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CRISIL ratings for Indian debt instruments-Sep 28

    Sep 28  - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of September 25, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT  MOVEMENT
                                                                       (RS.MLN)
------                                ----------         ------        -----   ---------
SHORT TERM RATINGS:
-------------------
Allengers Medical Systems Ltd          BG                CRISIL A2+    220    Reaffirmed
Alliance Commercial Transport          Overdraft         CRISIL A4     9.8    -
(Issuer Not Cooperating; Rating Migrated)
Ascent Yarns Pvt Ltd                   BG                CRISIL A4+    6.5    Revised from
                                                                              CRISIL A3
(Issuer Not Cooperating)
Ascent Yarns Pvt Ltd                   LOC               CRISIL A4+    20     Revised from
                                                                              CRISIL A3
(Issuer Not Cooperating)
Bharti Airtel Ltd                      CP                CRISIL A1+    150000 Reaffirmed
Bharti Hexacom Ltd                     CP                CRISIL A1+    35000  Reaffirmed
BP Plyboard Pvt Ltd                    BG                CRISIL A4+    8.5    Reaffirmed
BP Plyboard Pvt Ltd                    Foreign Bill      CRISIL A4+    6      Reaffirmed
                                       Negotiation
BP Plyboard Pvt Ltd                    LOC               CRISIL A4+    8      Reaffirmed
Britannia Industries Ltd               Buyers Finance    CRISIL A1+    300    Reaffirmed
Britannia Industries Ltd               LOC & BG          CRISIL A1+    1500   Reaffirmed
Britannia Industries Ltd               Proposed ST Bk    CRISIL A1+    700    Reaffirmed
                                       Loan Fac
Britannia Industries Ltd               CP                CRISIL A1+    12790  Reaffirmed
Chiniwalas Pvt Ltd                     BG                CRISIL A4+    60     Reaffirmed
Cotmac Electronics Pvt Ltd             BG                CRISIL A2     60     -
(Continues on 'Rating Watch with Negative Implications')
Cotmac Electronics Pvt Ltd             Bill Discounting  CRISIL A2     30     -
                                       under LOC
(Continues on 'Rating Watch with Negative Implications')
Driplex Water Engineering Pvt Ltd      BG                CRISIL A2+    2400   Migrated from
                                                                              CRISIL A2+
Driplex Water Engineering Pvt Ltd      LOC               CRISIL A2+    200    Migrated from
                                                                              CRISIL A2+
Driplex Water Engineering Pvt Ltd      Proposed BG       CRISIL A2+    500    Migrated from
                                                                              CRISIL A2+
Flow Tech Power                        BG                CRISIL A4     5      -
(Issuer Not Cooperating; Rating Migrated)
Flow Tech Power                        LOC               CRISIL A4     35     -
(Issuer Not Cooperating; Rating Migrated)
Flow Tech Power                        SME Credit        CRISIL A4     2.5    -
(Issuer Not Cooperating; Rating Migrated)
Jaipan Industries Ltd                  Packing Credit    CRISIL A4+    10     Reaffirmed
Kanchan Vanijya Pvt Ltd                Packing Credit    CRISIL A4     166    -
(Issuer Not Cooperating; Rating Migrated)
Kanchan Vanijya Pvt Ltd                Post Shipment     CRISIL A4     54     -
                                       Credit
(Issuer Not Cooperating; Rating Migrated)
Linnhoff India Pvt Ltd                 BG                CRISIL A4+    50     -
(Issuer Not Cooperating; Rating Migrated)
Linnhoff India Pvt Ltd                 Inland/Import LOC CRISIL A4+    50     -
(Issuer Not Cooperating; Rating Migrated)
Linnhoff India Pvt Ltd                 Overdraft         CRISIL A4+    65     -
(Issuer Not Cooperating; Rating Migrated)
Lohiya Industries                      BG                CRISIL A2     5      Reaffirmed
Lohiya Industries                      LOC               CRISIL A2     1500   Reaffirmed
Merino Industries Ltd                  Export Packing    CRISIL A1+    280    Reaffirmed
                                       Credit
Merino Industries Ltd                  LOC               CRISIL A1+    850    Reaffirmed
Motilal Oswal Financial Services Ltd   CP                CRISIL A1+    15000  Reaffirmed
Ms Bait Al Tamur Co                    BG                CRISIL A4+    200    Migrated from
                                                                              CRISIL A3+
(Issuer Not Cooperating)
Offshore Marinetech Pvt Ltd            BG                CRISIL A4+    105    Reaffirmed
Offshore Marinetech Pvt Ltd            LOC               CRISIL A4+    10     Reaffirmed
Privi Speciality Chemicals Ltd         Non-FBL           CRISIL A1     1350   Assigned
Punjab National Bank                   CDs#              CRISIL A1+    350000 Reaffirmed
#Transferred from Oriental Bank of Commerce
PVR Spinning and Weaving Ltd           BG                CRISIL A4+    10     -
(Issuer Not Cooperating; Rating Migrated)
Radhakrishna Contractors               BG                CRISIL A4     130    Reaffirmed
Sanwar Mal Khetawat                    BG                CRISIL A3+    570    Reaffirmed
Sanwar Mal Khetawat                    Proposed ST Bk    CRISIL A3+    70     Reaffirmed
                                       Loan Fac
Saurav Chemicals Ltd                   LOC               CRISIL A2     57.5   Reaffirmed
Soundarya Decorators Pvt Ltd           BG                CRISIL A4     150    -
(Issuer Not Cooperating; Rating Migrated)
Thejo Engineering Ltd                  BG*               CRISIL A2+    175    Upgraded from
                                                                              CRISIL A2
*Two-way interchangeability between LC & BG
Thejo Engineering Ltd                  LOC*              CRISIL A2+    125    Upgraded from
                                                                              CRISIL A2
*Two-way interchangeability between LC & BG
Thejo Engineering Ltd                  Proposed ST Bk    CRISIL A2+    160    Upgraded from
                                       Loan Fac#                              CRISIL A2
#Proposed Standby Letter of Credit
Thejo Engineering Ltd                  Proposed ST Bk    CRISIL A2+    40.3   Upgraded from
                                       Loan Fac                               CRISIL A2
Thejo Engineering Ltd                  Standby LOC       CRISIL A2+    130    Upgraded from
                                                                              CRISIL A2
Thomas Constructions Pvt Ltd           BG                CRISIL A4+    30     Reaffirmed
Thomas Constructions Pvt Ltd           Overdraft         CRISIL A4+    40     Reaffirmed
Vindhya Telelinks Ltd                  CP                CRISIL A1+    2000   Reaffirmed
916 Epari Jeweller Pvt Ltd             Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)




LONG TERM RATINGS:
-------------------
Abhimaani Prakashana                   Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Afras Cashew Traders                   CC                CRISIL        90     -
                                                         BB-/Stable
(Issuer Not Cooperating; Rating Migrated)
Albatross Projects Pvt Ltd             Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Albino Lifesciences Pvt Ltd            CC                CRISIL        50     -
                                                         BB/Stable
(Issuer Not Cooperating; Rating Migrated)
Albino Lifesciences Pvt Ltd            Proposed LT Bk    CRISIL        50     -
                                       Loan Fac          BB/Stable
(Issuer Not Cooperating; Rating Migrated)
Allengers Medical Systems Ltd          CC                CRISIL        160    Reaffirmed
                                                         A-/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Allengers Medical Systems Ltd          Proposed FB Bk    CRISIL        60     Reaffirmed
                                       Limits            A-/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Allengers Medical Systems Ltd          WC Fac            CRISIL        190    Reaffirmed
                                                         A-/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Alliance Commercial Transport          Proposed LT Bk    CRISIL        0.2    -
                                       Loan Fac          B+/Stable
(Issuer Not Cooperating; Rating Migrated)
Alpine Hotel And Villas                Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Ambrish Kumar Tripathi                 Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Anjana Constructions                   Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Ascent Yarns Pvt Ltd                   CC                CRISIL        60     Revised from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Ascent Yarns Pvt Ltd                   Proposed LT Bk    CRISIL        43.5   Revised from
                                       Loan Fac          BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
Ascent Yarns Pvt Ltd                   TL                CRISIL        37     Revised from
                                                         BB+/Stable           CRISIL
                                                                              BBB-/Stable
(Issuer Not Cooperating)
ASG Leather Pvt Ltd                    CC                CRISIL        7.5    -
                                                         BB/Stable
(Issuer Not Cooperating; Rating Migrated)
ASG Leather Pvt Ltd                    Export Packing    CRISIL        182.5  -
                                       Credit            BB/Stable
(Issuer Not Cooperating; Rating Migrated)
ASG Leather Pvt Ltd                    Standby Line of   CRISIL        21     -
                                       Credit            BB/Stable
(Issuer Not Cooperating; Rating Migrated)
ASG Leather Pvt Ltd                    TL                CRISIL        39     -
                                                         BB/Stable
(Issuer Not Cooperating; Rating Migrated)
Atul Krishna Preservation And Cold     Ratings           -             -      -
Storage Pvt Ltd
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Aureole Inspecs India Pvt Ltd          Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Avenger Ply Pvt Ltd                    Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
B.S.R. Constructions                   Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Babbal Handloom Industries             CC                CRISIL        100    Assigned
                                                         BB-/Stable
Babbal Handloom Industries             Proposed LT Bk    CRISIL        26     Assigned
                                       Loan Fac          BB-/Stable
Babu and Company                       Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Bharani Hi-tech Agro Industries        Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Bharti Airtel Ltd                      Proposed LT Bk    CRISIL        200000 Reaffirmed
                                       Loan Fac^         AA/Stable
^Interchangeable with fund-based and non-fund-based limits
Bharti Airtel Ltd                      NCD               CRISIL        15000  Reaffirmed
                                                         AA/Stable
Bharti Airtel Ltd                      NCD               CRISIL        35000  Reaffirmed
                                                         AA/Stable
Bharti Airtel Ltd                      NCD               CRISIL        15000  Withdrawnn
                                                         AA/Stable
Bharti Airtel Ltd                      NCD               CRISIL        2725   Withdrawnn
                                                         AA/Stable
Bhawani Moulders Pvt Ltd               Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Bhumija Ispat LLP                      Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
BP Plyboard Pvt Ltd                    CC                CRISIL        52     Reaffirmed
                                                         BB-/Stable
BP Plyboard Pvt Ltd                    Proposed FB Bk    CRISIL        13.7   Reaffirmed
                                       Limits            BB-/Stable
BP Plyboard Pvt Ltd                    TL                CRISIL        21.8   Reaffirmed
                                                         BB-/Stable
Britannia Industries Ltd               WC Demand Loan    CRISIL        7500   Reaffirmed
                                                         AAA/Stable
Britannia Industries Ltd               NCD               CRISIL        5000   Assigned
                                                         AAA/Stable
Britannia Industries Ltd               NCD               CRISIL        5000   Reaffirmed
                                                         AAA/Stable
Britannia Industries Ltd               NCD               CRISIL        7200   Reaffirmed
                                                         AAA/Stable
Chhajed Warehousing                    TL                CRISIL        70     Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BB+/Positive
(Issuer Not Cooperating; Rating Migrated)
Chiniwalas Pvt Ltd                     CC                CRISIL        128.5  Reaffirmed
                                                         BB/Stable
Chiniwalas Pvt Ltd                     Proposed TL       CRISIL        10     Reaffirmed
                                                         BB/Stable
Chopra Traders                         Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Chordia Industries                     Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Cliffton Packagings Pvt Ltd            Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Coco Fibre Tex                         Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Cotmac Electronics Pvt Ltd             CC                CRISIL BBB+   240    -
(Continues on 'Rating Watch with Negative Implications')
Cotmac Electronics Pvt Ltd             Channel Financing CRISIL BBB+   18.1   -
(Continues on 'Rating Watch with Negative Implications')
Cotmac Electronics Pvt Ltd             Proposed WC Fac   CRISIL BBB+   90     -
(Continues on 'Rating Watch with Negative Implications')
Currency Movers                        Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
D.Raja Cotton Pvt Ltd                  Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Darjeeling Tea and Chinchona           Ratings           -             -      -
Association Ltd
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
DCM Ltd                                Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
De Son Marketing Pvt Ltd               Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Devdoot Gin Mill                       Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Dexler Information Solutions Pvt Ltd   Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Dhenu Infrastructure Pvt Ltd           Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Digikredit Finance Pvt Ltd             Proposed LT Bk    -             1500   Withdrawn
                                       Loan Fac
Digikredit Finance Pvt Ltd             Proposed LT Bk    CRISIL        1000   Reaffirmed
                                       Loan Fac          BBB-/Stable
Driplex Water Engineering Pvt Ltd      CC                CRISIL        500    Migrated from
                                                         A-/Stable            CRISIL
                                                                              A-/Stable
East West Products Ltd                 Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
EVM Motels Pvt Ltd                     Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
F.Robin Polymers Pvt Ltd               Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Flow Tech Power                        CC                CRISIL        25     -
                                                         B/Stable
(Issuer Not Cooperating; Rating Migrated)
Franciskottackal Exim Pvt Ltd          Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
G3 Motors Ltd                          Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Gagan Fibres Pvt Ltd                   CC                CRISIL        60     -
                                                         BB-/Stable
(Issuer Not Cooperating; Rating Migrated)
Gajalakshmi Bangalore Dyes and ChemicalRatings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Galaxy Machinery Pvt Ltd               Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Ganpati Laminators and Packagers Pvt LtRatings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Goldenyellow Paper LLP                 Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Government of India (GoI) Fully        GoI Fully ServicedCRISIL        10000  Reaffirmed
Serviced Bonds (Issued by Inland       Bonds - IWAI      AAA/Stable
Waterways Authority of India)
Greenfield Agro Industries             CC                CRISIL        30     -
                                                         B+/Stable
(Issuer Not Cooperating; Rating Migrated)
Greenfield Agro Industries             LT Loan           CRISIL        23     -
                                                         B+/Stable
(Issuer Not Cooperating; Rating Migrated)
GRR Ginning Mills Pvt Ltd              Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
H P Valves & Fittings India Pvt Ltd    Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Hans Metals Ltd                        Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Himachal Cold Storage Solutions        Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Immacule Lifesciences Pvt Ltd          CC                CRISIL D      50     -
(Issuer Not Cooperating; Rating Migrated)
Immacule Lifesciences Pvt Ltd          Foreign Currency  CRISIL D      330    -
                                       TL 
(Issuer Not Cooperating; Rating Migrated)
Immacule Lifesciences Pvt Ltd          LOC & BG          CRISIL D      5      -
(Issuer Not Cooperating; Rating Migrated)
Immacule Lifesciences Pvt Ltd          Proposed LT Bk    CRISIL D      132.6  -
                                       Loan Fac
(Issuer Not Cooperating; Rating Migrated)
Immacule Lifesciences Pvt Ltd          TL                CRISIL D      29.4   -
(Issuer Not Cooperating; Rating Migrated)
India Fashions Pvt Ltd                 Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Indomobil Sales And Services Pvt Ltd   CC                CRISIL        72.5   -
                                                         BB+/Stable
(Issuer Not Cooperating; Rating Migrated)
Indomobil Sales And Services Pvt Ltd   LT Loan           CRISIL        12.5   -
                                                         BB+/Stable
(Issuer Not Cooperating; Rating Migrated)
Indomobil Sales And Services Pvt Ltd   Proposed WC Fac   CRISIL        15     -
                                                         BB+/Stable
(Issuer Not Cooperating; Rating Migrated)
Industrial Glass Company - Navi Mumbai Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Infoplus Technologies Pvt Ltd          Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
J. P. Rice Mills - Fatehabad           CC                CRISIL        80     -
                                                         B+/Stable
(Issuer Not Cooperating; Rating Migrated)
J. P. Rice Mills - Fatehabad           Proposed LT Bk    CRISIL        20     -
                                       Loan Fac          B+/Stable
(Issuer Not Cooperating; Rating Migrated)
Jaipan Industries Ltd                  CC                CRISIL        40     Reaffirmed
                                                         BB/Stable
Jesus Fisheries                        Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
K.G. Industries                        CC                CRISIL        225    -
                                                         BB-/Stable
(Issuer Not Cooperating; Rating Migrated)
K.G. Industries                        Warehouse ReceiptsCRISIL        25     -
                                                         BB-/Stable
(Issuer Not Cooperating; Rating Migrated)
K.P.R.Agrochem Ltd                     Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
K.R.P Cold Storage Llp                 Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Kalyaneswari Properties Pvt Ltd        Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Kanchan Vanijya Pvt Ltd                Proposed LT Bk    CRISIL        48.5   -
                                       Loan Fac          B/Stable
(Issuer Not Cooperating; Rating Migrated)
Kanchan Vanijya Pvt Ltd                TL                CRISIL        31.5   -
                                                         B/Stable
(Issuer Not Cooperating; Rating Migrated)
Kasegaon Education Society             TL                CRISIL        126    -
                                                         B/Stable
(Issuer Not Cooperating; Rating Migrated)
Kirthika Modern Rice Mill              Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
KSV Cotton Mills Pvt Ltd               Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Kundan Jewellers Pvt Ltd               CC                CRISIL        230    Assigned
                                                         BB+/Stable
Leoline Foods Pvt Ltd                  CC                CRISIL D      20     -
(Issuer Not Cooperating; Rating Migrated)
Leoline Foods Pvt Ltd                  LT Loan           CRISIL D      75     -
(Issuer Not Cooperating; Rating Migrated)
Leoline Foods Pvt Ltd                  Proposed FB Bk    CRISIL D      31     -
                                       Limits
(Issuer Not Cooperating; Rating Migrated)
Lifestyle Foods Pvt Ltd                CC                CRISIL        87.5   -
                                                         BB-/Stable
(Issuer Not Cooperating; Rating Migrated)
Lifestyle Foods Pvt Ltd                Proposed CC Limit CRISIL        2.5    -
                                                         BB-/Stable
(Issuer Not Cooperating; Rating Migrated)
Linnhoff India Pvt Ltd                 CC                CRISIL        100    -
                                                         BB+/Stable
(Issuer Not Cooperating; Rating Migrated)
Linnhoff India Pvt Ltd                 Proposed WC Fac   CRISIL        220    -
                                                         BB+/Stable
(Issuer Not Cooperating; Rating Migrated)
Lohiya Industries                      CC                CRISIL        220    Reaffirmed
                                                         BBB+/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Lohiya Industries                      Proposed LT Bk    CRISIL        200    Reaffirmed
                                       Loan Fac          BBB+/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
M.P.Agarwal and Co.Pvt Ltd             Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Maa Muktakeshi Potato Freezing Pvt Ltd Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Maa Vaishno Devi Refrigeration Pvt Ltd Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Mahaajay Spinners India Pvt Ltd        Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Mahadev Building Systems Pvt Ltd       Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Maharaja Roofing Products              CC                CRISIL        81.5   -
                                                         BB/Stable
(Issuer Not Cooperating; Rating Migrated)
Maharaja Roofing Products              Proposed LT Bk    CRISIL        3.5    -
                                       Loan Fac          BB/Stable
(Issuer Not Cooperating; Rating Migrated)
Malabar Impex Solutions                TL                CRISIL        85     Reaffirmed
                                                         B+/Stable
Malabar Impex Solutions                WC Fac            CRISIL        45     Reaffirmed
                                                         B+/Stable
Manasa Quality Enterprises Ltd         Export Packing    CRISIL        550    Reaffirmed
                                       Credit            B+/Stable
Manasa Quality Enterprises Ltd         Proposed LT Bk    CRISIL        50     Reaffirmed
                                       Loan Fac          B+/Stable
Manil Jewellers                        CC                CRISIL        150    -
                                                         BB-/Stable
(Issuer Not Cooperating; Rating Migrated)
Manoja Sthapatya                       Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Mars Envirotech Ltd                    Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Medhatiya Construction Company Pvt Ltd Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Meenakshi Associates Pvt Ltd           Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Merino Industries Ltd                  LT Loan           CRISIL        731.9  Reaffirmed
                                                         AA-/Stable
Merino Industries Ltd                  Proposed CC Limit CRISIL        100    Reaffirmed
                                                         AA-/Stable
Merino Industries Ltd                  WC Demand Loan    CRISIL        870    Reaffirmed
                                                         AA-/Stable
Merino Industries Ltd                  CC                CRISIL        600    Reaffirmed
                                                         AA-/Stable
MGR Agro Products Pvt Ltd              CC                CRISIL        90     -
                                                         BB/Stable
(Issuer Not Cooperating; Rating Migrated)
Mittapalli Agro Enterprises            Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Mittapalli Agro Exports                Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Mittapally Agro Products Pvt Ltd       Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Moulana Hospital                       LT Loan           CRISIL        213.1  -
                                                         BB+/Stable
(Issuer Not Cooperating; Rating Migrated)
Moulana Hospital                       Overdraft         CRISIL        45     -
                                                         BB+/Stable
(Issuer Not Cooperating; Rating Migrated)
Moulana Hospital                       Proposed LT Bk    CRISIL        41.9   -
                                       Loan Fac          BB+/Stable
(Issuer Not Cooperating; Rating Migrated)
Mount Maltbru Ltd                      CC                CRISIL        115    -
                                                         BB-/Stable
(Issuer Not Cooperating; Rating Migrated)
Mount Maltbru Ltd                      Proposed LT Bk    CRISIL        65     -
                                       Loan Fac          BB-/Stable
(Issuer Not Cooperating; Rating Migrated)
Ms Bait Al Tamur Co                    CC                CRISIL        300    Migrated from
                                                         BB+/Stable           CRISIL
                                                                              BBB/Stable
(Issuer Not Cooperating)
Ms Bait Al Tamur Co                    Warehouse         CRISIL        150    Migrated from
                                       Financing         BB+/Stable           CRISIL
                                                                              BBB/Stable
(Issuer Not Cooperating)
Mukesh Enterprises                     Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Multi Globe Dairies Pvt Ltd            Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Mytrah Aakash Power Pvt Ltd            Proposed TL       Provisional   3151.1 Assigned
                                                         CRISIL
                                                         A-/Stable
Mytrah Aakash Power Pvt Ltd            Proposed WC Fac   Provisional   200    Assigned
                                                         CRISIL
                                                         A-/Stable
Narbheram Agencies Pvt Ltd             Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
National Cooperative Development       Bond              CRISIL        5000   Reaffirmed
Corporation                                              AA/Stable
Nilkanth Developers - Ankleshwar       Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Nowrangroy Agro Pvt Ltd                Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Nutech Jetting Equipments India Pvt LtdRatings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Nyalkaran Mineral                      Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Offshore Marinetech Pvt Ltd            CC                CRISIL        65     Reaffirmed
                                                         BB/Stable
Paayas Agro Foods LLP                  Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Panduronga Timblo Industrias           Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Pankaj Traders                         Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Parmeshwari Enterprises                Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Phoenix International Ltd              Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Pontika Aerotech Ltd                   CC                CRISIL        157.5  Upgraded from
                                                         BB+/Stable           CRISIL
                                                                              BB-/Stable
Pontika Aerotech Ltd                   Rupee TL          CRISIL        112.5  Upgraded from
                                                         BB+/Stable           CRISIL
                                                                              BB-/Stable
Pontika Aerotech Ltd                   TL                CRISIL        350    Upgraded from
                                                         BB+/Stable           CRISIL
                                                                              BB-/Stable
Pragathi Hatcheries                    Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Privi Speciality Chemicals Ltd         TL                CRISIL        1690   Assigned
                                                         A+/Stable
Privi Speciality Chemicals Ltd         Proposed TL       CRISIL        40.5   Assigned
                                                         A+/Stable
Privi Speciality Chemicals Ltd         FB Fac            CRISIL        2750   Assigned
                                                         A+/Stable
Punjab National Bank                   Tier I Bonds      CRISIL        30000  Reaffirmed
                                       (Under Basel III) AA-/Stable
Punjab National Bank                   Tier II Bonds     CRISIL        30000  Assigned
                                       (Under Basel III) AA+/Stable
Punjab National Bank                   Lower Tier-II     CRISIL        2000   Reaffirmed
                                       Bonds (under BaselAA+/Stable
                                       II)*
*Originally issued and now transferred from United Bank of India
Punjab National Bank                   Tier II Bonds     CRISIL        15000  Reaffirmed
                                       (Under Basel III)*AA+/Stable
*Originally issued and now transferred from United Bank of India
Punjab National Bank                   Perpetual Tier-I  CRISIL        3000   Reaffirmed
                                       Bonds (under BaselAA+/Stable
                                       II)*
*Originally issued and now transferred from United Bank of India
Punjab National Bank                   Tier II Bonds     CRISIL        10000  Reaffirmed
                                       (Under Basel III) AA+/Stable
Punjab National Bank                   Tier II Bonds     CRISIL        5000   Reaffirmed
                                       (Under Basel III) AA+/Stable
Punjab National Bank                   Tier II Bonds     CRISIL        10000  Reaffirmed
                                       (Under Basel III) AA+/Stable
Punjab National Bank                   Infrastructure    CRISIL        50000  Reaffirmed
                                       Bonds             AA+/Stable
Punjab National Bank                   Tier-II Bonds     CRISIL        35000  Reaffirmed
                                       (Under Basel III) AA+/Stable
Punjab National Bank                   Tier-I Perpetual  CRISIL        6425   Reaffirmed
                                       Bonds (Under BaselAA+/Stable
                                       II)
Punjab National Bank                   Upper Tier-II     CRISIL        70000  Reaffirmed
                                       Bonds (Under BaselAA+/Stable
                                       II)
Punjab National Bank                   Lower Tier-II     CRISIL        5600   Reaffirmed
                                       Bonds (Under BaselAA+/Stable
                                       II)
PVR Spinning and Weaving Ltd           CC                CRISIL        230    -
                                                         BB+/Stable
(Issuer Not Cooperating; Rating Migrated)
PVR Spinning and Weaving Ltd           LT Loan           CRISIL        27.2   -
                                                         BB+/Stable
(Issuer Not Cooperating; Rating Migrated)
PVR Spinning and Weaving Ltd           Secured Overdraft CRISIL        100    -
                                       Fac               BB+/Stable
(Issuer Not Cooperating; Rating Migrated)
Quazar Infrastructure Pvt Ltd          Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
R D Engineers India Pvt Ltd            Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Radhakrishna Contractors               CC                CRISIL        50     Reaffirmed
                                                         B+/Stable
Radhakrishna Contractors               Proposed LT Bk    CRISIL        20     Reaffirmed
                                       Loan Fac          B+/Stable
Railsys Engineers Pvt Ltd              Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Raja Industries                        Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Rajhans Cold Storage Pvt Ltd           Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Rajyalakshmi Raw and Par Boiled Rice   Ratings           -             -      -
Mills
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Ramkrishna Agro Products Pvt Ltd       Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Ramrati Jagdish Pvt Ltd                Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Raos Educational Society               Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Repute Foods Pvt Ltd                   CC                CRISIL        100    Reaffirmed
                                                         B+/Stable
Repute Foods Pvt Ltd                   Proposed FB Bk    CRISIL        25     Reaffirmed
                                       Limits            B+/Stable
RPL Industries Ltd                     Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
S.K. Medical Foundation Pvt Ltd        Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Saleem Steels                          Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Santhosh Rice Industries               Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Santosh Kumar Rajesh Kumar             Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Sanwar Mal Khetawat                    CC                CRISIL        110    Reaffirmed
                                                         BBB/Stable
(Outlook revised from 'Positive' and rating reaffirmed)
Sanwariyaji Synthetics                 Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Sanwariyaji Texfab Industries Ltd      Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Saurav Chemicals Ltd                   CC                -             140    Withdrawn
Saurav Chemicals Ltd                   Bill Discounting  CRISIL        75     Reaffirmed
                                                         BBB+/Stable
Saurav Chemicals Ltd                   CC                CRISIL        235    Reaffirmed
                                                         BBB+/Stable
SBL Energy Ltd                         Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Sethu Educational Trust                Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Seva Engineering -Talwade              Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Sharma Construction Co-Amritsar        Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Sharma Contractors Pvt Ltd             Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Sharvi Traders Pvt Ltd                 Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Shiv Corporation - Gondia              Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Shiv Mahal Textiles Pvt Ltd            Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Shreyas Enterprises - Gorakhpur        Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Shriji Ginning and Pressing Factory    CC                CRISIL        200    Reaffirmed
                                                         BB/Stable
SMH Shipping Pvt Ltd                   Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Soundarya Decorators Pvt Ltd           CC                CRISIL        50     -
                                                         B-/Stable
(Issuer Not Cooperating; Rating Migrated)
Soundarya Decorators Pvt Ltd           Proposed LT Bk    CRISIL        50     -
                                       Loan Fac          B-/Stable
(Issuer Not Cooperating; Rating Migrated)
Southern Travels Pvt Ltd               Overdraft         CRISIL        70     Assigned
                                                         B-/Stable
Spack Coaters Pvt Ltd                  Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Special Blasts Ltd                     Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Sri Lakshmi Constructions              Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Sri Lakshmi Venkata Ramana Raw & BoiledRatings           -             -      -
Rice Mill
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Sri Ramakrishnaa Textiles              Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Sri Shiva Sai Cotton Ginning Mills     Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Sri Veereshwara Agro Agencies          Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Stork Ferro and Mineral Industries Pvt Ratings           -             -      -
Ltd
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Suddpram Auto Engineering Company Pvt  Ratings           -             -      -
Ltd
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Sun Particle Board Pvt Ltd             Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Super Gases and Appliances Pvt Ltd     Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Super-Tech Plastpack Pvt Ltd           Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Surya International Pvt Ltd            Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Swati Energy and Projects Pvt Ltd      BG                -             15     Withdrawn
(Issuer Not Cooperating)
Swati Energy and Projects Pvt Ltd      CC                -             50     Withdrawn
(Issuer Not Cooperating)
Swati Energy and Projects Pvt Ltd      Letter Of         -             30     Withdrawn
(Issuer Not Cooperating)               Guarantee  
Swati Energy and Projects Pvt Ltd      Proposed LT Bk    -             55     Withdrawn
                                       Loan Fac
(Issuer Not Cooperating)
Swati Switchgears India Pvt Ltd        Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
T Yadamma And Others                   Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Tapas Paul                             Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Tej Pratap Singh                       Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Theja Jyothi Sri Cashew Industries     Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Thejo Engineering Ltd                  CC                CRISIL        457.5  Upgraded from
                                                         A-/Stable            CRISIL
                                                                              BBB+/Positive
Thejo Engineering Ltd                  LT Loan           CRISIL        7.2    Upgraded from
                                                         A-/Stable            CRISIL
                                                                              BBB+/Positive
Thejo Engineering Ltd                  Proposed LT Bk    CRISIL        30     Upgraded from
                                       Loan Fac          A-/Stable            CRISIL
                                                                              BBB+/Positive
Thomas Constructions Pvt Ltd           LT Loan           CRISIL        15     Reaffirmed
                                                         BB-/Stable
Thomas Constructions Pvt Ltd           Proposed LT Bk    CRISIL        15     Reaffirmed
                                       Loan Fac          BB-/Stable
Transons Overseas India Pvt Ltd        CC                -             45     Withdrawn
(Issuer Not Cooperating)
Transons Overseas India Pvt Ltd        LOC               -             75     Withdrawn
(Issuer Not Cooperating)
Transworld Shoes Pvt Ltd               Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
United Composheets Pvt Ltd             Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Utkal Galvanizers Ltd                  Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Vaishnavi Vahini Mount Life HospitalityRatings           -             -      -
Pvt Ltd
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Venkateshwara Fibre Glass (Chennai) PvtRatings           -             -      -
Ltd
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Vidyasagar Himghar Pvt Ltd             Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Vishwakarma Automotive Pvt Ltd         Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Vivekananda Yoga Anusandhana Samsthana Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
VRA Cotton Mills Pvt Ltd               Ratings           -             -      -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)


--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

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

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

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222 , E-mail at rru.data@refinitiv.com)
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