CC                 CRISIL BBB-    520     Reaffirmed
Autocop India Pvt Ltd                   Proposed LT Bk     CRISIL BBB-    2.3     Reaffirmed
                                        Loan Fac
Autocop India Pvt Ltd                   TL                 CRISIL BBB-    10      Reaffirmed
B. P. Spices                            Proposed LT Bk     CRISIL B       30      Assigned
                                        Loan Fac
B. P. Spices                            Key CC             CRISIL B       30      Assigned
B. P. Spices                            Overdraft          CRISIL B       20      Assigned
Bhairavnath Hitech Agro Pvt Ltd         CC                 CRISIL B       96.6    Reaffirmed
Bhairavnath Hitech Agro Pvt Ltd         Proposed LT Bk     CRISIL B       45.3    Reaffirmed
                                        Loan Fac
Bhairavnath Hitech Agro Pvt Ltd         TL                 CRISIL B       35.8    Reaffirmed
Binod Car World Pvt Ltd                 CC                 CRISIL BB-     40      Reaffirmed
Binod Car World Pvt Ltd                 Channel Financing  CRISIL BB-     40      Reaffirmed
Binod Car World Pvt Ltd                 Proposed LT Bk     CRISIL BB-     15.5    Reaffirmed
                                        Loan Fac
Brindavan Shelters Pvt Ltd              CC                 CRISIL BB-     10      Reaffirmed
Brindavan Shelters Pvt Ltd              Electronic Dealer  CRISIL BB-     70      Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Brindavan Shelters Pvt Ltd              Proposed LT Bk     CRISIL BB-     20      Reaffirmed
                                        Loan Fac
CDP (India) Pvt Ltd                     Buyer`s Credit     CRISIL BB      100     Upgraded from
                                                                                  CRISIL BB-
CDP (India) Pvt Ltd                     CC                 CRISIL BB      50      Upgraded from
                                                                                  CRISIL BB-
Chambal Fertilisers and Chemicals Ltd   CC                 CRISIL AA-     10000   Reaffirmed
Chambal Fertilisers and Chemicals Ltd   External           CRISIL AA-     691.6   Reaffirmed
                                        Commercial
                                        Borrowings
Chambal Fertilisers and Chemicals Ltd   External           CRISIL AA-     42073.8 Reaffirmed
                                        Commercial
                                        Borrowings^
^ Equivalent to USD 550 Mn @ 65.74 USD/INR rate.
Chambal Fertilisers and Chemicals Ltd   FB Fac             CRISIL AA-     3000    Reaffirmed
Chambal Fertilisers and Chemicals Ltd   Proposed LT Bk     CRISIL AA-     1364.5  Reaffirmed
                                        Loan Fac
Chambal Fertilisers and Chemicals Ltd   Rupee TL           CRISIL AA-     4661.7  Reaffirmed
Cherryhill Interiors Ltd                Bill Discounting   CRISIL A       200     Reaffirmed
Comt Constructions Pvt Ltd              Proposed LT Bk     CRISIL BBB-    250     Assigned
                                        Loan Fac
Comt Constructions Pvt Ltd              Drop Line          CRISIL BBB-    10      Assigned
                                        Overdraft Fac
Comt Constructions Pvt Ltd              CC                 CRISIL BBB-    70      Assigned
De Lage Landen Financial Services India LT Bk Fac          CRISIL AA+     2000    Reaffirmed
Pvt Ltd
De Lage Landen Financial Services India Proposed LT Bk     CRISIL AA+     6600    Reaffirmed
Pvt Ltd                                 Loan Fac
Echo Motors And Automobiles Pvt Ltd     CC                 CRISIL BB      65      Reaffirmed
(Issuer Not Cooperating)
Echo Motors And Automobiles Pvt Ltd     Proposed Inventory CRISIL BB      50      Reaffirmed
                                        Funding
(Issuer Not Cooperating)
Ganganagar Vehicles Pvt Ltd             CC                 CRISIL B       210     Assigned
Ganpati Infrapower Pvt Ltd              CC*                CRISIL BB+     50      Assigned
*Buyers' credit, worth Rs. 5 crore is the sub-limit of CC
GNA Axles Ltd                           CC*                CRISIL A-      1000    Reaffirmed
*Interchangeable with Packing credit in foreign currency upto Rs.60 cr.
GNA Axles Ltd                           Proposed LT Bk     CRISIL A-      198.8   Reaffirmed
                                        Loan Fac
GNA Axles Ltd                           TL                 CRISIL A-      446.2   Reaffirmed
Gulbrandsen Chemicals Pvt Ltd           CC^                CRISIL BBB+    20      Reaffirmed
^Includes sub-limit of Rs.2 crore for export packing credit/packing credit foreign
currency/foreign bill discounting /post shipment foreign currency limit.
Gulbrandsen Chemicals Pvt Ltd           Proposed LT Bk     CRISIL BBB+    30      Reaffirmed
                                        Loan Fac
Gulbrandsen Technologies India Pvt Ltd  CC                 CRISIL BBB+    5       Reaffirmed
Gulbrandsen Technologies India Pvt Ltd  Proposed LT Bk     CRISIL BBB+    5       Reaffirmed
                                        Loan Fac
Guru Nanak Milk Products                CC                 CRISIL B       65      Reaffirmed
(Issuer Not Cooperating)
Indiabulls Commercial Credit Ltd        LT Bk Fac          CRISIL AAA     4805.5  Upgraded from
                                                                                  CRISIL AA+
Indiabulls Commercial Credit Ltd        Proposed LT Bk     CRISIL AAA     20194.5 Upgraded from
                                        Loan Fac                                  CRISIL AA+
Indiabulls Commercial Credit Ltd        NCD                CRISIL AAA     14500   Upgraded from
                                                                                  CRISIL AA+
Indiabulls Housing Finance Ltd          CC                 CRISIL AAA     52000   Upgraded from
                                                                                  CRISIL AA+
Indiabulls Housing Finance Ltd          LT Bk Fac          CRISIL AAA     166702.2Upgraded from
                                                                                  CRISIL AA+
Indiabulls Housing Finance Ltd          Proposed LT Bk     CRISIL AAA     16307.6 Upgraded from
                                        Loan Fac                                  CRISIL AA+
Indiabulls Housing Finance Ltd          NCD                CRISIL AAA     93000   Upgraded from
                                                                                  CRISIL AA+
Indiabulls Housing Finance Ltd          Subordinated Debt  CRISIL AAA     5000    Upgraded from
                                                                                  CRISIL AA+
Indiabulls Housing Finance Ltd          Retail Bond Issue  CRISIL AAA     20000   Upgraded from
                                                                                  CRISIL AA+
Indiabulls Housing Finance Ltd          Retail Bond Issue  CRISIL AAA     10000   Upgraded from
                                                                                  CRISIL AA+
J.P.P. Mills Pvt Ltd                    CC                 CRISIL BBB-    220     Reaffirmed
J.P.P. Mills Pvt Ltd                    LT Loan            CRISIL BBB-    289.4   Reaffirmed
JSR Developers Pvt Ltd                  TL                 CRISIL B+      90      Upgraded from
                                                                                  CRISIL B-
K.Amishkumar Trading Pvt Ltd            CC                 CRISIL BBB-    500     Reaffirmed
KUN Auto Company Pvt Ltd                CC                 CRISIL BBB-    220     Reaffirmed
KUN Auto Company Pvt Ltd                Inventory Funding  CRISIL BBB-    495     Reaffirmed
                                        Fac
KUN Auto Company Pvt Ltd                TL                 CRISIL BBB-    5       Reaffirmed
Link Enterprises                        BG                 CRISIL D       90      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Link Enterprises                        CC                 CRISIL D       60      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Makkar Textile                          CC                 CRISIL BB-     35      Reaffirmed
(Issuer Not Cooperating)
Makkar Textile                          LT Loan            CRISIL BB-     32      Reaffirmed
(Issuer Not Cooperating)
Makkar Textile                          Proposed LT Bk     CRISIL BB-     45      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Makkar Textile Mills Pvt Ltd            CC                 CRISIL B       60      Reaffirmed
(Issuer Not Cooperating)
Makkar Textile Mills Pvt Ltd            Proposed TL        CRISIL B       56      Reaffirmed
(Issuer Not Cooperating)
Makkar Textile Mills Pvt Ltd            TL                 CRISIL B       85      Reaffirmed
(Issuer Not Cooperating)
Millenium Road Construction Pvt Ltd     CC                 CRISIL BB+     50      Reaffirmed
Orbit Exports Ltd                       CC**               CRISIL A-      235     Reaffirmed
*Includes sublimit of export packing credit/packing credit in foreign currency/export bill
discounting of Rs.21 crore.
Orbit Exports Ltd                       Rupee TL           CRISIL A-      307.8   Reaffirmed
Patwa Automotive Pvt Ltd                CC                 CRISIL D       360     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Patwa Automotive Pvt Ltd                Inventory Funding  CRISIL D       90      Downgraded
                                        Fac                                       from CRISIL
                                                                                  BB-
Patwa Marketing Pvt Ltd                 CC                 CRISIL D       80      Downgraded
                                                                                  from CRISIL BB
Quality Hybrid Seeds Company            CC                 CRISIL B+      70      Upgraded from
                                                                                  CRISIL B
Quality Hybrid Seeds Company            TL                 CRISIL B+      8.8     Upgraded from
                                                                                  CRISIL B
R. Kantilal and Company                 Post Shipment      CRISIL BB+     1119.4  Downgraded
                                        Credit                                    from CRISIL
                                                                                  BBB-
R. Kantilal and Company                 Proposed LT Bk     CRISIL BB+     200     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
R.K. Steel Industries                   CC                 CRISIL BB-     1500    Reaffirmed
(Issuer Not Cooperating)
Rainbow Grains Pvt Ltd                  CC - Book Debt     CRISIL B       25      Reaffirmed
Rainbow Grains Pvt Ltd                  CC-Stock           CRISIL B       65      Reaffirmed
Rainbow Grains Pvt Ltd                  Proposed LT Bk     CRISIL B       60      Reaffirmed
                                        Loan Fac
Raja Craft Mills LLP                    TL                 CRISIL B       105     Assigned
Raja Craft Mills LLP                    CC                 CRISIL B       80      Assigned
Raja Motors (Bathinda)                  CC                 CRISIL B+      65      Reaffirmed
Raja Motors (Bathinda)                  Overdraft          CRISIL B+      20      Reaffirmed
Raja Motors (Bathinda)                  Proposed LT Bk     CRISIL B+      1.3     Reaffirmed
                                        Loan Fac
Real Dairy Industries Pvt Ltd           CC                 CRISIL D       60      Reaffirmed
Real Dairy Industries Pvt Ltd           TL                 CRISIL D       185     Reaffirmed
Sahib Tradelinks Pvt Ltd                CC                 CRISIL BB-     247.5   Reaffirmed
(Issuer Not Cooperating)
Sahib Tradelinks Pvt Ltd                TL                 CRISIL BB-     2.5     Reaffirmed
(Issuer Not Cooperating)
Shree Balaji Enterprise Pvt Ltd         CC                 CRISIL BB+     125     Assigned
Silver Spring Spinners India Pvt Ltd    CC                 CRISIL B       67.5    Reaffirmed
(Issuer Not Cooperating)
Silver Spring Spinners India Pvt Ltd    Proposed LT Bk     CRISIL B       20.5    Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Silver Spring Spinners India Pvt Ltd    Rupee TL           CRISIL B       25      Reaffirmed
(Issuer Not Cooperating)
Skyline Engineering Contracts India Pvt BG                 CRISIL D       251.3   Reaffirmed
Ltd
Skyline Engineering Contracts India Pvt Proposed LT Bk     CRISIL D       271.2   Reaffirmed
Ltd                                     Loan Fac
Skyline Engineering Contracts India Pvt WC Demand Loan     CRISIL D       37.5    Reaffirmed
Ltd
Steel Providers                         CC                 CRISIL B       50      Reaffirmed
Steel Providers                         Proposed CC Limit  CRISIL B       35      Reaffirmed
Sybly Industries Ltd                    CC                 CRISIL B-      110     Reaffirmed
Sybly Industries Ltd                    Proposed LT Bk     CRISIL B-      40      Reaffirmed
                                        Loan Fac
Tarang Engineering Pvt Ltd              Overdraft          CRISIL BB      15      Upgraded from
                                                                                  CRISIL BB-
Tarang Engineering Pvt Ltd              Proposed LT Bk     CRISIL BB      8.1     Upgraded from
                                        Loan Fac                                  CRISIL BB-
Tenkasi Timber and Saw Mill             CC                 CRISIL B       12.5    Reaffirmed
Total Transport Systems Pvt Ltd         CC                 CRISIL BB+     100
Total Transport Systems Pvt Ltd         Proposed CC Limit  CRISIL BB+     310     Reaffirmed
Total Transport Systems Pvt Ltd         TL                 CRISIL BB+     30      Assigned
United Infra                            CC                 CRISIL B+      150     Assigned
Vadivel Pyrotechs Pvt Ltd               CC                 CRISIL BB      150     Assigned
Varanasi Motors Pvt Ltd                 CC                 CRISIL BB+     15      Upgraded from
                                                                                  CRISIL BB
Varanasi Motors Pvt Ltd                 Inventory Funding  CRISIL BB+     80      Upgraded from
                                        Fac                                       CRISIL BB
Vimal Fire Controls Pvt Ltd             CC                 CRISIL BBB+    150     Reaffirmed
Vishnu Carriers Pvt Ltd                 CC                 CRISIL BB-     90      Assigned
Welmech Engineering Company Pvt Ltd     CC                 CRISIL B-      42.5    Reaffirmed
Welmech Engineering Company Pvt Ltd     LT Loan            CRISIL B-      14.1    Reaffirmed
Welmech Engineering Company Pvt Ltd     Proposed LT Bk     CRISIL B-      55.4    Reaffirmed
                                        Loan Fac
    
Adventure Park                          Proposed TL        CRISIL B       50      Assigned
Agarwal Toughened Glass India Pvt Ltd   Standby LOC        CRISIL BB-     4.5     Assigned
Agarwal Toughened Glass India Pvt Ltd   LT Loan            CRISIL BB-     32.5    Assigned
Agarwal Toughened Glass India Pvt Ltd   CC                 CRISIL BB-     30      Assigned
Agarwal Toughened Glass India Pvt Ltd   Electronic Dealer  CRISIL BB-     20      Assigned
                                        Financing
                                        Scheme(e-DFS)
Blue Ocean Beverages Pvt Ltd            CC                 CRISIL BB+     110     Reaffirmed
Blue Ocean Beverages Pvt Ltd            TL                 CRISIL BB+     30      Reaffirmed
BPS Industries                          Bill Discounting   CRISIL BBB     45      Assigned
Classic Engineers                       CC                 CRISIL BBB-    150     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Decibels Electronics Pvt Ltd            CC                 CRISIL B-      15      Reaffirmed
Decibels Electronics Pvt Ltd            LT Loan            CRISIL B-      11      Reaffirmed
Decibels Electronics Pvt Ltd            Proposed LT Bk     CRISIL B-      6.5     Reaffirmed
                                        Loan Fac
Dilip Buildcon Ltd                      NCD                CRISIL A+      6000    Continues on
                                                                                  Rating Watch
                                                                                  With
                                                                                  Developing
                                                                                  Implications
Dilip Buildcon Ltd                      CC                 CRISIL A+      18196   Continues on
                                                                                  Rating Watch
                                                                                  With
                                                                                  Developing
                                                                                  Implications
Dilip Buildcon Ltd                      TL                 CRISIL A+      4323.1  Continues on
                                                                                  Rating Watch
                                                                                  With
                                                                                  Developing
                                                                                  Implications
Dilip Buildcon Ltd                      CC                 CRISIL A+      18196   Continues on
                                                                                  Rating Watch
                                                                                  With
                                                                                  Developing
                                                                                  Implications
Dilip Buildcon Ltd                      TL                 CRISIL A+      4323.1  Continues on
                                                                                  Rating Watch
                                                                                  With
                                                                                  Developing
                                                                                  Implications
Dilip Buildcon Ltd                      NCD                CRISIL A+      6000    Continues on
                                                                                  Rating Watch
                                                                                  With
                                                                                  Developing
                                                                                  Implications
Dobersun Products Pvt Ltd               CC                 CRISIL BB      30      Reaffirmed
Dobersun Products Pvt Ltd               LT Loan            CRISIL BB      15.5    Reaffirmed
Dobersun Products Pvt Ltd               Proposed LT Bk     CRISIL BB      23      Reaffirmed
                                        Loan Fac
Dobersun Products Pvt Ltd               Secured Overdraft  CRISIL BB      9       Reaffirmed
                                        against term
                                        deposits
Eastern Doors                           CC                 CRISIL B       15      Assigned
Eastern Doors                           TL                 CRISIL B       43.5    Assigned
Ekam Agro Pvt Ltd                       CC                 CRISIL B+      40      Reaffirmed
(Issuer Not Cooperating)
Ekam Agro Pvt Ltd                       TL                 CRISIL B+      110     Reaffirmed
(Issuer Not Cooperating)
Gulbrandsen Catalysts Pvt Ltd           CC                 CRISIL BBB+    5       Reaffirmed
Hitech Formulations Pvt Ltd             CC                 CRISIL B-      10      Reaffirmed
(Issuer Not Cooperating)
Hitech Formulations Pvt Ltd             Proposed LT Bk     CRISIL B-      8       Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Hitech Formulations Pvt Ltd             TL                 CRISIL B-      67      Reaffirmed
(Issuer Not Cooperating)
Lumino Industries Ltd                   CC                 CRISIL BBB     535.3   Withdrawal
M R T Signals Ltd                       CC                 CRISIL BBB+    70      Reaffirmed
M R T Signals Ltd                       Proposed BG        CRISIL BBB+    90      Reaffirmed
M R T Signals Ltd                       Overdraft          CRISIL BBB+    20      Reaffirmed
Madhya Bharat Phosphate Pvt Ltd         CC                 CRISIL BB+     200     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
(Issuer Not Cooperating)
Madhya Bharat Phosphate Pvt Ltd         Proposed LT Bk     CRISIL BB+     161     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
(Issuer Not Cooperating)
Monalisa Engicons                       CC                 CRISIL BB-     15      Reaffirmed
(Issuer Not Cooperating)
Neelay Industries                       CC                 CRISIL BB-     45      Assigned
Neelay Industries                       TL                 CRISIL BB-     85      Assigned
Onward Plastic Pvt Ltd                  TL                 CRISIL B+      82.3    Assigned
Onward Plastic Pvt Ltd                  CC                 CRISIL B+      31.5    Assigned
Onward Plastic Pvt Ltd                  Proposed CC Limit  CRISIL B+      6.2     Assigned
Priya Motors Pvt Ltd                    CC                 CRISIL BB-     70      Reaffirmed
(Issuer Not Cooperating)
Priya Motors Pvt Ltd                    Electronic Dealer  CRISIL BB-     10      Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
(Issuer Not Cooperating)
Purvanchal Agrico Pvt Ltd               CC                 CRISIL B       25      Reaffirmed
(Issuer Not Cooperating)
Purvanchal Agrico Pvt Ltd               LT Loan            CRISIL B       25      Reaffirmed
(Issuer Not Cooperating)
Purvanchal Agrico Pvt Ltd               Proposed LT Bk     CRISIL B       20      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Quilon Real Industries Pvt Ltd          CC                 CRISIL B+      45      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Quilon Real Industries Pvt Ltd          Proposed LT Bk     CRISIL B+      40      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Radha Industries Pvt Ltd                CC                 CRISIL BB+     90      Reaffirmed
(Issuer Not Cooperating)
Responsive Industries Ltd               CC                 CRISIL BBB+    1200    Downgraded
                                                                                  from CRISIL A-
Responsive Industries Ltd               External           CRISIL BBB+    1250    Downgraded
                                        Commercial                                from CRISIL A-
                                        Borrowings
Responsive Industries Ltd               Proposed LT Bk     CRISIL BBB+    2050    Downgraded
                                        Loan Fac                                  from CRISIL A-
Samay Project Services Pvt Ltd          CC                 CRISIL B+      6       Reaffirmed
(Issuer Not Cooperating)
Samay Project Services Pvt Ltd          Proposed LT Bk     CRISIL B+      16.5    Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Sangam Rice Pvt Ltd                     CC                 CRISIL B       55      Reaffirmed
(Issuer Not Cooperating)
Sangam Rice Pvt Ltd                     LT Loan            CRISIL B       5.5     Reaffirmed
(Issuer Not Cooperating)
Sangam Rice Pvt Ltd                     Proposed TL        CRISIL B       14.5    Reaffirmed
(Issuer Not Cooperating)
Sangam Rice Pvt Ltd                     Warehouse Receipts CRISIL B       110     Reaffirmed
(Issuer Not Cooperating)
Sugavaneswara Spinning Mills Pvt Ltd    CC                 CRISIL D       60      Reaffirmed
Sugavaneswara Spinning Mills Pvt Ltd    LT Bk Fac          CRISIL D       10.5    Reaffirmed
Sugavaneswara Spinning Mills Pvt Ltd    LT Loan            CRISIL D       65      Reaffirmed
Sugavaneswara Spinning Mills Pvt Ltd    WC TL              CRISIL D       12.5    Reaffirmed
Super Floorings Pvt Ltd                 Buyer`s Credit     CRISIL B+      65      Assigned
Super Floorings Pvt Ltd                 CC                 CRISIL B+      40      Assigned
Tritan Leather Works Pvt Ltd            Bill Discounting   CRISIL BBB     30      Assigned
Urvarak Abhikaran Neemuch Pvt Ltd       BG                 CRISIL D       35      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Urvarak Abhikaran Neemuch Pvt Ltd       CC                 CRISIL D       60      Downgraded
                                                                                  from CRISIL BB
Urvarak Abhikaran Neemuch Pvt Ltd       Proposed LT Bk     CRISIL D       67.5    Downgraded
                                        Loan Fac                                  from CRISIL BB
Vardhman Rice Exports Pvt Ltd           CC                 CRISIL B+      100     Reaffirmed
(Issuer Not Cooperating)
Vardhman Rice Exports Pvt Ltd           TL                 CRISIL B+      28.3    Reaffirmed
(Issuer Not Cooperating)
Vardhman Rice Exports Pvt Ltd           Warehouse Receipts CRISIL B+      21.7    Reaffirmed
(Issuer Not Cooperating)    
--------------------------------------------------------------------------------------------
$: 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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