October 10, 2019 / 9:50 AM / 2 months ago

CRISIL ratings for Indian debt instruments-Oct 10

    Oct 10 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of October 9, 2019.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Admach Auto Industries India Pvt Ltd    Bill Discounting   CRISIL A4+     30      Reaffirmed
Alkem Laboratories Ltd                  BG                 CRISIL A1+     250     Reaffirmed
Alkem Laboratories Ltd                  CP                 CRISIL A1+     5000    Reaffirmed
Alkem Laboratories Ltd                  CP                 CRISIL A1+     2000    Withdrawn
Araska Diamond Pvt Ltd                  Foreign            CRISIL A4      50      Reaffirmed
                                        Documentary Bills
                                        Purchase
Araska Diamond Pvt Ltd                  Packing Credit in  CRISIL A4      50      Reaffirmed
                                        Foreign Currency
ASK Automotive Pvt Ltd                  LOC & BG           CRISIL A1+     5       Reaffirmed
Bergwerff Organic India Pvt Ltd         ST Bk Fac          CRISIL A2+     50      Reassigned
Boon Education, Environment & Rural     BG                 CRISIL A4+     10      Migrated form
Development Society                                                               CRISIL A4+ 
(Issuer Not Cooperating)
Boon Education, Environment & Rural     Overdraft          CRISIL A4+     30      Migrated form
Development Society                                                               CRISIL A4+ 
(Issuer Not Cooperating)
Dewan Chand                             BG                 CRISIL A4+     65      Reaffirmed
Dharani Hi-Tech Projects Pvt Ltd        BG                 CRISIL A4+     15      Upgraded from
                                                                                  CRISIL A4
Elegant Collection                      BG                 CRISIL A2+     5       Reaffirmed
Elegant Collection                      Foreign Exchange   CRISIL A2+     20      Reaffirmed
                                        Forward
Elegant Collection                      Post Shipment      CRISIL A2+     230     Reaffirmed
                                        Credit
En En Electrical Engineers Pvt Ltd      BG                 CRISIL A4+     26      Assigned
Euro Panel Products Pvt Ltd             BG                 CRISIL A4+     10      Reaffirmed
Euro Panel Products Pvt Ltd             LOC                CRISIL A4+     200     Reaffirmed
Global Foods                            Packing Credit     CRISIL A4      300     Reaffirmed
Industrial Engineering Corporation      BG                 CRISIL A4+     10      Reaffirmed
International Solvents and Chemical Co  BG                 CRISIL A4+     50      Reaffirmed
International Solvents and Chemical Co  Inland/Import LOC  CRISIL A4+     10      Reaffirmed
Kenox Agro Industries Pvt Ltd           BG                 CRISIL A4+     2.5     Upgraded from
                                                                                  CRISIL A4
Kishoriji Exports                       Foreign Bill       CRISIL A4+     30      Reaffirmed
                                        Discounting
Kishoriji Exports                       Packing Credit     CRISIL A4+     70      Reaffirmed
Muthoot Fincorp Ltd                     CP                 CRISIL A1      15000   Reaffirmed
Nexo Industries Pvt Ltd                 BG                 CRISIL A3      70      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Nexo Industries Pvt Ltd                 LOC                CRISIL A3      101.8   Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
PE Engineers Pvt Ltd                    Overdraft          CRISIL A4+     30      Reaffirmed
Rajeev K                                BG                 CRISIL A4      20      Reaffirmed
Rallis India Ltd                        LOC#               CRISIL A1+     2365    Reaffirmed
# Interchangeable with other non-fund based facilities 
Rallis India Ltd                        CP                 CRISIL A1+     750     Reaffirmed
Rockeira Engineering LLP                BG                 CRISIL A4+     25      Assigned
Santosh Timber Trading Co. Ltd          LOC                CRISIL A4      145     Reaffirmed
SCM Garments Pvt Ltd                    LOC                CRISIL A2+     115     Reaffirmed
SCM Garments Pvt Ltd                    LOC & BG           CRISIL A2+     125     Reaffirmed
SCM Garments Pvt Ltd                    Packing Credit     CRISIL A2+     2888.5  Reaffirmed
SCM Garments Pvt Ltd                    Standby Export     CRISIL A2+     100     Reaffirmed
                                        Packing Credit
Shreno Ltd                              CP                 CRISIL A1      200     Reaffirmed
(Removed from 'Rating Watch with Developing Implications')
Shrijee Process Engineering Works Ltd   BG                 CRISIL A3      150     Reaffirmed
Shrijee Process Engineering Works Ltd   Packing Credit     CRISIL A3      60      Reaffirmed
SNS Technocorp Pvt Ltd                  LOC & BG           CRISIL A4+     175     Reaffirmed
SNS Technocorp Pvt Ltd                  Proposed ST Bk     CRISIL A4+     25      Reaffirmed
                                        Loan Fac
Soch Apparels Pvt Ltd                   Overdraft          CRISIL A3      20      Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Sonic Biochem Extractions Pvt Ltd       BG                 CRISIL A2      55      Reaffirmed
The Tata Power Co. Ltd                  LOC & BG           CRISIL A1+     43700   Reaffirmed
The Tata Power Co. Ltd                  LOC & BG#          CRISIL A1+     1900    Reaffirmed
#Fully Interchangeable with Letter of Credit, Buyers Credit, Short term loan, Purchase invoice
Discounting, Overdraft maximum upto Rs. 50 Crores, Foreign Currency Resident loan, Short Term
Derivatives/Foreign lines
The Tata Power Co. Ltd                  CP                 CRISIL A1+     70000   Reaffirmed
Thomas Cook India Ltd                   BG$$               CRISIL A1+     650     Reaffirmed
$$Fully interchangeable with letter of credit (LC)
Thomas Cook India Ltd                   BG                 CRISIL A1+     1230    Reaffirmed
Thomas Cook India Ltd                   LOC##              CRISIL A1+     2600    Reaffirmed
##Facility of Rs 150 crore fully interchangeable with bank guarantee (BG) and post-shipment
credit in foreign currency (PSFC) up to Rs 25 crore, facility of Rs 75 crore fully
interchangeable between LC and BG, facility of Rs 35 crore interchangeable with BG to the tune
Rs 15 crore
Thomas Cook India Ltd                   LOC                CRISIL A1+     100     Reaffirmed
Thomas Cook India Ltd                   Overdraft          CRISIL A1+     250     Reaffirmed
Thomas Cook India Ltd                   Overdraft@         CRISIL A1+     490     Reaffirmed
@Facility of Rs 49 crore interchangeable with LC of up to Rs 25 crore
Thomas Cook India Ltd                   ST Debt (Including CRISIL A1+     1000    Reaffirmed
                                        CP)                (Reaffirmed)
V R Constructions - Nellore             BG                 CRISIL A4      100     Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
VeeGee Industrial Enterprises Pvt Ltd   BG                 CRISIL A3+     174.5   Downgraded
                                                                                  from CRISIL A2
VeeGee Industrial Enterprises Pvt Ltd   LOC                CRISIL A3+     100     Downgraded
                                                                                  from CRISIL A2
Vikram Plasticizers (Prop. Vin          BG                 CRISIL A3+     7.5     Upgraded from
Plasticizers Pvt. Ltd.)                                                           CRISIL A3
Vikram Plasticizers (Prop. Vin          LOC                CRISIL A3+     100     Upgraded from
Plasticizers Pvt. Ltd.)                                                           CRISIL A3
Welspun Corp Ltd                        BG                 CRISIL A1+     12780   Reaffirmed
Welspun Corp Ltd                        LOC                CRISIL A1+     40840   Reaffirmed
Welspun Corp Ltd                        Proposed LOC & BG  CRISIL A1+     3560    Reaffirmed
Welspun Corp Ltd                        CP                 CRISIL A1+     5000    Reaffirmed


LONG TERM RATINGS:
-------------------
Aditya Birla Renewables Subsidiary Ltd  BG                 CRISIL AA      50      Reaffirmed
Aditya Birla Renewables Subsidiary Ltd  TL                 CRISIL AA      1606    Reaffirmed
Aditya Birla Renewables Utkal Ltd       TL                 CRISIL AA      205     Assigned
Admach Auto Industries India Pvt Ltd    CC                 CRISIL BB+     135     Reaffirmed
Admach Auto Industries India Pvt Ltd    LT Loan            CRISIL BB+     55      Reaffirmed
Alkem Laboratories Ltd                  CC*                CRISIL AA+     1000    Reaffirmed
*Includes Rs 15 crore export packing credit and pre-shipment credit limit
Alkem Laboratories Ltd                  Export Packing     CRISIL AA+     1800    Reaffirmed
                                        Credit@
@These limits are interchangeable with working capital demand loan
Alkem Laboratories Ltd                  Proposed LT Bk     CRISIL AA+     200     Assigned
                                        Loan Fac
Alkem Laboratories Ltd                  LOC#               CRISIL AA+     500     Assigned
#Letter of credit can be wholly utilised as cash credit limit
Alutop                                  CC                 CRISIL BB+     109     Reaffirmed
Alutop                                  Proposed LT Bk     CRISIL BB+     41      Reaffirmed
                                        Loan Fac
ASK Automotive Pvt Ltd                  CC                 CRISIL AA-     750     Reaffirmed
ASK Automotive Pvt Ltd                  TL                 CRISIL AA-     2722.5  Reaffirmed
ASK Automotive Pvt Ltd                  WC Fac             CRISIL AA-     162.5   Reaffirmed
Bergwerff Organic India Pvt Ltd         LT Loan            CRISIL A-      570     Reaffirmed
Bergwerff Organic India Pvt Ltd         WC Fac             CRISIL A-      1130    Reaffirmed
Birlasoft Ltd                           BG                 -              10      Withdrawn
(Removed from 'Rating Watch with Developing Implications')
Birlasoft Ltd                           WC Fac             -              860     Withdrawn
(Removed from 'Rating Watch with Developing Implications')
Boon Education, Environment & Rural     Proposed LT Bk     CRISIL BB+     83      Migrated form
Development Society                     Loan Fac                                  CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Boon Education, Environment & Rural     TL                 CRISIL BB+     27      Migrated form
Development Society                                                               CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Bundelkhand Enterprises Pvt Ltd         Drop Line          CRISIL BB-     17.5    Reaffirmed
                                        Overdraft Fac
Bundelkhand Enterprises Pvt Ltd         Electronic Dealer  CRISIL BB-     92.5    Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Bundelkhand Enterprises Pvt Ltd         Proposed LT Bk     CRISIL BB-     10      Reaffirmed
                                        Loan Fac
Dewan Chand                             CC/ Overdraft Fac  CRISIL BB      25      Reaffirmed
Dharani Hi-Tech Projects Pvt Ltd        Overdraft          CRISIL BB-     115     Upgraded from
                                                                                  CRISIL
                                                                                  B+/Stable
Durga Extraction Pvt Ltd                CC                 CRISIL BB-     50      Reaffirmed
Durga Extraction Pvt Ltd                Proposed LT Bk     CRISIL BB-     40      Reaffirmed
                                        Loan Fac
Durga Extraction Pvt Ltd                TL                 CRISIL BB-     20      Reaffirmed
Elegant Collection                      Export Packing     CRISIL A-      370     Reaffirmed
                                        Credit
Elegant Collection                      Proposed LT Bk     CRISIL A-      35      Reaffirmed
                                        Loan Fac
Elegant Collection                      Standby Line of    CRISIL A-      40      Reaffirmed
                                        Credit
En En Electrical Engineers Pvt Ltd      TL                 CRISIL BB-     74.9    Assigned
En En Electrical Engineers Pvt Ltd      Secured Overdraft  CRISIL BB-     27.5    Assigned
                                        Fac
En En Electrical Engineers Pvt Ltd      Proposed LT Bk     CRISIL BB-     21.6    Assigned
                                        Loan Fac
Euro Panel Products Pvt Ltd             CC                 CRISIL BB+     80      Reaffirmed
Euro Panel Products Pvt Ltd             LT Loan            CRISIL BB+     132     Reaffirmed
Hari Vegetable Products Pvt Ltd         CC                 CRISIL BB+     75      Migrated from
                                                                                  CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
HCL Technologies Ltd                    Corporate Credit   CCR AAA/Stable -       Renewed and
                                        Rating                                    Reaffirmed
Hgp Community Pvt Ltd                   Rupee TL           CRISIL A+      6500    Assigned
Hgp Community Pvt Ltd                   Lease Rental       CRISIL A+      6500    Assigned
                                        Discounting Loan
Hgp Community Pvt Ltd                   Proposed LT Bk     CRISIL A+      2000    Assigned
                                        Loan Fac
Hiranandani Properties Pvt Ltd          Proposed LT Bk     CRISIL A+      1000    Assigned
                                        Loan Fac
Indel Money Pvt Ltd                     CC                 CRISIL BBB-    275     Reaffirmed
Indel Money Pvt Ltd                     Proposed LT Bk     CRISIL BBB-    325     Reaffirmed
                                        Loan Fac
Industrial Engineering Corporation      CC                 CRISIL BB-     120     Reaffirmed
International Solvents and Chemical Co  CC                 CRISIL BB      30      Reaffirmed
Kenox Agro Industries Pvt Ltd           CC                 CRISIL BB-     70      Upgraded from
                                                                                  CRISIL
                                                                                  B+/Stable
Kenox Agro Industries Pvt Ltd           TL                 CRISIL BB-     27.5    Upgraded from
                                                                                  CRISIL
                                                                                  B+/Stable
Kishoriji Exports                       WC Fac             CRISIL BB      40      Reaffirmed
M Madhavaraya Prabhu                    CC                 CRISIL B+      270     Migrated from
                                                                                  CRISIL
                                                                                  BB-/Stable
Manna Industries Ltd                    Proposed LT Bk     CRISIL B+      75      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-/Stable
Manna Industries Ltd                    Secured Overdraft  CRISIL B+      220     Downgraded
                                        Fac                                       from CRISIL
                                                                                  BB-/Stable
Muthoot Fincorp Ltd                     CC & WC demand loanCRISIL A       73500   Reaffirmed
Muthoot Fincorp Ltd                     Proposed LT Bk     CRISIL A       185     Reaffirmed
                                        Loan Fac
Muthoot Fincorp Ltd                     TL                 CRISIL A       1625    Reaffirmed
Muthoot Fincorp Ltd                     NCDs               CRISIL A/Stable21.9    Reaffirmed
Muthoot Fincorp Ltd                     NCDs               CRISIL A/Stable3.5     Reaffirmed
Muthoot Fincorp Ltd                     NCDs               CRISIL A/Stable9.2     Reaffirmed
Muthoot Fincorp Ltd                     NCDs               CRISIL A/Stable5000    Reaffirmed
Muthoot Fincorp Ltd                     Subordinated Debt  CRISIL A/Stable355.9   Reaffirmed
Muthoot Fincorp Ltd                     Perpetual Bonds    CRISIL         1440    Reaffirmed
                                                           BBB+/Stable
Nexo Industries Pvt Ltd                 CC                 CRISIL BBB-    650     Migrated from
                                                                                  CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Nexo Industries Pvt Ltd                 LT Loan            CRISIL BBB-    28.2    Migrated from
                                                                                  CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Nexo Industries Pvt Ltd                 Standby Line of    CRISIL BBB-    50      Migrated from
                                        Credit                                    CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
PE Engineers Pvt Ltd                    Foreign Bill       CRISIL BB      10      Reaffirmed
                                        Discounting
PE Engineers Pvt Ltd                    Foreign LOC        CRISIL BB      10      Reaffirmed
PE Engineers Pvt Ltd                    Proposed LT Bk     CRISIL BB      30      Reaffirmed
                                        Loan Fac
Pioneer eServe Pvt Ltd                  TL                 -              200     Withdrawn
PMJ Gems and Jewellers Pvt Ltd          CC                 CRISIL BBB     250     Reaffirmed
Polaris Liquor Pvt Ltd                  CC                 CRISIL BB+     325     Revised from
                                                                                  CRISIL
                                                                                  BBB-/Stable
(Issuer Not Cooperating)
Polaris Liquor Pvt Ltd                  Proposed CC Limit  CRISIL BB+     80      Revised from
                                                                                  CRISIL
                                                                                  BBB-/Stable
(Issuer Not Cooperating)
Precision Infomatic (Madras) Pvt Ltd    BG                 -              20      Withdrawn
(Issuer Not Cooperating)
Precision Infomatic (Madras) Pvt Ltd    CC                 -              190     Withdrawn
(Issuer Not Cooperating)
Pretty Jewellery Pvt Ltd                Foreign            CRISIL D       50      Reaffirmed
                                        Documentary Bills
                                        Purchase
Pretty Jewellery Pvt Ltd                Packing Credit     CRISIL D       50      Reaffirmed
Pretty Jewellery Pvt Ltd                Proposed ST Bk     CRISIL D       53      Reaffirmed
                                        Loan Fac
R. K. Swarn Pvt Ltd                     Drop Line          CRISIL BB-     25      Reaffirmed
                                        Overdraft Fac
R. K. Swarn Pvt Ltd                     Inventory Funding  CRISIL BB-     100     Reaffirmed
                                        Fac
Radhamani Exports Pvt Ltd               Overdraft          CRISIL BBB-    60      Revised from
                                                                                  CRISIL
                                                                                  BBB-/Stable
(Issuer Not Cooperating)
Radhamani Textiles Pvt Ltd              CC                 CRISIL BB+     120     Revised from
                                                                                  CRISIL
                                                                                  BBB-/Stable
(Issuer Not Cooperating)
Radhamani Textiles Pvt Ltd              Packing Credit     CRISIL BB+     500     Revised from
                                                                                  CRISIL
                                                                                  BBB-/Stable
(Issuer Not Cooperating)
Rajeev K                                CC                 CRISIL B       40      Reaffirmed
Rajeev K                                Proposed LT Bk     CRISIL B       40      Reaffirmed
                                        Loan Fac
Rallis India Ltd                        CC*                CRISIL AA+     1505    Reaffirmed
*Interchangeable with other fund-based facilities 
Rallis India Ltd                        Rupee TL           CRISIL AA+     130     Reaffirmed
Rockeira Engineering LLP                Overdraft          CRISIL BB+     100     Assigned
Roma Builders Pvt Ltd                   Lease Rental       CRISIL A+      9950    Reaffirmed
                                        Discounting Loan
Roma Builders Pvt Ltd                   Loan Against       CRISIL A+      2800    Reaffirmed
                                        Property
Roma Builders Pvt Ltd                   Rupee TL           CRISIL A+      6000    Reaffirmed
Roma Builders Pvt Ltd                   Proposed LT Bk     CRISIL A+      6250    Reaffirmed
                                        Loan Fac
S.R.K. Fabrics                          CC                 CRISIL D       60      -
(Issuer Not Cooperating)
S.R.K. Fabrics                          Proposed LT Bk     CRISIL D       33      -
                                        Loan Fac
(Issuer Not Cooperating)
S.R.K. Fabrics                          TL                 CRISIL D       32      -
(Issuer Not Cooperating)
S.R.R. Impex                            CC                 CRISIL BB-     43      Reaffirmed
S.R.R. Impex                            Proposed CC Limit  CRISIL BB-     7.9     Reaffirmed
S.R.R. Impex                            TL                 CRISIL BB-     17.6    Reaffirmed
Santosh Timber Trading Co. Ltd          Overdraft          CRISIL B+      105     Reaffirmed
Sarda Dairy & Food Products Ltd         CC                 CRISIL BB-     60      Reaffirmed
Sarda Dairy & Food Products Ltd         TL                 CRISIL BB-     665     Reaffirmed
Sarda Dairy & Food Products Ltd         Proposed LT Bk     Withdrawn      256.2   Reaffirmed
                                        Loan Fac
SCM Garments Pvt Ltd                    LT Loan            CRISIL A-      120     Reaffirmed
SCM Garments Pvt Ltd                    Proposed LT Bk     CRISIL A-      510     Reaffirmed
                                        Loan Fac
SCM Garments Pvt Ltd                    TL                 CRISIL A-      369.5   Reaffirmed
Selvas Garments                         CC                 CRISIL BB-     65      Reaffirmed
Selvas Garments                         Proposed LT Bk     CRISIL BB-     2.3     Reaffirmed
                                        Loan Fac
Shanmukha Cotton Products               CC                 CRISIL B       50      -
(Issuer Not Cooperating)
Shanmukha Cotton Products               Proposed CC Limit  CRISIL B       12.5    -
(Issuer Not Cooperating)
Shanmukha Cotton Products               SME Credit         CRISIL B       2.5     -
(Issuer Not Cooperating)
Shivali Udyog India Ltd                 CC                 CRISIL B       31.5    -
(Issuer Not Cooperating)
Shivali Udyog India Ltd                 Proposed LT Bk     CRISIL B       212.3   -
                                        Loan Fac
(Issuer Not Cooperating)
Shivali Udyog India Ltd                 WC Demand Loan     CRISIL B       72      -
(Issuer Not Cooperating)
Shreno Ltd                              CC^                CRISIL A       150     Reaffirmed
(Removed from 'Rating Watch with Developing Implications')/^One way interchangeable from fund
based to non-fund based limits
Shreno Ltd                              CC*                CRISIL A       160     Reaffirmed
(Removed from 'Rating Watch with Developing Implications')/*Interchangeable with non-fund based
limits
Shreno Ltd                              Proposed LT Bk     CRISIL A       1340    Reaffirmed
                                        Loan Fac
(Removed from 'Rating Watch with Developing Implications')
Shreno Ltd                              WC Demand Loan     CRISIL A       200     Reaffirmed
(Removed from 'Rating Watch with Developing Implications')
Shreno Ltd                              WC Fac             CRISIL A       200     Reaffirmed
(Removed from 'Rating Watch with Developing Implications')
Shrijee Process Engineering Works Ltd   CC                 CRISIL BBB-    35      Reaffirmed
Shrijee Process Engineering Works Ltd   Proposed LT Bk     CRISIL BBB-    5       Reaffirmed
                                        Loan Fac
Soch Apparels Pvt Ltd                   CC                 CRISIL BBB-    550     Downgraded
                                                                                  from CRISIL
                                                                                  BBB/Stable
Soch Apparels Pvt Ltd                   TL                 CRISIL BBB-    418.7   Downgraded
                                                                                  from CRISIL
                                                                                  BBB/Stable
Sonic Biochem Extractions Pvt Ltd       CC                 CRISIL BBB+    145     Reaffirmed
Sood Steel Industries                   CC                 CRISIL BB      75      Migrated from
                                                                                  CRISIL
                                                                                  B+/Stable
(Issuer Not Cooperating)
SP Accure Labs Pvt Ltd                  CC                 CRISIL B       75      Upgraded from
                                                                                  CRISIL
                                                                                  B-/Stable
SP Accure Labs Pvt Ltd                  LT Loan            CRISIL B       100     Upgraded from
                                                                                  CRISIL
                                                                                  B-/Stable
Sri Rama Poultry Feeds                  CC                 CRISIL BB-     60      Assigned
Sri Rama Poultry Feeds                  TL                 CRISIL BB-     7.5     Assigned
Steel Centre - Bokaro                   CC                 CRISIL BB      90      Reaffirmed
Steel Centre - Bokaro                   Proposed LT Bk     CRISIL BB      10      Reaffirmed
                                        Loan Fac
Surya Alloy Industries Ltd              Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
The Tata Power Co. Ltd                  CC & WC demand loanCRISIL AA-     19560   Reaffirmed
The Tata Power Co. Ltd                  Proposed CC Limit  CRISIL AA-     95.9    Reaffirmed
The Tata Power Co. Ltd                  Proposed LT Bk     CRISIL AA-     20450   Reaffirmed
                                        Loan Fac
The Tata Power Co. Ltd                  Rupee TL           CRISIL AA-     32405.6 Reaffirmed
The Tata Power Co. Ltd                  TL                 CRISIL AA-     48892   Reaffirmed
The Tata Power Co. Ltd                  Subordinated NCDs  CRISIL         15000   Reaffirmed
                                                           AA-/Positive
The Tata Power Co. Ltd                  NCD                CRISIL         4820    Reaffirmed
                                                           AA-/Positive
The Tata Power Co. Ltd                  Perpetual NCD      CRISIL         15000   Reaffirmed
                                                           AA-/Positive
Thomas Cook India Ltd                   Corporate Credit   CCR AA-/Stable -       Assigned
                                        Rating
Thomas Cook India Ltd                   CC**               CRISIL AA-     650     Reaffirmed
**Fully interchangeable with working capital demand loan (WCDL) and Letter of credit
Thomas Cook India Ltd                   Overdraft@@        CRISIL AA-     1400    Reaffirmed
@@Facility of Rs 15 crore interchangeable with WCDL of up to Rs 12 crore, facility of Rs 75
crore fully interchangeable between LC and BG, facility of Rs 50 crore fully interchangeable
with WCDL and Short term loan (STL), Rs 30 crore with bank guarantee and Rs 10 crore with LC
Thomas Cook India Ltd                   Proposed LT Bk     CRISIL AA-     20      Reaffirmed
                                        Loan Fac
V R Constructions - Nellore             CC                 CRISIL B+      47.5    Migrated from
                                                                                  CRISIL
                                                                                  B+/Stable
(Issuer Not Cooperating)
V R Constructions - Nellore             Proposed LT Bk     CRISIL B+      2.5     Migrated from
                                        Loan Fac                                  CRISIL
                                                                                  B+/Stable
(Issuer Not Cooperating)
VEE GEE Auto Components Pvt Ltd         LT Loan            CRISIL BB+     150     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-/Stable
VEE GEE Auto Components Pvt Ltd         WC Demand Loan     CRISIL BB+     100     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-/Stable
VeeGee Industrial Enterprises Pvt Ltd   Bill Discounting   CRISIL BBB     750     Downgraded
                                                                                  from CRISIL
                                                                                  BBB+/Stable
VeeGee Industrial Enterprises Pvt Ltd   CC                 CRISIL BBB     450     Downgraded
                                                                                  from CRISIL
                                                                                  BBB+/Stable
VeeGee Industrial Enterprises Pvt Ltd   LT Loan            CRISIL BBB     570.5   Downgraded
                                                                                  from CRISIL
                                                                                  BBB+/Stable
VeeGee Industrial Enterprises Pvt Ltd   WC Demand Loan     CRISIL BBB     150     Downgraded
                                                                                  from CRISIL
                                                                                  BBB+/Stable
Vikram Plasticizers (Prop. Vin          CC                 CRISIL BBB     125     Upgraded from
Plasticizers Pvt. Ltd.)                                                           CRISIL
                                                                                  BBB-/Stable
Vikram Plasticizers (Prop. Vin          TL                 CRISIL BBB     15      Upgraded from
Plasticizers Pvt. Ltd.)                                                           CRISIL
                                                                                  BBB-/Stable
Welspun Corp Ltd                        CC                 CRISIL AA-     700     Reaffirmed
(Outlook revised from Stable)
Welspun Corp Ltd                        External           CRISIL AA-     370     Reaffirmed
                                        Commercial
                                        Borrowings
(Outlook revised from Stable)
Welspun Corp Ltd                        NCD                CRISIL         9900    Reaffirmed
                                                           AA-/Positive

--------------------------------------------------------------------------------------------
$: 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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  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below