October 31, 2019 / 11:35 AM / 20 days ago

RPT-CRISIL ratings for Indian debt instruments-Oct 31

 (Repeating to add additional ratings)
    Oct 31 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of October 30, 2019.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Ampo Valves India Pvt Ltd               Packing Credit     CRISIL A4+     150
Issuer Not Cooperating; Migrated from 'CRISIL A2'
Associated Jute Industries              BG                 CRISIL A4      12.5    Assigned
Bajaj Sons Ltd                          Capex LOC          CRISIL A2      15      Reaffirmed
DHS Hotels Pvt Ltd                      BG                 CRISIL A4+     2.6     Assigned
DHS Hotels Pvt Ltd                      Overdraft          CRISIL A4+     23      Assigned
Elite Natural Pvt Ltd                   Inland/Import LOC  CRISIL A2      40      Reaffirmed
Envee Drugs Pvt Ltd                     LOC                CRISIL A4+     85      Assigned
Assigned; Suspension Revoked 
Garg Industries                         BG                 CRISIL A4+     5       Reaffirmed
Garg Industries                         Overdraft          CRISIL A4+     10      Reaffirmed
Garg Industries                         Packing Credit     CRISIL A4+     110     Reaffirmed
GH Reddy and Associates (Construction)  BG                 CRISIL A4      110     Reaffirmed
Pvt Ltd
GH Reddy and Associates (Construction)  Overdraft          CRISIL A4      5       Reaffirmed
Pvt Ltd
Hindustan Agro Products Ltd             BG                 CRISIL A4      10      Reaffirmed
Kamal Textile Industries                BG                 CRISIL A4      4       Reaffirmed
Issuer Not Cooperating; Rating Migrated
Kartik Construction Company             BG                 CRISIL A4      30      Reaffirmed
Migrated from 'CRISIL A4 Issuer Not Cooperating'
Konark Infrastructure Ltd               BG                 CRISIL A4      1525    Reaffirmed
Issuer Not Cooperating
Lotus Infratech                         BG                 CRISIL A4+     92.5    Reaffirmed
Mg Polyplast Industries Pvt Ltd         LOC                CRISIL A3      168     Reaffirmed
Panex Overseas                          Bill Discounting   CRISIL A4+     40      Reaffirmed
Migrated from 'CRISIL A4+ Issuer Not Cooperating'
Panex Overseas                          Packing Credit     CRISIL A4+     50      Reaffirmed
Migrated from 'CRISIL A4+ Issuer Not Cooperating'
Panex Overseas                          Proposed ST Bk     CRISIL A4+     10      Reaffirmed
                                        Loan Fac
Migrated from 'CRISIL A4+ Issuer Not Cooperating'
Power Grid Corporation of India Ltd     BG                 CRISIL A1+     11000   Reaffirmed
Power Grid Corporation of India Ltd     LOC                CRISIL A1+     16000   Reaffirmed
Power Grid Corporation of India Ltd     CP                 CRISIL A1+     90000   Reaffirmed
(Enhanced from Rs.6000 Crore)**
Power Grid Corporation of India Ltd     ST Debt            CRISIL A1+     90000   Reaffirmed
(Enhanced from Rs.6000 Crore)**
R K Jain Infra Projects Pvt Ltd         BG                 CRISIL A4+     910     Reaffirmed
R K Jain Infra Projects Pvt Ltd         Overdraft          CRISIL A4+     20      Reaffirmed
Rajapalayam Mills Ltd                   Foreign Exchange   CRISIL A1      30      Reaffirmed
                                        Forward
Rajapalayam Mills Ltd                   LOC & BG#          CRISIL A1      400     Reaffirmed
# - Interchangeable with buyers credit to the extent of Rs 15 crore
S. R. V. Knits Exports                  Post Shipment      CRISIL A4+     15      Reaffirmed
                                        Credit
Issuer Not Cooperating; Rating Migrated
S. R. V. Knits Exports                  Pre Shipment Fac   CRISIL A4+     75      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Salarpuria Properties Pvt Ltd           Non-FBL            CRISIL A1      741     Reaffirmed
Saraogi Udyog Pvt Ltd                   BG                 CRISIL A2      140     Reaffirmed
Saraogi Udyog Pvt Ltd                   Letter Of GuaranteeCRISIL A2      30      Reaffirmed
Saraogi Udyog Pvt Ltd                   LOC                CRISIL A2      3490    Reaffirmed
Sattva Developers Pvt Ltd               Non-FBL            CRISIL A1      482     Reaffirmed
Savla Chemicals Ltd                     BG                 CRISIL A3+     4       Reaffirmed
Savla Chemicals Ltd                     LOC                CRISIL A3+     170     Reaffirmed
Sri Vishnu Shankar Mills Ltd            Non FB Fac         CRISIL A3+     180     Reaffirmed
Srinivasa Cystine Pvt Ltd               BG                 CRISIL A2      2       Reaffirmed
Srinivasa Cystine Pvt Ltd               LOC                CRISIL A2      70      Reaffirmed
Star Pipe Products (India) Pvt Ltd      Foreign Exchange   CRISIL A4+     40
                                        Forward
Issuer Not Cooperating; Migrated from 'CRISIL A3'
Star Pipe Products (India) Pvt Ltd      Loan Equivalent    CRISIL A4+     30
                                        Risk Limits
Issuer Not Cooperating; Migrated from 'CRISIL A3'
Tata Advanced Materials Ltd             Non-FBL            CRISIL A1      1090    Assigned
Reassigned; Placed on 'Rating Watch with Positive Implications'
Techno Power Enterprises Pvt Ltd        BG                 CRISIL A4+     1075
Issuer Not Cooperating; Migrated from 'CRISIL A3'
Techno Power Enterprises Pvt Ltd        Overdraft          CRISIL A4+     40
Issuer Not Cooperating; Migrated from 'CRISIL A3'
The National Small Industries           CP                 CRISIL A1+     12000   Reaffirmed
Corporation Ltd
Transpek Industry Ltd                   BG                 CRISIL A1      6.4
Upgraded from 'CRISIL A2+'
Transpek Industry Ltd                   Inland/Import LOC  CRISIL A1      190
Upgraded from 'CRISIL A2+'
Transpek Industry Ltd                   LOC                CRISIL A1      260
Upgraded from 'CRISIL A2+'
Transpek Industry Ltd                   Loan Equivalent    CRISIL A1      12
                                        Risk Limits
Upgraded from 'CRISIL A2+'
Advance Steel Tubes Ltd                 BG                 CRISIL A3      190
Migrated from 'CRISIL A4+ Issuer Not Cooperating'
Advance Steel Tubes Ltd                 Bill Discounting   CRISIL A3      25
                                        under LOC
Migrated from 'CRISIL A4+ Issuer Not Cooperating'
Advance Steel Tubes Ltd                 LOC & BG           CRISIL A3      75      Assigned
Migrated from 'CRISIL A4+ Issuer Not Cooperating'
Annai Infra Developers Ltd              BG                 CRISIL A4      1560
Downgraded from 'CRISIL A4+' Removed from 'Rating Watch with Negative Implications'
Annai Infra Developers Ltd              LOC                CRISIL A4      100
Downgraded from 'CRISIL A4+' Removed from 'Rating Watch with Negative Implications'
Astron Zircon Pvt Ltd                   BG                 CRISIL A3      20      Reaffirmed
Astron Zircon Pvt Ltd                   LOC                CRISIL A3      150     Reaffirmed
Balaji Dayalpura Infra Pvt Ltd          BG                 CRISIL A4+     210
Issuer Not Cooperating; Migrated from 'CRISIL A4+'; Rating Withdrawn
Balaji Dayalpura Infra Pvt Ltd          Secured Overdraft  CRISIL A4+     90
                                        Fac
Issuer Not Cooperating; Migrated from 'CRISIL A4+'; Rating Withdrawn
Banbury Exports ( A Div. of Banbury     Packing Credit     CRISIL A4+     100
Impex Pvt Ltd)
Issuer Not Cooperating
Bharat Serums and Vaccines Ltd          LOC                CRISIL A1      270     Reaffirmed
Chadha Papers Ltd                       LOC                CRISIL A4+     400     Reaffirmed
Continues on 'Rating Watch with Developing Implications'
D.P. Garg Exports Pvt Ltd               BG                 CRISIL A4+     5       Reaffirmed
D.P. Garg Exports Pvt Ltd               Overdraft          CRISIL A4+     10      Reaffirmed
D.P. Garg Exports Pvt Ltd               Packing Credit     CRISIL A4+     90      Reaffirmed
Dhruv Cotton Processing Pvt Ltd         BG                 CRISIL A3      20      Reaffirmed
G.S. Alloy Castings Pvt Ltd             BG                 CRISIL A4      2.5     Reaffirmed
G.S. Alloy Castings Pvt Ltd             LOC                CRISIL A4      2.5     Reaffirmed
GA Infra Pvt Ltd                        BG                 CRISIL A3+     589.2   Reaffirmed
General Import Company India Pvt Ltd    Foreign LOC        CRISIL A4+     150     Withdrawn
Godrej Properties Ltd                   CP Programme       CRISIL A1+     12500   Reaffirmed
Indwell Constructions Pvt Ltd           BG                 CRISIL A4+     1500
Issuer Not Cooperating; Migrated from 'CRISIL A2'
K Chandrasekharbabu                     BG                 CRISIL A4+     55      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Karbon Steelmart Pvt Ltd                LOC                CRISIL A3      278     Reaffirmed
Maheshwari Mining Pvt Ltd               BG                 CRISIL A4      320     Reaffirmed
Issuer Not Cooperating
Maheshwari Mining Pvt Ltd               LOC                CRISIL A4      30      Reaffirmed
Issuer Not Cooperating
Minda Corporation Ltd                   Non-FBL            CRISIL A1      30      Reaffirmed
Minda Corporation Ltd                   Proposed ST Bk     CRISIL A1      410     Reaffirmed
                                        Loan Fac
Nabha Power Ltd                         CP Programme       CRISIL A1+     40000   Reaffirmed
Nitin Castings Ltd                      LOC & BG           CRISIL A3      106     Reaffirmed
Parshwa Global                          Packing Credit     CRISIL A4      20      Reaffirmed
Parshwa Global                          Post Shipment      CRISIL A4      20      Reaffirmed
                                        Credit
PMR Construction Company                Inland Guarantees  CRISIL A4+     150     Reaffirmed
Prolific Systems and Technologies Pvt   LOC & BG           CRISIL A3      180     Assigned
Ltd
Rachana Construction Co. - Pune         BG                 CRISIL A4+     95
Issuer Not Cooperating
Rajasthan Gum Pvt Ltd                   Foreign Bill       CRISIL A4+     3600
                                        Purchase
Issuer Not Cooperating; Migrated from 'CRISIL A2+'
Ramaraju Surgical Cotton Mills Ltd      BG                 CRISIL A2      10      Reaffirmed
Regency Nirman Ltd                      BG                 CRISIL A3+     856     Reaffirmed
Rishi Raj Construction                  BG                 CRISIL A4+     200
Migrated from 'CRISIL A4 Issuer Not Cooperating'
Saha's Solvex                           BG                 CRISIL A4      10      Assigned
Shyam Ferro Alloys Ltd                  LOC                CRISIL A1      4070    Reaffirmed
Soch Apparels Pvt Ltd                   Proposed ST Bk     CRISIL A3      10      Reaffirmed
                                        Loan Fac
Sundaram Alloys Ltd                     LOC                CRISIL A1      950
Upgraded from 'CRISIL A2+'
Sundaram Alloys Ltd                     Proposed ST Bk     CRISIL A1      600     Assigned
                                        Loan Fac
Upgraded from 'CRISIL A2+'
Synokem Pharmaceuticals Ltd             Bill Discounting   CRISIL A2+     10
                                        under LOC
Upgraded from 'CRISIL A2'
The Karur Vysya Bank Ltd                CDs Programme      CRISIL A1+     30000   Reaffirmed
TTK Prestige Ltd                        LOC & BG           CRISIL A1+     600     Reaffirmed
TTK Prestige Ltd                        CP Programme       CRISIL A1+     500     Withdrawn
United Shippers Ltd                     BG                 CRISIL A1      115     Reaffirmed
Ved Sassomeccanica India Pvt Ltd        BG                 CRISIL A4+     15
Issuer Not Cooperating; Migrated from 'CRISIL A3+'
Vishesh Overseas                        LOC & BG           CRISIL A4      10
Downgraded from 'CRISIL A4+'

MEDIUM TERM RATINGS:
-------------------
Transpek Industry Ltd                   FD                 FA+/Stable     371.6
Upgraded from FA/Positive
LONG TERM RATINGS:
-------------------
Annapurna Agro Industries LLP           CC                 --             64      Withdrawn

Issuer Not Cooperating
Annapurna Agro Industries LLP           TL                 --             67.5    Withdrawn
Issuer Not Cooperating
Aradhana Builders Pvt Ltd               Drop Line          CRISIL         45      Reaffirmed
                                        Overdraft Fac      B+/Stable
Issuer Not Cooperating; Rating Migrated
Aradhana Builders Pvt Ltd               Proposed TL        CRISIL         55      Reaffirmed
                                                           B+/Stable
Issuer Not Cooperating; Rating Migrated
Aradhana Builders Pvt Ltd               TL                 CRISIL         100     Reaffirmed
                                                           B+/Stable
Issuer Not Cooperating; Rating Migrated
Arvind Cotsyn India Ltd                 CC                 CRISIL         140     Reaffirmed
                                                           BBB+/Stable
Arvind Cotsyn India Ltd                 TL                 CRISIL         90      Reaffirmed
                                                           BBB+/Stable
Arvind Dyeing and Bleaching Mills Pvt   CC                 CRISIL         180
Ltd                                                        BBB+/Stable
Upgraded from 'CRISIL BBB/Positive'
Arvind Dyeing and Bleaching Mills Pvt   Rupee TL           CRISIL         290
Ltd                                                        BBB+/Stable
Upgraded from 'CRISIL BBB/Positive'
Arvind Dyeing and Bleaching Mills Pvt   TL                 CRISIL         330
Ltd                                                        BBB+/Stable
Upgraded from 'CRISIL BBB/Positive'
Associated Jute Industries              TL                 CRISIL         2.5     Assigned
                                                           B+/Stable
Associated Jute Industries              CC                 CRISIL         35      Assigned
                                                           B+/Stable
Bajaj Sons Ltd                          CC                 CRISIL         447.5   Reaffirmed
                                                           BBB+/Stable
Bajaj Sons Ltd                          LT Bk Fac          CRISIL         40.5    Reaffirmed
                                                           BBB+/Stable
Bajaj Sons Ltd                          LT Loan            CRISIL         135     Reaffirmed
                                                           BBB+/Stable
Bhilwara Rajsamand Tollway Pvt Ltd      TL                 CRISIL A-      2750    Reaffirmed
Continues on 'Rating Watch with Developing Implications'
Bijapur Hungund Tollway Pvt Ltd         Proposed LT Bk     CRISIL A       157.4   Reaffirmed
                                        Loan Fac
Continues on 'Rating Watch with Developing Implications' 
Bijapur Hungund Tollway Pvt Ltd         TL                 CRISIL A       4142.6  Reaffirmed
Continues on 'Rating Watch with Developing Implications' 
Bijapur Hungund Tollway Pvt Ltd         NCD                CRISIL A       2500
Continues on 'Rating Watch with Developing Implications'
Bijapur Hungund Tollway Pvt Ltd         NCD                CRISIL A       1450
Continues on 'Rating Watch with Developing Implications'
Blue Nile Developers Pvt Ltd            LT Loan            CRISIL         60
                                                           BB-/Stable
Migrated from 'CRISIL BB-/Stable  Issuer Not Cooperating'; Rating Withdrawn
Blue Nile Developers Pvt Ltd            Proposed LT Bk     CRISIL         40
                                        Loan Fac           BB-/Stable
Migrated from 'CRISIL BB-/Stable  Issuer Not Cooperating'; Rating Withdrawn
Chhattisgarh Hydro Power LLP            BG                 --             25      Withdrawn
Chhattisgarh Hydro Power LLP            LT Loan            --             1249    Withdrawn
Chhattisgarh Hydro Power LLP            Proposed LT Bk     --             76      Withdrawn
                                        Loan Fac
Darshita Infrastructure Pvt Ltd         Proposed LT Bk     CRISIL A/Stable6200    Reaffirmed
                                        Loan Fac
Dharam Industries                       CC                 CRISIL         90      Assigned
                                                           BB/Stable
Dharam Industries                       TL                 CRISIL         10      Assigned
                                                           BB/Stable
DHS Hotels Pvt Ltd                      WC TL              CRISIL         30      Assigned
                                                           BB+/Stable
DHS Hotels Pvt Ltd                      WC Demand Loan     CRISIL         2.6     Assigned
                                                           BB+/Stable
DHS Hotels Pvt Ltd                      TL                 CRISIL         71.8    Assigned
                                                           BB+/Stable
Elite Agro Specialities                 CC                 CRISIL         60      Reaffirmed
                                                           BBB+/Stable
Elite Agro Specialities                 LT Loan            CRISIL         8.7     Reaffirmed
                                                           BBB+/Stable
Elite Natural Pvt Ltd                   CC                 CRISIL         30      Reaffirmed
                                                           BBB+/Stable
Elite Natural Pvt Ltd                   Corporate Loan     CRISIL         30      Reaffirmed
                                                           BBB+/Stable
Elite Natural Pvt Ltd                   LT Loan            CRISIL         35      Reaffirmed
                                                           BBB+/Stable
Elite Natural Pvt Ltd                   Standby Line of    CRISIL         15      Reaffirmed
                                        Credit             BBB+/Stable
Elite Plast Autosystems Pvt Ltd         CC                 CRISIL         7.5     Reaffirmed
                                                           BB/Stable
Issuer Not Cooperating; Rating Migrated
Elite Plast Autosystems Pvt Ltd         Proposed LT Bk     CRISIL         72.5    Reaffirmed
                                        Loan Fac           BB/Stable
Issuer Not Cooperating; Rating Migrated
Elite Tasty Toast Pvt Ltd               CC                 CRISIL         9       Reaffirmed
                                                           BBB+/Stable
Elite Tasty Toast Pvt Ltd               LT Loan            CRISIL         31.4    Reaffirmed
                                                           BBB+/Stable
Elite Tasty Toast Pvt Ltd               Proposed LT Bk     CRISIL         9.6     Reaffirmed
                                        Loan Fac           BBB+/Stable
Envee Drugs Pvt Ltd                     CC                 CRISIL         55      Assigned
                                                           BB/Stable
Assigned; Suspension Revoked 
Garg Industries                         Bill Discounting   CRISIL         35      Reaffirmed
                                                           BB/Stable
GH Reddy and Associates (Construction)  Proposed LT Bk     CRISIL B/Stable135     Reaffirmed
Pvt Ltd                                 Loan Fac
Grandeur Agrotech Pvt Ltd               CC                 CRISIL         50      Reaffirmed
                                        Loan Fac
Rajlaxmi Griha Nirman Pvt Ltd           TL                 CRISIL A/Stable350     Reaffirmed
Rattan Singh Builders Pvt Ltd           BG                 --             200     Withdrawn
Rattan Singh Builders Pvt Ltd           CC                 --             80      Withdrawn
S S Developers                          Proposed LT Bk     CRISIL A/Stable500     Reaffirmed
                                        Loan Fac
S. R. V. Knits Exports                  CC                 CRISIL         5       Reaffirmed
                                                           BB-/Stable
Issuer Not Cooperating; Rating Migrated
S. R. V. Knits Exports                  Cash TL            CRISIL         21      Reaffirmed
                                                           BB-/Stable
Issuer Not Cooperating; Rating Migrated
S. R. V. Knits Exports                  Foreign LOC        CRISIL         64      Reaffirmed
                                                           BB-/Stable
Issuer Not Cooperating; Rating Migrated
Salarpuria Griha Nirman Pvt Ltd         Drop Line          CRISIL A/Stable310     Reaffirmed
                                        Overdraft Fac
Salarpuria Griha Nirman Pvt Ltd         TL                 CRISIL A/Stable690     Reaffirmed
Salarpuria Properties Pvt Ltd           Drop Line          CRISIL A/Stable910     Reaffirmed
                                        Overdraft Fac
Salarpuria Properties Pvt Ltd           Proposed LT Bk     CRISIL A/Stable102.7   Reaffirmed
                                        Loan Fac
Salarpuria Properties Pvt Ltd           Rupee TL           CRISIL A/Stable910     Reaffirmed
Saptrishi Realtors                      Proposed LT Bk     CRISIL         250
                                        Loan Fac           B+/Stable
Migrated from 'CRISIL B+/Stable  Issuer Not Cooperating'; Rating Withdrawn
Saraogi Udyog Pvt Ltd                   CC                 CRISIL         350     Reaffirmed
                                                           BBB+/Stable
Sattva Developers Pvt Ltd               Drop Line          CRISIL A/Stable1058    Reaffirmed
                                        Overdraft Fac
Sattva Developers Pvt Ltd               Overdraft          CRISIL A/Stable150     Reaffirmed
Savla Chemicals Ltd                     CC                 CRISIL         95      Reaffirmed
                                                           BBB/Stable
Savla Chemicals Ltd                     Proposed LT Bk     CRISIL         30      Reaffirmed
                                        Loan Fac           BBB/Stable
Shivalik Engineering Industries Ltd     CC                 CRISIL         200
                                                           BBB/Stable
Migrated from 'CRISIL BB+/Stable Issuer Not Cooperating'
Shivalik Engineering Industries Ltd     TL                 CRISIL         400
                                                           BBB/Stable
Migrated from 'CRISIL BB+/Stable Issuer Not Cooperating'
SPPL Property Management Pvt Ltd        Overdraft          CRISIL A/Stable200     Reaffirmed
SPPL Property Management Pvt Ltd        Proposed LT Bk     CRISIL A/Stable800     Reaffirmed
                                        Loan Fac
Sri Vishnu Shankar Mills Ltd            TL                 CRISIL         963.5   Reaffirmed
                                                           BBB/Stable
Sri Vishnu Shankar Mills Ltd            FB Fac*            CRISIL         200     Reaffirmed
                                                           BBB/Stable
*Interchangeable with export packing credit (EPC)/ packing credit in foreign currency (PCFC)
Sri Vishnu Shankar Mills Ltd            FB Fac**           CRISIL         450     Reaffirmed
                                                           BBB/Stable
**Interchangeable with EPC/PCFC/ FBN/ FBP/ FBD/ buyer's credit
Sri Vishnu Shankar Mills Ltd            FB Fac^            CRISIL         150     Reaffirmed
                                                           BBB/Stable
^Interchangeable with non-fund based facilities
Sri Vishnu Shankar Mills Ltd            FB Fac#            CRISIL         100     Reaffirmed
                                                           BBB/Stable
# Interchangeable with WCDL/EPC
Sri Vishnu Shankar Mills Ltd            FB Fac             CRISIL         363     Reaffirmed
                                                           BBB/Stable
Sri Vishnu Shankar Mills Ltd            Fund based &       CRISIL         220     Reaffirmed
                                        non-FB Fac @       BBB/Stable
@Interchangeable with short term loan/EPC/ letter of credit/bank guarantee/ buyer's
credit/WCDL/PCFC
Sri Vishnu Shankar Mills Ltd            Fund based &       CRISIL         150     Reaffirmed
                                        non-FB Fac ^       BBB/Stable
^Interchangeable with non-fund based facilities
Sri Vishnu Shankar Mills Ltd            Proposed LT Bk     CRISIL         49.2    Reaffirmed
                                        Loan Fac           BBB/Stable
Srinivasa Cystine Pvt Ltd               CC                 CRISIL         5       Reaffirmed
                                                           BBB+/Positive
Outlook revised from 'Stable' and rating reaffirmed
Srinivasa Cystine Pvt Ltd               Proposed LT Bk     CRISIL         1.2     Reaffirmed
                                        Loan Fac           BBB+/Positive
Outlook revised from 'Stable' and rating reaffirmed
Star Pipe Products (India) Pvt Ltd      Export Packing     CRISIL         95
                                        Credit             BB+/Stable
Issuer Not Cooperating; Migrated from 'CRISIL BBB-/Stable'
Suprabha Construction Company Pvt Ltd   BG                 --             25      Withdrawn
Issuer Not Cooperating
Suprabha Construction Company Pvt Ltd   CC                 --             58      Withdrawn
Issuer Not Cooperating
Suprabha Construction Company Pvt Ltd   Proposed LT Bk     --             37      Withdrawn
                                        Loan Fac
Issuer Not Cooperating
Suprabha Construction Company Pvt Ltd   TL                 --             20      Withdrawn
Issuer Not Cooperating
Tata Advanced Materials Ltd             CC                 CRISIL A+      70      Reaffirmed
Continues on 'Rating Watch with Positive Implications'
Tata Advanced Materials Ltd             CC^                CRISIL A+      590     Reaffirmed
Continues on 'Rating Watch with Positive Implications'; ^Fungible with Non-Fund based facilities
Tata Advanced Materials Ltd             CC@                CRISIL A+      750     Assigned
Continues on 'Rating Watch with Positive Implications'; @Fungible with Non-Fund based facilities
up to Rs. 25 crore
Tata Advanced Materials Ltd             FB Fac             CRISIL A+      350     Assigned
Continues on 'Rating Watch with Positive Implications'
Tata Advanced Materials Ltd             TL                 CRISIL A+      650     Assigned
Continues on 'Rating Watch with Positive Implications'
Tata Advanced Materials Ltd             Proposed LT Bk     CRISIL A+      250     Assigned
                                        Loan Fac
Continues on 'Rating Watch with Positive Implications'
Tata Advanced Materials Ltd             Non-FBL&           CRISIL A+      350     Assigned
Continues on 'Rating Watch with Positive Implications'; &Fungible with Fund based limits up to
Rs. 30 crore
TATA Autocomp GY Batteries Pvt Ltd      CC                 CRISIL         200     Reaffirmed
                                                           BBB/Positive
TATA Autocomp GY Batteries Pvt Ltd      Proposed LT Bk     CRISIL         378     Reaffirmed
                                        Loan Fac           BBB/Positive
TATA Autocomp GY Batteries Pvt Ltd      TL                 CRISIL         332     Reaffirmed
                                                           BBB/Positive
TATA Autocomp GY Batteries Pvt Ltd      WC Loan            CRISIL         100     Reaffirmed
                                                           BBB/Positive
Techno Power Enterprises Pvt Ltd        CC                 CRISIL         170
                                                           BB+/Stable
Issuer Not Cooperating; Migrated from 'CRISIL BBB-/Stable'
Techno Power Enterprises Pvt Ltd        Proposed LT Bk     CRISIL         114.9
                                        Loan Fac           BB+/Stable
Issuer Not Cooperating; Migrated from 'CRISIL BBB-/Stable'
Techno Power Enterprises Pvt Ltd        TL                 CRISIL         100.1
                                                           BB+/Stable
Issuer Not Cooperating; Migrated from 'CRISIL BBB-/Stable'
The Jamshri Ranjitsinghji Spinning And  CC                 --             120     Withdrawn
Weaving Mills Co. Ltd
Issuer Not Cooperating
Transpek Industry Ltd                   CC                 CRISIL A/Stable447.5
Upgraded from 'CRISIL A-/Positive'
Transpek Industry Ltd                   Proposed CC Limit  CRISIL A/Stable450
Upgraded from 'CRISIL A-/Positive'
Transpek Industry Ltd                   Proposed LT Bk     CRISIL A/Stable107.5
                                        Loan Fac
Upgraded from 'CRISIL A-/Positive'
Transpek Industry Ltd                   Standby LOC        CRISIL A/Stable20
Upgraded from 'CRISIL A-/Positive'
Transpek Industry Ltd                   TL                 CRISIL A/Stable820.1
Upgraded from 'CRISIL A-/Positive'
Unihealth Consultancy Pvt Ltd           Foreign Currency TLCRISIL B/Stable25
Downgraded from 'CRISIL B+/Stable'
Upal Developers Pvt Ltd                 Proposed LT Bk     CRISIL         150     Reaffirmed
                                        Loan Fac           A-/Stable
Upal Developers Pvt Ltd                 Secured Overdraft  CRISIL         100     Reaffirmed
                                        Fac                A-/Stable
Upal Developers Pvt Ltd                 WC TL              CRISIL         850     Reaffirmed
                                                           A-/Stable
Uttranchal Pulp and Paper Mills Pvt Ltd CC                 CRISIL         35      Reaffirmed
                                                           BB+/Stable
Uttranchal Pulp and Paper Mills Pvt Ltd Proposed FB Bk     CRISIL         35      Reaffirmed
                                        Limits             BB+/Stable
Uttranchal Pulp and Paper Mills Pvt Ltd TL                 CRISIL         20      Reaffirmed
                                                           BB+/Stable
Viceroy Bangalore Hotels Pvt Ltd        TL                 CRISIL D       2060    Reaffirmed
Issuer Not Cooperating
Yamuna Roller Flour Mills Pvt Ltd       CC                 CRISIL         210     Reaffirmed
                                                           BBB+/Stable
Yamuna Roller Flour Mills Pvt Ltd       LT Loan            CRISIL         1.1     Reaffirmed
                                                           BBB+/Stable
Yamuna Roller Flour Mills Pvt Ltd       Proposed LT Bk     CRISIL         30.9    Reaffirmed
                                        Loan Fac           BBB+/Stable
Advance Steel Tubes Ltd                 Proposed LT Bk     CRISIL BBB-/   44      Assigned
                                        Loan Fac           Stable
Migrated from 'CRISIL BB+/Stable Issuer Not Cooperating'
Advance Steel Tubes Ltd                 CC                 CRISIL BBB-/   196     Assigned
                                                           Stable
Migrated from 'CRISIL BB+/Stable Issuer Not Cooperating'
Alain Gold Souk                         CC                 CRISIL B+/     45      Assigned
                                                           Stable
Alain Gold Souk                         Proposed FB Bk     CRISIL B+/     25      Assigned
                                        Limits             Stable
Alpine Shoes Pvt Ltd                    CC                 CRISIL BB-/    40      Assigned
                                                           Stable
Alpine Shoes Pvt Ltd                    Proposed LT Bk     CRISIL BB-/    200     Assigned
                                        Loan Fac           Stable
Amalorpavam Educational Welfare Society LT Loan            CRISIL BB+/    87
                                                           Stable
Issuer Not Cooperating; Migrated from 'CRISIL BBB/Stable'
Amalorpavam Educational Welfare Society Proposed LT Bk     CRISIL BB+/    213
                                        Loan Fac           Stable
Issuer Not Cooperating; Migrated from 'CRISIL BBB/Stable'
Andhra Pradesh Power Development Co. LtdCC                 CRISIL B-/     9000    Reaffirmed
                                                           Stable
Issuer Not Cooperating
Andhra Pradesh Power Development Co. LtdProposed FB Bk     CRISIL B-/     6000    Reaffirmed
                                        Limits             Stable
Issuer Not Cooperating
Annai Infra Developers Ltd              CC                 CRISIL B-/     500
                                                           Negative
Downgraded from 'CRISIL BB' Removed from 'Rating Watch with Negative Implications'
Annai Infra Developers Ltd              Overdraft          CRISIL B-/     140
                                                           Negative
Downgraded from 'CRISIL BB' Removed from 'Rating Watch with Negative Implications'
Annapurna Finance Pvt Ltd               LT Bk Fac          CRISIL A-/     10879.1 Reaffirmed
                                                           Stable
Annapurna Finance Pvt Ltd               Proposed LT Bk     CRISIL A-/     120.9   Reaffirmed
                                        Loan Fac           Stable
Annapurna Finance Pvt Ltd               NCD                CRISIL A-/     730
                                                           Stable
Annapurna Finance Pvt Ltd               NCD                CRISIL A-/     700
                                                           Stable
Annapurna Finance Pvt Ltd               NCD                CRISIL A-/     400
                                                           Stable
Annapurna Finance Pvt Ltd               NCD                CRISIL A-/     300
                                                           Stable
Annapurna Finance Pvt Ltd               NCD                CRISIL A-/     1000
                                                           Stable
Annapurna Finance Pvt Ltd               NCD                CRISIL A-/     1460
                                                           Stable
Astron Zircon Pvt Ltd                   CC                 CRISIL BBB-/   350     Reaffirmed
                                                           Stable
Astron Zircon Pvt Ltd                   TL                 CRISIL BBB-/   30      Reaffirmed
                                                           Stable
Avantika-GHRA(JV)                       Overdraft          CRISIL B+      10      Reaffirmed
Avantika-GHRA(JV)                       Proposed LT Bk     CRISIL B+      5       Assigned
                                        Loan Fac
Bharat Serums and Vaccines Ltd          CC                 CRISIL A+/     730     Reaffirmed
                                                           Stable
Bharat Serums and Vaccines Ltd          WC Fac             CRISIL A+/     1400    Reaffirmed
                                                           Stable
Chadha Papers Ltd                       CC                 CRISIL BB      300     Reaffirmed
Continues on 'Rating Watch with Developing Implications'
Chadha Papers Ltd                       Proposed LT Bk     CRISIL BB      15      Reaffirmed
                                        Loan Fac
Continues on 'Rating Watch with Developing Implications'
Chadha Papers Ltd                       TL                 CRISIL BB      135     Reaffirmed
Continues on 'Rating Watch with Developing Implications'
Coremind Software Services Pvt Ltd      Drop Line          CRISIL A/      85.5    Reaffirmed
                                        Overdraft Fac      Stable
Coremind Software Services Pvt Ltd      Proposed LT Bk     CRISIL A/      164.5   Reaffirmed
                                        Loan Fac           Stable
D.P. Garg Exports Pvt Ltd               Bill Discounting   CRISIL BB/     35      Reaffirmed
                                                           Stable
Darshita Hi-Rise Pvt Ltd                Proposed LT Bk     CRISIL A/      2850    Reaffirmed
                                        Loan Fac           Stable
Debonair Realtors Pvt Ltd               Drop Line          CRISIL A/      580     Reaffirmed
                                        Overdraft Fac      Stable
Debonair Realtors Pvt Ltd               Proposed LT Bk     CRISIL A/      270     Reaffirmed
                                        Loan Fac           Stable
Dhruv Cotton Processing Pvt Ltd         CC                 CRISIL BBB-/   200     Reaffirmed
                                                           Stable
Dhruv Cotton Processing Pvt Ltd         TL                 CRISIL BBB-/   430     Reaffirmed
                                                           Stable
Elite Foods Pvt Ltd                     CC                 CRISIL BBB+/   50      Reaffirmed
                                                           Stable
Elite Foods Pvt Ltd                     Proposed LT Bk     CRISIL BBB+/   50      Reaffirmed
                                        Loan Fac           Stable
Elite Green Pvt Ltd                     Export Packing     CRISIL BBB+/   110     Reaffirmed
                                        Credit             Stable
Elite Green Pvt Ltd                     Foreign Bill       CRISIL BBB+/   90      Reaffirmed
                                        Discounting        Stable
Elite Green Pvt Ltd                     LT Loan            CRISIL BBB+/   5       Reaffirmed
                                                           Stable
Elite Green Pvt Ltd                     Proposed LT Bk     CRISIL BBB+/   65      Reaffirmed
                                        Loan Fac           Stable
Everest Power Pvt Ltd                   LT Loan            CRISIL BB/     3514.7
                                                           Stable
Upgraded from 'CRISIL B+/Stable'
Everest Power Pvt Ltd                   Proposed LT Bk     CRISIL BB/     1085.3
                                        Loan Fac           Stable
Upgraded from 'CRISIL B+/Stable'
G.S. Alloy Castings Pvt Ltd             CC                 CRISIL B/      57      Reaffirmed
                                                           Stable
Ltd                                                        Stable
Rachana Construction Co. - Pune         CC                 CRISIL BB/     5
                                                           Stable
Issuer Not Cooperating
Rajapalayam Textile Ltd                 CC                 CRISIL BBB/    200
                                                           Stable
Downgraded from 'CRISIL BBB+/Stable'
Rajapalayam Textile Ltd                 Proposed LT Bk     CRISIL BBB/    33.8
                                        Loan Fac           Stable
Downgraded from 'CRISIL BBB+/Stable'
Rajapalayam Textile Ltd                 TL                 CRISIL BBB/    122
                                                           Stable
Downgraded from 'CRISIL BBB+/Stable'
Rajmata Realtors Pvt Ltd                Drop Line          CRISIL A/      1000    Reaffirmed
                                        Overdraft Fac      Stable
Rajmata Realtors Pvt Ltd                TL                 CRISIL A/      1000    Reaffirmed
                                                           Stable
Ramaraju Surgical Cotton Mills Ltd      CC                 CRISIL BBB+/   1050    Reaffirmed
                                                           Stable
Ramaraju Surgical Cotton Mills Ltd      Cash TL            CRISIL BBB+/   738.5   Reaffirmed
                                                           Stable
Ramaraju Surgical Cotton Mills Ltd      Corporate Loan     CRISIL BBB+/   615.8   Reaffirmed
                                                           Stable
Ramaraju Surgical Cotton Mills Ltd      Proposed LT Bk     CRISIL BBB+/   157.8   Reaffirmed
                                        Loan Fac           Stable
Regency Nirman Ltd                      LT Loan            CRISIL BBB/    84      Reaffirmed
                                                           Stable
Regency Nirman Ltd                      Overdraft          CRISIL BBB/    700     Reaffirmed
                                                           Stable
Renuka Constructions - Pune             Proposed LT Bk     CRISIL A       2.96
                                        Loan Fac
Watch Developing
Renuka Constructions - Pune             TL                 CRISIL A       292.04
Watch Developing
Rishi Raj Construction                  Overdraft          CRISIL BB-/    60
                                                           Stable
Migrated from 'CRISIL B+/Stable Issuer Not Cooperating'
Rodium Realty Ltd                       Proposed LT Bk     -              600     Withdrawn
                                        Loan Fac
Saha's Solvex                           TL                 CRISIL B+/     92      Assigned
                                                           Stable
Saha's Solvex                           CC                 CRISIL B+/     126     Assigned
                                                           Stable
Salarpuria Developers Pvt Ltd           Drop Line          CRISIL A/      133.75  Reaffirmed
                                        Overdraft Fac      Stable
Salarpuria Developers Pvt Ltd           Proposed LT Bk     CRISIL A/      107.5   Reaffirmed
                                        Loan Fac           Stable
Salarpuria Developers Pvt Ltd           TL                 CRISIL A/      133.75  Reaffirmed
                                                           Stable
Salarpuria Housing Pvt Ltd              Proposed LT Bk     CRISIL A/      89      Reaffirmed
                                        Loan Fac           Stable
Salarpuria Housing Pvt Ltd              TL                 CRISIL A/      286     Reaffirmed
                                                           Stable
Salarpuria Real Estates Pvt Ltd         Overdraft          CRISIL A/      175     Reaffirmed
                                                           Stable
Salarpuria Real Estates Pvt Ltd         Proposed LT Bk     CRISIL A/      70      Reaffirmed
                                        Loan Fac           Stable
Salarpuria Real Estates Pvt Ltd         TL                 CRISIL A/      130     Reaffirmed
                                                           Stable
Sambhav Detergents Pvt Ltd              CC                 CRISIL BB/     29      Reaffirmed
                                                           Stable
Sambhav Detergents Pvt Ltd              Proposed FB Bk     CRISIL BB/     54.6    Reaffirmed
                                        Limits             Stable
Sambhav Detergents Pvt Ltd              TL                 CRISIL BB/     15.4    Reaffirmed
                                                           Stable
Sattva Housing Pvt Ltd                  Drop Line          CRISIL A/      299.3   Reaffirmed
                                        Overdraft Fac      Stable
Sattva Real Estate Pvt Ltd              Drop Line          CRISIL A/      60      Reaffirmed
                                        Overdraft Fac      Stable
Sattva Real Estate Pvt Ltd              Proposed LT Bk     CRISIL A/      30      Reaffirmed
                                        Loan Fac           Stable
Sattva Real Estate Pvt Ltd              Rupee TL           CRISIL A/      60      Reaffirmed
                                                           Stable
Sethia Oil Industries Ltd               CC                 CRISIL BBB/    150     Reaffirmed
                                                           Stable
Outlook revised from 'Negative' and rating reaffirmed
Sethia Oil Industries Ltd               Proposed LT Bk     CRISIL BBB/    14.8    Reaffirmed
                                        Loan Fac           Stable
Outlook revised from 'Negative' and rating reaffirmed
Shivalik Power and Steel Pvt Ltd        CC                 CRISIL BBB/    150
                                                           Stable
Migrated from 'CRISIL BB+/Stable Issuer Not Cooperating'
Shivalik Power and Steel Pvt Ltd        LT Loan            CRISIL BBB/    30
                                                           Stable
Migrated from 'CRISIL BB+/Stable Issuer Not Cooperating'
Shivram Synthetics Pvt Ltd              CC                 CRISIL BB/     115     Reaffirmed
                                                           Stable
Shreenathji-Udaipur Tollway Pvt Ltd     NCD                CRISIL A       5450
Continues on 'Rating Watch with Developing Implications
Shyam Ferro Alloys Ltd                  CC                 CRISIL A/      1250    Reaffirmed
                                                           Stable
Shyam Ferro Alloys Ltd                  Proposed BG        CRISIL A/      100     Reaffirmed
                                                           Stable
Shyam Ferro Alloys Ltd                  Proposed LT Bk     CRISIL A/      330     Reaffirmed
                                        Loan Fac           Stable
Soch Apparels Pvt Ltd                   CC                 CRISIL BBB-/   500     Reaffirmed
                                                           Negative
Soch Apparels Pvt Ltd                   Proposed WC Fac    CRISIL BBB-/   269.4   Reaffirmed
                                                           Negative
Soch Apparels Pvt Ltd                   TL                 CRISIL BBB-/   209.3   Assigned
                                                           Negative
Softzone Tech Park Ltd                  Drop Line          CRISIL A/      3000    Reaffirmed
                                        Overdraft Fac      Stable
Softzone Tech Park Ltd                  Rupee TL           CRISIL A/      1750    Reaffirmed
                                                           Stable
Sundaram Alloys Ltd                     CC                 CRISIL A/      350
                                                           Stable
Upgraded from 'CRISIL A-/Stable'
Sundaram Alloys Ltd                     Proposed LT Bk     CRISIL A/      600
                                        Loan Fac           Stable
Upgraded from 'CRISIL A-/Stable'
Synokem Pharmaceuticals Ltd             CC                 CRISIL A-/     115
                                                           Stable
Upgraded from 'CRISIL BBB+/Positive'
Synokem Pharmaceuticals Ltd             Proposed FB Bk     CRISIL A-/     25
                                        Limits             Stable
Upgraded from 'CRISIL BBB+/Positive'
TTK Prestige Ltd                        CC                 CRISIL AA/     1100    Reaffirmed
                                                           Stable
United Shippers Ltd                     External           -              155     Withdrawn
                                        Commercial
                                        Borrowings
United Shippers Ltd                     Proposed LT Bk     -              145     Withdrawn
                                        Loan Fac
United Shippers Ltd                     Rupee TL           -              100     Withdrawn
United Shippers Ltd                     CC                 CRISIL A+/     150     Reaffirmed
                                                           Stable
United Shippers Ltd                     Proposed LT Bk     CRISIL A+/     35      Reaffirmed
                                        Loan Fac           Stable
Ved Sassomeccanica India Pvt Ltd        CC                 CRISIL BB+/    50
                                                           Stable
Issuer Not Cooperating; Migrated from 'CRISIL BBB/Positive'
Ved Sassomeccanica India Pvt Ltd        Proposed LT Bk     CRISIL BB+/    50
                                        Loan Fac           Stable
Issuer Not Cooperating; Migrated from 'CRISIL BBB/Positive'
Ved Sassomeccanica India Pvt Ltd        Standby LOC        CRISIL BB+/    10
                                                           Stable
Issuer Not Cooperating; Migrated from 'CRISIL BBB/Positive'
Vishesh Overseas                        Export Packing     CRISIL B+/     160
                                        Credit & Export    Stable
                                        Bills Negotiation/Foreign Bill discounting*
Downgraded from 'CRISIL BB-/Stable' ; *Includes sublimit of Rs 8 crore for packing
credit/pre-shipment credit in foreign currency and Rs 10 crore for foreign bill discounting
Vishesh Overseas                        Proposed FB Bk     CRISIL B+/     30
                                        Limits             Stable
Downgraded from 'CRISIL BB-/Stable'
Water Edge Builders Pvt Ltd             CC                 CRISIL A/      370     Reaffirmed
                                                           Stable
Wave Distilleries and Breweries Ltd     CC                 CRISIL BBB-    850     Reaffirmed
Continues on 'Rating Watch with Developing Implications'
Wave Distilleries and Breweries Ltd     Proposed LT Bk     CRISIL BBB-    1750    Reaffirmed
                                        Loan Fac
Continues on 'Rating Watch with Developing Implications'
Worldwide Realcon Pvt Ltd               Proposed LT Bk     CRISIL A/      10000   Reaffirmed
                                        Loan Fac           Stable

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