August 30, 2019 / 11:41 AM / 3 months ago

RPT-ICRA ratings for Indian debt instruments-Aug 30

 (Repeating to add more ratings)
    Aug 30 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of August 29, 2019.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------
SHORT TERM RATINGS:
-------------------
Adoration Ceramica Pvt. Ltd.            Non-fund based BG     ICRA A4      25      Reaffirmed
(Removed from Issuer Not Cooperating category)
Amon-Ra Impex Pvt Ltd                   ST - NonFund Based    ICRA A4      78.3    -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Ayana Renewable Power Pvt Ltd           Non-FBL               ICRA A1+&    500     -
(placed on watch with developing implications)
Datacom Products (India) Pvt.           ST – Non- Fund based  ICRA D       -       -
Ltd                                     (interchangeable)
(Issuer did not co-operate; based on best available information.)
Datacom Products (India) Pvt.           ST – NonFund based    ICRA D       20      -
Ltd
(Issuer did not co-operate; based on best available information.)
Decor Paper Mills Ltd                   ST - Nonfund Based    ICRA A4      1.3     -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Excel Foods Pvt Ltd                     ST - Non-Fund Based   ICRA A4      5       -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Forming India Pvt Ltd                   ST – Non Fund Based   ICRA A4      5       Reaffirmed
Geetanjali University                   BG                    ICRA A3      200     -
(Rating moved to ‘Issuer Not Cooperating’ category)
Ini Design Studio Pvt. Ltd.             Non-Fund based BG     ICRA A3      30      Assigned
K. M. Fisheries                         ST - NonFund Based    ICRA A4      1.5     -
                                                              (Stable)
(Issuer did not co-operate; based on best available information.)
Khosla Engineering Pvt Ltd              ST – Non Fund Based   ICRA A4      8.9     Reaffirmed
(Removed from ‘Issuer Not Cooperating’ category)
Lakshmanan Isola Pvt Ltd                ST - Fund Based       ICRA A4      5       -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Lakshmanan Isola Pvt Ltd                ST - NonFund Based    ICRA A4      7       -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Madhucon Granites Ltd                   ST- Fund Based        ICRA A4      425.7   -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Madhucon Granites Ltd                   ST- Non-Fund Based    ICRA A4      91      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Manoj Trading Co.                       ST – Fund Based –     ICRA A4      -       -
                                        Cheques/DD purchases
                                        (Sublimits) Transaction Name
(Rating continues to remain under ‘Issuer Not Cooperating’ category) Current Rated Amount Rating
Action (Rs. crore)
Mbc Infra-Space Pvt. Ltd.               BG                    ICRA A4      41.9    -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Mbc Infra-Space Pvt. Ltd.               Proposed Unallocated  ICRA A4      28.1    -
                                        Limits – ST
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
P Kishanchand Textiles Ltd              ST non-FBL            ICRA A4      150     Reaffirmed
Prognosys Medical Systems Pvt           ST - Non-Fund Based   ICRA A4      10      -
Ltd
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Sharda Construction And                 ST – Fund based       ICRA A4+     100     Downgraded
Corporation Pvt. Ltd.                                                              from ICRA A3+
(Issuer did not co-operate; based on best available information.)
Sharda Construction And                 ST – NonFund based    ICRA A4+     10      Downgraded
Corporation Pvt. Ltd.                                                              from ICRA A3+
(Issuer did not co-operate; based on best available information.)
Sri Jayarama Automotives Pvt            Non Fund Based        ICRA A4      40      -
Ltd
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Sudarshan Tv Channel Ltd                ST FB                 ICRA D       35
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Syscon Engineers                        ST - Non-fund Based   ICRA A4      17.5    -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Zed Vitrified Pvt Ltd                   Non-fund based-BG     ICRA A4      45      -
(Issuer did not co-operate; based on best available information.)
Zed Vitrified Pvt Ltd                   Non-fund based-       ICRA A4      0.6     -
                                        Credit Exposure Limit
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Aequs Engineered Plastics Pvt           Non-FB Fac            ICRA A4      25.5    Withdrawn
Ltd
Altico Capital India Ltd                CP Programme          ICRA A1+     0       Withdrawn
Anoop Forgings Pvt Ltd                  Non-fund based-Inland ICRA A4      5       Reaffirmed
                                        LOC
Asian Construction Company              ST – Non-fund Based   ICRA A3      450
Reason for delay in carrying out periodic review:
- Issuer not cooperating
Bahuleyan Charitable Foundation         ST FB limits          ICRA A4      1       Reaffirmed
Benson Medical Equipments               BG                    ICRA A4      80
(India) Pvt Ltd
Rating continues to remain in ‘Issuer Not Cooperating’ category
Benson Medical Equipments               Forward Contract      ICRA A4      1
(India) Pvt Ltd
Rating continues to remain in ‘Issuer Not Cooperating’ category
Bharat Agri Fert And Realty Ltd         Non-FBL               ICRA A4+     50      Reaffirmed
Bharat Financial Inclusion Ltd          Corporate Governance  CGR2+        -       Withdrawn
                                        Rating
Bicero Tiles Llp                        Unallocated Limits    ICRA A4      10      Reaffirmed
Buildmet Pvt Ltd                        ST - Unallocated      ICRA A4+     87.8
Rating moved to ‘Issuer Not Cooperating’ category
Buildmet Pvt Ltd                        ST - Non-fund based   ICRA A4+     245
Rating moved to ‘Issuer Not Cooperating’ category
D.R. Coats Ink & Resins Pvt Ltd         Fund based – Packing  ICRA A4      34
                                        Credit
Rating continues to remain under ‘Issuer Not Cooperating’ category
D.R. Coats Ink & Resins Pvt Ltd         NFBL                  ICRA A4      94
Rating continues to remain under ‘Issuer Not Cooperating’ category
Decor Paper Mills Ltd                   ST - Nonfund Based    ICRA A4      1.3
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Dmk Particleboard Llp                   Non-Fund Based        ICRA A4
Reason for delay in carrying out periodic review:- Issuer not cooperating
Eric Apparel Pvt Ltd                    Import LC             ICRA A4+     12.5    Withdrawn
Eric Apparel Pvt Ltd                    BG                    ICRA A4+     7.5     Withdrawn
Faith Lumber Pvt. Ltd                   Non fund based ST     ICRA A4      -       Withdrawn
                                        Interchangeable
Iron Triangle Ltd                       Non fund Based BG     ICRA A1      6075    Reaffirmed
Kailash Devbuild (India) Pvt            ST - Non Fund Based – ICRA A4+     280
Ltd                                     BG
Reason for delay in carrying out periodic review. - Issuer not cooperating
Kribhco Infrastructure Ltd              FB shortterm Fac      ICRA         850
                                                              A1+(SO) &
&; rating watch with developing implications/Reason for delay in carrying out periodic review:
- Review process is underway
Kribhco Infrastructure Ltd              Non-fund based ST Fac ICRA         100
                                                              A1+(SO)&
&; rating watch with developing implications/Reason for delay in carrying out periodic review:
- Review process is underway
Manubhai Mangaldas Securities           ST NonFund Based Bk   ICRA A4+     220     -
Pvt Ltd                                 Lines
Reason for delay in carrying out periodic review: Review process is underway.
Muthoot Vehicle & Asset                 ST (ST) –             ICRA A2      225
Finance Ltd                             Interchangeable#
Reason for delay in carrying out periodic review:
- Review process is underway/# Short-term facilities are interchangeable with long term
facilities
Oshina Expo Pvt Ltd                     ST/Non-fund Based     ICRA A4      10
Reason for delay in carrying out periodic review:- Issuer not cooperating
Pravin Electricals Pvt Ltd              Non-fund based – BG   ICRA A4      575     Downgraded
                                                                                   from ICRA A4+
Rating continues to remain under ‘Issuer Not Cooperating’ category
Prometrik Engineering Ltd               ST - Non Fund Based   ICRA A4      50
(Formerly Andhra Sinter Ltd)
Rating Moved to‘Issuer Not Cooperating’ category
R.D.Exports                             ST - Fund             ICRA A4      60
                                        based/Non-fund based^
^consists of packing credit limits interchangeable with Foreign Bills Negotiation (FBN)/Foreign
Bills Discounting (FBD)/Foreign Bills Purchase (FBP)/Advance against Foreign Bills Sent for
Collection (AAFBSC)/Rating continues to remain under ‘Issuer Not Cooperating’ category
S.S. Timber Traders                     Non-fund Based        ICRA A4      80
Rating continues to remain in ‘Issuer Not Cooperating’ category
Salguti Industries Ltd                  ST - Non Fund Based   ICRA A4      82.9    Reaffirmed
Sepal Ceramic                           Non-fund Based – BG   ICRA A4      20
Rating continues to remain under ‘Issuer Not Cooperating’ category
Siechem Technologies Pvt. Ltd           Non FB Fac            ICRA A2+     470     Assigned
Sunpack Barrier Films Pvt. Ltd          Non fund Based - LOC  ICRA A4+     60      Assigned
Sunpack Barrier Films Pvt. Ltd          Non fund Based – LER  ICRA A4+     7.5     Assigned
Vinayak International                   Non fund based        ICRA A4      100
Reason for delay in carrying out periodic review/ Issuer not cooperating on fee and info
 
MEDIUM TERM RATINGS:
-------------------
Muthoot Vehicle & Asset                 Fixed deposit         MA           -
Finance Ltd                             programme
Reason for delay in carrying out periodic review:- Review process is underway
LONG TERM RATINGS:
-------------------
Adoration Ceramica Pvt. Ltd.            FB CC                 ICRA         75      Reaffirmed
                                                              B+(Stable)
(Removed from Issuer Not Cooperating category)
Adoration Ceramica Pvt. Ltd.            FB TL                 ICRA         200     Reaffirmed
                                                              B+(Stable)
(Removed from Issuer Not Cooperating category)
Advent Enterprises Pvt Ltd              LT – Fund Based –     ICRA B       125     -
                                        Dropline Overdraft    (Stable)
                                        Limits
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Amon-Ra Impex Pvt Ltd                   LT - Fund Based CC    ICRA         5       -
                                                              B+(Stable)
(Rating continues to remain In the ‘Issuer Not Cooperating’ category)
Amon-Ra Impex Pvt Ltd                   LT / ST - Unallocated ICRA         116.7   -
                                                              B+(Stable)
                                                              / ICRA A4
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Aplab Ltd                               Fund based - CC       ICRA D       128     -
(Issuer did not co-operate; based on best available information.)
Aplab Ltd                               Fund based – Working  ICRA D       132     -
                                        Capital Demand Loan
(Issuer did not co-operate; based on best available information.)
Aplab Ltd                               Fund based – Bill     ICRA D       110     -
                                        Discounting
(Issuer did not co-operate; based on best available information.)
Aplab Ltd                               Non-fund based – LOC  ICRA D       140     -
(Issuer did not co-operate; based on best available information.)
Ayana Renewable Power Pvt Ltd           Non-FBL               ICRA A+ &    1000    -
(placed on watch with developing implications)
Ayana Renewable Power Pvt Ltd           Unallocated           ICRA         1000    -
                                                              A+&/ICRA
                                                              A1+ &
(placed on watch with developing implications)
Chandralok Textile Industries           FBL                   ICRA D       93.2    -
Pvt Ltd
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Datacom Products (India) Pvt.           LT – Fund based       ICRA D       40      -
Ltd
(Issuer did not co-operate; based on best available information.)
Datacom Products (India) Pvt.           LT/ST – Unallocated   ICRA D/ICRA  40      -
Ltd                                                           D
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Decor Paper Mills Ltd                   LT - Fundbased CC     ICRA         130     -
                                                              B+(Stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Eco Roots Foods India Pvt Ltd           FBL                   ICRA         197     Withdrawn
                                                              B+(Stable)
(Issuer not Cooperating)
Eco Roots Foods India Pvt Ltd           Non-FBL               ICRA         3       Withdrawn
                                                              B+(Stable)
(Issuer not Cooperating)
Emerald Alchymicus Pvt Ltd              FBL                   ICRA D       75      -
(Issuer did not co-operate; based on best available information.)
Emerald Alchymicus Pvt Ltd              Non-FBL               ICRA D       57.5    -
(Issuer did not co-operate; based on best available information.)
Excel Foods Pvt Ltd                     LT FB TL              ICRA BB      5       -
                                                              (Stable)
(Issuer did not co-operate; based on best available information.)
Excel Foods Pvt Ltd                     LT fundbased/CC       ICRA BB      140     -
                                                              (Stable)
(Issuer did not co-operate; based on best available information.)
Forming India Pvt Ltd                   LT – Fund Based (CC)  ICRA         30      Reaffirmed
                                                              BB-(Stable)
Forming India Pvt Ltd                   LT – Fund Based (TL)  ICRA         122.9   Reaffirmed
                                                              BB-(Stable)
Forming India Pvt Ltd                   LT – Unallocated      ICRA         5.1     Reaffirmed
                                                              BB-(Stable)
Geetanjali University                   Working Capital LimitsICRA BBB-    211.6   -
                                                              (Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Geetanjali University                   TL                    ICRA BBB-    438.4   -
                                                              (Stable)
(Rating moved to ‘Issuer Not Cooperating’ category)
Goldstar Metal Solutions Pvt            Fund based – CC       ICRA D       -       -
Ltd
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Goldstar Metal Solutions Pvt            Fund based –          ICRA D       100     -
Ltd                                     Packaging Credit
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Hitech Hydraulics                       LT - Fund Based/ CC   ICRA BB-     30      -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Hitech Hydraulics                       LT - Fund Based TL    ICRA BB-     9.5     -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Hitech Hydraulics                       LT - Non Fund Based   ICRA BB-     30      -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Hitech Hydraulics                       LT - Unallocated      ICRA BB-     30.5    -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Ini Design Studio Pvt. Ltd.             FB Overdraft          ICRA         34.4    Reaffirmed
                                                              BBB-(Stable)
Ini Design Studio Pvt. Ltd.             Unallocated Limits    ICRA         10.6    Reaffirmed
                                                              BBB-(Stable)         /A3
Js Estates And Projects Pvt Ltd         FB                    ICRA BB-     80      -
                                                              (Stable)
(Issuer did not co-operate; based on best available information.)
K. B. Products Pvt Ltd                  Fund Based – CC       ICRA B       54.5    -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
K. B. Products Pvt Ltd                  Unallocated Limit     ICRA B       15.5    -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
K. M. Fisheries                         LT - Fund Based/ CC   ICRA B+      153.5   -
                                                              (Stable)
(Issuer did not co-operate; based on best available information.)
Khosla Engineering Pvt Ltd              LT – Fund Based (CC)  ICRA         207.5   Upgraded to
                                                              BB-(Stable)          ICRA B+
                                                                                   (Stable)
Removed from ‘Issuer Not Cooperating’ category
Khosla Engineering Pvt Ltd              LT – Fund Based (TL)  ICRA         1.7     Upgraded to
                                                              BB-(Stable)          ICRA B+
                                                                                   (Stable)
(Removed from ‘Issuer Not Cooperating’ category)
Khosla Engineering Pvt Ltd              LT / ST –             ICRA         -       Upgraded to
                                        Interchangeable#      BB-(Stable)          ICRA B+
                                                                                   (Stable)/
Reaffirmed
(#Long-term / Short-term interchangeable limit of Rs. 14.50 crore is sub-limit of long-term
fund-based cash credit facility of Rs. 20.75 crore,Removed from ‘Issuer Not Cooperating’
category
Khosla Engineering Pvt Ltd              LT / ST – Unallocated ICRA         131.9   Upgraded to
                                                              BB-(Stable)          ICRA B+
                                                              / ICRA A4            (Stable)/
Reaffirmed
(Removed from ‘Issuer Not Cooperating’ category)
Lakshmanan Isola Pvt Ltd                LT - Fund Based/ CC   ICRA B-      77.5    -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Madhucon Granites Ltd                   LT- Fund Based – TL   ICRA B-      820.6   -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Madhuvan Prasad Infra Pvt Ltd           LT - Fund Based       ICRA         75      -
                                                              B+(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Mahalaxmi Cashew Industries             LT- Fund Based –      ICRA         60      -
                                        Crash Credit          B+(Stable)
(Issuer did not co-operate; based on best available information.)
Mahalaxmi Cashew Industries             LT- Fund Based – TL   ICRA         10      -
                                                              B+(Stable)
(Issuer did not co-operate; based on best available information.)
Manoj Trading Co.                       LT – Fund Based – CC  ICRA B+      300     -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Mbc Infra-Space Pvt. Ltd.               CC                    ICRA B+      30.5    -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Mbc Infra-Space Pvt. Ltd.               Proposed Unallocated  ICRA B+      9.5     -
                                        Limits – LT           (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Mohan Mutha Polytech Pvt Ltd            LT - Fund Based (CC)  ICRA BB+     60      Downgraded
                                                              (CE)                 from ICRA
                                                              (Stable)             BBB-(SO)
(Stable)
Rating moved to the ‘Issuer Not Cooperating’ category
Mohan Mutha Polytech Pvt Ltd            LT - Fund Based (TL)  ICRA BB+     180     Downgraded
                                                              (CE)                 from ICRA
                                                              (Stable)             BBB-(SO)
(Stable)
Rating moved to the ‘Issuer Not Cooperating’ category
P Kishanchand Textiles Ltd              LT FBL^               ICRA         -       Reaffirmed
                                                              B(Stable)
^Sub-limit of short-term non-fund based limit
Palak Ferro Alloys                      Fund based - CC       ICRA D       61      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Palak Ferro Alloys                      Fund based - TL       ICRA D       1       -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Palak Ferro Alloys                      Unallocated           ICRA D       138     -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Prognosys Medical Systems Pvt           LT - Fund Based/ CC   ICRA         25      -
Ltd                                                           B+(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Prognosys Medical Systems Pvt           LT - Non-Fund Based   ICRA         65      -
Ltd                                                           B+(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Seanto Minerals And Energy Ltd          Fund Based – CC       ICRA D       30      -
(Issuer did not co-operate; based on best available information.)
Seanto Minerals And Energy Ltd          Non-fund based – LOC  ICRA D       30      -
(Issuer did not co-operate; based on best available information.)
Shanti Developers                       LT - Fundbased TL     ICRA C       74      -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sharda Construction And                 Fund based – TL       ICRA BB+     782.3   Downgraded
Corporation Pvt. Ltd.                                         (Stable)             from ICRA
                                                                                   BBB(Stable)
(Issuer did not co-operate; based on best available information.)
Sharda Construction And                 LT – Fund based       ICRA BB+     330     Downgraded
Corporation Pvt. Ltd.                   Working Capital       (Stable)             from ICRA
                                                                                   BBB(Stable)
(Issuer did not co-operate; based on best available information.)
Sharda Construction And                 LT – NonFund Based    ICRA BB+     1000    Downgraded
Corporation Pvt. Ltd.                                         (Stable)             from ICRA
                                                                                   BBB(Stable)
(Issuer did not co-operate; based on best available information.)
Sharda Construction And                 LT/ST – Unallocated   ICRA BB+     0.7     Downgraded
Corporation Pvt. Ltd.                                         (Stable) /           from ICRA
                                                              ICRA A4+             BBB
(Stable)/ICRA A3+
(Issuer did not co-operate; based on best available information.)
Shree Hanuman Trust                     LT - Fund Based TL    ICRA         595     -
                                                              B+(Stable)
(Rating continues to remain In the ‘Issuer Not Cooperating’ category)
Shriramkrupa Fibers                     LT - Fundbased TL     ICRA         27.5    -
                                                              B+(Stable)
(Rating continues to remain In the ‘Issuer Not Cooperating’ category)
Shriramkrupa Fibers                     LT - Fundbased CC     ICRA         50      -
                                                              B+(Stable)
(Rating continues to remain In the ‘Issuer Not Cooperating’ category)
Sita Polyweave Pvt. Ltd.                CC                    ICRA B       9.5     -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category Rating action)
Sita Polyweave Pvt. Ltd.                TL                    ICRA B       46.5    -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category Rating action)
Sita Polyweave Pvt. Ltd.                Unallocated Limits    ICRA B       24      -
                                                              (Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category Rating action)
Sri Jayarama Automotives Pvt            Fund Based            ICRA         130     -
Ltd                                                           BB(Stable)
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Sundaram Finance Ltd                    PTC Series A          ICRA AAA(SO) 6000.1  Reaffirmed
- Shri Trust N 2017
Sundaram Finance Ltd                    PTC Series A          ICRA AAA(SO) 5000    Reaffirmed
- Shri Trust O 2017
Sundaram Finance Ltd                    PTC Series A          ICRA AAA(SO) 5120    Reaffirmed
-Shri Trust P 2017 
Sundaram Finance Ltd                    PTC Series A          ICRA AAA(SO) 1752.9  Reaffirmed
-Shri Trust Q 2017 
Sundaram Finance Ltd                    PTC Series A          ICRA AAA(SO) 6946.8  Reaffirmed
-Shri Trust R 2018 
Sundaram Finance Ltd                    PTC Series A          ICRA AAA(SO) 3740.7  Reaffirmed
-Shri Trust S 2018 
Sundaram Finance Ltd                    PTC Series A          ICRA AAA(SO) 4582.8  Reaffirmed
 -Shri Trust T 2018 
Sundaram Finance Ltd                    PTC Series A          ICRA AAA(SO) 7337.5  Reaffirmed
-Shri Trust U 2018 
Sundaram Finance Ltd                    PTC Series A          ICRA AAA(SO) 5508.7  Reaffirmed
-Shri Trust V 2018 
Sundaram Finance Ltd                    PTC Series A          ICRA AAA(SO) -       Reaffirmed
-Shri Trust X 2019 
Syscon Engineers                        LT - FB CC            ICRA         55      Downgraded
                                                              B+(Stable)           from ICRA
                                                                                   BB(Stable)
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Ti Steels Pvt Ltd                       LT - Fundbased TL     ICRA D       11      -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Ti Steels Pvt Ltd                       LT - Fundbased CC     ICRA D       395     -
(Rating continues to remain in the ‘Issuer Not Cooperating’ category)
Tvs Credit Services Ltd                 Silver Trust July     ICRA A+(SO)  17.9    Withdrawn
                                        2016 Second Loss
                                        Facility
Tvs Credit Services Ltd                 Silver Trust July     ICRA AAA(SO) 474.9   Withdrawn
                                        2016 PTC Series A1
Uco Bank                                Upper Tier II Bonds – ICRA A-      5000    Reaffirmed
                                        Basel II
Uco Bank                                Lower Tier II Bonds – ICRA         8000    Reaffirmed
                                        Basel II              A+(Negative)
Wiintrack Exports                       LT - Fund Based TL    ICRA D       30      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Wiintrack Exports                       ST - Fund Based       ICRA D       70      -
(Rating continues to remain under ‘Issuer Not Cooperating’ category )
Zed Vitrified Pvt Ltd                   FB-TL                 ICRA B+      99.6    Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB- (Stable)
(Issuer did not co-operate; based on best available information.)
Zed Vitrified Pvt Ltd                   FB- CC                ICRA B+      100     Downgraded
                                                              (Stable)             from ICRA
                                                                                   BB- (Stable)
(Issuer did not co-operate; based on best available information.)
Zed Vitrified Pvt Ltd                   Unallocated Limit     ICRA B+      96      -
                                                              (Stable) /
                                                              ICRA A4
(Rating continues to remain under ‘Issuer Not Cooperating’ category)
Ab&Co Global Pvt Ltd                    Fund based - CC       ICRA D       #
Rating continues to remain under ‘Issuer Not
Cooperating’ category/#Sub limit of letter of credit facility
Ab&Co Global Pvt Ltd                    Fund based –          ICRA D       #
                                        Buyers
                                        Credit 
Rating continues to remain under ‘Issuer Not
Cooperating’ category/#Sub limit of letter of credit facility
Ab&Co Global Pvt Ltd                    Non-Fund Based –      ICRA D       500
                                        Letter
                                        of Credit
Rating continues to remain under ‘Issuer Not
Cooperating’ category
Ab&Co Global Pvt Ltd                    Non-Fund Based –      ICRA D       #
                                        Bk
                                        Guarantee    
Rating continues to remain under ‘Issuer Not
Cooperating’ category/#Sub limit of letter of credit facility
Aequs Engineered Plastics Pvt           FB - TL               ICRA BB      151.8   Withdrawn
Ltd                                                           (Stable)
Aequs Engineered Plastics Pvt           FB Fac                ICRA BB      90      Withdrawn
Ltd                                                           (Stable)
Ajab Singh And Company                  Fund Based -CC        ICRA         182
                                                              BB-(Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Ajab Singh And Company                  LT - Non-fund Based   ICRA         200
                                                              BB-(Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Anoop Forgings Pvt Ltd                  FB - CC**             ICRA B-      40      Reaffirmed
                                                              (Stable)
**the total fund-based limit cannot exceed Rs. 6.00 crore
Anoop Forgings Pvt Ltd                  FB - Packing Credit** ICRA B-      30      Reaffirmed
                                                              (Stable)
**the total fund-based limit cannot exceed Rs. 6.00 crore
Anoop Forgings Pvt Ltd                  FB - FOBP/ FOUBP/     ICRA B-      30      Reaffirmed
                                        FOUBNLC/ FAUBC/ FABC**(Stable)
**the total fund-based limit cannot exceed Rs. 6.00 crore
Anoop Forgings Pvt Ltd                  LT / ST -             ICRA B-      -       Reaffirmed
                                        Interchangeable       (Stable)/
                                                              ICRA A4
Arohan Financial Services               PTC Series A1         Provisional  655.8   Confirmed as
Ltd-Aavishkaar Msme                                           rating of            final
February
2019                                                 ICRA BBB+(SO)
Asa International India                 PTC Series A1         ICRA AA(SO)  -       Upgraded
Microfinance Ltd-Northern Arc                                                      from ICRA
2018 Mfi Icarus                                                                    A-(SO)
Asa International India                 PTC Series A2         ICRA AA(SO)  -       Upgraded
Microfinance Ltd-Northern Arc                                                      from
ICRA 2018 Mfi Icarus                                                               BBB+(SO)
Ashoka Dhankuni Kharagpur               FB -TL                ICRA         16060   Reaffirmed
Tollway Ltd                                                   BBB+(SO)
                                                              (Stable)
Ashoka Highways (Durg) Ltd              NCD Programme         ICRA A-(SO)  2000    Reaffirmed
                                                              (Stable)
Asian Construction Company              LT– Fund Based        ICRA BBB-    275
                                                              (Positive)
Reason for delay in carrying out periodic review:- Issuer not cooperating
Asian Lakto Industries Ltd              Fund Based -CC        ICRA         130
                                                              B+(Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Backbone Mnmp Highway Pvt. Ltd          FB - TL               ICRA         517     Reaffirmed
                                                              BBB+(Stable)
Backbone Mnmp Highway Pvt. Ltd          Unallocated Limits    ICRA         68      Reaffirmed
                                                              BBB+(Stable)
Bahuleyan Charitable Foundation         LT FB -TL             ICRA         80      Reaffirmed
                                                              BB(Stable)
Bahuleyan Charitable Foundation         LT FB - CC            ICRA         7.5     Reaffirmed
                                                              BB(Stable)
Benson Medical Equipments               CC                    ICRA BB-     15
(India) Pvt Ltd                                               (Stable)
Rating continues to remain in ‘Issuer Not Cooperating’ category
Benson Medical Equipments               Unallocated           ICRA BB-     4
(India) Pvt Ltd                                               (Stable)/A4
Rating continues to remain in ‘Issuer Not Cooperating’ category
Bhagyanagar Chlorides Pvt Ltd           Fund based/CC         ICRA BB      120     Outstanding
                                                              (Stable)
Bhagyanagar Chlorides Pvt Ltd           TL                    ICRA BB      130     Assigned
                                                              (Stable)
Bharat Agri Fert And Realty Ltd         FBL                   ICRA BB      150     Reaffirmed
                                                              (Stable)
Bicero Tiles Llp                        TL                    ICRA         150     Reaffirmed
                                                              B+(Stable)
Bicero Tiles Llp                        CC                    ICRA         70      Reaffirmed
                                                              B+(Stable)
Buildmet Pvt Ltd                        TL                    ICRA BB      47.2
                                                              (Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Buildmet Pvt Ltd                        Fund based-           ICRA BB      120
                                                              (Stable)
Rating moved to ‘Issuer Not Cooperating’ category
Cholamandalam Investment And            Second Loss Facility  ICRA A(SO)   -       Reaffirmed
Finance Co. Ltd-Platinum
Trust
December 2017
Tranche II
Cholamandalam Investment And            PTC Series A          ICRA AAA(SO) -       Reaffirmed
Finance Co. Ltd-Platinum
Trust
December 2017
Tranche II
Cholamandalam Investment And            Second Loss Facility  ICRA AA-(SO) -       Upgraded
Finance Co. Ltd-Platinum                                                           from ICRA
Trust February 2017                                                                A(SO)
Cholamandalam Investment And            PTC Series A          ICRA AAA(SO) -       Reaffirmed
Finance Co. Ltd-Platinum
Trust
February 2017
Cholamandalam Investment And            Second Loss Facility  ICRA A(SO)   -       Reaffirmed
Finance Co. Ltd-Platinum
Trust
February 2018
Cholamandalam Investment And            PTC Series A          ICRA AAA(SO) -       Reaffirmed
Finance Co. Ltd-Platinum
Trust
February 2018
Cholamandalam Investment And            Second Loss Facility  ICRA A+(SO)  -       Upgraded
Finance Co. Ltd-Platinum                                                           from ICRA
Trust June 2017                                                                    A(SO)
Cholamandalam Investment And            PTC Series A          ICRA AAA(SO) -       Reaffirmed
Finance Co. Ltd-Platinum
Trust June 2017
Cholamandalam Investment And            Second Loss Facility  ICRA A+(SO)  -       Upgraded
Finance Co. Ltd-Platinum                                                           from ICRA
Trust March 2017- Tranche II                                                       A(SO)
Cholamandalam Investment And            PTC Series A          ICRA AAA(SO) -       Reaffirmed
Finance Co. Ltd-Platinum
Trust March 2017-
Tranche II
D C Metals                              Fund based - CC       ICRA D       300     -
Rating continues to remain under ‘Issuer Not Cooperating’ category
D.R. Coats Ink & Resins Pvt Ltd         Fund based - CC       ICRA B+      120
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
D.R. Coats Ink & Resins Pvt Ltd         Fund based – TL       ICRA B+      10.4
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Decor Paper Mills Ltd                   LT - Fundbased CC     ICRA B+      130
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Dmk Particleboard Llp                   CC                    ICRA
                                                              B+(Stable)
Reason for delay in carrying out periodic review:- Issuer not cooperating
Dmk Particleboard Llp                   TL                    ICRA
                                                              B+(Stable)
Reason for delay in carrying out periodic review: - Issuer not cooperating
Eric Apparel Pvt Ltd                    PLC /PCFC /FDBD /FDBP ICRA BB+     66      Withdrawn
                                        /PSCFC                (Stable) /
                                                              ICRA A4+
Eric Apparel Pvt Ltd                    FDBN / PSCFC          ICRA BB+     60      Withdrawn
                                                              (Stable) /
                                                              ICRA A4+
Eric Apparel Pvt Ltd                    Unallocated           ICRA BB+     4       Withdrawn
                                                              (Stable) /
                                                              ICRA A4+
Faith Lumber Pvt. Ltd                   Fund based- CC        ICRA B+      217.5   Withdrawn
                                                              (Stable)
Faith Lumber Pvt. Ltd                   Unallocated           ICRA         32.5    Withdrawn
                                                              B+(Stable)
                                                              / ICRA A4
Finolite Ceramic                        Proposed Limits       ICRA B       235
                                                              (Stable) /
                                                              ICRA A4
Rating continues to remain in the ‘Issuer Not Cooperating’ category
G.N. Pal And Sons                       Fund based - CC       ICRA B+      130     Withdrawn
                                                              (stable)
G.N. Pal And Sons                       Fund based - TL       ICRA B+      10      Withdrawn
                                                              (stable)
Gaursons Realty Pvt Ltd                 LT FB – TL            ICRA BBB     1500    Withdrawn
                                                              (SO)
                                                              (Positive)
Himalaya Food International Ltd         LT Fund Based-CC      ICRA D       616.4
Rating continues to remain under ‘Issuer Not Cooperating’ category
Himalaya Food International Ltd         LT Fund Based-TL      ICRA D       1361.1
Rating continues to remain under ‘Issuer Not Cooperating’ category
Himalaya Food International Ltd         LT -Non Fund Based    ICRA D       70
Rating continues to remain under ‘Issuer Not Cooperating’ category
Himalaya Food International Ltd         ST Non fund Based     ICRA D       12.5
Rating continues to remain under ‘Issuer Not Cooperating’ category
India Shelter Finance                   PTC Series A1         ICRA AA-(SO) -       Upgraded
Corporation Ltd-Elbe Sbl                                                           from ICRA
Ifmr Capital 2017                                                                  A+(SO)
India Shelter Finance                   PTC Series A2         ICRA         -       Upgraded
Corporation Ltd-Elbe Sbl                                      BBB+(SO)             from ICRA
Ifmr Capital 2017                                                                  BBB(SO)
India Shelter Finance                   PTC Series A2         ICRA AA(SO)  -       Upgraded
Corporation Ltd-Sinnan                                                             from ICRA
Ifmr Capital 2014                                                                  AA-(SO)
India Shelter Finance                   PTC Series A1         ICRA AA+(SO) -       Upgraded
Corporation Ltd-Sinnan                                                             from ICRA
Ifmr Capital 2014                                                                  AA(SO)
Indiabulls Housing Finance              PTC Series A          ICRA AAA(SO) -       Reaffirmed
Ltd-Innovation Trust
Xx Mar 14
Indiabulls Housing Finance              PTC Series A          ICRA AAA(SO) -       Reaffirmed
Ltd-Innovation Trust
Xxix Sept
2017
Indiabulls Housing Finance              PTC Series A          ICRA AAA(SO) -       Reaffirmed
Ltd-Innovation Trust
XXVIII Jun 2017
Iron Triangle Ltd                       FB/Non-FBL            -            0       -
Iron Triangle Ltd                       FB - TL               ICRA         732.2   Reaffirmed
                                                              A(Stable)
Iron Triangle Ltd                       FB - Working Capital  ICRA         1070    Reaffirmed
                                        Fac                   A(Stable)
Iron Triangle Ltd                       Unallocated Limits    ICRA         340.9   Reaffirmed
                                                              A(Stable) /
                                                              ICRA A1
Kailash Devbuild (India) Pvt            LT –Fund Based – CC   ICRA         100
Ltd                                                           BB+(Stable)
Reason for delay in carrying out periodic review.- Issuer not cooperating
Kribhco Infrastructure Ltd              TL                    ICRA AA(SO)& 1675
&; rating watch with developing implications/Reason for delay in carrying out periodic review:
- Review process is underway
Kribhco Infrastructure Ltd              NCDs                  ICRA AA(SO)& 1250
&; rating watch with developing implications/Reason for delay in carrying out periodic review:
- Review process is underway
L&T Metro Rail (Hyderabad) Ltd          NCD Programme I       ICRA         2500    Reaffirmed
                                        (NCD-I)               AAA(SO)
                                                              (Stable)
L&T Metro Rail (Hyderabad) Ltd          NCD Programme II      ICRA         2500    Reaffirmed
                                        (NCD-II)              AAA(SO)
                                                              (Stable)
L&T Metro Rail (Hyderabad) Ltd          NCD Programme III     ICRA         2500    Reaffirmed
                                        (NCD-III)             AAA(SO)
                                                              (Stable)
L&T Metro Rail (Hyderabad) Ltd          NCD Programme IV      ICRA         1000    Reaffirmed
                                        (NCD-IV)              AAA(SO)
                                                              (Stable)
L&T Metro Rail (Hyderabad) Ltd          NCD Programme V       ICRA         1500    Reaffirmed
                                        (NCD-V)               AAA(SO)
                                                              (Stable)
M/S Karun Rice & General Mills          CC                    ICRA B       65
                                                              (Stable)
Rating continues to remain in ‘Issuer Not Cooperating’ category
M/S Karun Rice & General Mills          Unallocated           ICRA B       5
                                                              (Stable)
Rating continues to remain in ‘Issuer Not Cooperating’ category
Manubhai Mangaldas Securities           LT Fund Based Bk LinesICRA BB      40      -
Pvt Ltd                                                       (Stable)
Reason for delay in carrying out periodic review: Review process is underway.
Mishtann Foods Ltd                      FB CC                 ICRA         379.5   Reaffirmed
                                                              BBB(Stable)
Mishtann Foods Ltd                      FB TL                 ICRA         25.9    Reaffirmed
                                                              BBB(Stable)
Mishtann Foods Ltd                      Unallocated Limits    ICRA         14.6    Reaffirmed
                                                              BBB(Stable)
Moti Industries                         CC Fac                ICRA BB-     100
                                                              (Stable)
Reason for delay in carrying out periodic review- Issuer Not Co-operating
Moti Industries                         Unallocated           ICRA BB-     16
                                                              (Stable)
Reason for delay in carrying out periodic review- Issuer Not Co-operating
Muthoot Vehicle & Asset                 LT (LT) – Fund based  ICRA BBB+    1000
Finance Ltd
Reason for delay in carrying out periodic review:- Review process is underway
Oshina Expo Pvt Ltd                     LT/Fund BasedCC       ICRA B       50
                                                              (Stable)
Reason for delay in carrying out periodic review:- Issuer not cooperating
Oshina Expo Pvt Ltd                     LT/Unallocated        ICRA B       40
                                                              (Stable)
Reason for delay in carrying out periodic review:- Issuer not cooperating
Panache Exports Pvt Ltd                 LT FB Limit           ICRA D       70
Rating continues to remain under ‘Issuer Not Cooperating’ category
Panache Exports Pvt Ltd                 ST FB Limits          ICRA D       210
Rating continues to remain under ‘Issuer Not Cooperating’ category
Panache Exports Pvt Ltd                 ST Non-FBL            ICRA D       27.5
Rating continues to remain under ‘Issuer Not Cooperating’ category
Parvati Solvent Extraction Pvt          Fund based - CC       ICRA D       100
Ltd
Rating continues to remain under ‘Issuer Not Cooperating’ category
Parvati Solvent Extraction Pvt          Fund Based – TL       ICRA D       27.1
Ltd
Rating continues to remain under ‘Issuer Not Cooperating’ category
Pravin Electricals Pvt Ltd              Fund based - CC       ICRA B+      70      Downgraded
                                                              (Stable)             from ICRA BB
                                                                                   (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Prehari Protection Systems              Fund Based - Working  ICRA D       20      Downgraded
Pvt. Ltd                                Capital                                    from ICRA BB
                                                                                   (Stable)
rating continues in the ‘Issuer Not Cooperating’ category
Prehari Protection Systems              Unallocated           ICRA D       3.4     Downgraded
Pvt. Ltd                                                                           from ICRA BB
                                                                                   (Stable)
rating continues in the ‘Issuer Not Cooperating’ category
Prehari Protection Systems              Non-fund Based        ICRA D       26.6    Downgraded
Pvt. Ltd                                                                           from ICRA A4+
rating continues in the ‘Issuer Not Cooperating’ category
Prometrik Engineering Ltd               LT - Fund Based/ CC   ICRA BB-     25
(Formerly Andhra Sinter Ltd)                                  (Stable)
Rating Moved to‘Issuer Not Cooperating’ category
Prometrik Engineering Ltd               LT - Fund Based TL    ICRA BB-     100
(Formerly Andhra Sinter Ltd)                                  (Stable)
Rating Moved to‘Issuer Not Cooperating’ category
Prometrik Engineering Ltd               LT / ST - Unallocated ICRA BB-     125
(Formerly Andhra Sinter Ltd)                                  (Stable)/A4
Rating Moved to‘Issuer Not Cooperating’ category
Protac Foods International Pvt          LT - Fund Based CC    ICRA D       40
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Protac Foods International Pvt          LT - Fund Based TL    ICRA D       180
Ltd
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Rathnavel Subramaniam                   LT: TL                ICRA D       840
Educational Trust
Reason for delay in carrying out periodic review: Issuer Non-Cooperating on information
Roop Automotives Ltd                    LT Fund Based: TL     ICRA BBB+    531.1
                                                              (Stable)
Downgraded from ICRA A-(Stable) / Rating continues to remain under ‘Issuer Not Cooperating’
category
Roop Automotives Ltd                    LT/ST-FBL             ICRA BBB+    1305
                                                              (Stable)
                                                              /ICRA A2
Downgraded to from ICRA A-(Stable)/A2+/ Rating continues to remain under ‘Issuer Not
Cooperating’ category
S.P.Mani And Mohan Dairy                LT - Fund Based/ CC   ICRA BBB-    -       Assigned
(India) Pvt Ltd                                               (Stable)
Salguti Industries Ltd                  LT - Fund Based/ CC   ICRA         174     Reaffirmed
                                                              B+(Stable)
Salguti Industries Ltd                  LT - Fund Based TL    ICRA         76.9    Reaffirmed
                                                              B+(Stable)
Salguti Industries Ltd                  LT - Non Fund Based   ICRA         1.5     Reaffirmed
                                                              B+(Stable)
Salguti Industries Ltd                  LT - Unallocated      ICRA         47.6    Reaffirmed
                                                              B+(Stable)
Sankalp Engineering And                 Fund Based – CC       ICRA D       450
Services Pvt Ltd
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sankalp Engineering And                 Fund Based – TL       ICRA D       390.9
Services Pvt Ltd
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sawlani Synthetics Pvt. Ltd             Bk loans              ICRA         145
                                                              C+/ICRA A4
Reason for delay in carrying out periodic review –Issuer delayed in giving information
Sepal Ceramic                           FB – TL               ICRA B+      12.4
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sepal Ceramic                           FB – CC               ICRA B+      34
                                                              (Stable)
Rating continues to remain under ‘Issuer Not Cooperating’ category
Sepal Ceramic                           Unallocated Limits    ICRA B+      14.9
                                                              (Stable) /
                                                              ICRA A4
Rating continues to remain under ‘Issuer Not Cooperating’ category
Shree Navkar Tex Creations              LT Fund based         ICRA         100
(Erstwhile Navkar Tex                                         B+(Stable)
Creations)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Shri Shyamji Agrico Exports             CC                    ICRA D       152.5
Pvt Ltd
Rating continues to remain in ‘Issuer Not Cooperating’category
Shri Shyamji Agrico Exports             TL                    ICRA D       57.2
Pvt Ltd
Rating continues to remain in ‘Issuer Not Cooperating’category
Shri Shyamji Agrico Exports             Unallocated           ICRA D       2.8
Pvt Ltd
Ratingcontinues to remain in ‘Issuer Not Cooperating’category
Siechem Technologies Pvt. Ltd           FB Fac                ICRA         810     Assigned
                                                              A-(Stable)
Siechem Technologies Pvt. Ltd           Fund based (Sub       ICRA         -       Assigned
                                        limits)               A-(Stable)
Siechem Technologies Pvt. Ltd           LT/ST, Unallocated FacICRA         1260    Assigned
                                                              A-(Stable)           /Outstanding
                                                              / ICRA A2+
Sirwar Renewable Energy Pvt Ltd         LT - Fund Based TL    ICRA         100     Assigned
                                                              BB(Stable)
Small Business Fincredit India          LT Bk Lines Programme ICRA         28656   Assigned
Pvt Ltd                                                       A(stable)            /Outstanding
Small Business Fincredit India          NCD Programme         ICRA         4000    Outstanding
Pvt Ltd                                                       A(stable)
Sri Srinivasa Educational And           LT Fund based         ICRA         903.6
Charitable Trust                                              BB+(Stable)
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Srilanand Mansions Pvt Ltd              LT - TL               ICRA BBB-    400
                                                              (Stable)
Reason for delay in carrying out periodic review: Issuer delay in providing information
Srilanand Mansions Pvt Ltd              LT- Non fundbased     ICRA BBB-    100
                                        limits                (Stable)
Reason for delay in carrying out periodic review: Issuer delay in providing information
Sudarshan Tv Channel Ltd                LT Fund based         ICRA D       164
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sudarshan Tv Channel Ltd                Unallocated           ICRA D       19.8
Rating continues to remain in the ‘Issuer Not Cooperating’ category
Sunpack Barrier Films Pvt. Ltd          FB - CC               ICRA         40      Assigned
                                                              BB+(Stable)
Sunpack Barrier Films Pvt. Ltd          FB -TL                ICRA         49.6    Assigned
                                                              BB+(Stable)
Topland Engines Pvt Ltd                 Packing Credit        -            0       -
Topland Engines Pvt Ltd                 LOC                   -            0       -
Topland Engines Pvt Ltd                 BG                    -            0       -
Topland Engines Pvt Ltd                 CC^                   ICRA BBB+    150     Reaffirmed
                                                              (Stable)
^includes bank guarantee as a sub limit
Topland Engines Pvt Ltd                 Unallocated Limits                 7.5     Reaffirmed
Vinayak International                   FB                    ICRA         200
                                                              B+(Stable)
Reason for delay in carrying out periodic review- Issuer not cooperating on fee and info
Yash Pal & Sons (Huf)                   LT Fund based         ICRA         195
                                                              B+(Stable)
Ratingcontinues to remain in the ‘Issuer Not Cooperating’category
--------------------------------------------------------------------------------------------
$: 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

ICRA 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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