for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

CRISIL ratings for Indian debt instruments-Oct 14

   Oct 14  - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of October 13, 2020.


COMPANY                                INSTRUMENT        RATING        AMOUNT MOVEMENT
                                                                      (RS.MLN)
------                                 ----------        ------        -----  ---------
SHORT TERM RATINGS:
-------------------
Amar Brothers Global Pvt Ltd           Export Packing    CRISIL A4+    100    Reaffirmed
                                       Credit
Amar Brothers Global Pvt Ltd           Foreign Bill      CRISIL A4+    80     Reaffirmed
                                       Purchase
Amar Brothers Global Pvt Ltd           Inland/Import LOC CRISIL A4+    80     Reaffirmed
Aqua Plumbings Pvt Ltd                 LOC               CRISIL A3+    150    Reaffirmed
Bala Industries                        BG                CRISIL A4+    40     Reaffirmed
Bambino Pasta Food Industries Pvt Ltd  LOC               CRISIL A3     10     Reaffirmed
BSBK Pvt Ltd                           BG                CRISIL A4+    944.6  -
(Downgraded from 'CRISIL A3')
BSBK Pvt Ltd                           LOC               CRISIL A4+    20     -
(Downgraded from 'CRISIL A3')
Centum Electronics Ltd                 LOC & BG          CRISIL A3     1967   Reaffirmed
Centum Electronics Ltd                 Packing Credit in CRISIL A3     200    Reaffirmed
                                       Foreign Currency
Crystal Crop Protection Ltd            LOC               CRISIL A1     3130   Reaffirmed
Desert Adventures Tourism L.L.C        Standby LOC^      CRISIL A1(CE) 930    -
(*Standby letter of credit facility of USD14 million. Includes sublimit of line of credit for
short-term loan. Facility is guaranteed by Thomas Cook (India) Ltd.) 
Diaexports Corporation                 Post Shipment     CRISIL A4+    50     Reaffirmed
                                       Credit
Diaexports Corporation                 Proposed ST Bk    CRISIL A4+    40     Reaffirmed
                                       Loan Fac
Diana Buildwell Pvt Ltd                BG                CRISIL A4+    200    Reaffirmed
(Placed on 'Rating Watch with Negative Implications')
Esstee Exports                         Foreign Bill      CRISIL A4+    50     Reaffirmed
                                       Discounting
Esstee Exports                         Packing Credit in CRISIL A4+    150    Reaffirmed
                                       Foreign Currency
Hussain Sheth Enterprise               BG                CRISIL A4+    7.5    Reaffirmed
Jumbo Bag Ltd                          BG                CRISIL A4+    74     Reaffirmed
Jumbo Bag Ltd                          Foreign Exchange  CRISIL A4+    8      Reaffirmed
                                       Forward
Jumbo Bag Ltd                          LOC               CRISIL A4+    80     Reaffirmed
Kalinga Commercial Corporation Ltd     BG                CRISIL A3     650    Reaffirmed
Kaveri Infraprojects Pvt Ltd           BG                CRISIL A3     350    -
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING')
Kaveri Infraprojects Pvt Ltd           Proposed BG       CRISIL A3     150    -
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING')
Lubrizol India Pvt Ltd                 LOC & BG          CRISIL A1+    130    Reaffirmed
Madras Engineering Industries Pvt Ltd  BG                CRISIL A1     11     Reaffirmed
Madras Engineering Industries Pvt Ltd  LOC               CRISIL A1     15     Reaffirmed
Madras Engineering Industries Pvt Ltd  Packing Credit    CRISIL A1     550    Reaffirmed
                                       (pre-shipment credit)*
(* Segregated into two limits as (1) Rs. 25 Crores and (2) Rs. 30 Crores.
.Limit (1) Includes sublimit of Rs. 5 Crores for Overdraft Facility, Rs.15 Crores for Short Term
Loans,
 Rs. 5 Crores for Short Term loans (MSME), Rs. 25 Crores for Financial Guarantees / Standby
Letter of Credit (Trade), Rs. 25 Crores for Export Financing, Rs. 25 Crores for Bonds &
Guarantees, Rs. 25 Crores for import Letter of Credit (unsecured),  Rs. 25 Crores for Export
Bills Discounting.    
Limit (2) Includes sublimit of Rs. 30 Crores for Export Bills Discounting and Rs. 30 Crores for
Export Financing.) 
Paramount Industries                   BG                CRISIL A4+    40     Reaffirmed
Parth Papers Llp                       BG                CRISIL A4+    10     Reaffirmed
Rajdeep Buildcon Pvt Ltd               BG                CRISIL A4     3090   Reaffirmed
(Placed on 'Rating Watch with Negative Implications')
Rajdeep Buildcon Pvt Ltd               LOC               CRISIL A4     200    -
(Placed on 'Rating Watch with Negative Implications')
Resonance Specialties Ltd              BG                CRISIL A4+    10     -
(Placed on 'Rating Watch with Developing Implications')
Resonance Specialties Ltd              Inland/Import LOC CRISIL A4+    30     -
(Placed on 'Rating Watch with Developing Implications')
Samudra Shipyard Pvt Ltd               BG                CRISIL A4     40     Reaffirmed
Samudra Shipyard Pvt Ltd               BG                CRISIL A4     40     Reaffirmed
Saraca Laboratories Ltd                BG                CRISIL A2     10     Reaffirmed
Saraca Laboratories Ltd                LOC               CRISIL A2     250    Reaffirmed
Seshsayi Foods Pvt Ltd               Letter Of Guarantee CRISIL A3     4.8    Reaffirmed
Seshsayi Foods Pvt Ltd                 LOC               CRISIL A3     3      Reaffirmed
SGR (777) Foods Pvt Ltd                ST Loan           CRISIL A4     20     -
(Migrated from 'CRISIL A4 ISSUER NOT COOPERATING')
Shogini Technoarts Pvt Ltd             LOC               CRISIL A4+    250    Reaffirmed
Shyam Ferrous Ltd                      BG                CRISIL A3     10     Reaffirmed
Sikka Engineering Company              BG                CRISIL A4+    73     Reaffirmed
Simpolo Vitrified Pvt Ltd              BG                CRISIL A2+    170    Reaffirmed
SOTC Travel Ltd                        LOC^              CRISIL A1     215    Reassigned
(^ Fully interchangeable with bank guarantee (BG))
Specialty Polyfilms India Pvt Ltd      Foreign Exchange  CRISIL A4+    4.9    Reaffirmed
                                       Forward
Specialty Polyfilms India Pvt Ltd      LOC               CRISIL A4+    7.5    Reaffirmed
Supreme Offshore Construction And      Foreign Exchange  CRISIL A4+    80     -
Technical Services Ltd                 Forward
(Upgraded from 'CRISIL A4')
Supreme Offshore Construction And      Letter Of Guarantee CRISIL A4+  210    -
Technical Services Ltd
(Upgraded from 'CRISIL A4')
TC Tours Ltd                           BG                CRISIL A1     550    -
(Downgraded from 'CRISIL A1+(CE)')
Thomas Cook India Ltd                  BG                CRISIL A1     830    -
(Downgraded from 'CRISIL A1+')
Thomas Cook India Ltd                  BG$               CRISIL A1     150    -

(Downgraded from 'CRISIL A1+'. 
$ Interchangeable with overdraft (OD) to the extent of Rs 5 crore)
Thomas Cook India Ltd                  BG*               CRISIL A1     300    -
(*Downgraded from 'CRISIL A1+',Interchangeable with letters of credit (LC) to the extent of Rs
20 crore)
Thomas Cook India Ltd                  LOC##             CRISIL A1     550    -
(Downgraded from 'CRISIL A1+'.
## Fully interchangeable with bank guarantee (BG))
Thomas Cook India Ltd                  Overdraft         CRISIL A1     650    -
(Downgraded from 'CRISIL A1+')
Thomas Cook India Ltd                  Overdraft         CRISIL A1     490    -
(Downgraded from 'CRISIL A1+')
Thomas Cook India Ltd                  CP                CRISIL A1     500    -
(Downgraded from 'CRISIL A1+')
Tirumala Seven Hills Pvt Ltd           Non-FBL           CRISIL A4+    220    Reaffirmed
Tirumala Seven Hills Pvt Ltd           Non-FBL           CRISIL A4+    220    Reaffirmed
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING)
Transrail Lighting Ltd                 Non-FBL           CRISIL A2+   32783.1 Reaffirmed
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed)
 

MEDIUM TERM RATINGS:
-------------------
Paranjape Schemes (Construction) Ltd   FD                FC            550    -
(ISSUER NOT COOPERATING; Revised from 'FB/Stable ISSUER NOT COOPERATING')
 

LONG TERM RATINGS:
-------------------
Amar Brothers Global Pvt Ltd           Proposed TL       CRISIL        9      Reaffirmed
                                                         BB+/Stable
Amar Brothers Global Pvt Ltd           Standby Line of   CRISIL        36     Reaffirmed
                                       Credit            BB+/Stable
Ameya Logistics Pvt Ltd                Corporate Credit  CCR A/Stable  -      Reaffirmed
                                       Rating  
Aqua Plumbings Pvt Ltd                 CC                CRISIL        400    Reaffirmed
                                                         BBB/Stable
Aqua Plumbings Pvt Ltd                 Proposed WC Fac   CRISIL        4.8    Assigned
                                                         BBB/Stable
Bala Industries                        Bill Discounting  CRISIL        50     Reaffirmed
                                                         BB-/Stable
Bala Industries                        CC                CRISIL        25     Reaffirmed
                                                         BB-/Stable
Bambino Pasta Food Industries Pvt Ltd  CC                CRISIL        210    Reaffirmed
                                                         BBB-/Stable
(Outlook revised from 'Negative' and rating reaffirmed)
Bambino Pasta Food Industries Pvt Ltd  Proposed LT Bk    CRISIL        33.6   Reaffirmed
                                       Loan Fac          BBB-/Stable
(Outlook revised from 'Negative' and rating reaffirmed)
Bambino Pasta Food Industries Pvt Ltd  Standby LOC       CRISIL        25     Reaffirmed
                                                         BBB-/Stable
(Outlook revised from 'Negative' and rating reaffirmed)
Bambino Pasta Food Industries Pvt Ltd  TL                CRISIL        471.4  Reaffirmed
                                                         BBB-/Stable
(Outlook revised from 'Negative' and rating reaffirmed)
Bankeybihari Plywood Industries Pvt Ltd CC               CRISIL        80     Reaffirmed
                                                         BB-/Stable
Bankeybihari Plywood Industries Pvt Ltd Proposed LT Bk   CRISIL        4.1    Reaffirmed
                                       Loan Fac          BB-/Stable
Bankeybihari Plywood Industries Pvt Ltd WC Demand Loan   CRISIL        15.9   Assigned
                                                         BB-/Stable
Bansi Mall Management Company Pvt Ltd  LT Loan           CRISIL B-     2500   -
(Downgraded from 'CRISIL B+/Negative'; Placed on 'Rating Watch with Developing Implications')
Banwari Aromas Pvt Ltd                 CC                CRISIL        40     Reaffirmed
                                                         BB/Stable
Banwari Aromas Pvt Ltd                 Export Packing    CRISIL        60     Reaffirmed
                                       Credit            BB/Stable
Blackwood Developers Pvt Ltd           TL                CRISIL        1100   Reaffirmed
                                                         BBB/Negative
Boon Electric Pvt Ltd                  CC                CRISIL        14.5   Reaffirmed
                                                         B/Stable
Boon Electric Pvt Ltd                  Proposed LT Bk    CRISIL        144.5  Reaffirmed
                                       Loan Fac          B/Stable
Boon Electric Pvt Ltd                  TL                CRISIL        41     Reaffirmed
                                                         B/Stable
Bravo Sponge Iron Pvt Ltd              Rating Advisory   -             -      -
(CRISIL vide its publication dated October 09, 2020 highlighted the aspect of non-co-operation
by Bravo Sponge Iron Private Limited)
BSBK Pvt Ltd                           CC                CRISIL        295    -
                                                         BB+/Negative
(Downgraded from 'CRISIL BBB-/Stable')
BSBK Pvt Ltd                           LT Loan           CRISIL        160    -
                                                         BB+/Negative
(Downgraded from 'CRISIL BBB-/Stable')
BSBK Pvt Ltd                           Proposed FB Bk    CRISIL        225.9  -
                                       Limits            BB+/Negative
(Downgraded from 'CRISIL BBB-/Stable')
BSBK Pvt Ltd                           WC Demand Loan    CRISIL        19.5   -
                                                         BB+/Negative
(Downgraded from 'CRISIL BBB-/Stable')
Centum Electronics Ltd                 CC                CRISIL        410    Reaffirmed
                                                         BBB-/Stable
Centum Electronics Ltd                 Cash TL           CRISIL        240    Reaffirmed
                                                         BBB-/Stable
Centum Electronics Ltd                 Export Packing    CRISIL        750    Reaffirmed
                                       Credit            BBB-/Stable
Centum Electronics Ltd                 WC Demand Loan    CRISIL        430    Reaffirmed
                                                         BBB-/Stable
Conc Shade Constructions Pvt Ltd       CC                CRISIL        73.5   Reaffirmed
                                                         B+/Stable
Conc Shade Constructions Pvt Ltd       Proposed LT Bk    CRISIL        1.5    Reaffirmed
                                       Loan Fac          B+/Stable
Conc Shade Constructions Pvt Ltd       Secured Overdraft CRISIL        70     Assigned
                                       Fac               B+/Stable
Conc Shade Constructions Pvt Ltd       CC                CRISIL        73.5   Reaffirmed
                                                         B+/Stable
Conc Shade Constructions Pvt Ltd       Proposed LT Bk    CRISIL        1.5    Reaffirmed
                                       Loan Fac          B+/Stable
Conc Shade Constructions Pvt Ltd       Secured Overdraft CRISIL        70     Assigned
                                       Fac               B+/Stable
Crystal Crop Protection Ltd            CC                CRISIL        2500   Reaffirmed
                                                         A/Negative
Crystal Crop Protection Ltd            Proposed FB Bk    CRISIL        870    Reaffirmed
                                       Limits            A/Negative
CSJ Infrastructure Pvt Ltd             Lease Rental      CRISIL        12990  -
                                       Discounting Loan  A-/Negative
CSJ Infrastructure Pvt Ltd             NCD               CRISIL        82.3   Reaffirmed
                                                         A-/Negative
Diana Buildwell Pvt Ltd                TL                CRISIL BB+    1500   Reaffirmed
(Placed on 'Rating Watch with Negative Implications')
Eingur Wind Energy Pvt Ltd             CC                CRISIL        20     Assigned
                                                         B+/Stable
Eingur Wind Energy Pvt Ltd             Proposed LT Bk    CRISIL        10     Assigned
                                       Loan Fac          B+/Stable
Esstee Exports                         Cash TL           CRISIL        20     Reaffirmed
                                                         BB+/Stable
Golden Vats Pvt Ltd                    CC                CRISIL        350    Reaffirmed
                                                         BBB-/Stable
Golden Vats Pvt Ltd                    Proposed LT Bk    CRISIL        50     Reaffirmed
                                       Loan Fac          BBB-/Stable
Hussain Sheth Enterprise               CC                CRISIL        50     Reaffirmed
                                                         BB-/Stable
Hussain Sheth Enterprise               Proposed LT Bk    CRISIL        42.5   Reaffirmed
                                       Loan Fac          BB-/Stable
Indip Industrial Parks (Vizag) Pvt Ltd LT Loan           CRISIL        750    Reaffirmed
                                                         BBB/Stable
Indip Industrial Parks (Vizag) Pvt Ltd Proposed LT Bk    CRISIL        750    Reaffirmed
                                       Loan Fac          BBB/Stable
Indore Treasure Island Pvt Ltd         TL                CRISIL        1650   -
                                                         BBB+/Negative
(Downgraded from 'CRISIL A-/Negative')
Island Star Mall Developers Pvt Ltd    Overdraft         CRISIL        750    Reaffirmed
                                                         A/Negative
Island Star Mall Developers Pvt Ltd    TL                CRISIL        4800   Reaffirmed
                                                         A/Negative
Janhitkari Sewa Samiti                 Proposed FB Bk    CRISIL        10     Assigned
                                       Limits            B+/Stable
                                                         Assigned; Suspension Revoked)
Jay Jagdamba Forgings Pvt Ltd          BG                -             2.5    Withdrawn
Jay Jagdamba Forgings Pvt Ltd          CC                -             50     Withdrawn
Jay Jagdamba Forgings Pvt Ltd          TL                -             160    Withdrawn
Jay Jagdamba Forgings Pvt Ltd          BG                -             2.5    Withdrawn
Jay Jagdamba Forgings Pvt Ltd          CC                -             50     Withdrawn
Jay Jagdamba Forgings Pvt Ltd          TL                -             160    Withdrawn
Jumbo Bag Ltd                          CC                CRISIL        345    Reaffirmed
                                                         BB/Stable
Jumbo Bag Ltd                          Foreign Bill      CRISIL        82.5   Reaffirmed
                                       Discounting       BB/Stable
Jumbo Bag Ltd                          WC Demand Loan    CRISIL        75.5   Reaffirmed
                                                         BB/Stable
Kalinga Commercial Corporation Ltd     CC                CRISIL        650    Reaffirmed
                                                         BBB-/Stable
Kalinga Commercial Corporation Ltd     Funded Interest TL CRISIL       137.7  Reaffirmed
                                                         BBB-/Stable
Kalinga Commercial Corporation Ltd     Proposed WC Fac   CRISIL        176    Reaffirmed
                                                         BBB-/Stable
Kalinga Commercial Corporation Ltd     WC TL             CRISIL        86.3   Assigned
                                                         BBB-/Stable
Kamson Healthcare Pvt Ltd              Overdraft         -             5      Withdrawn
(Rating reaffirmed and Withdrawn)
Kamson Healthcare Pvt Ltd              TL                -             101    Withdrawn
(Rating reaffirmed and Withdrawn)
Kaveri Infraprojects Pvt Ltd           CC                CRISIL        100    -
                                                         BBB-/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
Kaveri Infraprojects Pvt Ltd           Proposed CC Limit CRISIL        50     -
                                                         BBB-/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
Kaveri Infraprojects Pvt Ltd           TL                CRISIL        20     -
                                                         BBB-/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
Kent Industries                        Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Kunnath Gold and Diamond               CC                CRISIL        80     Reaffirmed
                                                         B/Stable
Lubrizol India Pvt Ltd                 CC                CRISIL        30     Reaffirmed
                                                         AA-/Stable
Madras Engineering Industries Pvt Ltd  CC^               CRISIL        250    Reaffirmed
                                                         A/Negative
(^Includes sublimit of Rs 8 Crores for Inland Bills Discounting (IBD), Rs 5 Crores for Export
Packing Credit (EPC) and Rs. 4Crores of Foreign Bill Discounting (FBD). Also 100% two-way
interchangeability between Fund Based Working Capital limits (FBWC) permitted) 
Madras Engineering Industries Pvt Ltd  Corporate Loan    CRISIL        73     Reaffirmed
                                                         A/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Madras Engineering Industries Pvt Ltd  Proposed LT Bk    CRISIL        244.1  -
                                       Loan Fac          A/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Mehta Dairies                          Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Muthoot Capital Services Ltd           Northern Arc 2020 CRISIL AA (SO)-      Final rating
                                       2W Tribbiani -
                                       Series A1 (b) PTCs
(Converted from Provisional Rating to Final rating)
Muthoot Capital Services Ltd           Northern Arc 2020 CRISIL AAA (SO-      Final rating
                                       2W Tribbiani -
                                       Series A1 (a) PTCs
(Converted from Provisional Rating to Final rating)
Neptunus Power Plant Services Pvt Ltd  CC                -             180    Withdrawn
(Rating reaffirmed and Withdrawn)
Neptunus Power Plant Services Pvt Ltd  Credit Limit Under  -           36     Withdrawn
                                       Gold Card
(Rating reaffirmed and Withdrawn)
Neptunus Power Plant Services Pvt Ltd  Foreign Exchange  -             46.8   Withdrawn
                                       Forward
(Rating reaffirmed and Withdrawn)
Neptunus Power Plant Services Pvt Ltd  Proposed LT Bk    -             37.2   Withdrawn
                                       Loan Fac
(Rating reaffirmed and Withdrawn)
Neptunus Power Plant Services Pvt Ltd  Standby Line of   -             50     Withdrawn
                                       Credit
(Rating reaffirmed and Withdrawn)
Pallazzio Hotels and Leisure Ltd       Overdraft         CRISIL        250    Reaffirmed
                                                         A-/Negative
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed)
Pallazzio Hotels and Leisure Ltd       TL*               CRISIL        2146.8 Reaffirmed
                                                         A-/Negative
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed. 
*Includes sublimit of Rs 50 crore of overdraft facility)
Pallazzio Hotels and Leisure Ltd       TL                CRISIL        2634.4 Reaffirmed
                                                         A-/Negative
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed)
Paramount Industries                   Bill Discounting  CRISIL        40     Reaffirmed
                                                         BB-/Stable
Paramount Industries                   CC                CRISIL        20     Reaffirmed
                                                         BB-/Stable
Paranjape Schemes (Construction) Ltd   CC                CRISIL C      80     -
(Issuer Not Cooperating)
Paranjape Schemes (Construction) Ltd   Proposed LT Bk    CRISIL C      70     -
                                       Loan Fac
(Issuer Not Cooperating)
Paranjape Schemes (Construction) Ltd   TL                CRISIL C      300    -
(Issuer Not Cooperating)
Paranjape Schemes (Construction) Ltd   NCD               CRISIL C      1750   -
(ISSUER NOT COOPERATING; Revised from 'CRISIL B/Stable ISSUER NOT COOPERATING')
Parth Papers Llp                       CC                CRISIL        80     Reaffirmed
                                                         BB/Stable
Parth Papers Llp                       Proposed LT Bk    CRISIL        16.1   Reaffirmed
                                       Loan Fac          BB/Stable
Parth Papers Llp                       TL                CRISIL        57     Reaffirmed
                                                         BB/Stable
Phoenix Mills Ltd                      Overdraft*        CRISIL        650    Reaffirmed
                                                         A+/Negative
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed. 
*Sublimit of term loan)
Phoenix Mills Ltd                      TL                CRISIL        3350   Reaffirmed
                                                         A+/Negative
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed)
Radhey Narayan Industries Pvt Ltd      CC                CRISIL        14     Reaffirmed
                                                         B-/Stable
Radhey Narayan Industries Pvt Ltd      LT Loan           CRISIL        48.5   Reaffirmed
                                                         B-/Stable
Rajdeep Buildcon Pvt Ltd               CC                CRISIL B      610    -
(Downgraded from 'CRISIL BB-/Negative'; Placed on 'Rating Watch with Negative Implications')
Resonance Specialties Ltd              CC                CRISIL BB+    34     -
(Upgraded from 'CRISIL BB/Stable'; Placed on 'Rating Watch with Developing Implications')
Resonance Specialties Ltd              Proposed LT Bk    CRISIL BB+    46     -
                                       Loan Fac
(Upgraded from 'CRISIL BB/Stable'; Placed on 'Rating Watch with Developing Implications')
Samudra Shipyard Pvt Ltd               CC                CRISIL        35     Reaffirmed
                                                         B+/Stable
Samudra Shipyard Pvt Ltd               Proposed CC Limit CRISIL        7.5    Reaffirmed
                                                         B+/Stable
Samudra Shipyard Pvt Ltd               CC                CRISIL        35     Reaffirmed
                                                         B+/Stable
Samudra Shipyard Pvt Ltd               Proposed CC Limit CRISIL        7.5    Reaffirmed
                                                         B+/Stable
Saraca Laboratories Ltd                Bill Discounting* CRISIL        25     Reaffirmed
                                                         BBB+/Negative
(Outlook revised from 'Stable' and rating reaffirmed. . 
*Fully interchangeable among cash credit, export packing credit, and bill discounting limits)
Saraca Laboratories Ltd                CC*               CRISIL        150    Reaffirmed
                                                         BBB+/Negative
(Outlook revised from 'Stable' and rating reaffirmed.
*Fully interchangeable among cash credit, export packing credit, and bill discounting limits)
Saraca Laboratories Ltd                Export Packing    CRISIL        225    Reaffirmed
                                       Credit*           BBB+/Negative
(Outlook revised from 'Stable' and rating reaffirmed.
*Fully interchangeable among cash credit, export packing credit, and bill discounting limits)
Saraca Laboratories Ltd                Standby Line of   CRISIL        50     Reaffirmed
                                       Credit            BBB+/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Seshsayi Foods Pvt Ltd                 CC                CRISIL        300    Reaffirmed
                                                         BBB-/Stable
(Outlook revised from 'Negative' and rating reaffirmed)
Seshsayi Foods Pvt Ltd                 Proposed LT Bk    CRISIL        332.2  Reaffirmed
                                       Loan Fac          BBB-/Stable
SGR (777) Foods Pvt Ltd                Cash TL           CRISIL        7.9    -
                                                         B+/Stable
(Migrated from 'CRISIL B/Stable ISSUER NOT COOPERATING')
SGR (777) Foods Pvt Ltd                Secured Overdraft CRISIL        50     -
                                       Fac               B+/Stable
(Migrated from 'CRISIL B/Stable ISSUER NOT COOPERATING')
Shogini Technoarts Pvt Ltd             CC                CRISIL        280    Reaffirmed
                                                         BB+/Stable
Shogini Technoarts Pvt Ltd             Proposed LT Bk    CRISIL        2.5    Reaffirmed
                                       Loan Fac          BB+/Stable
Shogini Technoarts Pvt Ltd             TL                CRISIL        307.5  Reaffirmed
                                                         BB+/Stable
Shyam Ferrous Ltd                      CC                CRISIL        191.5  Reaffirmed
                                                         BBB-/Stable
Shyam Ferrous Ltd                      TL                CRISIL        53.1   Reaffirmed
                                                         BBB-/Stable
Sikka Engineering Company              Overdraft         CRISIL        47     Reaffirmed
                                                         BB/Stable
Simpolo Vitrified Pvt Ltd              CC                CRISIL        1500   Reaffirmed
                                                         A-/Stable
Simpolo Vitrified Pvt Ltd              Proposed LT Bk    CRISIL        25.9   Reaffirmed
                                       Loan Fac          A-/Stable
Simpolo Vitrified Pvt Ltd              TL                CRISIL        1084.3 Reaffirmed
                                                         A-/Stable
Sims Ceramic Pvt Ltd                   BG                -             80     Withdrawn
(Rating reaffirmed and Withdrawn)
Sims Ceramic Pvt Ltd                   CC                -             800    Withdrawn
(Rating reaffirmed and Withdrawn)
Sims Ceramic Pvt Ltd                   Proposed LT Bk    -             2.3    Withdrawn
                                       Loan Fac
(Rating reaffirmed and Withdrawn)
Sims Ceramic Pvt Ltd                   TL                -             648.3  Withdrawn
(Rating reaffirmed and Withdrawn)
SOTC Travel Ltd                        Overdraft         CRISIL        300    Assigned
                                                         A+/Negative
(Downgraded from 'CRISIL AA-/Negative')
SOTC Travel Ltd                        Overdraft         CRISIL        25     Assigned
                                                         A+/Negative
(Downgraded from 'CRISIL AA-/Negative')
Specialty Polyfilms India Pvt Ltd      CC                CRISIL        110    Reaffirmed
                                                         BB/Stable
Specialty Polyfilms India Pvt Ltd      LT Loan           CRISIL        128.1  Reaffirmed
                                                         BB/Stable
Sugam Vanijya Holdings Pvt Ltd         NCD               CRISIL        4480   Reaffirmed
                                                         BBB+/Negative
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed)
Supreme Offshore Construction And      CC                CRISIL        418.7  -
Technical Services Ltd                                   BB-/Stable
(Upgraded from 'CRISIL B/Stable')
Supreme Offshore Construction And      Proposed FB Bk    CRISIL        341.3  -
Technical Services Ltd                 Limits            BB-/Stable
(Upgraded from 'CRISIL B/Stable')
TC Tours Ltd                           Overdraft         CRISIL A+     50     -
(Downgraded from 'CRISIL AA-(CE)/Negative')
Thomas Cook India Ltd                  Corporate Credit  CCR           -      -
                                       Rating            A+/Negative
(Downgraded from 'CCR AA-/Negative')
Thomas Cook India Ltd                  CC**              CRISIL        450    -
                                                         A+/Negative
(Downgraded from 'CRISIL AA-/Negative'.
** Fully interchangeable with LC)
Thomas Cook India Ltd                  Overdraft         CRISIL        160    -
                                                         A+/Negative
(Downgraded from 'CRISIL AA-/Negative')
Thomas Cook India Ltd                  Overdraft@        CRISIL        430    -
                                                         A+/Negative
(Downgraded from 'CRISIL AA-/Negative'.
@ Including the corporate cards limits of Rs 10 crore which is fully interchangeable with OD;
Fully interchangeable with LC/BG
1. Fully interchangeable with letter of credit (LC)
2. Letters of credit interchangeable with bank guarantee to the extent of Rs 50 crore
3. Letters of credit interchangeable with bank guarantee to the extent of Rs 20 crore
4. Fully interchangeable with working capital demand loan (WCDL) and Letter of Credit (LC)/ bank
guarantee (BG)
5. Facility of Rs 100 crore fully interchangeable with BG and post-shipment credit in foreign
currency (PSFC) up to Rs 25 crore, facility of Rs 150 crore fully interchangeable between LC and
BG, facility of Rs 35 crore interchangeable with BG up to Rs 15 crore
6. Facility of Rs 49 crore interchangeable with LC of up to Rs 25 crore
7. Facility of Rs 55 crore fully interchangeable between LC and BG)
Thomas Cook India Ltd                  Proposed LT Bk    CRISIL        3380   -
                                       Loan Fac          A+/Negative
(Downgraded from 'CRISIL AA-/Negative')
Tirumala Seven Hills Pvt Ltd           CC                CRISIL        130    -
                                                         BB-/Stable
Tirumala Seven Hills Pvt Ltd           CC                CRISIL        130    -
                                                         BB-/Stable
(Migrated from 'CRISIL BB/Stable ISSUER NOT COOPERATING)
Transrail Lighting Ltd                 CC                CRISIL        3483.8 Reaffirmed
                                                         A-/Stable
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed)
Transrail Lighting Ltd                 Proposed LT Bk    CRISIL        385.7  Reaffirmed
                                       Loan Fac          A-/Stable
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed)
Transrail Lighting Ltd                 TL                CRISIL        2547.4 Reaffirmed
                                                         A-/Stable
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed)
Unique Malls Pvt Ltd                   LT Loan           CRISIL B-     1875   -
(Downgraded from 'CRISIL B+/Stable'; Placed on 'Rating Watch with Developing Implications')
Upal Developers Pvt Ltd                Proposed LT Bk    CRISIL        150    Reaffirmed
                                       Loan Fac          A-/Negative
Upal Developers Pvt Ltd                Secured Overdraft CRISIL        100    Reaffirmed
                                       Fac               A-/Negative
Upal Developers Pvt Ltd                WC TL             CRISIL        850    Reaffirmed
                                                         A-/Negative
Vamona Developers Pvt Ltd              Lease Rental      CRISIL        6500   Reaffirmed
                                       Discounting Loan* A/Negative
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed. *Includes sublimit
of overdraft facility of Rs 165 crore)
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

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

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

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222 , E-mail at rru.data@refinitiv.com)
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up