October 7, 2019 / 10:09 AM / 11 days ago

CRISIL ratings for Indian debt instruments-Oct 7

    Oct 7 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of October 4, 2019.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A.P.I. Civilcon Pvt Ltd               BG                 CRISIL A4+     700     Reaffirmed
A.V. Thomas Leather and Allied ProductBG                 CRISIL A2      30      Reaffirmed
Pvt Ltd
A.V. Thomas Leather and Allied ProductLOC                CRISIL A2      150     Reaffirmed
Pvt Ltd
Abhijit Tea Co Pvt Ltd                BG                 CRISIL A4+     3       Reaffirmed
Afflatus Gravures Pvt Ltd             Proposed LOC & BG  CRISIL A4+     75
Issuer not cooperating; Revised from CRISIL A3+
Akas Medical                          BG                 CRISIL A4      6       Reaffirmed
Akas Medical                          LOC                CRISIL A4      5       Reaffirmed
B V Prabhujee                         BG                 CRISIL A4      15
Upgraded from CRISIL D
B. Ramanaiah Constructions            BG                 CRISIL A4+     100     Reaffirmed
(Issuer not cooperating; Rating Migrated)
Bajaj Finance Ltd                     ST Bk Fac          CRISIL A1+     3750    Reaffirmed
Bajaj Finance Ltd                     CP                 CRISIL A1+     20000   Reaffirmed
Bala Industries                       BG                 CRISIL A4+     40      Assigned
Bang Overseas Ltd                     LOC                CRISIL A4+     170     Reaffirmed
(Issuer not cooperating; Rating Migrated)
Boon Education, Environment & Rural   BG                 CRISIL A4+     32      Reaffirmed
Development Society
Boon Education, Environment & Rural   Overdraft          CRISIL A4+     30      Reaffirmed
Development Society
Brightway Contractors and Developers  BG                 CRISIL A4      55      Reaffirmed
Cascy Forge Products                  LOC                CRISIL A4+     12
Issuer not cooperating; Migrated from CRISIL A4+; Rating Withdrawn
Cascy Forge Products                  Proposed LT Bk     CRISIL A4+     10.5
                                      Loan Fac
Issuer not cooperating; Migrated from CRISIL A4+; Rating Withdrawn
Chopra Traders                        BG                 CRISIL A4+     100     Assigned
Daimler Financial Services India Pvt LCP                 CRISIL A1+     35000   Reaffirmed
Daimler India Commercial Vehicles Pvt Proposed ST Bk     CRISIL A1+     15000   Reaffirmed
Ltd                                   Loan Fac
Daimler India Commercial Vehicles Pvt CP                 CRISIL A1+     5000    Reaffirmed
Ltd
Deepak and Company Infra Pvt Ltd      BG                 CRISIL A4+     34
Issuer not cooperating; Migrated from CRISIL A4+; Rating Withdrawn
Deepak and Company Infra Pvt Ltd      Overdraft          CRISIL A4+     15
Issuer not cooperating; Migrated from CRISIL A4+; Rating Withdrawn
East Indian Produce Ltd               Proposed NFBL      CRISIL A4+     24.7    Assigned
Elcom Innovations Pvt Ltd             LOC                CRISIL A4      40
Issuer not cooperating; Rating Withdrawn
Electro Copper and Alloys ManufacturinLOC                CRISIL A4+     135     Reaffirmed
Company
Fulcrum Worldwide Software Pvt Ltd    BG                 CRISIL A4+     5.5
(Issuer not cooperating; Rating Migrated)
G.Sankar Timber Depot                 LOC                CRISIL A4      35      Reaffirmed
Gatiman Auto Pvt Ltd                  BG                 CRISIL A4      2
(Issuer not cooperating; Rating Migrated)
Gatiman Auto Pvt Ltd                  LOC                CRISIL A4      14.5
(Issuer not cooperating; Rating Migrated)
Global Aqua - Kolkata                 BG                 CRISIL A4      5       Assigned
Global Aqua - Kolkata                 Packing Credit     CRISIL A4      63      Assigned
Hal-Ko-Infra Projects                 BG                 CRISIL A4      37      Reaffirmed
Hal-Ko-Infra Projects                 Proposed ST Bk     CRISIL A4      3       Reaffirmed
                                      Loan Fac
Himcon Engineers India Pvt Ltd        BG                 CRISIL A4+     80.5    Reaffirmed
Hind Offshore Pvt Ltd                 BG                 CRISIL A4+     200
(Issuer not cooperating; Rating Migrated)
IVP Ltd                               LOC                CRISIL A3      400
Iworld Business Solutions Pvt Ltd     BG                 CRISIL A3+     100
Downgraded from CRISIL A2
Jagmini Micro Knit Pvt Ltd            BG                 CRISIL A3+     2.5     Reaffirmed
Jagmini Micro Knit Pvt Ltd            LOC                CRISIL A3+     7.5     Reaffirmed
JNS Instruments Ltd                   LOC                CRISIL A4+     150
Issuer not cooperating; Revised from CRISIL A3
Joshi Automobiles Pvt Ltd             LOC & BG           CRISIL A4+     1
(Issuer not cooperating; Rating Migrated)
Joys Steel Impex                      LOC                CRISIL A4+     70      Reaffirmed
L & W Construction Pvt Ltd            BG                 CRISIL A4+     14000
Issuer not cooperating; Revised from CRISIL A2+
Madhav Industrial Corporation         LOC                CRISIL A4+     650     Reaffirmed
Madhav Steels (Ship Breaking Division)LOC                CRISIL A4+     650     Reaffirmed
Manjeet Plastic Industries            BG                 CRISIL A4      105
Assigned; Suspension Revoked
Ocean Gate Container Terminals Pvt LtdBG                 CRISIL A4+     250
Issuer not cooperating; Revised from CRISIL A3
Orient Color Art Printers Pvt Ltd     BG                 CRISIL A4      1.5     Reaffirmed
Orient Color Art Printers Pvt Ltd     Foreign Bill       CRISIL A4      17.5    Reaffirmed
                                      Discounting
Orient Color Art Printers Pvt Ltd     Packing Credit     CRISIL A4      7.5     Reaffirmed
Paayas Agro Foods LLP                 BG                 CRISIL A4      5.7     Assigned
Pact Industries Ltd                   LOC                CRISIL A4      20

Issuer not cooperating; Migrated from CRISIL A4+
Paramount Industries                  Overdraft          CRISIL A4+     20      Assigned
Paramount Industries                  BG                 CRISIL A4+     40      Assigned
Pardeep Electricals & Builders Pvt LtdBG                 CRISIL A4+     70      Reaffirmed
Pardeep Electricals & Builders Pvt LtdLOC                CRISIL A4+     10      Reaffirmed
Pioneer Plastic Industries Ltd        BG                 CRISIL A4+     20      Assigned
PNB Housing Finance Ltd               CP Programme       CRISIL A1      260000  Reaffirmed
Porus Laboratories Pvt Ltd            LOC & BG           CRISIL A2      110
Upgraded from CRISIL A3+
Porus Laboratories Pvt Ltd            Packing Credit in  CRISIL A2      390
                                      Foreign Currency
Upgraded from CRISIL A3+
Prashant Castech Pvt Ltd              Export Packing     CRISIL A4+     90
                                      Credit
Issuer not cooperating; Revised from CRISIL A3+ Issuer not cooperating
Prashant Castings Pvt Ltd             Export Packing     CRISIL A4+     90
                                      Credit
Issuer not cooperating; Revised from CRISIL A3+
R S B Cottex Ltd                      BG                 CRISIL A3      50      Reaffirmed
R S B Cottex Ltd                      Foreign Exchange   CRISIL A3      2.6     Reaffirmed
                                      Forward
R.B.Agarwalla and Co.                 BG                 CRISIL A3      47.8    Reaffirmed
R.B.Agarwalla and Co.                 LOC                CRISIL A3      60      Reaffirmed
R.B.Agarwalla and Co.                 Packing Credit     CRISIL A3      400     Reaffirmed
R.P.P Infra Projects Ltd              BG                 CRISIL A4+     2044.9
Downgraded from CRISIL A3+
R.P.P Infra Projects Ltd              Proposed BG        CRISIL A4+     20.4
Downgraded from CRISIL A3+
Raghav Export                         BG                 CRISIL A4+     3
(Issuer not cooperating; Rating Migrated)
Raghav Export                         Foreign LOC        CRISIL A4+     5
(Issuer not cooperating; Rating Migrated)
Rajshekhar Constructions Pvt Ltd      BG                 CRISIL A4      100     Reaffirmed
(Issuer not cooperating; Rating Migrated)
Rama Steel Tubes Ltd                  BG                 CRISIL A4+     150
Issuer not cooperating; Revised from CRISIL A3
Rama Steel Tubes Ltd                  LOC                CRISIL A4+     180
Issuer not cooperating; Revised from CRISIL A3
Refex Energy Ltd                      BG                 CRISIL A4+     600.1   Reaffirmed
(Issuer not cooperating; Rating Migrated)
Refex Energy Ltd                      LOC                CRISIL A4+     100     Reaffirmed
(Issuer not cooperating; Rating Migrated)
SCL India Ltd                         BG                 CRISIL A4      150
(Issuer not cooperating; Rating Migrated)
Seabird Marine Services Pvt Ltd       BG                 CRISIL A4+     350     Withdrawn
Seabird Marine Services Pvt Ltd       LOC                CRISIL A4+     55      Withdrawn
Sravins Instruments and Systems       BG                 CRISIL A4+     60
(Issuer not cooperating; Rating Migrated)
Sri Lakshmi Constructions-Nellore     BG                 CRISIL A4+     80      Reaffirmed
Terai Tea Co. Ltd                     BG                 CRISIL A3      12      Reaffirmed
The Kharibari Tea Co. Ltd             Proposed NFBL      CRISIL A4+     24      Assigned
The Mahabir Jute Mills Ltd            BG                 CRISIL A4+     30
Urmila Rcp Projects Pvt Ltd           BG                 CRISIL A4+     250     Assigned
Vikas Ecotech Ltd                     LOC & BG           CRISIL A4+     345
Issuer not cooperating; Revised from CRISIL A3
Voxco Pigments and Chemicals Pvt Ltd  LOC                CRISIL A4+     35.5
(Issuer not cooperating; Rating Migrated)

MEDIUM TERM RATINGS:
-------------------
Bajaj Finance Ltd                     FD Programme       FAAA                   Reaffirmed
PNB Housing Finance Ltd               FD Programme       FAAA           185000  -
PNB Housing Finance Ltd               FD Programme       FAAA           185000  -

LONG TERM RATINGS:
-------------------
A.P.I. Civilcon Pvt Ltd               CC                 CRISIL BB+     200     Reaffirmed
A.V. Thomas Leather and Allied ProductBill Discounting   CRISIL BBB+    190     Reaffirmed
Pvt Ltd
A.V. Thomas Leather and Allied ProductExport Packing     CRISIL BBB+    730     Reaffirmed
Pvt Ltd                               Credit
A.V. Thomas Leather and Allied ProductProposed LT Bk     CRISIL BBB+    34      Reaffirmed
Pvt Ltd                               Loan Fac
A.V. Thomas Leather and Allied ProductStandby Line of    CRISIL BBB+    50      Reaffirmed
Pvt Ltd                               Credit
Abhijit Tea Co Pvt Ltd                CC                 CRISIL BB      60      Reaffirmed
Abhijit Tea Co Pvt Ltd                Proposed LT Bk     CRISIL BB      128.8   Reaffirmed
                                      Loan Fac
Abhijit Tea Co Pvt Ltd                TL                 CRISIL BB      47      Reaffirmed
Afflatus Gravures Pvt Ltd             LT Loan            CRISIL BB+     650
Issuer not cooperating; Revised from CRISIL BBB
Afflatus Gravures Pvt Ltd             Proposed TL        CRISIL BB+     100
Issuer not cooperating; Revised from CRISIL BBB
Ajita Sil-Chem Pvt Ltd                CC                 CRISIL BB+     120     Reaffirmed
Ajita Sil-Chem Pvt Ltd                LT Loan            CRISIL BB+     132.5   Reaffirmed
Ajita Sil-Chem Pvt Ltd                Proposed BG        CRISIL BB+     37.5    Reaffirmed
Akas Medical                          CC                 CRISIL B+      80      Reaffirmed
Akas Medical                          LT Loan            CRISIL B+      28.2    Reaffirmed
B V Prabhujee                         CC                 CRISIL B       29      Upgraded 
                                                                                from CRISIL D
B V Prabhujee                         LT Loan            CRISIL B       10.5    Upgraded 
                                                                                from CRISIL D
B V Prabhujee                         Proposed LT Bk     CRISIL B       45.5    Upgraded from   
             
                                      Loan Fac                                  CRISIL D 
B. Ramanaiah Constructions            Overdraft          CRISIL BB-     140     Reaffirmed
(Issuer not cooperating; Rating Migrated)
B.L. Agro Industries                  CC                 CRISIL B+      30      Reaffirmed
B.L. Agro Industries                  TL                 CRISIL B+      50      Reaffirmed
Bajaj Finance Ltd                     CC & WC demand loanCRISIL AAA     26200   Reaffirmed
Bajaj Finance Ltd                     LT Bk Fac          CRISIL AAA     126000  Reaffirmed
Bajaj Finance Ltd                     Proposed LT Bk     CRISIL AAA     54050   Reaffirmed
                                      Loan Fac
Bajaj Finance Ltd                     NCD                CRISIL AAA     35958   Withdrawn
Bajaj Finance Ltd                     Subordinated Debt  CRISIL AAA     26000   Reaffirmed
Bajaj Finance Ltd                     Lower Tier-II BondsCRISIL AAA     7000    Reaffirmed
Bajaj Finance Ltd                     NCD                CRISIL AAA     50000   Assigned
Bajaj Finance Ltd                     NCD                CRISIL AAA     334570  Reaffirmed
Bala Industries                       CC                 CRISIL BB-     25      Assigned
Bala Industries                       Bill Discounting   CRISIL BB-     50      Assigned
Bang Overseas Ltd                     CC                 CRISIL BB-     155
Issuer not cooperating; Migrated from CRISIL BB+/Stable
Bihani Binayake Cotex Pvt Ltd         CC                 CRISIL BB-     180     Reaffirmed
(Issuer not cooperating; Rating Migrated)
Bihani Binayake Cotex Pvt Ltd         Proposed LT Bk     CRISIL BB-     6.4     Reaffirmed
                                      Loan Fac
(Issuer not cooperating; Rating Migrated)
Blue Nile Developers Pvt Ltd          LT Loan            CRISIL BB-     60
(Issuer not cooperating; Rating Migrated)
Blue Nile Developers Pvt Ltd          Proposed LT Bk     CRISIL BB-     40
                                      Loan Fac
(Issuer not cooperating; Rating Migrated)
Boon Education, Environment & Rural   Proposed LT Bk     CRISIL BB+     61      Reaffirmed
Development Society                   Loan Fac
Boon Education, Environment & Rural   TL                 CRISIL BB+     27      Reaffirmed
Development Society
Brightway Contractors and Developers  CC                 CRISIL B       40      Reaffirmed
Brindco Enterprises Pvt Ltd           CC                 CRISIL BB+     150
Brindco Enterprises Pvt Ltd           Proposed CC Limit  CRISIL BB+     50
C A G Construction Equipment Pvt Ltd  CC                 CRISIL BB+     70
(Issuer not cooperating; Rating Migrated)
C A G Construction Equipment Pvt Ltd  Drop Line          CRISIL BB+     30
                                      Overdraft Fac
(Issuer not cooperating; Rating Migrated)
Captab Biotec Unit - II               CC                 CRISIL D       65      Reaffirmed
Captab Biotec Unit - II               LOC                CRISIL D       35      Reaffirmed
Captab Biotec Unit - II               Proposed CC Limit  CRISIL D       13.7    Reaffirmed
Captab Biotec Unit - II               TL                 CRISIL D       22.5    Reaffirmed
Cascy Forge Products                  CC                 CRISIL BB+     47.5
Issuer not cooperating; Migrated from CRISIL BB+/Stable; Rating Withdrawn
Cascy Forge Products                  LT Loan            CRISIL BB+     15
Issuer not cooperating; Migrated from CRISIL BB+/Stable; Rating Withdrawn
Chopra Traders                        CC                 CRISIL BB      150     Assigned
Classic Cashews                       CC                 CRISIL B+      67.5    Assigned
Cosco India Ltd                       CC                 CRISIL BBB     297.5   Reaffirmed
Cosco India Ltd                       Proposed FB Bk     CRISIL BBB     42.5    Reaffirmed
                                      Limits
Daimler Financial Services India Pvt LProposed LT Bk     CRISIL AAA     30000   Reaffirmed
                                      Loan Fac^
^Interchangeable with short term bank facility
Daimler Financial Services India Pvt  NCD                CRISIL AAA     20000   Reaffirmed 
Ltd    
Daimler India Commercial Vehicles Pvt Proposed LT Bk     CRISIL AAA     10000   Reaffirmed
Ltd                                   Loan Fac
Darjeeling Tea and Chinchona          CC                 CRISIL B+      135.7   Assigned
Association Ltd
Darjeeling Tea and Chinchona          TL                 CRISIL B+      44.1    Assigned
Association Ltd
Dayananda Cold Storage Pvt Ltd        WC Fac             CRISIL B+      3       Assigned
Dayananda Cold Storage Pvt Ltd        TL                 CRISIL B+      28.7    Assigned
Dayananda Cold Storage Pvt Ltd        CC                 CRISIL B+      40      Assigned
Dayananda Cold Storage Pvt Ltd        Proposed LT Bk     CRISIL B+      28.3    Assigned
                                      Loan Fac
Deepak and Company Infra Pvt Ltd      Proposed LT Bk     CRISIL BB-     164
                                      Loan Fac
Issuer not cooperating; Migrated from CRISIL BB-/Stable; Rating Withdrawn
Deveer Decor Pvt Ltd                  CC                 CRISIL B-      75
(Issuer not cooperating; Rating Migrated)
Deveer Decor Pvt Ltd                  TL                 CRISIL B-      190.4
(Issuer not cooperating; Rating Migrated)
East Indian Produce Ltd               TL                 CRISIL BB      11.3    Assigned
East Indian Produce Ltd               CC                 CRISIL BB      49.5    Assigned
Elcom Innovations Pvt Ltd             CC                 CRISIL B-      75
Issuer not cooperating; Rating Withdrawn
Elcom Innovations Pvt Ltd             Proposed FB Bk     CRISIL B-      5
                                      Limits
Issuer not cooperating; Rating Withdrawn
Electro Copper and Alloys ManufacturinCC                 CRISIL BB      70     Upgraded from 
Company                                                                        CRISIL BB-
Electro Copper and Alloys ManufacturinTL                 CRISIL BB      20      Upgraded from 
Company                                                                         CRISIL BB-
Fulcrum Worldwide Software Pvt Ltd    CC                 CRISIL BB      100
(Issuer not cooperating; Rating Migrated)
Fulcrum Worldwide Software Pvt Ltd    Foreign Currency TLCRISIL BB      34
(Issuer not cooperating; Rating Migrated)
Fulcrum Worldwide Software Pvt Ltd    Proposed LT Bk     CRISIL BB      40.5
                                      Loan Fac
(Issuer not cooperating; Rating Migrated)
G.Sankar Timber Depot                 CC                 CRISIL B+      20      Reaffirmed
G.Sankar Timber Depot                 Proposed LT Bk     CRISIL B+      5       Reaffirmed
                                      Loan Fac
Gajalakshmi Bangalore Dyes and ChemicaChannel Financing  CRISIL B+      70      Reaffirmed
Gajalakshmi Bangalore Dyes and ChemicaProposed LT Bk     CRISIL B+      30      Reaffirmed
                                      Loan Fac
Gatiman Auto Pvt Ltd                  CC                 CRISIL B+      46
(Issuer not cooperating; Rating Migrated)
Global Aqua - Kolkata                 TL                 CRISIL B       92      Assigned
Groversons Apparel Pvt Ltd            CC                 CRISIL BB+     75
Issuer not cooperating; Revised from CRISIL BBB-
Groversons Apparel Pvt Ltd            Proposed CC Limit  CRISIL BB+     45
Issuer not cooperating; Revised from CRISIL BBB-
Hal-Ko-Infra Projects                 CC                 CRISIL B       22.5    Reaffirmed
Himcon Engineers India Pvt Ltd        Secured Overdraft  CRISIL BB+     9.5     Reaffirmed
                                      Fac
Outlook revised from Positive and rating reaffirmed
Hind Offshore Pvt Ltd                 Proposed LT Bk     CRISIL BB+     126.3
                                      Loan Fac
(Issuer not cooperating; Rating Migrated)
Hind Offshore Pvt Ltd                 TL                 CRISIL BB+     455.7
(Issuer not cooperating; Rating Migrated)
Honest Marketing Pvt Ltd              CC                 CRISIL BBB     40
Migrated from CRISIL B/Stable; Issuer not cooperating 
Honest Marketing Pvt Ltd              Proposed CC Limit  CRISIL BBB     40
Migrated from CRISIL B/Stable; Issuer not cooperating 
Indian Finance Guaranty Ltd           Proposed LT Bk     CRISIL B       100     Reaffirmed
                                      Loan Fac
IVP Ltd                               CC                 CRISIL BBB-    1100
Iworld Business Solutions Pvt Ltd     CC                 CRISIL BBB     500
Downgraded from CRISIL BBB+
Iworld Digital Solutions Pvt Ltd      CC                 CRISIL BBB-    150
Downgraded from CRISIL BBB
J.P.P. Mills Pvt Ltd                  CC                 CRISIL BBB     220     Reaffirmed
J.P.P. Mills Pvt Ltd                  LT Loan            CRISIL BBB     424     Reaffirmed
Jagmini Micro Knit Pvt Ltd            Export Packing     CRISIL BBB     52.5    Reaffirmed
                                      Credit
Jagmini Micro Knit Pvt Ltd            LT Loan            CRISIL BBB     39.3    Reaffirmed
Jagmini Micro Knit Pvt Ltd            Proposed TL        CRISIL BBB     13.2    Reaffirmed
Jaldacca Tea Plantation Pvt Ltd       CC                 CRISIL BB      45.5    Assigned
Jaldacca Tea Plantation Pvt Ltd       Proposed FB Bk     CRISIL BB      33      Assigned
                                      Limits
JMV Ispat Pvt Ltd                     CC                 CRISIL D       35
(Issuer not cooperating; Rating Migrated)
JMV Ispat Pvt Ltd                     Cash TL            CRISIL D       35
(Issuer not cooperating; Rating Migrated)
JMV Ispat Pvt Ltd                     Proposed LT Bk     CRISIL D       30
                                      Loan Fac
(Issuer not cooperating; Rating Migrated)
JNS Instruments Ltd                   Bill Discounting   CRISIL BB+     700
Issuer not cooperating; Revised from CRISIL BBB-
JNS Instruments Ltd                   Buyer`s Credit     CRISIL BB+     50
Issuer not cooperating; Revised from CRISIL BBB-
JNS Instruments Ltd                   CC                 CRISIL BB+     100
Issuer not cooperating; Revised from CRISIL BBB-
JNS Instruments Ltd                   Inventory Funding  CRISIL BB+     400
                                      Fac
Issuer not cooperating; Revised from CRISIL BBB-
JNS Instruments Ltd                   LT Loan            CRISIL BB+     63
Issuer not cooperating; Revised from CRISIL BBB-
JNS Instruments Ltd                   Proposed LT Bk     CRISIL BB+     7
                                      Loan Fac
Issuer not cooperating; Revised from CRISIL BBB-
Joshi Automobiles Pvt Ltd             Electronic Dealer  CRISIL BB+     139
                                      Financing
                                      Scheme(e-DFS)
(Issuer not cooperating; Rating Migrated)
Joys Steel Impex                      CC                 CRISIL BB-     280     Reaffirmed
K. C. S. Developers                   LT Loan            CRISIL BB+     90
(Issuer not cooperating; Rating Migrated)
Karimala Granites & Aggregates (Pvt) LOverdraft          CRISIL BB      100     Reaffirmed
Kaveri Industries Pvt Ltd             CC                 CRISIL D       30
(Issuer not cooperating; Rating Migrated)
Kaveri Industries Pvt Ltd             Proposed LT Bk     CRISIL D       25
                                      Loan Fac
(Issuer not cooperating; Rating Migrated)
Kaveri Industries Pvt Ltd             TL                 CRISIL D       45
(Issuer not cooperating; Rating Migrated)
Kent Industries                       CC                 CRISIL BBB     120     Reaffirmed
Kent Industries                       Proposed CC Limit  CRISIL BBB     80      Reaffirmed
Kusumgar Corporates Pvt Ltd           TL                 CRISIL BBB     50
Issuer not cooperating; Rating Withdrawn
L & W Construction Pvt Ltd            Overdraft          CRISIL BB+     10
Issuer not cooperating; Revised from CRISIL BBB+
L & W Construction Pvt Ltd            Proposed FB Bk     CRISIL BB+     1990
                                      Limits
Issuer not cooperating; Revised from CRISIL BBB+
Lotus Projects Pvt Ltd                CC                 CRISIL D       75
(Issuer not cooperating; Rating Migrated)
Lotus Projects Pvt Ltd                Proposed LT Bk     CRISIL D       10.5
                                      Loan Fac
(Issuer not cooperating; Rating Migrated)
Lotus Projects Pvt Ltd                TL                 CRISIL D       114.5
(Issuer not cooperating; Rating Migrated)
Maa Ekadashi Mini Modern Rice Mill    CC                 CRISIL BB-     30      Assigned
Maa Ekadashi Mini Modern Rice Mill    TL                 CRISIL BB-     10      Assigned
Madhav Industrial Corporation         CC^                CRISIL BB+     100     Reaffirmed
^Fully interchangeability with LC
Madhav Steels (Ship Breaking Division)CC                 CRISIL BB+     100     Reaffirmed
Manjeet Plastic Industries            CC                 CRISIL B+      15
Assigned; Suspension Revoked 
Medigrowth Hospital Pvt Ltd           Proposed TL        CRISIL B+      5       Reaffirmed
Medigrowth Hospital Pvt Ltd           TL                 CRISIL B+      145     Reaffirmed
Nashik Municipal Corporation          Proposed TL        CRISIL AA-     4000
New Darjeeling Union Tea Co Ltd       CC                 CRISIL BB      50      Reaffirmed
New Darjeeling Union Tea Co Ltd       Proposed LT Bk     CRISIL BB      75      Reaffirmed
                                      Loan Fac
New Darjeeling Union Tea Co Ltd       TL                 CRISIL BB      60      Reaffirmed
New Era Self Help India Ltd           CC                 CRISIL BB-     20
Reaffirmed and Withdrawn
New Era Self Help India Ltd           TL                 CRISIL BB-     40
Reaffirmed and Withdrawn
Orient Color Art Printers Pvt Ltd     CC                 CRISIL B+      12.6    Reaffirmed
Orient Color Art Printers Pvt Ltd     Proposed LT Bk     CRISIL B+      18.7    Reaffirmed
                                      Loan Fac
Orient Color Art Printers Pvt Ltd     TL                 CRISIL B+      15      Reaffirmed
Paayas Agro Foods LLP                 Proposed LT Bk     CRISIL B       0.8     Assigned
                                      Loan Fac
Paayas Agro Foods LLP                 LT Loan            CRISIL B       103.5   Assigned
Paayas Agro Foods LLP                 CC                 CRISIL B       40      Assigned
Pact Industries Ltd                   CC                 CRISIL B+      90
Issuer not cooperating; Migrated from CRISIL BB/Stable
Pact Industries Ltd                   Standby LOC        CRISIL B+      10
Issuer not cooperating; Migrated from CRISIL BB/Stable
Palla Silks Pvt Ltd                   Open CC            CRISIL B+      100
Downgraded from CRISIL BB-/Stable
Paramount Industries                  Bill Discounting   CRISIL BB-     40      Assigned
Pardeep Electricals & Builders Pvt LtdCC                 CRISIL BB      40      Reaffirmed
Parksons Cartamundi Pvt Ltd           CC                 CRISIL BBB     205.2   Reaffirmed
Parksons Cartamundi Pvt Ltd           Proposed WC Fac    CRISIL BBB     135.6   Reaffirmed
Parksons Cartamundi Pvt Ltd           TL                 CRISIL BBB     20      Reaffirmed
Pioneer Plastic Industries Ltd        CC                 CRISIL BB-     50      Assigned
PNB Housing Finance Ltd               LT Loan            CRISIL AA+     11980
Outlook revised from Stable and rating reaffirmed
PNB Housing Finance Ltd               Proposed LT Bk     CRISIL AA+     28020
                                      Loan Fac
Outlook revised from Stable and rating reaffirmed
PNB Housing Finance Ltd               Lower Tier II BondsCRISIL AA+     4000
Negative Outlook revised from Stable and rating reaffirmed
PNB Housing Finance Ltd               Lower Tier II      CRISIL AA+     5000
                                      Bonds Rs.500
                                      Crore 
Negative Outlook revised from Stable and rating reaffirmed
PNB Housing Finance Ltd               NCDs               CRISIL AA+     57000
Negative Outlook revised from Stable and rating reaffirmed
Porus Laboratories Pvt Ltd            CC                 CRISIL BBB+    300
Upgraded from CRISIL BBB/Positive
Porus Laboratories Pvt Ltd            Foreign Currency TLCRISIL BBB+    1290
Upgraded from CRISIL BBB/Positive
Prashant Castech Pvt Ltd              CC                 CRISIL BB+     10
Issuer not cooperating; Revised from CRISIL BBB/Stable Issuer not cooperating
Prashant Castings Pvt Ltd             CC                 CRISIL BB+     10
Issuer not cooperating; Revised from CRISIL BBB
R S B Cottex Ltd                      CC                 CRISIL BBB-    250     Reaffirmed
R S B Cottex Ltd                      Proposed LT Bk     CRISIL BBB-    74.6    Reaffirmed
                                      Loan Fac
R S B Cottex Ltd                      TL                 CRISIL BBB-    438.3   Reaffirmed
R.B.Agarwalla and Co.                 Export Packing     CRISIL BBB-    42.2    Reaffirmed
                                      Credit
R.P.P Infra Projects Ltd              CC                 CRISIL BB+     584.7
Downgraded from CRISIL BBB
R.P.P Infra Projects Ltd              LT Loan            CRISIL BB+     50
Downgraded from CRISIL BBB
Raghav Export                         CC                 CRISIL BB-     52
(Issuer not cooperating; Rating Migrated)
Raghav Export                         Proposed TL        CRISIL BB-     35
(Issuer not cooperating; Rating Migrated)
Rajshekhar Constructions Pvt Ltd      Drop Line          CRISIL B+      150     Reaffirmed
                                      Overdraft Fac
(Issuer not cooperating; Rating Migrated)
Rama Steel Tubes Ltd                  CC                 CRISIL BB+     330
Issuer not cooperating; Revised from CRISIL BBB-
Refex Energy Ltd                      CC                 CRISIL BB+     80      Reaffirmed
(Issuer not cooperating; Rating Migrated)
Refex Energy Ltd                      Proposed WC Fac    CRISIL BB+     345.5   Reaffirmed
(Issuer not cooperating; Rating Migrated)
Refex Energy Ltd                      TL                 CRISIL BB+     30      Reaffirmed
(Issuer not cooperating; Rating Migrated)
Rishita Developers Pvt Ltd            LT Loan            CRISIL BB+     620
(Issuer not cooperating; Rating Migrated)
Sayedabad Tea Co. Ltd                 CC                 CRISIL BB      98.2    Assigned
Sayedabad Tea Co. Ltd                 TL                 CRISIL BB      55.9    Assigned
SCL India Ltd                         CC                 CRISIL B+      70
(Issuer not cooperating; Rating Migrated)
Seabird Marine Services Pvt Ltd       Proposed LT Bk     CRISIL BB+     296.1   Withdrawn
                                      Loan Fac
Seabird Marine Services Pvt Ltd       TL                 CRISIL BB+     448.9   Withdrawn
Shree Gajanan Food Industries         CC                 CRISIL BB-     85      Reaffirmed
Shree Gajanan Rice Mill               CC                 CRISIL BB-     85      Reaffirmed
Solid Stone Co. Ltd                   CC                 CRISIL BB+     138
Sravins Instruments and Systems       CC                 CRISIL BB-     30
(Issuer not cooperating; Rating Migrated)
Sravins Instruments and Systems       Proposed BG        CRISIL BB-     30
(Issuer not cooperating; Rating Migrated)
Sri Lakshmi Constructions-Nellore     Overdraft          CRISIL BB-     50      Reaffirmed
Sri Lakshmi Ganesh Spinning Mills O.E.CC                 CRISIL BB-     20
Division
Issuer not cooperating; Migrated from CRISIL BB-; Rating Withdrawn
Sri Lakshmi Ganesh Spinning Mills O.E.LT Loan            CRISIL BB-     55
Division
Issuer not cooperating; Migrated from CRISIL BB-; Rating Withdrawn
Sterling Publishers Pvt Ltd           CC                 CRISIL BB+     113
(Issuer not cooperating; Rating Migrated)
Sterling Publishers Pvt Ltd           Proposed LT Bk     CRISIL BB+     215.7
                                      Loan Fac
(Issuer not cooperating; Rating Migrated)
Sukumaran G                           CC                 CRISIL B-      100     Reaffirmed
Terai Tea Co. Ltd                     CC                 CRISIL BBB-    256.2   Reaffirmed
Terai Tea Co. Ltd                     LT Loan            CRISIL BBB-    11.8    Reaffirmed
The Kharibari Tea Co. Ltd             TL                 CRISIL BB      10      Assigned
The Kharibari Tea Co. Ltd             CC                 CRISIL BB      54.9    Assigned
The Mahabir Jute Mills Ltd            CC                 CRISIL BB      125
The Mahabir Jute Mills Ltd            TL                 CRISIL BB      55
Trimurti Foodtech Pvt Ltd             CC                 CRISIL D       80
(Issuer not cooperating; Rating Migrated)
Trimurti Foodtech Pvt Ltd             Funded Interest TL CRISIL D       8.6
(Issuer not cooperating; Rating Migrated)
Trimurti Foodtech Pvt Ltd             Proposed LT Bk     CRISIL D       25.4
                                      Loan Fac
(Issuer not cooperating; Rating Migrated)
Trimurti Foodtech Pvt Ltd             TL                 CRISIL D       23.3
(Issuer not cooperating; Rating Migrated)
Trimurti Foodtech Pvt Ltd             WC TL              CRISIL D       61.1
(Issuer not cooperating; Rating Migrated)
United Composheets Pvt Ltd            CC                 CRISIL BB-     55
Upgraded from CRISIL B+/Stable
United Composheets Pvt Ltd            Proposed LT Bk     CRISIL BB-     55
                                      Loan Fac
Upgraded from CRISIL B+/Stable
Urmila Rcp Projects Pvt Ltd           CC                 CRISIL BB-     50      Assigned
Vikas Ecotech Ltd                     CC                 CRISIL BB+     405
Issuer not cooperating; Revised from CRISIL BBB-
Vikas Ecotech Ltd                     Export Packing     CRISIL BB+     360
                                      Credit & Export
                                      Bills Negotiation/
                                      Foreign Bill discounting
Issuer not cooperating; Revised from CRISIL BBB-
Vikas Ecotech Ltd                     TL                 CRISIL BB+     90
Issuer not cooperating; Revised from CRISIL BBB-
Vitson Steel Corp Pvt Ltd             CC                 CRISIL BB+     265
(Issuer not cooperating; Rating Migrated)
Vitson Steel Corp Pvt Ltd             Channel Financing  CRISIL BB+     100
(Issuer not cooperating; Rating Migrated)
Voxco Pigments and Chemicals Pvt Ltd  CC                 CRISIL BB+     102.5
(Issuer not cooperating; Rating Migrated)
Voxco Pigments and Chemicals Pvt Ltd  Proposed LT Bk     CRISIL BB+     2
                                      Loan Fac
(Issuer not cooperating; Rating Migrated)
Voxco Pigments and Chemicals Pvt Ltd  TL                 CRISIL BB+     80
(Issuer not cooperating; Rating Migrated)
VRY Industrial Park LLP               TL                 CRISIL BB      350     Assigned
VSSN Jambaladinni                     CC                 CRISIL B-      210
(Issuer not cooperating; Rating Migrated)
VSSN Kallur                           CC                 CRISIL B-      110
(Issuer not cooperating; Rating Migrated)
VSSN Rajalabanda                      CC                 CRISIL B-      60
(Issuer not cooperating; Rating Migrated)
--------------------------------------------------------------------------------------------
$: 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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