September 20, 2017 / 6:03 AM / a month ago

CRISIL ratings for Indian debt instruments-Sep 20

    Sep 20 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of September 19, 2017.


COMPANY                                INSTRUMENT          RATING        AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Adroit Industries India Ltd             LOC                CRISIL A4+     30      Reaffirmed
Ajay Hi-Tech Agro Foods                 BG                 CRISIL A4      0.4     Assigned
Ajay Hi-Tech Agro Foods                 LOC                CRISIL A4      9.6     Assigned
Alfa Vitrified Pvt Ltd                  BG                 CRISIL A4+     35      Reaffirmed
Aludecor Lamination Pvt Ltd             BG                 CRISIL A3+     5       Reaffirmed
Aludecor Lamination Pvt Ltd             LOC                CRISIL A3+     215     Reaffirmed
Ashika Commodities and Derivatives Pvt  BG                 CRISIL A3      170     Reaffirmed
Ltd
Ashika Commodities and Derivatives Pvt  Proposed ST Bk     CRISIL A3      50      Reaffirmed
Ltd                                     Loan Fac
Ashika Stock Broking Ltd                BG                 CRISIL A3      495.8   Reaffirmed
Bait Logitech Pvt Ltd                   BG                 CRISIL A4      66      Reaffirmed
Bajaj Sons Ltd                          Non-FBL            CRISIL A2      17.5    Reaffirmed
Bhavi International Pvt Ltd             Packing Credit     CRISIL A4      22.5    Reaffirmed
Bina Commercial Corporation             LOC & BG           CRISIL A4      40      Reaffirmed
Butterfly Gandhimathi Appliances Ltd    Bill Discounting   CRISIL A3+     500     Downgraded
                                                                                  from CRISIL
                                                                                  A2
Butterfly Gandhimathi Appliances Ltd    LOC                CRISIL A3+     900     Downgraded
                                                                                  from CRISIL
                                                                                  A2
Celebrity Fashions Ltd                  BG                 CRISIL A4      5       Reaffirmed
Celebrity Fashions Ltd                  LOC                CRISIL A4      110     Reaffirmed
Ciscons Constructions Pvt Ltd           BG                 CRISIL A4      120     Reaffirmed
Earth International Pvt Ltd             Packing Credit     CRISIL A4      25      Reaffirmed
Eurokon Global Exports Pvt Ltd          Foreign            CRISIL A4      20      Reaffirmed
                                        Documentary Bills
                                        Purchase
Goldstone Technologies Ltd              BG                 CRISIL A4      25      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
H. L. Passey Engineering Pvt Ltd        BG                 CRISIL A4+     50      Reaffirmed
Hits Exports                            LOC                CRISIL A4      10      Reaffirmed
Hits Exports                            Packing Credit     CRISIL A4      47.5    Reaffirmed
Inkal Ventures Pvt Ltd                  BG                 CRISIL A4      45      Reaffirmed
Jaya Hind Industries Ltd                BG                 CRISIL A1      105     Reaffirmed
Jaya Hind Industries Ltd                LOC                CRISIL A1      272     Reaffirmed
JBM Auto System Pvt Ltd                 LOC                CRISIL A2+     303.9   Reaffirmed
Kashi Kanchan Pvt Ltd                   BG                 CRISIL A4      40      Reaffirmed
Kashmir Steel Rolling Mills             BG                 CRISIL A4+     10      Reaffirmed
Kaynes Technology India Pvt Ltd         Packing Credit     CRISIL A3      320.5   Assigned
Kaynes Technology India Pvt Ltd         LOC                CRISIL A3      100     Assigned
Kaynes Technology India Pvt Ltd         BG                 CRISIL A3      30      Assigned
KJ Ispat Ltd                            BG                 CRISIL A4      4       Reaffirmed
Komal Cashews                           Overdraft          CRISIL A4      10      Reaffirmed
Kovai Medical Center Research and       Overdraft          CRISIL A2      25      Reaffirmed
Educational Trust
L and D Foods                           BG                 CRISIL A4+     2.5     Upgraded from
                                                                                  CRISIL A4
Lamba International Pvt Ltd             BG                 CRISIL A4+     6       Reaffirmed
Mahalakshmi Spintex Pvt Ltd             Bill Discounting   CRISIL A4+     65      Reaffirmed
                                        under LOC
Mega Link Chains India Pvt Ltd          BG                 CRISIL A4      2       Reaffirmed
Metropoli Fashions Pvt Ltd              Export Packing     CRISIL A4+     190     Upgraded from
                                        Credit                                    CRISIL A4
Nafref Engineers Pvt Ltd                BG                 CRISIL A4      26      Reaffirmed
Perfect Filaments Ltd                   Proposed ST Bk     CRISIL A2      50      Assigned
                                        Loan Fac
Sahalal Rice Mill Pvt Ltd               BG                 CRISIL A4      2.6     Reaffirmed
Sati Granites India Pvt Ltd             Bill Discounting*  CRISIL A4+     45      Reaffirmed
*100 per cent interchangeability between CC/EPC
Sati Granites India Pvt Ltd             Export Packing     CRISIL A4+     30      Reaffirmed
                                        Credit#
# 100 per cent interchangeability between CC/FBD
Sati Granites India Pvt Ltd             LOC                CRISIL A4+     12.5    Reaffirmed
Scon Projects Pvt Ltd                   BG                 CRISIL A3      140     Upgraded from
                                                                                  CRISIL A4+
Shree Nath Ji Dye Stuffs                Overdraft          CRISIL A4      7.5     Reaffirmed
Shree Nath Ji Dye Stuffs                Proposed Buyer     CRISIL A4      30      Reaffirmed
                                        Credit Limit
Shree Ganesh Metaliks Ltd               BG                 CRISIL D       25      Downgraded
                                                                                  from CRISIL
                                                                                  A4
Shree Ganesh Metaliks Ltd               LOC                CRISIL D       140     Downgraded
                                                                                  from CRISIL
                                                                                  A4
Shree Sidhbali Impex Pvt Ltd            LOC                CRISIL A4      100     Reaffirmed
Suja Shoei Industries Pvt Ltd           LOC & BG           CRISIL A3      40      Reaffirmed
Suja Shoei Industries Pvt Ltd           Standby Line of    CRISIL A3      2.5     Reaffirmed
                                        Credit
Vijayasree Foods                        BG                 CRISIL A4      15      Reaffirmed
Vintech Industries Pvt Ltd              BG                 CRISIL A4      4.5     Reaffirmed
Vintech Industries Pvt Ltd              Export Packing     CRISIL A4      6       Reaffirmed
                                        Credit
Vodafone India Ltd                      LOC & BG*          CRISIL A1+     162903.8Reaffirmed
*Interchangeable between Vodafone India Ltd and Vodafone Mobile Services Ltd
Vodafone India Ltd                      Proposed ST Bk     CRISIL A1+     7104.3  Reaffirmed
                                        Loan Fac
Vodafone Mobile Services Ltd            LOC & BG*          CRISIL A1+     30780   Continues on
                                                                                  Rating Watch
                                                                                  with 
                                                                                  Developing
                                                                                  Implications
Vodafone Mobile Services Ltd            Proposed ST Bk     CRISIL A1+     4768.5  Continues on
                                        Loan Fac                                  Rating Watch
                                                                                  with 
                                                                                  Developing
                                                                                  Implications
Walzen Strips Pvt Ltd                   BG                 CRISIL A4+     20      Reaffirmed
Xicon International Ltd                 BG                 CRISIL A4+     30      Reaffirmed


LONG TERM RATINGS:
-------------------
Adroit Industries India Ltd             CC                 CRISIL BB+     160     Reaffirmed
Adroit Industries India Ltd             Credit Limit Under CRISIL BB+     32      Reaffirmed
                                        Gold Card
Adroit Industries India Ltd             TL                 CRISIL BB+     8       Reaffirmed
Ajay Hi-Tech Agro Foods                 CC                 CRISIL B+      200     Reaffirmed
Ajay Hi-Tech Agro Foods                 Proposed LT Bk     CRISIL B+      0.7     Assigned
                                        Loan Fac
Ajay Hi-Tech Agro Foods                 LT Loan            CRISIL B+      19.3    Assigned
Akhand Jyoti Jan Kalyan Sewa Samiti     Overdraft          CRISIL B+      10      Reaffirmed
Alfa Vitrified Pvt Ltd                  CC                 CRISIL BB-     80      Reaffirmed
Alfa Vitrified Pvt Ltd                  Proposed LT Bk     CRISIL BB-     36.7    Reaffirmed
                                        Loan Fac
Alfa Vitrified Pvt Ltd                  TL                 CRISIL BB-     162.6   Reaffirmed
Aludecor Lamination Pvt Ltd             CC                 CRISIL BBB     270     Reaffirmed
Aludecor Lamination Pvt Ltd             LT Loan            CRISIL BBB     150.2   Reaffirmed
Aludecor Lamination Pvt Ltd             Proposed LT Bk     CRISIL BBB     103.8   Reaffirmed
                                        Loan Fac
Aludecor Lamination Pvt Ltd             TL                 CRISIL BBB     60      Assigned
Ashika Commodities and Derivatives Pvt  Overdraft          CRISIL BBB-    18      Reaffirmed
Ltd
Ashika Commodities and Derivatives Pvt  Proposed LT Bk     CRISIL BBB-    162     Reaffirmed
Ltd                                     Loan Fac
Ashika Stock Broking Ltd                Overdraft          CRISIL BBB-    150     Reaffirmed
Ashika Stock Broking Ltd                Proposed LT Bk     CRISIL BBB-    254.2   Reaffirmed
                                        Loan Fac
Attire Creation Company                 Packing Credit     CRISIL BB+     80      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Babulal Becharbhai Zaveri Golds and     CC                 CRISIL BB-     225     Assigned
Diamonds Pvt Ltd
Babulal Becharbhai Zaveri Golds and     LT Loan            CRISIL BB-     29.8    Assigned
Diamonds Pvt Ltd
Bait Logitech Pvt Ltd                   CC                 CRISIL B+      55      Reaffirmed
Bajaj Sons Ltd                          CC                 CRISIL BBB+    250     Reaffirmed
Bajaj Sons Ltd                          LT Loan            CRISIL BBB+    100     Reaffirmed
Bajaj Sons Ltd                          Proposed FB Bk     CRISIL BBB+    17.5    Assigned
                                        Limits
Bajaj Sons Ltd                          CC*                CRISIL BBB+    197.5   Assigned
* Sub limits are Working Capital Demand Loan of Rs 12.00 Crore, Bill Discounting 
of Rs 5.00 Crore, Letter of Credit of Rs 2.00 Crore and Buyers Credit of Rs 2.00 Crore
Banshidhar Construction Pvt Ltd         LT Loan            CRISIL B+      87.5    Reaffirmed
Bhavi International Pvt Ltd             CC                 CRISIL B-      2.5     Reaffirmed
Bhavi International Pvt Ltd             Proposed LT Bk     CRISIL B-      73.2    Reaffirmed
                                        Loan Fac
Bhavi International Pvt Ltd             WC TL              CRISIL B-      1.8     Reaffirmed
Bina Commercial Corporation             CC                 CRISIL B       50      Reaffirmed
Butterfly Gandhimathi Appliances Ltd    CC                 CRISIL BBB     1500    Downgraded
                                                                                  from CRISIL
                                                                                  BBB+
Butterfly Gandhimathi Appliances Ltd    LT Loan            CRISIL BBB     668.5   Downgraded
                                                                                  from CRISIL
                                                                                  BBB+
Butterfly Gandhimathi Appliances Ltd    Proposed LT Bk     CRISIL BBB     811.5   Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB+
Celebrity Fashions Ltd                  Export Packing     CRISIL B-      320     Reaffirmed
                                        Credit
Celebrity Fashions Ltd                  Foreign Bill       CRISIL B-      160     Reaffirmed
                                        Discounting
Celebrity Fashions Ltd                  Funded Interest TL CRISIL B-      175     Reaffirmed
Celebrity Fashions Ltd                  Proposed LT Bk     CRISIL B-      4.6     Reaffirmed
                                        Loan Fac
Celebrity Fashions Ltd                  Standby Line of    CRISIL B-      17.4    Reaffirmed
                                        Credit
Celebrity Fashions Ltd                  TL                 CRISIL B-      6.8     Reaffirmed
Celebrity Fashions Ltd                  WC TL              CRISIL B-      66.2    Assigned
Ciscons Constructions Pvt Ltd           CC                 CRISIL B+      30      Reaffirmed
Creative Labels Pvt Ltd                 CC                 CRISIL BB-     15      Reaffirmed
Creative Labels Pvt Ltd                 TL                 CRISIL BB-     41      Reaffirmed
Dhan Laxmi Agromills India Ltd          CC                 CRISIL B+      50      Reaffirmed
Dhan Laxmi Agromills India Ltd          TL                 CRISIL B+      50      Reaffirmed
Dharmraj Aluminium Industries Pvt Ltd   CC                 CRISIL D       200     Reaffirmed
Earth International Pvt Ltd             CC                 CRISIL B       25      Reaffirmed
Earth International Pvt Ltd             Proposed FB Bk     CRISIL B       25      Reaffirmed
                                        Limits
Eco Sand                                Bill Discounting   CRISIL B       15.6    Reaffirmed
Eco Sand                                Secured Overdraft  CRISIL B       20      Reaffirmed
                                        Fac
Eco Sand                                TL                 CRISIL B       89.4    Reaffirmed
EM Cee Cee Sports Agencies Pvt Ltd      CC                 CRISIL BB-     90      Reaffirmed
Erawat Pharma Ltd                       CC                 CRISIL BB      64.1    Reaffirmed
Erawat Pharma Ltd                       TL                 CRISIL BB      45.9    Reaffirmed
Eurokon Global Exports Pvt Ltd          CC                 CRISIL B+      150     Reaffirmed
Eurokon Global Exports Pvt Ltd          Packing Credit     CRISIL B+      40      Reaffirmed
Exquisite Print And Pack Pvt Ltd        CC                 CRISIL B+      30      Reaffirmed
Exquisite Print And Pack Pvt Ltd        Rupee TL           CRISIL B+      29.4    Reaffirmed
Goldenline Infrastructure Pvt Ltd       Proposed LT Bk     CRISIL D       150     Reaffirmed
                                        Loan Fac
Goldenline Infrastructure Pvt Ltd       TL                 CRISIL D       100     Reaffirmed
Goldstone Technologies Ltd              Overdraft          CRISIL B       20      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Goldstone Technologies Ltd              Proposed LT Bk     CRISIL B       55      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
H. L. Passey Engineering Pvt Ltd        CC                 CRISIL BB-     80      Reaffirmed
Hits Exports                            Foreign Bill       CRISIL B+      22.5    Reaffirmed
                                        Discounting
Hits Exports                            Proposed FB Bk     CRISIL B+      10      Reaffirmed
                                        Limits
Holistic Remedies Pvt Ltd               CC                 CRISIL B+      50      Reaffirmed
Holistic Remedies Pvt Ltd               Proposed LT Bk     CRISIL B+      5       Reaffirmed
                                        Loan Fac
Holistic Remedies Pvt Ltd               TL                 CRISIL B+      5       Reaffirmed
Imperial Shah Stores                    CC                 CRISIL BB-     37.5    Reaffirmed
Imperial Shah Stores                    Proposed LT Bk     CRISIL BB-     62.5    Reaffirmed
                                        Loan Fac
Inkal Ventures Pvt Ltd                  CC                 CRISIL B+      105     Reaffirmed
Innovative Infraprojects Pvt Ltd        TL                 CRISIL D       178     Reaffirmed
Jaya Hind Industries Ltd                CC                 CRISIL A+      360     Upgraded from
                                                                                  CRISIL A
JBM Auto System Pvt Ltd                 CC*                CRISIL A-      1875    Reaffirmed
*Interchangeable with non-fund based limit
JBM Auto System Pvt Ltd                 CC                 CRISIL A-      670     Reaffirmed
JBM Auto System Pvt Ltd                 LT Loan            CRISIL A-      715     Reaffirmed
JBM Auto System Pvt Ltd                 Proposed LT Bk     CRISIL A-      61.3    Assigned
                                        Loan Fac
Kashi Kanchan Pvt Ltd                   CC                 CRISIL B+      150     Reaffirmed
Kashmir Steel Rolling Mills             CC                 CRISIL BB      260     Reaffirmed
Kaynes Technology India Pvt Ltd         LT Loan            CRISIL BBB-    79.5    Assigned
Kaynes Technology India Pvt Ltd         CC                 CRISIL BBB-    330     Assigned
KJ Ispat Ltd                            CC                 CRISIL B-      80      Reaffirmed
KJ Ispat Ltd                            Proposed LT Bk     CRISIL B-      35.8    Reaffirmed
                                        Loan Fac
KJ Ispat Ltd                            TL                 CRISIL B-      3       Reaffirmed
Klassik Enterprises Pvt Ltd             Proposed LT Bk     CRISIL B-      130     Reaffirmed
                                        Loan Fac
Klassik Enterprises Pvt Ltd             TL                 CRISIL B-      170     Reaffirmed
Komal Cashews                           Pledge Loan        CRISIL B       52.5    Issuer Not
                                                                                  Cooperating
Komal Cashews                           Proposed LT Bk     CRISIL B       42.5    Issuer Not
                                        Loan Fac                                  Cooperating
Kovai Medical Center Research and       LT Loan            CRISIL BBB+    385     Reaffirmed
Educational Trust
Kovai Medical Center Research and       Proposed LT Bk     CRISIL BBB+    160     Assigned
Educational Trust                       Loan Fac
L and D Foods                           CC                 CRISIL BB-     17.5    Upgraded from
                                                                                  CRISIL B+
L and D Foods                           TL                 CRISIL BB-     15.3    Upgraded from
                                                                                  CRISIL B+
L and D Foods                           Warehouse Receipts CRISIL BB-     19.7    Upgraded from
                                                                                  CRISIL B+
Lamba International Pvt Ltd             CC                 CRISIL BB      100     Reaffirmed
Lamba International Pvt Ltd             LT Loan            CRISIL BB      11      Reaffirmed
M/s. Rajendra Kumar Sureka & Others     TL                 CRISIL B+      97.5    Reaffirmed
Mahalakshmi Spintex Pvt Ltd             CC                 CRISIL BB-     135     Reaffirmed
Mathru Buildtech Pvt Ltd                CC                 CRISIL BB-     300     Reaffirmed
Mega Link Chains India Pvt Ltd          CC                 CRISIL B+      28      Reaffirmed
Mega Link Chains India Pvt Ltd          Proposed LT Bk     CRISIL B+      0.4     Reaffirmed
                                        Loan Fac
Mega Link Chains India Pvt Ltd          TL                 CRISIL B+      39.6    Reaffirmed
Muthoot Capital Services Ltd            CC                 CRISIL A-      3600    Reaffirmed
Muthoot Capital Services Ltd            LT Loan            CRISIL A-      250     Reaffirmed
Muthoot Capital Services Ltd            Proposed LT Bk     CRISIL A-      2980    Reaffirmed
                                        Loan Fac
Muthoot Capital Services Ltd            WC Demand Loan     CRISIL A-      4200    Reaffirmed
Muthoot Capital Services Ltd            WC TL              CRISIL A-      970     Reaffirmed
Muthoot Fincorp Ltd                     CC                 CRISIL A-      60500   Reaffirmed
Muthoot Fincorp Ltd                     Proposed LT Bk     CRISIL A-      1089.9  Reaffirmed
                                        Loan Fac
Muthoot Fincorp Ltd                     TL                 CRISIL A-      1720.1  Reaffirmed
Muthoot Housing Finance Co. Ltd         CC                 CRISIL BBB+    50      Reaffirmed
Muthoot Housing Finance Co. Ltd         Proposed LT Bk     CRISIL BBB+    708     Reaffirmed
                                        Loan Fac
Muthoot Housing Finance Co. Ltd         TL                 CRISIL BBB+    4242    Reaffirmed
Muthoot Microfin Ltd                    Proposed LT Bk     CRISIL A-      157.2   Reaffirmed
                                        Loan Fac
Muthoot Microfin Ltd                    TL                 CRISIL A-      4342.8  Reaffirmed
Nafref Engineers Pvt Ltd                CC                 CRISIL B-      35      Downgraded
                                                                                  from CRISIL
                                                                                  B+
Patel Motors (Indore) Pvt Ltd           Inventory Funding  CRISIL B+      410     Reaffirmed
                                        Fac
Patel Motors (Indore) Pvt Ltd           Loan Against       CRISIL B+      270     Reaffirmed
                                        Property
Pee Cee Cosma Sope Ltd                  CC                 CRISIL BBB-    57.5    Reaffirmed
Pee Cee Cosma Sope Ltd                  Proposed LT Bk     CRISIL BBB-    25      Reaffirmed
                                        Loan Fac
Perfect Filaments Ltd                   CC                 CRISIL BBB+    800     Assigned
Perfect Filaments Ltd                   TL                 CRISIL BBB+    600     Assigned
Pinnacle Life Science Pvt Ltd           CC                 CRISIL A-      91.5    Upgraded from
                                                                                  CRISIL BBB+
Pinnacle Life Science Pvt Ltd           Corporate Loan     CRISIL A-      53.2    Upgraded from
                                                                                  CRISIL BBB+
Pinnacle Life Science Pvt Ltd           TL                 CRISIL A-      205.3   Upgraded from
                                                                                  CRISIL BBB+
Planet PR Appartment Pvt Ltd            CC                 CRISIL B       80      Reaffirmed
PNB Housing Finance Ltd                 LT Loan            CRISIL AA+     29340   Reaffirmed
PNB Housing Finance Ltd                 Proposed LT Bk     CRISIL AA+     10660   Reaffirmed
                                        Loan Fac
Pooja Printers                          CC                 CRISIL B+      60      Assigned
Pooja Printers                          Proposed LT Bk     CRISIL B+      20      Assigned
                                        Loan Fac
R.P. Poly Packs Pvt Ltd                 Buyer`s Credit     CRISIL BB-     74      Reaffirmed
R.P. Poly Packs Pvt Ltd                 CC                 CRISIL BB-     110     Reaffirmed
R.P. Poly Packs Pvt Ltd                 LOC                CRISIL BB-     70      Reaffirmed
R.P. Poly Packs Pvt Ltd                 TL                 CRISIL BB-     226     Reaffirmed
Rayban Feeds and Hatcheries Pvt Ltd     CC                 CRISIL D       120     Reaffirmed
Rayban Feeds and Hatcheries Pvt Ltd     LT Loan            CRISIL D       110     Reaffirmed
Rayban Feeds and Hatcheries Pvt Ltd     Proposed LT Bk     CRISIL D       20      Reaffirmed
                                        Loan Fac
S. Rasiklal and Co.                     Adhoc Limit        CRISIL D       10      Reaffirmed
S. Rasiklal and Co.                     Foreign Exchange   CRISIL D       6       Reaffirmed
                                        Forward
S. Rasiklal and Co.                     Packing Credit     CRISIL D       46.5    Reaffirmed
S. Rasiklal and Co.                     Post Shipment      CRISIL D       157.5   Reaffirmed
                                        Credit
S. Rasiklal and Co.                     Proposed LT Bk     CRISIL D       120     Reaffirmed
                                        Loan Fac
Sachdeva Home Furnishing Pvt Ltd        CC                 CRISIL BB-     50      Reaffirmed
Sachdeva Home Furnishing Pvt Ltd        TL                 CRISIL BB-     52.6    Reaffirmed
Sahalal Rice Mill Pvt Ltd               CC                 CRISIL B+      20      Reaffirmed
Sahalal Rice Mill Pvt Ltd               TL                 CRISIL B+      40      Reaffirmed
Sambashiva Cotton Industries            CC                 CRISIL B       35      Reaffirmed
Sambashiva Cotton Industries            LT Loan            CRISIL B       28      Reaffirmed
Sambashiva Cotton Industries            Proposed LT Bk     CRISIL B       17      Reaffirmed
                                        Loan Fac
Sati Granites India Pvt Ltd             Proposed LT Bk     CRISIL BB-     23.1    Reaffirmed
                                        Loan Fac
Sati Granites India Pvt Ltd             TL                 CRISIL BB-     72      Reaffirmed
Scon Projects Pvt Ltd                   CC                 CRISIL BBB-    75      Upgraded from
                                                                                  CRISIL BB+
Shambhu Dayal Jain and Company          CC                 CRISIL BB-     50      Reaffirmed
Shree Ganesh Metaliks Ltd               CC                 CRISIL D       790     Downgraded
                                                                                  from CRISIL
                                                                                  B-
Shree Ganesh Metaliks Ltd               TL                 CRISIL D       1895    Downgraded
                                                                                  from CRISIL
                                                                                  B-
Shree Nath Ji Dye Stuffs                Proposed CC Limit  CRISIL B       25      Reaffirmed
Shree Nath Ji Dye Stuffs                Proposed LT Bk     CRISIL B       37.5    Reaffirmed
                                        Loan Fac
Shree Sidhbali Impex Pvt Ltd            CC                 CRISIL B       100     Reaffirmed
Shree Sidhbali Impex Pvt Ltd            Proposed LT Bk     CRISIL B       200     Reaffirmed
                                        Loan Fac
Siddhi Vinayak Industries               CC                 CRISIL BB-     110     Reaffirmed
Spray Alcans                            CC                 CRISIL D       25      Reaffirmed
Spray Alcans                            Proposed LT Bk     CRISIL D       1       Reaffirmed
                                        Loan Fac
Spray Alcans                            TL                 CRISIL D       52      Reaffirmed
Sree Sree Gangadhar Rice Mill Pvt Ltd   CC                 CRISIL B+      49      Reaffirmed
SRM Motors Pvt Ltd                      CC                 CRISIL B       70      Reaffirmed
SRM Motors Pvt Ltd                      Channel Financing  CRISIL B       100     Reaffirmed
SRM Motors Pvt Ltd                      Proposed LT Bk     CRISIL B       20      Reaffirmed
                                        Loan Fac
SRM Motors Pvt Ltd                      Standby Line of    CRISIL B       10      Reaffirmed
                                        Credit
Suja Shoei Industries Pvt Ltd           CC                 CRISIL BBB-    240     Reaffirmed
Suja Shoei Industries Pvt Ltd           Export Packing     CRISIL BBB-    20      Reaffirmed
                                        Credit
Suja Shoei Industries Pvt Ltd           Proposed LT Bk     CRISIL BBB-    8.4     Reaffirmed
                                        Loan Fac
Suja Shoei Industries Pvt Ltd           TL                 CRISIL BBB-    220     Reaffirmed
Sundaram Asset Management Company Ltd   Sundaram Capital   CRISIL AAA     0       Assigned
                                        Protection         (SO) 
                                        Oriented Scheme Series 19 (3.5 years)
Sundaram Asset Management Company Ltd   Sundaram Capital   CRISIL AAA     0       Assigned
                                        Protection         (SO) 
                                        Oriented Scheme Series 20 (3.5 years) 
Swastik Agro Impex (India) Pvt Ltd      Overdraft          CRISIL BB-     50      Reaffirmed
V. P. M. Sankar and Son                 CC                 CRISIL B+      65      Upgraded from
                                                                                  CRISIL B
V. P. M. Sankar and Son                 Proposed LT Bk     CRISIL B+      10      Upgraded from
                                        Loan Fac                                  CRISIL B
Vashu Yarn Mills India Pvt Ltd          CC                 CRISIL D       93.2    Assigned
Vashu Yarn Mills India Pvt Ltd          LOC*               CRISIL D       10      Assigned
* It is working capital letter of credit
Vashu Yarn Mills India Pvt Ltd          TL                 CRISIL D       46.8    Assigned
Vijayasree Foods                        CC                 CRISIL B+      60      Reaffirmed
Vijayasree Foods                        LT Loan            CRISIL B+      5       Reaffirmed
Vintech Industries Pvt Ltd              CC                 CRISIL B+      17      Reaffirmed
Vintech Industries Pvt Ltd              Proposed LT Bk     CRISIL B+      9.2     Reaffirmed
                                        Loan Fac
Vintech Industries Pvt Ltd              TL                 CRISIL B+      93.3    Reaffirmed
Vodafone India Ltd                      CC & WC demand loanCRISIL AA      15000   Reaffirmed
Vodafone India Ltd                      LOC & BG*          CRISIL AA      54000   Reaffirmed
*Interchangeable between Vodafone India Ltd and Vodafone Mobile Services Ltd
Vodafone India Ltd                      LT Loan            CRISIL AA      1000    Reaffirmed
Vodafone India Ltd                      Proposed LT Bk     CRISIL AA      5780    Reaffirmed
                                        Loan Fac
Vodafone Mobile Services Ltd            LT Bk Fac          CRISIL AA      4772.5  Continues on
                                                                                  Rating Watch
                                                                                  with 
                                                                                  Developing
                                                                                  Implications
Vodafone Mobile Services Ltd            Rupee TL           CRISIL AA      9679    Reaffirmed
Walzen Strips Pvt Ltd                   CC                 CRISIL BB      170     Reaffirmed
Xicon International Ltd                 CC                 CRISIL BB-     30      Reaffirmed
Xicon International Ltd                 Proposed LT Bk     CRISIL BB-     20      Reaffirmed
                                        Loan Fac
--------------------------------------------------------------------------------------------
$: 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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