November 1, 2019 / 12:27 PM / a month ago

RPT-ICRA ratings for Indian debt instruments-Nov 1

 (Repeating to add more ratings)
   Nov 1 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating
Agency Ltd. (ICRA) for local debt instruments as of October 31, 2019.

COMPANY                                 INSTRUMENT            RATING      AMOUNT   MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------      -----    ---------

SHORT TERM RATINGS:
-------------------
Abhinav Industries                      Non Fund based- BG    ICRA A4      65      -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Achal Industries Pvt Ltd                ST– FB –              ICRA A4      170     Assigned
(Erstwhile Achal Industries)            interchangeable
Agro Indus Credits Ltd                  ST Bk Fac – Fund basedICRA A4      250     Reaffirmed
Air India Express Ltd                   Short-TL              ICRA A4+     5732.2  Downgraded
                                                                                   from ICRA A3
Air India Express Ltd                   ST, FB Bk Fac         ICRA A4+     7278.5  Downgraded
                                                                                   from ICRA A3
Al Gyas Exports Pvt Ltd                 Packing credit        ICRA A4+     1000    Reaffirmed
Al Gyas Exports Pvt Ltd                 FDBP                  ICRA A4+     -       Reaffirmed
Al Gyas Exports Pvt Ltd                 FUDBP                 ICRA A4+     -       Reaffirmed
Al Gyas Exports Pvt Ltd                 Direct Bills          ICRA A4+     -       Reaffirmed
Al Gyas Exports Pvt Ltd                 Letter of Guarantee   ICRA A4+     -       Reaffirmed
Al Gyas Exports Pvt Ltd                 Unallocated Limits    ICRA A4+     50      Reaffirmed
Cibi International Pvt Ltd              ST – Non Fund Based   ICRA A4+     4       -
Rating moved to the ‘Issuer Not Cooperating’ category
City Union Bank Ltd                     Certificates of       ICRA A1+     250     Reaffirmed
                                        Deposit Programme
Deepak Builders                         ST - Non Fund Based   ICRA A4      350     -
Continues to remain under ‘Issuer Not Cooperating’ category
Evergreen Veneers Pvt Ltd               ST – Non Fund based   ICRA A4      130     -
Rating moved to the ‘Issuer Not Cooperating’ category
Fleur Hotels Pvt Ltd                    ST Non-Fund Based     ICRA A2+     50      Reaffirmed
Removed from rating watch and stable , outlook
Indure Pvt Ltd                          ST - Non-Fund Based   ICRA D       14000   -
Continues to remain under the ‘Issuer Not Cooperating’ category
Fleur Hotels Pvt Ltd                    ST FB                 ICRA A2+     10      Reaffirmed
Removed from rating watch and stable , outlook
Gugan Knitwears Pvt Ltd                 ST – Non Fund Based   ICRA A4+     1.6     -
Rating moved to the ‘Issuer Not Cooperating’ category
Ire-Tex Premier India Pvt Ltd           ST - Non-Fund         ICRA A4      50      -
                                        Based - Working
                                        Capital Fac
Downgraded from ICRA A4+ and continues to remain under ‘Issuer Not Cooperating’ category Rating
Action
National Steel And Agro                 ST                    ICRA D       11995.2 -
Industries Ltd
Issuer did not co-operate; based on best available information
National Steel And Agro                 ST                    ICRA D       2153    -
Industries Ltd
Issuer did not co-operate; based on best available informationJ C Construction Pvt Ltd          
     Non Fund based-BG     ICRA A4      110     -
Rating continues to remain under ‘Issuer Not Cooperating’ category
K. Rasiklal Exim Pvt. Ltd.              ST non-FBL            ICRA A4+     235     Reaffirmed
K. Rasiklal Exim Pvt. Ltd.              ST non-FBL            ICRA A4+     -       Reaffirmed
Kamman Corporation                      Non-fund based – LOC  ICRA A4      -       -
                                        (LC)#
# Sub limit within CC limit 
Rating downgraded from ICRA A4+ and continues to remain under the ‘Issuer Not Cooperating’
category;
Kribhco Infrastructure Ltd              Fund Based – ST       ICRA         850     Reaffirmed
                                                              A1+(CE)&
&: Rating on watch with developing implications
Kribhco Infrastructure Ltd              Non-Fund Based -ST    ICRA         100     Reaffirmed
                                                              A1+(CE)&
&: Rating on watch with developing implications
Lakshmivel Mills Pvt Ltd                ST – Fund Based       ICRA A4+     150     -
Rating moved to the ‘Issuer Not Cooperating’ category
Muthoot Vehicle & Asset                 ST (ST) –             ICRA A2      225     Reaffirmed
Finance Ltd                             Interchangeable                            MA (Negative)
Reaffirmed, outlook revised to Negative from Stable
New Palsana Industrial Co-Op            Non-fund based-BG     ICRA A4      90      Withdrawn
Society Ltd
P. Mangatram Jewellers Pvt Ltd          ST – FB               ICRA A4      150     -
Rating downgraded from ICRA A4+ and moved to ‘Issuer Not Cooperating’ category
P. Mangatram Jewellers Pvt Ltd          ST – fund based       ICRA A4      -       -
                                        (sublimit)
Rating downgraded from ICRA A4+ and moved to ‘Issuer Not Cooperating’ category
Poppys Knitwear Pvt Ltd                 ST - Non Fund Based   ICRA A4      110     -
                                        LT-Fund based/ Cash 9
                                        Credit
Rating continues to be in ‘Issuer Not Cooperating’ category
Premier Industrial Corporation          Fund Based – Bills    ICRA A4      -       -
Ltd                                     Purchased(BP)/Bills
                                        Discounted (BD)
Continues to remain under the ‘Issuer Not Cooperating’ category
Premier Industrial Corporation          Non-fund based – LOC  ICRA A4      -       -
Ltd                                     (LC)
Continues to remain under the ‘Issuer Not Cooperating’ category
Prj Polymers Pvt Ltd                    Non-fund based BG     ICRA A4      60      -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Satish Chand Rajesh Kumar Pvt           ST - Non Fund Based   ICRA A4      80      -
Ltd
Continues to remain under ‘Issuer Not Cooperating’ category
Siac Skh India Cabs                     ST: Non-fund based    ICRA A3+     50      Downgraded
Manufacturing Pvt Ltd                                                              from ICRA A2
SP Textile Processors Pvt Ltd           Unallocated - ST      ICRA A4+     2.5     Reaffirmed
Sparron Vitrified Llp                   Non-fund Based BG     ICRA A4      30      -
Rating moved to the ‘Issuer Not Cooperating’ category
Sri Kpr Infra & Projects Ltd            ST - Non Fund Based   ICRA A4      100     -
revised from ICRA A4+ ,Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Kpr Infra & Projects Ltd            ST - Unallocated      ICRA A4      100     -
revised from ICRA A4+,Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Lakshmi Venkateswara                LT - Fund Based/ CC   ICRA A4      92.5    -
Modern Rice Industry
Continues to remain under the ‘Issuer Not Cooperating’ category
Sri Lakshmi Venkateswara                ST - Non Fund Based   ICRA A4      5       -
Modern Rice Industry
Continues to remain under the ‘Issuer Not Cooperating’ category
Sundaram Asset Management Co.           Sundaram Overnight    ICRA A1+mfs  -       Assigned
Ltd                                     Fund
Sundaram Asset Management Co.           Sundaram Money Market ICRA A1+mfs  -       Assigned
Ltd                                     Fund
Sundaram Asset Management Co.           Sundaram Ultra ST FundICRA A1+mfs  -       Assigned
Ltd
Sundaram Asset Management Co.           Sundaram Money Fund   ICRA A1+mfs  -       outstanding
Ltd
Taurus Packaging Pvt Ltd                Non-FBL - BG          ICRA A4      15      -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Tonza Paper Llp                         Non FB BG             ICRA A4      10      Reaffirmed
Truevalue Engineering Pvt Ltd           Non-Fund based LOC    ICRA A4      275     -
Continues to remain under the ‘Issuer Not Cooperating’ category
Truevalue Engineering Pvt Ltd           Non-Fund based        ICRA A4      5.5     -
                                        Forward Contract
Continues to remain under the ‘Issuer Not Cooperating’ category
Vatsal Construction Co.                 Non-fund Based BG     ICRA A4      185     Reaffirmed
Veto Electropowers (India) Pvt          Non-fund Based        ICRA A4+     70      Withdrawn
Ltd
Vishal Infrastructure Ltd               ST – Non-fund Based   ICRA A4+     1400    -
                                        - BG
Rating downgraded from ICRA A3+ and moved to the ‘Issuer Not Cooperating’ category


MEDIUM TERM RATINGS:
-------------------
Muthoot Vehicle & Asset                 # Fixed deposit       MA           -       Reaffirmed
Finance Ltd                             programme             (Negative)
 # Short-term facilities are interchangeable with long-term facilities; total rated limit is Rs.
100.00 crore 
Berar Finance Ltd                       Medium Term - Fixed   MA-          1050    Reaffirmed
                                        Deposit               (stable);

LONG TERM RATINGS:
-------------------
Abhinav Industries                      FB-CC                 ICRA B       5       -
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Abhinav Industries                      FB-TL                 ICRA B       7       -
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Abhinav Industries                      Unallocated Limits    ICRA B       3       -
                                                              /ICRA A4
Rating continues to remain under ‘Issuer Not Cooperating category
Achal Cashews Pvt Ltd                   LT – FB – TL          ICRA B-      25      Revised from
                                                                                   ICRA BB-
                                                                                   (Stable)
Achal Cashews Pvt Ltd                   LT – FB – CC          ICRA BB-     265     Revised from
                                                                                   ICRA BB-
                                                                                   (Stable)
Achal Industries Pvt Ltd                LT – FB – CC          ICRA B-      180     Assigned
(Erstwhile Achal Industries)
Akasva Infrastructure Pvt Ltd           FB-CC                 ICRA D       505     -
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Akasva Infrastructure Pvt Ltd           Non FB                ICRA D       375     -
Rating continues to remain under the ‘Issuer Not Cooperating’ category
Al Gyas Exports Pvt Ltd                 Foreign Documentary
                                        Bills for Purchase
                                        (FDBP)/Foreign Usance Discount Bill Purchase (FUDBP)
Avadh Infra Project                     LT FBL                ICRA BB-     740     Reaffirmed
Ayyappa Infra Projects Pvt Ltd          LT-Non-Fund Based     -            -
Ayyappa Infra Projects Pvt Ltd          LT-Fund based/ CC     ICRA BBB     90      Reaffirmed
                                                              (Stable)
Ayyappa Infra Projects Pvt Ltd          LT/ST-Non-Fund Based  ICRA BBB     775     Reaffirmed
                                                              (Stable) /
                                                              ICRA A3+
Ayyappa Infra Projects Pvt Ltd          LT/ST-Unallocated     ICRA BBB     49      Reaffirmed
                                                              (Stable) /
                                                              ICRA A3+
Berar Finance Ltd                       LT - Fund Based TL    ICRA BBB     769.2   Reaffirmed
Bhaurao Chavan Sahakari Sakhar          TL                    ICRA B+      229.2   -
Karkhana Ltd
Downgraded from ICRA BB- and moved to Issuer Non-Cooperating category
Bhaurao Chavan Sahakari Sakhar          FB Limits             ICRA B+      910     -
Karkhana Ltd
Downgraded from ICRA BB- and moved to Issuer Non-Cooperating category
Bhaurao Chavan Sahakari Sakhar          Basal Dose Loan       ICRA B+      716.9   -
Karkhana Ltd
Downgraded from ICRA BB- and moved to Issuer Non-Cooperating category
Bhaurao Chavan Sahakari Sakhar          BG                    ICRA B+      40      -
Karkhana Ltd
Downgraded from ICRA BB- and moved to Issuer Non-Cooperating category
Bhaurao Chavan Sahakari Sakhar          Unallocated           ICRA B+      3.9     -
Karkhana Ltd
Downgraded from ICRA BB- and moved to Issuer Non-Cooperating category
Bruhat Bengaluru Mahanagara             Fund based -          ICRA A       12570   -
Palike                                  Term-loans
Upgraded from ICRA A- (SO)^
^In line with the SEBI guidelines, ICRA has discontinued the use of the (SO) suffix alongside
rating symbols for denoting the ratings of instruments backed by structural features (such as
Escrow and DSRA). Thus, the revised rating does not carry the (SO) suffix. 
Bruhat Bengaluru Mahanagara             Unallocated Fac       ICRA A       8430    -
Palike
Upgraded from ICRA A- (SO)^
 ^ In line with the SEBI guidelines, ICRA has discontinued the use of the (SO) suffix alongside
rating symbols for denoting the ratings of instruments backed by structural features (such as
Escrow and DSRA). Thus, the revised rating does not carry the (SO) suffix. 
Capsave Finance Pvt Ltd                 LT Bk Lines           ICRA BBB+    1000    Withdrawn
Cheema Spintex Ltd                      LT - Fund Based       ICRA D       487     -
Continues to remain under the ‘Issuer Not Cooperating’ category
Cibi International Pvt Ltd              LT - Fund Based TL    ICRA BB+     45      -
Rating moved to the ‘Issuer Not Cooperating’ category
Cibi International Pvt Ltd              LT - Fund Based/ CC   ICRA BB+     250     -
Rating moved to the ‘Issuer Not Cooperating’ category
Cibi International Pvt Ltd              LT/ST - Unallocated   ICRA BB+/    5       -
                                                              ICRA A4+
Rating moved to the ‘Issuer Not Cooperating’ category
City Union Bank Ltd                     Issuer Rating^        ICRA AA-     -       Reaffirmed
Deepak Builders                         LT Fund based – CC    ICRA B+      250     -
Rating downgraded from ICRA BB- (Stable) and continues to remain under ‘Issuer Not Cooperating’
category
Diamond India Ltd                       LT – Unallocated      -            -       Reaffirmed
Diamond India Ltd                       LT – Fund based       ICRA BBB     1250    Reaffirmed
Dry Blend Foods Pvt Ltd                 Fund Based – CC       ICRA BBB     50      Upgraded
                                                                                   from ICRA
                                                                                   BBB-
Evergreen Veneers Pvt Ltd               LT – Fund based/CC    ICRA B       120     -
Rating moved to the ‘Issuer Not Cooperating’ category
Evergreen Veneers Pvt Ltd               LT/ST – Unallocated   ICRA B       30.5    -
                                                              /[ICRA}A4
Rating moved to the ‘Issuer Not Cooperating’ category
Fleur Hotels Pvt Ltd                    LT FB – TL            ICRA A-      4300    Reaffirmed
Removed from rating watch and stable , outlook
Fleur Hotels Pvt Ltd                    LT Non-Fund Based     ICRA A-      100     Reaffirmed
Removed from rating watch and stable , outlook
Frontier Raas Pvt Ltd                   LT fund based         ICRA BB      200     Withdrawn
Issuer did not co-operate; based on best available information.
Gruham Exotica                          LT –Fund based/ CC    ICRA B+      150     -
Rating moved to the ‘Issuer Not Cooperating’ category
Gugan Knitwears Pvt Ltd                 LT - Fund Based TL    ICRA BB+     43.7    -
Rating moved to the ‘Issuer Not Cooperating’ category
Gugan Knitwears Pvt Ltd                 LT - Fund Based/ CC   ICRA BB+     45      -
Rating moved to the ‘Issuer Not Cooperating’ category
Gugan Knitwears Pvt Ltd                 LT - Unallocated      ICRA BB+     80      -
Rating moved to the ‘Issuer Not Cooperating’ category
Hindusthan Malleables &                 Fund based – CC       ICRA B+      80      -
Forgings Ltd
Rating downgraded from ICRA BB-(Stable) and Continues to remain under ‘Issuer Not Cooperating’
category.
Hrm Overseas                            Fund based- CC Limits ICRA B       250     -
                                                              (Stable)
Rating moved to the ‘Issuer Not Cooperating’ category
Hrm Overseas                            Fund based- TL        ICRA B       43.5    -
                                                              (Stable)
Rating moved to the ‘Issuer Not Cooperating’ category
Hrm Overseas                            Unallocated           ICRA B       6.5     -
                                                              (Stable)
Rating moved to the ‘Issuer Not Cooperating’ category
Il&Fs Financial Services Ltd            CP programme          ICRA D       40000   -
Rating moved to the ‘Issuer Not Cooperating’ category
Indure Pvt Ltd                          LT - Fund Based/ CC   ICRA D       2500    -
Continues to remain under the ‘Issuer Not Cooperating’ category
Infrastructure Leasing &                NCD Programme         ICRA D       52250   -
Financial Services Ltd
Rating moved to the ‘Issuer Not Cooperating’ category
Infrastructure Leasing &                CP programme          ICRA D       25000   -
Financial Services Ltd
Rating moved to the ‘Issuer Not Cooperating’ category
Infrastructure Leasing &                LT – TL               ICRA D       3500    -
Financial Services Ltd
Rating moved to the ‘Issuer Not Cooperating’ category
Ire-Tex Premier India Pvt Ltd           LT - Fund Based/ CC   ICRA B       40      -
Downgraded from ICRA BB and continues to remain under ‘Issuer Not Cooperating’ category
Ire-Tex Premier India Pvt Ltd           LT - Fund Based TL    ICRA B       45      -
Downgraded from ICRA BB and continues to remain under ‘Issuer Not Cooperating’ category
Ire-Tex Premier India Pvt Ltd           LT / ST - Unallocated ICRA B       5       -
                                                              (Stable)/
                                                              ICRA A4
Rating downgraded from ICRA BB (Stable)/ICRA A4+ and continues to remain under ‘Issuer Not
Cooperating’ category
J C Construction Pvt Ltd                Fund based – CC       ICRA B+      30      -
Rating downgraded from ICRA BB (Stable) and Continues to remain under ‘Issuer Not Cooperating’
category.
J C Construction Pvt Ltd                Fund based – TL       ICRA B+      20      -
Rating downgraded from ICRA BB (Stable) and Continues to remain under ‘Issuer Not Cooperating’
category
K. Rasiklal Exim Pvt. Ltd.              LT FBL                ICRA BB+     -       Reaffirmed
Kamman Corporation                      Fund Based - CC       ICRA B+      10      -
Rating downgraded from ICRA BB+ (Stable) and continues to remain under the ‘Issuer Not
Cooperating’ category;
Kamman Corporation                      Unallocated limits    ICRA B+      50      -
                                                              (Stable) /
                                                              ICRA A4
Rating downgraded from ICRA BB+ (Stable)/ ICRA A4+ and continues to remain under the ‘Issuer Not
Cooperating’ category
Kanwarji Construction Co                LT FBL                ICRA         85      -
                                                              B+(Stable)
Rating downgraded from ICRA BB+(Stable) and continues under ‘Issuer Not Cooperating’ category
Kanwarji Construction Co                LT / ST Non-FBL       ICRA         560     -
                                                              B+(Stable)/
                                                              A4
Rating downgraded from ICRA BB+(Stable)/A4+ and continues under ‘Issuer Not Cooperating’
category
Kribhco Infrastructure Ltd              NCD Programme         ICRA         1250    Reaffirmed
                                                              AA(CE)&
&: Rating on watch with developing implications
Kribhco Infrastructure Ltd              TL                    ICRA         1675    Reaffirmed
                                                              AA(CE)&
&: Rating on watch with developing implications
Lakshmivel Mills Pvt Ltd                LT - Unallocated      ICRA BB+     44.8    -
Rating moved to the ‘Issuer Not Cooperating’ category
Lakshmivel Mills Pvt Ltd                LT - Fund Based/ CC   ICRA BB+     220     -
Rating moved to the ‘Issuer Not Cooperating’ category
Lakshmivel Mills Pvt Ltd                LT - Fund Based TL    ICRA BB+     105.2   -
Rating moved to the ‘Issuer Not Cooperating’ category
Malankara Plantations Ltd               LT - Fund Based/ CC   ICRA BB+     155     -
Rating moved to the ‘Issuer Not Cooperating’ category
Manglam Multiplex Pvt Ltd               LT – Non-fund based   ICRA BBB-    110     -
                                                              (Stable);
Rating moved to the ‘Issuer Not Cooperating’ category
Manglam Multiplex Pvt Ltd               LT – Unallocated      ICRA BBB-    75.5    -
                                                              (Stable);
Rating moved to the ‘Issuer Not Cooperating’ category
Mateswari Royalties                     LT Non-Fund           ICRA         50      -
                                        based/Bk Guarantee    B+(Stable);
Rating continues to remain under ‘Issuer Not Cooperating’ category
Megaton Polypack                        FB - TL               ICRA B+      45      Withdrawn
Issuer did not cooperate; based on best available information
Megaton Polypack                        FB - CC               ICRA B+      15      Withdrawn
Issuer did not cooperate; based on best available information
Midas Agro Foods Pvt Ltd                FB Limits             ICRA B       97.6    -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Muthoot Vehicle & Asset                 LT (LT) – Fund based  ICRA BBB+    1000    Reaffirmed
Finance Ltd                                                   (Negative)
outlook revised to Negative from Stable
National Steel And Agro                 LT                    ICRA D       2005.5  -
Industries Ltd
Issuer did not co-operate; based on best available information
National Steel And Agro                 LT                    ICRA D       179.5   -
Industries Ltd
Issuer did not co-operate; based on best available information

New Palsana Industrial Co-Op            Fund based-TL         ICRA BB-     72.1    Withdrawn
Society Ltd
New Palsana Industrial Co-Op            Unallocated           ICRA BB-/A4  527.9   Withdrawn
Society Ltd
Nsn Reddy Rice Industry                 LT - Unallocated      ICRA B+      340     -
Rating downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category
P. Mangatram Jewellers Pvt Ltd          LT fund based         ICRA B+      665     -
Rating downgraded from ICRA BB+ (Stable) and moved to ‘Issuer Not Cooperating’ category
P. Mangatram Jewellers Pvt Ltd          Unallocated           ICRA B+      5       -
Rating downgraded from ICRA BB+ (Stable) and moved to ‘Issuer Not Cooperating’ category
Poppys Knitwear Pvt Ltd                 LT - Fund Based/ CC   ICRA B+      1020    -
Rating continues to be in ‘Issuer Not Cooperating’ category
Pramuk Infracon Llp                     LT - Unallocated      ICRA B+      100     -
Downgraded from ICRA BB and moved to the ‘Issuer Not Cooperating’ category
Pramuk Infracon Llp                     LT - Fund Based TL    ICRA B+      900     -
Downgraded from ICRA BB and moved to the ‘Issuer Not Cooperating’ category
Premier Industrial Corporation          Fund Based - CC       ICRA B+      450     -
Ltd
Rating downgraded from ICRA BB (Stable) and continues to remain under the ‘Issuer Not
Cooperating’ category
Premier Industrial Corporation          Fund Based – TL       ICRA B+      0.3     -
Ltd
Rating downgraded from ICRA BB (Stable) and continues to remain under the ‘Issuer Not
Cooperating’ category
Premier Industrial Corporation          Unallocated limits    ICRA B+      49.7    -
Ltd
Long term rating downgraded from ICRA BB (Stable) /ICRA A4 ISSUER NOT COOPERATING; continues to
remain under the ‘Issuer Not Cooperating’ category
Prj Polymers Pvt Ltd                    Fund basedCC          ICRA B+      80      -
Rating continues to remain under ‘Issuer Not Cooperating’ category
R. S. Motors Pvt Ltd                    LT Fund based/CC      ICRA B+      300     -
Rating downgraded from ICRA BB (Stable) and continues to remain under ‘Issuer Not Cooperating’
category.
Radiant Hotels Pvt Ltd                  LT Fund Based– TL     ICRA B+      300     -
Continues to remain under ‘Issuer Not Cooperating’ category
Ramana Educational Trust                LT Fund based TL      ICRA BB+     150     -
Rating downgraded from ICRA BBB- (Stable) ISSUER NOT COOPERATING; rating continues to remain
under ‘Issuer Not Cooperating’ category
Reddy Veeranna Investments Pvt          Proposed NCDs         ICRA BB      13730   Assigned
Ltd
Samdariya Abhushan Pvt Ltd              LT Fund based/CC      ICRA B+      250     -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Samdariya Abhushan Pvt Ltd              LT/ Unallocated       ICRA B+      250     -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Satish Chand Rajesh Kumar Pvt           LT Fund based – CC    ICRA B+      10      -
Ltd
Continues to remain under ‘Issuer Not Cooperating’ category
Sbi Funds Management Pvt Ltd            FB Bk Lines           ICRA AAA     200000  Reaffirmed
Seth Ramji Das Modi Vidya               LT – Fund Based – TL  ICRA BB      25      -
Niketan Society
Rating moved to the ‘Issuer Not Cooperating’ category
Seth Ramji Das Modi Vidya               LT – Fund Based – CC  ICRA BB      100     -
Niketan Society
Rating moved to the ‘Issuer Not Cooperating’ category
Seth Ramji Das Modi Vidya               LT – Unallocated      ICRA BB      65      -
Niketan Society
Rating moved to the ‘Issuer Not Cooperating’ category Rating Action
Shiv Vegpro Pvt Ltd                     Fund based - CC       ICRA BB+     300     -
Rating downgraded from ICRA BBB- (Stable) and continues to remain under ‘Issuer Not Cooperating’
category
Shree Hari Yarns Pvt Ltd                Fund based/Non-fund   ICRA         151     Reaffirmed
                                        based – - CC          BB/ICRA A4+
Shri Hari Group                         TL                    ICRA BB-     100     -
Continues to remain under ‘Issuer Not Cooperating’ category
Siac Skh India Cabs                     LT: Fund based TL     ICRA BBB     150     Downgraded
Manufacturing Pvt Ltd                                                              from ICRA
                                                                                   BBB+
Siac Skh India Cabs                     LT: Fund based CC     ICRA BBB     150     Downgraded
Manufacturing Pvt Ltd                                                              from ICRA
                                                                                   BBB+
Siac Skh India Cabs                     LT and ST: UnallocatedICRA BBB/    50      Downgraded
Manufacturing Pvt Ltd                                         ICRA A3+             from ICRA
                                                                                   BBB+(Stable)/
                                                                                   ICRA A2
Siri Tecon                              Fund based            ICRA BB-     7.5     -
Reaffirmed and removed from ‘issuer not cooperating’ category
Siri Tecon                              Non -fund based       ICRA         40      -
                                                              BB-/ICRA A4
Reaffirmed and removed from ‘issuer not cooperating’ category
Siri Tecon                              Unallocated limits    ICRA         52.5    -
                                                              BB-/ICRA A4
Reaffirmed and removed from ‘issuer not cooperating’ category
Sp Textile Processors Pvt Ltd           Non-fund based –      -            -       -
                                        working capital Fac
Sp Textile Processors Pvt Ltd           Fund based – working  ICRA BB+     65      Reaffirmed
                                        capital Fac
Sparron Vitrified Llp                   Fund based-TL         ICRA B+      260     -
Rating moved to the ‘Issuer Not Cooperating’ category
Sparron Vitrified Llp                   Fund based-CC         ICRA B+      60      -
Rating moved to the ‘Issuer Not Cooperating’ category
Sri Gopal Auto Centre                   LT - Fund Based/ CC   ICRA B+      65      -
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Sri Gopal Auto Centre                   LT - Fund Based TL    ICRA B+      1.1     -
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Sri Gopal Auto Centre                   LT - Unallocated      ICRA B+      13.9    -
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Sri Gopal Auto Stores                   LT - Fund Based/ CC   ICRA B+      55      -
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Sri Gopal Auto Stores                   LT - Fund Based TL    ICRA B+      3.8     -
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Sri Gopal Auto Stores                   LT - Unallocated      ICRA B+      11.2    -
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Sri Gopal Automobiles                   LT - Fund Based/ CC   ICRA B+      70      -
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Sri Gopal Automobiles                   LT - Fund Based TL    ICRA B+      30      -
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Sri Gopal Automobiles                   LT - Unallocated      ICRA B+      20      -
Downgraded from ICRA BB- and continues to remain under ‘Issuer Not Cooperating’ category
Sri Kpr Infra & Projects Ltd            LT - Fund Based TL    ICRA B+      46.7    -
revised from ICRA BB+, Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Kpr Infra & Projects Ltd            LT - Fund Based/ CC   ICRA B+      60      -
revised from ICRA BB+, Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Kpr Infra & Projects Ltd            LT - Unallocated      ICRA B+      58.6    -
revised from ICRA BB+, Rating continues to remain under ‘Issuer Not Cooperating’ category
Sri Lakshmi Venkateswara                LT / ST - Unallocated ICRA B+      2.5     -
Modern Rice Industry                                          /ICRA A4
Continues to remain under the ‘Issuer Not Cooperating’ category
Sri Subramanyeswara Polymers            LT - Fund Based/ CC   ICRA B+      70      -
Continues to remain under the ‘Issuer Not Cooperating’ category
Sundaram Asset Management Co.           Sundaram Bking & PSU  ICRA AAAmfs  -       outstanding
Ltd                                     Debt Fund
Sundaram Asset Management Co.           Sundaram Corporate    ICRA AAAmfs  -       outstanding
Ltd                                     Bond Fund
Taurus Packaging Pvt Ltd                Fund based-TL         ICRA BB      16      -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Taurus Packaging Pvt Ltd                Fund based- CC        ICRA BB      65      -
Rating continues to remain under ‘Issuer Not Cooperating’ category
Taurus Packaging Pvt Ltd                Unallocated Limits    ICRA BB      4       -
                                                              /ICRA A4
Rating continues to remain under ‘Issuer Not Cooperating’ category
The Railway Employees                   LT - Fund based TL    ICRA A-      8869.3  Assigned
Co-Operative Credit Society Ltd
The Railway Employees                   LT - Unallocated      ICRA A-      3130.7  Assigned
Co-Operative Credit Society Ltd
The Railway Employees                   LT - Fund based TL    ICRA A-      8869.3  Assigned
Co-Operative Credit Society Ltd
The Railway Employees                   LT - Unallocated      ICRA A-      3130.7  Assigned
Co-Operative Credit Society Ltd
Tonza Paper Llp                         FB CC                 ICRA BB-     90      Reaffirmed
Tonza Paper Llp                         FB TL                 ICRA BB-     99.4    Reaffirmed
Truevalue Engineering Pvt Ltd           Fund based-CC         ICRA B+      125     -
Continues to remain under the ‘Issuer Not Cooperating’ category
Vatsal Construction Co.                 FB CC                 ICRA B+      10      Downgraded
                                                                                   from ICRA
                                                                                   BB-(Stable)
Velammal Educational Trust              LT Fund based CC      ICRA BB+     1055    -
Rating downgraded from ICRA BBB- (Stable) ISSUER NOT COOPERATING; rating continues to remain
under ‘Issuer Not Cooperating’ category
Velammal Educational Trust              LT Fund based TL      ICRA BB+     3773.9  -
Rating downgraded from ICRA BBB- (Stable) ISSUER NOT COOPERATING; rating continues to remain
under ‘Issuer Not Cooperating’ category
Velammal Educational Trust              LT Unallocated        ICRA BB+     1223.9  -
Rating downgraded from ICRA BBB- (Stable) ISSUER NOT COOPERATING; rating continues to remain
under ‘Issuer Not Cooperating’ category
Veto Electropowers (India) Pvt          Fund Based - Working  ICRA BB+     115     Withdrawn
Ltd                                     capital
Vikas Krishi Seva Kendra                LT Fund based – CC    ICRA B+      60      -
Continues to remain under ‘Issuer Not Cooperating’ category
Vishal Infrastructure Ltd               LT – Fund Based - CC  ICRA BB+     400     -
Rating downgraded from ICRA BBB (Stable) and moved to the ‘Issuer Not Cooperating’ category
Yusra Agro Foods Pvt Ltd                Fund Based – Working  ICRA BBB     45      Reaffirmed
                                        Capital
Yusra Agro Foods Pvt Ltd                Unallocated           ICRA BBB     205     Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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