October 8, 2018 / 9:56 AM / 2 months ago

CRISIL ratings for Indian debt instruments-Oct 8

    Oct 8 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of October 5, 2018.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aarti Drugs Ltd                         WC Fac             CRISIL A1      1060    Reaffirmed
Aditya Birla Renewables Ltd             Overdraft          CRISIL A1+     20      Reaffirmed
Amba Shakti Ispat Ltd                   BG                 CRISIL A4+     30      Assigned
Amba Shakti Ispat Ltd                   LOC                CRISIL A4+     120     Assigned
BIC Chemicals and Packagings Pvt Ltd    Inland/Import LOC  CRISIL A4+     18.3    Upgraded
                                                                                  From CRISIL
                                                                                  A4
Biorad Medisys Pvt Ltd                  LOC                CRISIL A4+     30      Reaffirmed
Clad Metal India Pvt Ltd                LOC                CRISIL A3+     300     Reaffirmed
Essel Mining and Industries Ltd         BG#                CRISIL A1+     1000    Reaffirmed
#Performance bank guarantee
Fleetguard Filters Pvt Ltd              Bill Discounting   CRISIL A1+     140     Reaffirmed
Fleetguard Filters Pvt Ltd              Supplier Bill      CRISIL A1+     130     Reaffirmed
                                        Discounting
Hero Ecotech Ltd                        BG#                CRISIL A2      50      Reaffirmed
#Fully interchangeable with Letter of Credit
Hero Ecotech Ltd                        Bill Discounting   CRISIL A2      200     Reaffirmed
Hero Ecotech Ltd                        LOC^               CRISIL A2      50      Reaffirmed
^Fully interchangeable with Bank Guarantee
Hero Exports                            BG                 CRISIL A2      10      Reaffirmed
Hero Exports                            Bill Discounting   CRISIL A2      100     Reaffirmed
Hero Exports                            LOC                CRISIL A2      90      Reaffirmed
Hero Housing Finance Ltd                CP                 CRISIL A1+     1000    Reaffirmed
Indian Marine Industries                BG                 CRISIL A4      0.1     Reaffirmed
Indian Marine Industries                Export Bill        CRISIL A4      30      Reaffirmed
                                        Purchase
                                        -Discounting
Indian Railway Finance Corporation Ltd  ST Debt Programme@ CRISIL A1+     150000  Reaffirmed
@Total short-term bank borrowings and borrowings under the rated short-term debt programme not
to exceed Rs.12000 crore at any point in time.
Injectoplast Pvt Ltd                    BG                 CRISIL A2      20      -
(Continues on 'Rating Watch with Negative Implications')
Injectoplast Pvt Ltd                    LOC                CRISIL A2      50      -
(Continues on 'Rating Watch with Negative Implications')
Jadhao Gears Ltd                        Proposed ST Bk     CRISIL A3      53      Reaffirmed
                                        Loan Fac
Juniper Constructions Pvt Ltd           BG                 CRISIL A4+     45      Reaffirmed
Lalwani Ferro Alloys Ltd                BG                 CRISIL A2      15      Assigned
Lalwani Ferro Alloys Ltd                LOC                CRISIL A2      1010    Assigned
Lalwani Ferro Alloys Ltd                Packing Credit in  CRISIL A2      160     Assigned
                                        Foreign Currency
Lalwani Ferro Alloys Ltd                Proposed ST Bk     CRISIL A2      4       Assigned
                                        Loan Fac
Madan Mohan Rice Mill Pvt Ltd           BG                 CRISIL A4+     2.9     Assigned
Mangal Industries Ltd                   BG                 CRISIL A1      15      Upgraded
                                                                                  from CRISIL 
                                                                                  A2+
Mangal Industries Ltd                   Export Packing     CRISIL A1      40      Upgraded
                                        Credit                                    from CRISIL 
                                                                                  A2+ 
Mangal Industries Ltd                   LOC                CRISIL A1      100     Upgraded
                                                                                  From CRISIL 
                                                                                  A2+  
Mangal Industries Ltd                   LOC & BG           CRISIL A1      150     Upgraded
                                                                                  From CRISIL
                                                                                  A2+
Mangal Industries Ltd                   Packing Credit in  CRISIL A1      300     Upgraded
                                        Foreign Currency                          from CRISIL
                                                                                  A2+ 
P.K. Sulphike                           BG                 CRISIL A4      80      Reaffirmed
Pinnacle Life Science Pvt Ltd           LOC                CRISIL A2+     50      Reaffirmed
Pinnacle Life Science Pvt Ltd           Pre Shipment       CRISIL A2+     104.1   Assigned
                                        Finance
S.R. Ravi                               BG                 CRISIL A4+     140     Reaffirmed
Sarju Vitrified Pvt Ltd                 BG                 CRISIL A4      38.8    Assigned
SCOPE T & M Pvt Ltd                     BG                 CRISIL A3+     200     -
(Migrated from 'CRISIL A3+ ISSUER NOT COOPERATING')
Shyam Ferro Alloys Ltd                  BG                 CRISIL A1      100     Reaffirmed
Shyam Ferro Alloys Ltd                  LOC                CRISIL A1      3350    Reaffirmed
Shyam Ferro Alloys Ltd                  Proposed ST Bk     CRISIL A1      800     Reaffirmed
                                        Loan Fac
Solo Metals Pvt Ltd                     BG                 CRISIL A4+     15      Reaffirmed
Sri Saravana Spinning Mills Pvt Ltd     ST Bk Fac          CRISIL A2+     50      Reassigned
Subhlaxmi Syntex Ltd                    BG                 CRISIL A4+     6       Assigned
Sundaram Finance Ltd                    CP                 CRISIL A1+     60000   Reaffirmed
Vicky Fashion Ltd                       Packing Credit     CRISIL A4+     20      Reaffirmed
Sanco Industries Ltd                    BG                 CRISIL D       20      Downgraded
                                                                                  from CRISIL
                                                                                  A4+


MEDIUM TERM RATINGS:
-------------------
Sundaram Finance Ltd                    FD Programme       FAAA           -       Reaffirmed



LONG TERM RATINGS:
-------------------
A. Duraisamy Modern Rice Mill           Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Aarti Drugs Ltd                         CC                 CRISIL A       300     Reaffirmed
Aarti Drugs Ltd                         Proposed WC Fac    CRISIL A       1.4     Reaffirmed
Aarti Drugs Ltd                         TL                 CRISIL A       2698.6  Reaffirmed
Aarti Drugs Ltd                         WC Fac             CRISIL A       8400    Reaffirmed
Abeera Beverages Pvt Ltd                Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Aditya Birla Renewables Ltd             BG                 CRISIL AA      700     Reaffirmed
Aditya Birla Renewables Ltd             TL                 CRISIL AA      722     Reaffirmed
Aditya Birla Renewables SPV 1 Ltd       BG                 CRISIL AA      30      Reaffirmed
Aditya Birla Renewables SPV 1 Ltd       TL                 CRISIL AA      743.2   Reaffirmed
Amba Shakti Ispat Ltd                   CC                 CRISIL BB      300     Assigned
Arikkat Trades and Exports              Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Arrow Cables Ltd                        Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Baazar Style Retail Pvt Ltd             Proposed CC Limit  CRISIL BBB+    200     Assigned
Bhavik Polymers (P) Ltd                 CC                 CRISIL B+      75      Reaffirmed
BIC Chemicals and Packagings Pvt Ltd    CC                 CRISIL BB-     40      Upgraded
                                                                                  From CRISIL B+
Biorad Medisys Pvt Ltd                  CC                 CRISIL BB+     250     Reaffirmed
Biorad Medisys Pvt Ltd                  Proposed WC Fac    CRISIL BB+     30.4    Reaffirmed
Biorad Medisys Pvt Ltd                  TL                 CRISIL BB+     159.6   Reaffirmed
Clad Metal India Pvt Ltd                CC                 CRISIL BBB     30      Reaffirmed
Clad Metal India Pvt Ltd                TL                 CRISIL BBB     80      Reaffirmed
Dashrath Prasad Fertilizers Pvt Ltd     Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
De`S Technico Pvt Ltd                   Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Delhi International Airport Ltd         Proposed Rupee TL  CRISIL AA-     56160   Assigned
Delhi International Airport Ltd         WC Fac             CRISIL AA-     3840    Assigned
Deo Mangal Memorial Trust               Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
DSP Infratech Pvt Ltd                   Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Elico Ltd                               Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Essel Mining and Industries Ltd         CC*                CRISIL AA-     4950    Reaffirmed
*Fully interchangeable with packing credit/post-shipment discounting/bank guarantee/letter of
credit and any other non-fund-based bank facility
Essel Mining and Industries Ltd         Foreign Currency TLCRISIL AA-     1850    Reaffirmed
Essel Mining and Industries Ltd         Proposed CC Limit  CRISIL AA-     2000    Reaffirmed
Essel Mining and Industries Ltd         Proposed Foreign   CRISIL AA-     100     Reaffirmed
                                        Currency TL
Essel Mining and Industries Ltd         TL                 CRISIL AA-     20100   Reaffirmed
Eugen Laboratries Pvt Ltd               Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Euro Panel Products Pvt Ltd             CC                 CRISIL BB      100     Reaffirmed
Euro Panel Products Pvt Ltd             TL                 CRISIL BB      48      Reaffirmed
Euro Panel Products Pvt Ltd             Proposed LT Bk     Withdrawn      37      Reaffirmed
                                        Loan Fac
Exodus Futura Knit Pvt Ltd              Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Fleetguard Filters Pvt Ltd              CC*                CRISIL AA      430     Reaffirmed
*Interchangeable with working capital demand loan to the extent of Rs.40.0 crore and export
finance to the extent of Rs.30.0 cror
French Motor Car Co Ltd                 Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
GNA Axles Ltd                           Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Harvest Gold Industries Pvt Ltd         CC                 CRISIL BBB+    15      -
Continues on 'Rating Watch with Positive Implications' 
Harvest Gold Industries Pvt Ltd         Proposed LT Bk     CRISIL BBB+    85      -
                                        Loan Fac
Continues on 'Rating Watch with Positive Implications' 
Hero Ecotech Ltd                        CC*                CRISIL BBB+    500     Reaffirmed
*Fully interchangeable with Working Capital Demand Loan and interchangeable with Non-Fund Based
limits to the extent of Rs. 10 Crore
Hero Ecotech Ltd                        WC TL              CRISIL BBB+    100     Reaffirmed
Hero Ecotech Ltd                        CC**               CRISIL BBB+    400     Reaffirmed
**Fully interchangeable with Non-Fund based limits
Hero Ecotech Ltd                        CC                 CRISIL BBB+    50      Reaffirmed
Hero Exports                            Export Packing     CRISIL BBB+    300     Reaffirmed
                                        Credit*
*Interchangeable with Cash Credit & Bill discounting to the extent of Rs 15 crore
Hero Exports                            Overdraft          CRISIL BBB+    100     Reaffirmed
Hero Exports                            Proposed LT Bk     CRISIL BBB+    280     Reaffirmed
                                        Loan Fac
Hero Exports                            Export Packing     CRISIL BBB+    150     Reaffirmed
                                        Credit^
^Fully Interchangeable with Letter of Credit, Bill Discounting & Cash Credi
Hero Exports                            Export Packing     CRISIL BBB+    150     Reaffirmed
                                        Credit#
# Interchangeable with Cash Credit & Bill discounting to the extent of Rs 15 crore
Hero Housing Finance Ltd                Proposed LT Bk     CRISIL AA+     4000    Reaffirmed
                                        Loan Fac
Hero Housing Finance Ltd                NCD                CRISIL AA+     1000    Assigned
Hero Housing Finance Ltd                NCD                CRISIL AA+     500     Reaffirmed
India Infradebt Ltd                     NCD                CRISIL AAA     20000   Assigned
India Infradebt Ltd                     NCD                CRISIL AAA     40000   Reffirmed
India Infradebt Ltd                     NCD                CRISIL AAA     2000    Reffirmed
India Infradebt Ltd                     NCD                CRISIL AAA     40000   Reffirmed
India Infradebt Ltd                     Subordinated Debt  CRISIL AAA     2500    Reffirmed
Indian Marine Industries                Export Packing     CRISIL B+      60      Reaffirmed
                                        Credit
Indian Marine Industries                Proposed LT Bk     CRISIL B+      9.9     Reaffirmed
                                        Loan Fac
Indian Railway Finance Corporation Ltd  LT Borrowing       CRISIL AAA     549400  Assigned
                                        Programme
Indian Railway Finance Corporation Ltd  LT Borrowing       CRISIL AAA     400000  Reaffirmed
                                        Programme
Indian Railway Finance Corporation Ltd  NCDs               CRISIL AAA     616840  Reaffirmed
Indian Railway Finance Corporation Ltd  Bonds              CRISIL AAA     1342790 Reaffirmed
Injectoplast Pvt Ltd                    CC                 CRISIL BBB+    150     -
(Continues on 'Rating Watch with Negative Implications')
Injectoplast Pvt Ltd                    Proposed LT Bk     CRISIL BBB+    105     -
                                        Loan Fac
(Continues on 'Rating Watch with Negative Implications')
Jadhao Gears Ltd                        CC                 CRISIL BBB-    105     Reaffirmed
Jadhao Gears Ltd                        Proposed LT Bk     CRISIL BBB-    52      Reaffirmed
                                        Loan Fac
Jagdamba Sponge Pvt Ltd                 Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Jain Coal Services                      CC                 CRISIL BB      150     Reaffirmed
Jain Coal Services                      Proposed LT Bk     CRISIL BB      250     Reaffirmed
                                        Loan Fac
Jeans Knit Pvt Ltd                      Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
John Deere Financial India Pvt Ltd      Proposed LT Bk     CRISIL AAA     80      Reaffirmed
                                        Loan Fac
John Deere Financial India Pvt Ltd      TL                 CRISIL AAA     2620    Reaffirmed
Juniper Constructions Pvt Ltd           CC                 CRISIL BB-     30      Reaffirmed
Juniper Constructions Pvt Ltd           Proposed LT Bk     CRISIL BB-     3.9     Reaffirmed
                                        Loan Fac
Kalosona Himghar Udyog Pvt Ltd          Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Kongunadu Educational Charitable Trust  Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Kun Aero Space Pvt Ltd                  CC                 CRISIL BB-     50      Reaffirmed
Kun Aero Space Pvt Ltd                  LT Loan            CRISIL BB-     50      Reaffirmed
Lalwani Ferro Alloys Ltd                CC                 CRISIL BBB+    381     Assigned
Lalwani Ferro Alloys Ltd                Foreign Bill       CRISIL BBB+    160     Assigned
                                        Discounting
Lalwani Ferro Alloys Ltd                Proposed LT Bk     CRISIL BBB+    40      Assigned
                                        Loan Fac
Lan Mark Shops India Pvt Ltd            Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Madan Mohan Rice Mill Pvt Ltd           CC                 CRISIL BB      67.5    Assigned
Mahalekshmi Silks                       CC                 CRISIL BB      90      Reaffirmed
Mahalekshmi Silks                       Proposed LT Bk     CRISIL BB      50      Reaffirmed
                                        Loan Fac
Mahalekshmi Silks                       TL                 CRISIL BB      20      Reaffirmed
Mangal Industries Ltd                   CC                 CRISIL A       375     Upgraded
                                                                                  From CRISIL A-
Mangal Industries Ltd                   LT Loan            CRISIL A       1959    Upgraded
                                                                                  From CRISIL A-
Mangal Industries Ltd                   Proposed LT Bk     CRISIL A       700     Upgraded
                                        Loan Fac                                  from CRISIL A-
Mangal Industries Ltd                   Proposed WC Fac    CRISIL A       551.1   Upgraded
                                                                                  From CRISIL A-
Moksha Foods and Beverages Pvt Ltd      Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Mythri Infra                            Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Nalin Lease Finance Ltd                 CC                 CRISIL BB-     75      Reaffirmed
Nayan Constructions                     Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
New Sri Balaji Poultry Farm             Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Nivedita Rice Mill                      Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
O2 Spa Salon Pvt Ltd                    Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Ovobel Foods Ltd                        Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Ozone Infra Con Pvt Ltd                 Proposed TL        CRISIL BB-     780     Assigned
P.K. Sulphike                           CC                 CRISIL B       80      Reaffirmed
Pinnacle Life Science Pvt Ltd           CC                 CRISIL A-      51.3    Reaffirmed
Pinnacle Life Science Pvt Ltd           Corporate Loan     CRISIL A-      47      Reaffirmed
Pinnacle Life Science Pvt Ltd           TL                 CRISIL A-      247.6   Reaffirmed
Pooja Sponge Pvt Ltd                    Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Ready Roti India Pvt Ltd                CC                 CRISIL BBB+    5
(Continues on 'Rating Watch with Positive Implications' )
Ready Roti India Pvt Ltd                Proposed LT Bk     CRISIL BBB+    16.6
                                        Loan Fac
(Continues on 'Rating Watch with Positive Implications' )
Ready Roti India Pvt Ltd                TL                 CRISIL BBB+    178.4
(Continues on 'Rating Watch with Positive Implications' )
Rocks Forever Inc                       Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
S.R. Ravi                               CC                 CRISIL BB      50      Upgraded
                                                                                  From CRISIL
                                                                                  BB-
Sakthi Exports                          Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Sanco Industries Ltd                    CC                 CRISIL D       275     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Sanco Industries Ltd                    LOC                CRISIL D       184     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Sanco Industries Ltd                    Proposed LT Bk     CRISIL D       11      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Sarju Vitrified Pvt Ltd                 LT Loan            CRISIL B+      236.2   Assigned
Sarju Vitrified Pvt Ltd                 CC                 CRISIL B+      75      Assigned
Satya Surya Aluminium Industries Ltd    Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
SCOPE T & M Pvt Ltd                     CC                 CRISIL BBB     120     -
(Migrated from 'CRISIL BBB/Stable ISSUER NOT COOPERATING')
SCOPE T & M Pvt Ltd                     Proposed BG        CRISIL BBB     220     -
(Migrated from 'CRISIL BBB/Stable ISSUER NOT COOPERATING')
SCOPE T & M Pvt Ltd                     Proposed CC Limit  CRISIL BBB     60      -
(Migrated from 'CRISIL BBB/Stable ISSUER NOT COOPERATING')
SCV SKY Vision                          Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Shree Ganesh Automobiles                Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Shree Hanuman Pulses                    Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Shree Raja Ram Prints Pvt Ltd           Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Shreegopal Govind Sponge Pvt Ltd        Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Shruti Industries - Ahmednagar          Proposed LT Bk     CRISIL B+      80      Assigned
                                        Loan Fac
Shyam Ferro Alloys Ltd                  CC                 CRISIL A       1500    Reaffirmed
Shyama Jewels (Gonikoppal) Pvt Ltd      CC                 CRISIL BBB-    100     Reaffirmed
Shyama Jewels (Madikeri) Pvt Ltd        CC                 CRISIL BBB-    100     Reaffirmed
Shyama Jewels (Puttur) Pvt Ltd          CC                 CRISIL BBB-    230     Reaffirmed
Sindhiya Plastic Industries             Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Sky Impex                               Proposed LT Bk     CRISIL BB-     70      Assigned
                                        Loan Fac
Solo Metals Pvt Ltd                     CC                 CRISIL BB      232.5   Reaffirmed
Sri Bhagyalakshmi Cotton Industries     CC                 CRISIL B       70      Assigned
Sri Bhagyalakshmi Cotton Industries     LT Loan            CRISIL B       30      Assigned
Sri Saravana Spinning Mills Pvt Ltd     CC                 CRISIL A-      387.5   Reaffirmed
Sri Saravana Spinning Mills Pvt Ltd     LT Loan            CRISIL A-      462.5   Reaffirmed
SS Modern Rice Industry                 Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Subhlaxmi Syntex Ltd                    TL                 CRISIL BB+     106.7   Assigned
Subhlaxmi Syntex Ltd                    Proposed LT Bk     CRISIL BB+     2.3     Assigned
                                        Loan Fac
Subhlaxmi Syntex Ltd                    CC                 CRISIL BB+     130     Assigned
Sundaram Finance Ltd                    Proposed LT Bk     CRISIL AAA     25000   Reaffirmed
                                        Loan Fac
Sundaram Finance Ltd                    Tier-II Bonds      CRISIL AAA     670     Assigned
Sundaram Finance Ltd                    Tier-II Bonds      CRISIL AAA     17001   Reaffirmed
Sundaram Finance Ltd                    NCD                CRISIL AAA     10000   Reaffirmed
Sundaram Finance Ltd                    NCD                CRISIL AAA     31800   Reaffirmed
Swan Agri Products Pvt Ltd              CC                 CRISIL BB      120     Reaffirmed
TGS Minmet Pvt Ltd                      Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Udayakumar Modern Rice Mill             Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Vaishnavi Infracon India Pvt Ltd        Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Varsha Construction                     Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Vertice Global Pvt Ltd                  Ratings            -              -       -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Vicky Fashion Ltd                       Bill Discounting   CRISIL BB      5       Reaffirmed
Vicky Fashion Ltd                       Overdraft          CRISIL BB      110     Reaffirmed
Vijetha Super Market                    TL                 CRISIL B+      25      Assigned
Vijetha Super Market                    Proposed LT Bk     CRISIL B+      35      Assigned
                                        Loan Fac
Vijetha Super Market                    Drop Line          CRISIL B+      35      Assigned
                                        Overdraft Fac
Vijetha Super Market                    Overdraft          CRISIL B+      25      Assigned
Vishesh Diagnostics Pvt Ltd             Corporate Loan     CRISIL BB+     18.8    Downgraded
                                                                                  fromCRISIL
                                                                                  BBB-
Vishesh Diagnostics Pvt Ltd             LT Loan            CRISIL BB+     1727.5  Downgraded
                                                                                  fromCRISIL
                                                                                  BBB-

--------------------------------------------------------------------------------------------
$: 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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