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CRISIL ratings for Indian debt instruments-Oct 26

    Oct 26  - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of October 23 & 25, 2020.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Abhijit Tea Co Pvt Ltd                 BG                CRISIL A4+    3      Reaffirmed
(Issuer Not Cooperating)
Adani Capital Pvt Ltd                  Proposed ST Bk    CRISIL A1+    1350   Reaffirmed
                                       Loan Fac
Adani Capital Pvt Ltd                  ST Loan           CRISIL A1+    150    Reaffirmed
Adani Capital Pvt Ltd                  WC Demand Loan    CRISIL A1+    500    Reaffirmed
Adani Capital Pvt Ltd                  ST NCD            CRISIL A1+    1000   Reaffirmed
Adani Capital Pvt Ltd                  CP                CRISIL A1+    1500   Reaffirmed
All Services Global Pvt Ltd            BG                CRISIL A3     350    Reaffirmed
Amar Autotech Pvt Ltd                  LOC               CRISIL A3     10     Migrated from
                                                                              CRISIL A4+
(Issuer Not Cooperating)
Arafaath Travels Pvt Ltd               BG                CRISIL A4+    45     Migrated from
                                                                              CRISIL A4+
Centum Electronics Ltd                 LOC & BG          CRISIL A3     1770   Reaffirmed
East Indian Produce Ltd                Proposed NFBL     CRISIL A4+    24.7   Reaffirmed
Ernad Engineering Enterprises          BG                CRISIL A4     300    Reaffirmed
Ferrum Extreme Engineering Pvt Ltd     BG                CRISIL A4+    20     Migrated from
                                                                              CRISIL A3
(Issuer Not Cooperating)
Ferrum Extreme Engineering Pvt Ltd     LOC               CRISIL A4+    140    Migrated from
                                                                              CRISIL A3
(Issuer Not Cooperating)
Ferrum Extreme Engineering Pvt Ltd     Proposed Bill     CRISIL A4+    50     Migrated from
                                       Discounting Fac                        CRISIL A3
(Issuer Not Cooperating)
HMA Agro Industries Ltd                Proposed Export   CRISIL A2     400    Upgraded from
                                       Packing Credit                         CRISIL A3+
Ideal Publications Trust               LOC               CRISIL A4     500    Reaffirmed
KCP Engineers Pvt Ltd                  BG                CRISIL A4+    30     Migrated from
                                                                              CRISIL A3
(Issuer Not Cooperating)
Kinsey Knitt International             Packing Credit    CRISIL A4+    1      Assigned
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Lakshmi Ceramics                       BG                CRISIL A4+    8      Migrated from
                                                                              CRISIL A3
(Issuer Not Cooperating)
Larsen and Toubro Ltd                  CP                CRISIL A1+    160000 Reaffirmed
Madhav Industrial Corporation          LOC               CRISIL A4+    650    Reaffirmed
^Fully interchangeability with LC
Madhav Steels (Ship Breaking Division) LOC               CRISIL A4+    650    Reaffirmed
^Fully interchangeability with LC
Maheshwari Mining Pvt Ltd              BG                CRISIL A4     320    -
(Issuer Not Cooperating)
Maheshwari Mining Pvt Ltd              LOC               CRISIL A4     30     -
(Issuer Not Cooperating)
Malayalam Vehicles India Pvt Ltd       Overdraft         CRISIL A4     30     Reaffirmed
Maxop Engineering Company Pvt Ltd      Export Packing    CRISIL A4+    395    Migrated from
                                       Credit                                 CRISIL A3+
(Issuer Not Cooperating)
Maxop Engineering Company Pvt Ltd      LOC & BG          CRISIL A4+    64     Migrated from
                                                                              CRISIL A3+
(Issuer Not Cooperating)
Maxop Engineering Company Pvt Ltd      Post Shipment     CRISIL A4+    205    Migrated from
                                       Credit                                 CRISIL A3+
(Issuer Not Cooperating)
Maxop Engineering Company Pvt Ltd      Pre Shipment      CRISIL A4+    90     Migrated from
                                       Credit                                 CRISIL A3+
(Issuer Not Cooperating)
Nuova Shoes                            Foreign Bill      CRISIL A3     10     Migrated from
                                       Discounting                            CRISIL A4+
Nuova Shoes                            LOC               CRISIL A3     10     Migrated from
                                                                              CRISIL A4+
(Issuer Not Cooperating)
Nuova Shoes                            Packing Credit    CRISIL A3     150    Migrated from
                                                                              CRISIL A4+
(Issuer Not Cooperating)
Pact Industries Ltd                    LOC               CRISIL A4     20     -
(Issuer Not Cooperating)
Phyto Chem (India) Ltd                 Inland/Import LOC CRISIL A4     50     -
(Issuer Not Cooperating)
PNB Gilts Ltd                          CP                CRISIL A1+    10000  Reaffirmed
(Issuer Not Cooperating)
Prakash Ferrous Industries Pvt Ltd     BG                CRISIL A4+    10     Migrated from
                                                                              CRISIL A3+
(Issuer Not Cooperating)
Prakash Ferrous Industries Pvt Ltd     Import LOC Limit  CRISIL A4+    36     Migrated from
                                                                              CRISIL A3+
(Issuer Not Cooperating)
Prakash Ferrous Industries Pvt Ltd     LOC               CRISIL A4+    274    Migrated from
                                                                              CRISIL A3+
(Issuer Not Cooperating)
Raghunath Exports Company              Bill Discounting  CRISIL A4     60     Reaffirmed
Raghunath Exports Company              Packing Credit    CRISIL A4     40     Reaffirmed
Sri Lakshmi Saraswathi Textiles (Arni) Bill Discounting  CRISIL A4     35     -
Ltd
(Issuer Not Cooperating)
Sri Lakshmi Saraswathi Textiles (Arni) LOC               CRISIL A4     20     -
Ltd
(Issuer Not Cooperating; Rating Migrated)
Sri Lakshmi Saraswathi Textiles (Arni) Packing Credit    CRISIL A4     20     -
Ltd
(Issuer Not Cooperating; Rating Migrated)
Terai Tea Co. Ltd                      BG                CRISIL A3     12     Reaffirmed
The Kharibari Tea Co. Ltd              Proposed ST Bk    CRISIL A4+    34     Reaffirmed
                                       Loan Fac
The Phosphate Co. Ltd                  Foreign Exchange  CRISIL A4     2      -
                                       Forward
(Issuer Not Cooperating)
The Phosphate Co. Ltd                  LOC               CRISIL A4     220    -
(Issuer Not Cooperating)
TMF Holdings Ltd                       CP                CRISIL A1+    25000  Reaffirmed
United Drilling Tools Ltd              BG                CRISIL A4     120    Revised from
                                                                              CRISIL A4+
United Drilling Tools Ltd              LOC               CRISIL A4     84     Revised from
                                                                              CRISIL A4+
(Issuer Not Cooperating)
United Drilling Tools Ltd              Packing Credit    CRISIL A4     204    Revised from
                                                                              CRISIL A4+
(Issuer Not Cooperating)
Vahini Irrigation Pvt Ltd              LOC               CRISIL A4+    200    Migrated from
                                                                              CRISIL A3
(Issuer Not Cooperating)




MEDIUM TERM RATINGS:
-------------------
Larsen and Toubro Ltd                  FD Programme      FAAA/Stable   -      Reaffirmed
Corporation Bank                       FD                FAA+/Watch    -      Withdrawn
                                                         Positive
Maheshwari Mining Pvt Ltd              FD                FB+/Stable    100    -




LONG TERM RATINGS:
-------------------
Abhijit Tea Co Pvt Ltd                 CC                CRISIL        47.5   Reaffirmed
                                                         BB/Stable
Abhijit Tea Co Pvt Ltd                 Proposed LT Bk    CRISIL        158.3  Reaffirmed
                                       Loan Fac          BB/Stable
Abhijit Tea Co Pvt Ltd                 TL                CRISIL        30     Reaffirmed
                                                         BB/Stable
Adani Capital Pvt Ltd                  Proposed LT Bk    CRISIL        770    Reaffirmed
                                       Loan Fac          AA-/Stable
(Issuer Not Cooperating)
Adani Capital Pvt Ltd                  TL                CRISIL        8230   Reaffirmed
                                                         AA-/Stable
Adani Capital Pvt Ltd                  NCD               CRISIL        1000   Reaffirmed
                                                         AA-/Stable
(Issuer Not Cooperating)
Adani Capital Pvt Ltd                  NCD               CRISIL        500    Reaffirmed
                                                         AA-/Stable
Adish Minerals Pvt Ltd                 Proposed TL       CRISIL        100    Migrated from
                                                         B/Stable             CRISIL
                                                                              B/Stable
Adish Minerals Pvt Ltd                 Proposed WC Fac   CRISIL        90     Migrated from
                                                         B/Stable             CRISIL
                                                                              B/Stable
(Issuer Not Cooperating)
All Services Global Pvt Ltd            CC                CRISIL        350    Reaffirmed
                                                         BBB-/Negative
All Services Global Pvt Ltd            Proposed LT Bk    CRISIL        80     Reaffirmed
                                       Loan Fac          BBB-/Negative
All Services Global Pvt Ltd            TL                CRISIL        20     Reaffirmed
                                                         BBB-/Negative
Amar Autotech Pvt Ltd                  CC                CRISIL        105    Migrated from
                                                         BBB-/Stable          CRISIL
                                                                              BB+/Stable 
Amar Autotech Pvt Ltd                  TL                CRISIL        10     Migrated from
                                                         BBB-/Stable          CRISIL
                                                                              BB+/Stable 
(Issuer Not Cooperating)
Anaswara Offset Pvt Ltd                CC                -             12.5   Withdrawn
(Issuer Not Cooperating)
Anaswara Offset Pvt Ltd                LT Loan           -             15     Withdrawn
(Issuer Not Cooperating)
Anaswara Offset Pvt Ltd                Proposed LT Bk    -             72.5   Withdrawn
                                       Loan Fac
(Issuer Not Cooperating)
Andhra Bank                            Tier I Bonds      CRISIL        5000   Withdrawn
                                       (Under Basel III) AA-/Watch
                                                         Developing
Andhra Bank                            Tier I Bonds      CRISIL        9000   Withdrawn
                                       (Under Basel III) AA-/Watch
                                                         Developing
Andhra Bank                            Tier I Bonds      CRISIL        5000   Withdrawn
                                       (Under Basel III) AA-/Watch
                                                         Developing
Andhra Bank                            Tier II Bonds     CRISIL        10000  Withdrawn
                                       (Under Basel III) AA+/Watch
                                                         Developing
(Issuer Not Cooperating)
Andhra Bank                            Tier II Bonds     CRISIL        5000   Withdrawn
                                       (Under Basel III) AA+/Watch
                                                         Developing
Andhra Bank                            Tier II Bonds     CRISIL        5000   Withdrawn
                                       (Under Basel III) AA+/Watch
                                                         Developing
Andhra Bank                            Tier II Bonds     CRISIL        10000  Withdrawn
                                       (Under Basel III) AA+/Watch
                                                         Developing
Andhra Bank                            Infrastructure    CRISIL        10000  Withdrawn
                                       Bond Issue        AA+/Watch
                                                         Developing
Arafaath Travels Pvt Ltd               Overdraft         CRISIL        5      Migrated from
                                                         BB-/Stable           CRISIL
                                                                              BB-/Stable
(Issuer Not Cooperating)
Arafaath Travels Pvt Ltd               Proposed LT Bk    CRISIL        10     Migrated from
                                       Loan Fac          BB-/Stable           CRISIL
                                                                              BB-/Stable
(Issuer Not Cooperating)
BRT Spinner Pvt Ltd                    CC                CRISIL        170    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
BRT Spinner Pvt Ltd                    LT Loan           CRISIL        60     Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Centum Electronics Ltd                 CC                CRISIL        410    Reaffirmed
                                                         BBB-/Stable
(Issuer Not Cooperating)
Centum Electronics Ltd                 Cash TL           CRISIL        240    Reaffirmed
                                                         BBB-/Stable
Centum Electronics Ltd                 Export Packing    CRISIL        350    Reaffirmed
                                       Credit            BBB-/Stable
Centum Electronics Ltd                 WC Loan           CRISIL        1227   Reaffirmed
                                                         BBB-/Stable
Coastal Packagers Pvt Ltd              Buyer`s Credit    -             20     Withdrawn
Coastal Packagers Pvt Ltd              Post Shipment     -             75     Withdrawn
                                       Credit
(Issuer Not Cooperating)
Coastal Packagers Pvt Ltd              Pre Shipment      -             100    Withdrawn
(Issuer Not Cooperating)               Credit  
Coastal Packagers Pvt Ltd              Proposed FB Bk    -             37.5   Withdrawn
                                       Limits
(Issuer Not Cooperating)
Coastal Packagers Pvt Ltd              WC TL             -             17.5   Withdrawn
(Issuer Not Cooperating)
Corporation Bank                       Upper Tier-II     CRISIL        8500   Withdrawn
                                       Bonds (Under BaselA+/Watch
                                       II)               Positive
DDN SFA Ltd                            BG                -             15     Withdrawn
(Issuer Not Cooperating; Rating Migrated)
DDN SFA Ltd                            CC                -             100    Withdrawn
(Issuer Not Cooperating)
DDN SFA Ltd                            Proposed LT Bk    -             67.2   Withdrawn
                                       Loan Fac
(Issuer Not Cooperating)
DDN SFA Ltd                            TL                -             67.8   Withdrawn
(Issuer Not Cooperating)
Dr.Shajis Mri and Medical Research     LT Loan           CRISIL        88     Reaffirmed
Centre Pvt Ltd                                           B/Stable
(Issuer Not Cooperating)
Dr.Shajis Mri and Medical Research     Overdraft         CRISIL        5      Reaffirmed
Centre Pvt Ltd                                           B/Stable
Dr.Shajis Mri and Medical Research     Proposed LT Bk    CRISIL        42.8   Reaffirmed
Centre Pvt Ltd                         Loan Fac          B/Stable
Dynamic Trade Solutions Pvt Ltd        CC                CRISIL        20     Assigned
                                                         BB+/Stable
(Issuer Not Cooperating)
East Indian Produce Ltd                CC                CRISIL        49.5   Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
East Indian Produce Ltd                TL                CRISIL        11.3   Reaffirmed
                                                         BB/Stable
Ernad Engineering Enterprises          CC                CRISIL        200    Downgraded
                                                         B/Stable             from CRISIL
                                                                              B+/Stable
Ferrum Extreme Engineering Pvt Ltd     CC                CRISIL        95     Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Ferrum Extreme Engineering Pvt Ltd     Proposed TL       CRISIL        30     Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Ferrum Extreme Engineering Pvt Ltd     Proposed WC Fac   CRISIL        20     Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Ferrum Extreme Engineering Pvt Ltd     TL                CRISIL        95     Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Gaurav Bharti Shiksha Sansthan         TL                CRISIL D      100    Migrated from
                                                                              CRISIL D
(Issuer Not Cooperating)
Hira Automobiles Ltd                   CC                CRISIL        250    -
                                                         B+/Stable
(Issuer Not Cooperating)
HMA Agro Industries Ltd                Export Packing    CRISIL        2100   Upgraded from
                                       Credit            BBB+/Stable          CRISIL
                                                                              BBB/Stable
Jagdish Rice Mills                     CC                CRISIL        220    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Negative
(Issuer Not Cooperating)
Jakharia Fabric Ltd                    CC                CRISIL        20     -
                                                         BB-/Stable
(Issuer Not Cooperating)
Jakharia Fabric Ltd                    Proposed LT Bk    CRISIL        87.5   -
                                       Loan Fac          BB-/Stable
(Issuer Not Cooperating; Rating Migrated)
Jakharia Fabric Ltd                    TL                CRISIL        90     -
                                                         BB-/Stable
(Issuer Not Cooperating; Rating Migrated)
Jaldacca Tea Plantation Pvt Ltd        CC                CRISIL        45.5   Reaffirmed
                                                         BB/Stable
Jaldacca Tea Plantation Pvt Ltd        Proposed FB Bk    CRISIL        33     Reaffirmed
                                       Limits            BB/Stable
Juniper Constructions Pvt Ltd          BG                -             116.1  Withdrawn
(Issuer Not Cooperating)
Juniper Constructions Pvt Ltd          CC                -             30     Withdrawn
(Issuer Not Cooperating)
Juniper Constructions Pvt Ltd          Proposed LT Bk    -             3.9    Withdrawn
                                       Loan Fac
(Issuer Not Cooperating)
Kam-Avida Enviro Engineers Pvt Ltd     BG                -             57.5   Withdrawn
Kam-Avida Enviro Engineers Pvt Ltd     CC                -             110    Withdrawn
(Issuer Not Cooperating)
Kam-Avida Enviro Engineers Pvt Ltd     LOC               -             42.5   Withdrawn
(Issuer Not Cooperating)
Kam-Avida Enviro Engineers Pvt Ltd     Proposed CC Limit -             10     Withdrawn
(Issuer Not Cooperating)
KCP Engineers Pvt Ltd                  CC                CRISIL        150    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
KCP Engineers Pvt Ltd                  Overdraft         CRISIL        300    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
KCP Engineers Pvt Ltd                  Proposed BG       CRISIL        20     Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Kinsey Knitt International             TL                CRISIL        99     Assigned
                                                         BB+/Stable
Kisan Mouldings Ltd                    CC                CRISIL D      1070   -
(Issuer Not Cooperating)
Kisan Mouldings Ltd                    Funded Interest TLCRISIL D      151.5  -
(Issuer Not Cooperating)
Kisan Mouldings Ltd                    Letter Of         CRISIL D      62.5   -
(Issuer Not Cooperating)               Guarantee 
Kisan Mouldings Ltd                    LOC               CRISIL D      497.5  -
(Issuer Not Cooperating)
Kisan Mouldings Ltd                    LT Loan           CRISIL D      618    -
(Issuer Not Cooperating)
Kisan Mouldings Ltd                    Proposed LT Bk    CRISIL D      0.5    -
                                       Loan Fac
(Issuer Not Cooperating)
Kisan Mouldings Ltd                    WC TL             CRISIL D      470    -
(Issuer Not Cooperating)
Lakshmi Ceramics                       CC                CRISIL        100    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Lakshmi Ceramics                       LT Loan           CRISIL        270    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Lakshmi Ceramics                       Proposed WC Fac   CRISIL        4.5    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Larsen and Toubro Ltd                  FB Fac            CRISIL        100000 Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  Non-FBL           CRISIL        1000000Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  NCD               CRISIL        13310  Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  NCD               CRISIL        13500  Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  NCD               CRISIL        14000  Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  NCD               CRISIL        10000  Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  NCD               CRISIL        90000  Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  NCD               CRISIL        53500  Reaffirmed
                                                         AAA/Stable
Larsen and Toubro Ltd                  Inflation-linked  CRISIL        1000   Reaffirmed
                                       Capital-indexed   AAA/Stable
                                       NCD
Laxmi Cottex                           CC                CRISIL        35     -
                                                         B-/Stable
(Revised from 'CRISIL B+/Stable' to 'CRISIL D' and simultaneously upgraded to 'CRISIL
B-/Stable')
Laxmi Cottex                           WC TL             CRISIL        40     -
                                                         B-/Stable
(Revised from 'CRISIL B+/Stable' to 'CRISIL D' and simultaneously upgraded to 'CRISIL
B-/Stable')
Madhav Industrial Corporation          CC^               CRISIL        100    Reaffirmed
                                                         BB+/Stable
^Fully interchangeability with LC
Madhav Steels (Ship Breaking Division) CC^               CRISIL        100    Reaffirmed
                                                         BB+/Stable
^Fully interchangeability with LC 
Maheshwari Mining Pvt Ltd              CC                CRISIL        190    -
                                                         B+/Stable
(Issuer Not Cooperating)
Malayalam Vehicles India Pvt Ltd       Inventory Funding CRISIL        80     Reaffirmed
                                       Fac               B+/Stable
Malayalam Vehicles India Pvt Ltd       LT Loan           CRISIL        20     Reaffirmed
                                                         B+/Stable
Maxop Engineering Company Pvt Ltd      CC                CRISIL        210    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB/Negative
(Issuer Not Cooperating; Rating Migrated)
Maxop Engineering Company Pvt Ltd      LT Loan           CRISIL        883.1  Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB/Negative
(Issuer Not Cooperating)
Maxop Engineering Company Pvt Ltd      Proposed FB Bk    CRISIL        120.1  Migrated from
                                       Limits            BB+/Stable           CRISIL
                                                                              BBB/Negative
(Issuer Not Cooperating)
MSR India Ltd                          CC                CRISIL        301    -
                                                         BB-/Stable
(Issuer Not Cooperating)
MSR India Ltd                          Proposed LT Bk    CRISIL        4      -
                                       Loan Fac          BB-/Stable
(Issuer Not Cooperating; Rating Migrated)
Muthoot Fincorp Ltd                    Principal         Provisional   1000   Provisional
                                       Protected Market  CRISIL PP-MLD        Rating
                                       Linked Debentures AA+r (CE)/Stable     Assigned
N. C. Nahar                            Ratings           -             -      -
New Darjeeling Union Tea Co Ltd        CC                CRISIL        87.5   Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
New Darjeeling Union Tea Co Ltd        Proposed LT Bk    CRISIL        24     Reaffirmed
                                       Loan Fac          BB/Stable
New Darjeeling Union Tea Co Ltd        TL                CRISIL        73.5   Reaffirmed
                                                         BB/Stable
Opal Luxury Time Products Ltd          BG                CRISIL D      10     -
(Issuer Not Cooperating)
Opal Luxury Time Products Ltd          CC                CRISIL D      80     -
(Issuer Not Cooperating)
Opal Luxury Time Products Ltd          LOC               CRISIL D      50     -
(Issuer Not Cooperating)
P. P. John Constructions               BG                -             32.5   Withdrawn
(Issuer Not Cooperating)
P. P. John Constructions               CC                -             45     Withdrawn
P. P. John Constructions               LT Loan           -             5      Withdrawn
P. P. John Constructions               Proposed LT Bk    -             17.5   Withdrawn
                                       Loan Fac
Pact Industries Ltd                    CC                CRISIL        90     -
                                                         B+/Stable
Pact Industries Ltd                    Standby LOC       CRISIL        10     -
                                                         B+/Stable
(Issuer Not Cooperating)
Phyto Chem (India) Ltd                 CC & WC demand    CRISIL        135    -
                                       Loan              B+/Stable
Prakash Ferrous Industries Pvt Ltd     CC                CRISIL        320    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB/Stable
(Issuer Not Cooperating)
Prakash Ferrous Industries Pvt Ltd     Overdraft         CRISIL        180    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB/Stable
(Issuer Not Cooperating)
Prakash Ferrous Industries Pvt Ltd     Proposed TL       CRISIL        225    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB/Stable
(Issuer Not Cooperating)
Prakash Ferrous Industries Pvt Ltd     Proposed WC Fac   CRISIL        299.1  Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB/Stable
(Issuer Not Cooperating)
Prakash Ferrous Industries Pvt Ltd     TL                CRISIL        255.9  Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB/Stable
(Issuer Not Cooperating)
R G Bronze Mfg. Company Pvt Ltd        Proposed CC Limit CRISIL        75     Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB/Stable
R.J.S. Steels Pvt Ltd                  CC                -             15     Withdrawn
R.J.S. Steels Pvt Ltd                  LOC               -             50     Withdrawn
(Issuer Not Cooperating)
R.J.S. Steels Pvt Ltd                  Proposed LT Bk    -             35     Withdrawn
                                       Loan Fac
(Issuer Not Cooperating)
R.S. Enterprises (Bangalore) Pvt Ltd   CC                -             75     Withdrawn
(Issuer Not Cooperating)
Raj Fishmeal and Oil Company           CC                CRISIL        200    Downgraded
                                                         BB/Stable            from CRISIL
                                                                              BB+/Stable
(Issuer Not Cooperating)
Raj Fishmeal and Oil Company           LT Loan           CRISIL        40.3   Downgraded
                                                         BB/Stable            from CRISIL
                                                                              BB+/Stable
Raj Fishmeal and Oil Company           Proposed LT Bk    CRISIL        38.8   Downgraded
                                       Loan Fac          BB/Stable            from CRISIL
                                                                              BB+/Stable
Raj Fishmeal and Oil Company           TL                CRISIL        120.9  Downgraded
                                                         BB/Stable            from CRISIL
                                                                              BB+/Stable
Raj Fishmeal and Oil Company           WC Demand Loan    CRISIL        150    Downgraded
                                                         BB/Stable            from CRISIL
                                                                              BB+/Stable
Ramesh Flowers Pvt Ltd                 Export Packing    CRISIL        780    Assigned
                                       Credit            BBB+/Stable
S. S. B. Engineers Pvt Ltd             CC                CRISIL        75     Reaffirmed
                                                         BB/Stable
S. S. B. Engineers Pvt Ltd             TL                CRISIL        80     Reaffirmed
                                                         BB/Stable
Sakuma Exports Ltd                     FB Fac            CRISIL        1550   Revised from
                                                         B/Stable             CRISIL
                                                                              BB+/Stable
Sakuma Exports Ltd                     Proposed LT Bk    CRISIL        1450   Revised from
                                       Loan Fac          B/Stable             CRISIL
                                                                              BB+/Stable
(Issuer Not Cooperating)
Sanwariyaji Synthetics                 CC                CRISIL        250    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating; Rating Migrated)
Sanwariyaji Synthetics                 TL                CRISIL        153.1  Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Sanwariyaji Texfab Industries Ltd      CC                CRISIL        67.5   Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
Sanwariyaji Texfab Industries Ltd      TL                CRISIL        45     Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Sayedabad Tea Co. Ltd                  CC                CRISIL        99     Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
Sayedabad Tea Co. Ltd                  Proposed LT Bk    CRISIL        0.6    Reaffirmed
                                       Loan Fac          BB/Stable
Sayedabad Tea Co. Ltd                  TL                CRISIL        54.5   Assigned
                                                         BB/Stable
Sidharth Exporters                     CC                CRISIL        220    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Negative
Sri Lakshmi Saraswathi Textiles (Arni) CC                CRISIL        50     -
Ltd                                                      B-/Stable
(Issuer Not Cooperating; Rating Migrated)
Sri Lakshmi Saraswathi Textiles (Arni) Proposed LT Bk    CRISIL        170    -
Ltd                                    Loan Fac          B-/Stable
(Issuer Not Cooperating; Rating Migrated)
SVS Food Processors Pvt Ltd            CC                CRISIL        85     Reaffirmed
                                                         BB-/Stable
(Issuer Not Cooperating)
SVS Food Processors Pvt Ltd            Proposed LT Bk    CRISIL        4.1    Reaffirmed
                                       Loan Fac          BB-/Stable
SVS Food Processors Pvt Ltd            WC TL             CRISIL        10.9   Reaffirmed
                                                         BB-/Stable
Terai Tea Co. Ltd                      CC                CRISIL        255    Reaffirmed
                                                         BBB-/Negative
Terai Tea Co. Ltd                      Proposed WC Fac   CRISIL        217.6  Reaffirmed
                                                         BBB-/Negative
The Kharibari Tea Co. Ltd              CC                CRISIL        44.9   Reaffirmed
                                                         BB/Stable
(Issuer Not Cooperating)
The Kharibari Tea Co. Ltd              TL                CRISIL        10     Reaffirmed
                                                         BB/Stable
The Phosphate Co. Ltd                  CC                CRISIL        180    -
                                                         B+/Stable
The Phosphate Co. Ltd                  TL                CRISIL        25.5   -
                                                         B+/Stable
(Issuer Not Cooperating)
TMF Holdings Ltd                       Perpetual Bonds   CRISIL        13000  -
                                                         AA-/Negative
TMF Holdings Ltd                       Perpetual Bonds   CRISIL        1950   Reaffirmed
                                                         AA-/Negative
(Converted from Provisional Rating to Final Rating)
TMF Holdings Ltd                       Perpetual Bonds   CRISIL        3050   Reaffirmed
                                                         AA-/Negative
TMF Holdings Ltd                       NCD               CRISIL        12500  Reaffirmed
                                                         AA-/Negative
TPM Depot                              CC                CRISIL        18     Reaffirmed
                                                         BB-/Stable
TPM Depot                              Proposed LT Bk    CRISIL        52     Reaffirmed
                                       Loan Fac          BB-/Stable
Union Bank of India                    Tier I Bonds      CRISIL        9000   Reaffirmed
                                       (Under Basel III)*AA-/Negative
*Transferred from erstwhile-Andhra Bank 
Union Bank of India                    Tier I Bonds      CRISIL        5000   Reaffirmed
                                       (Under Basel III)*AA-/Negative
*Transferred from erstwhile-Andhra Bank
Union Bank of India                    Tier II Bonds     CRISIL        5000   Reaffirmed
                                       (Under Basel III) AA+/Negative
*Transferred from erstwhile-Andhra Bank
Union Bank of India                    Tier II Bonds     CRISIL        10000  Reaffirmed
                                       (Under Basel III)*AA+/Negative
*Transferred from erstwhile-Andhra Bank
Union Bank of India                    Tier II Bonds     CRISIL        10000  Reaffirmed
                                       (Under Basel III)*AA+/Negative
*Transferred from erstwhile-Andhra Bank
Union Bank of India                    Infrastructure    CRISIL        5001   Reaffirmed
                                       Bonds*            AA+/Negative
*Transferred from erstwhile-Andhra Bank
Union Bank of India                    Tier II Bonds     CRISIL        20000  Reaffirmed
                                       (Under Basel III) AA+/Negative
*Transferred from erstwhile-Andhra Bank
Union Bank of India                    Tier-II Bond IssueCRISIL        37500  Reaffirmed
                                       (Under Basel III) AA+/Negative
Union Bank of India                    Lower Tier- II    CRISIL        8000   Reaffirmed
                                       Bond (Under Basel AA+/Negative
                                       II)
Union Bank of India                    Upper Tier-II BondCRISIL        2500   Reaffirmed
                                       Issue             AA+/Negative
Union Bank of India                    Upper Tier-II BondCRISIL        7500   Withdrawn
                                       Issue (Under      AA+/Negative
                                       Basel II)
Union Bank of India                    Tier-I Perpetual  CRISIL        3000   Withdrawn
                                       Bond Issue (Under AA+/Negative
                                       Basel II)
United Drilling Tools Ltd              Proposed LT Bk    CRISIL        8.1    Revised from
                                       Loan Fac          B/Stable             CRISIL
                                                                              BB+/Stable
(Issuer Not Cooperating)
Vahini Irrigation Pvt Ltd              CC                CRISIL        300    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Vahini Irrigation Pvt Ltd              Proposed LT Bk    CRISIL        80     Migrated from
                                       Loan Fac          BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Vahini Irrigation Pvt Ltd              TL                CRISIL        260    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Venkateshwara Power Project Ltd        CC                -             1450   Withdrawn
(Issuer Not Cooperating)
Venkateshwara Power Project Ltd        Proposed LT Bk    -             115.6  Withdrawn
                                       Loan Fac
(Issuer Not Cooperating)
Venkateshwara Power Project Ltd        TL                -             488.6  Withdrawn
(Issuer Not Cooperating)
Venus Remedies Ltd                     BG                CRISIL D      25     -
(Issuer Not Cooperating)
Venus Remedies Ltd                     CC                CRISIL D      1050   -
(Issuer Not Cooperating)
Venus Remedies Ltd                     Funded Interest TLCRISIL D      95.7   -
(Issuer Not Cooperating)
Venus Remedies Ltd                     LOC               CRISIL D      255    -
(Issuer Not Cooperating)
Venus Remedies Ltd                     LOC & BG          CRISIL D      90     -
(Issuer Not Cooperating)
Venus Remedies Ltd                     TL                CRISIL D      1467.7 -
(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@refinitiv.com)
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