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CRISIL ratings for Indian debt instruments-Dec 30

    Dec 30  - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of December 29, 2020.


COMPANY                                INSTRUMENT        RATING        AMOUNT MOVEMENT
                                                                      (RS.MLN)
------                                 ----------        ------        -----  ---------
SHORT TERM RATINGS:
-------------------
Astra Microwave Products Ltd           BG                CRISIL A1     5600   Reaffirmed
Astra Microwave Products Ltd           CP                CRISIL A1     200    Reaffirmed
Ayurvet Ltd                            LOC & BG          CRISIL A2+    20     Reaffirmed
Bergwerff Organic India Pvt Ltd        Proposed ST Bk    CRISIL A2+    20     Reassigned
                                       Loan Fac
Bharat Gears Ltd                       Bill Discounting  CRISIL A4+    300    Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Bharat Gears Ltd                       Export Factoring  CRISIL A4+    80     Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Bharat Gears Ltd                       Non-FBL           CRISIL A4+    650    Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Bharat Gears Ltd                       Proposed NFBL     CRISIL A4+    200    Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Bharat Oman Refineries Ltd             Non-FBL           CRISIL A1+    49500  Reaffirmed
Bharat Oman Refineries Ltd             ST Bk Fac         CRISIL A1+    450    Reaffirmed
Bharat Oman Refineries Ltd             CP                CRISIL A1+    12000  Reaffirmed
Castle Rock Fisheries Pvt Ltd          Foreign Exchange  CRISIL A3     25     -
                                       Forward
(Downgraded from 'CRISIL A3+')
Chemrow India Pvt Ltd                  Foreign LOC       CRISIL A4+    330    Reaffirmed
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING')
Devendran Coal International Pvt Ltd   BG                CRISIL A4     10     -
(Downgraded from 'CRISIL A4+')
Dinman Polypacks Pvt Ltd               BG                CRISIL A4+    13.5   Reaffirmed
Dorf-Ketal Chemicals India Pvt Ltd     Non-FBL           CRISIL A1+    380    -
Electronics Corporation of India Ltd   LOC & BG          CRISIL A1+    11276.5Reaffirmed
Electronics Corporation of India Ltd   ST Loan           CRISIL A1+    2500   Reaffirmed
Electronics Corporation of India Ltd   ST Debt           CRISIL A1+    1000   Reaffirmed
Future Parking Pvt Ltd                 BG                CRISIL A2+    45     Reaffirmed
Heather Constructions                  BG                CRISIL A4     80     -
(ISSUER NOT COOPERATING; Revised from 'CRISIL A4+)
Indian Immunologicals Ltd              LOC & BG          CRISIL A1+    600    Reaffirmed
Indostar Home Finance Pvt Ltd          CP                CRISIL A1+    2000   Assigned
Kenge Construction Company             BG                CRISIL A4+    70     Assigned
Koso India Pvt Ltd                     BG                CRISIL A2+    350    Reaffirmed
Koso India Pvt Ltd                     LOC               CRISIL A2+    100    Reaffirmed
Kusumgar Corporates Pvt Ltd            LOC               CRISIL A3+    20     -
(ISSUER NOT COOPERATING; Migrated from 'CRISIL A2)
Meenakshi India Ltd                    BG                CRISIL A4+    2.5    Reaffirmed
Meenakshi India Ltd                    Export Packing    CRISIL A4+    250    Reaffirmed
                                       Credit & Export
                                       Bills Negotiation/Foreign Bill discounting
Meenakshi India Ltd                    LOC               CRISIL A4+    5      Reaffirmed
Nucon Switchgears Pvt Ltd              BG                CRISIL A2+    1100   Reaffirmed
Nucon Switchgears Pvt Ltd              LOC               CRISIL A2+    200    Reaffirmed
Orient Craft Ltd                       Non-FBL           CRISIL A4+    1640   Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Orient Craft Ltd                       Proposed NFBL     CRISIL A4+    110    Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Puran Chand Rice Mills Pvt Ltd         Packing Credit    CRISIL A3     370    -
(Upgraded from 'CRISIL A4+')
Puran Chand Rice Mills Pvt Ltd         Proposed ST Bk    CRISIL A3     16     -
                                       Loan Fac
(Upgraded from 'CRISIL A4+')
Puran Chand Rice Mills Pvt Ltd         Standby Foreign   CRISIL A3     50     -
                                       Bill Exchange
(Upgraded from 'CRISIL A4+')
PVR Projects Ltd                       BG                CRISIL A3+    1020   Reaffirmed
Quality Power Electrical Equipments Pvt BG               CRISIL A3+    47.5   Reaffirmed
Ltd
Quality Power Electrical Equipments Pvt Inland/Import LOC CRISIL A3+   27     Reaffirmed
Ltd
Rajuri Steel Pvt Ltd                   BG                CRISIL A4+    55     Reaffirmed
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING')
Rajuri Steel Pvt Ltd                   LOC               CRISIL A4+    20     Reaffirmed
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING')
Sarjak Container Lines Pvt Ltd         BG                CRISIL A3     15     Reaffirmed
Shubhalakshmi Polyesters Ltd           BG                CRISIL A4+    230    Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Shubhalakshmi Polyesters Ltd           Foreign Exchange  CRISIL A4+    130    Reaffirmed
                                       Forward
(Continues on 'Rating Watch with Negative Implications')
Shubhalakshmi Polyesters Ltd           LOC               CRISIL A4+    5716   Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Siddhi Vinayak Knots and Prints Pvt Ltd ST Rating        CRISIL A4+    -      Withdrawn
(ISSUER NOT COOPERATING)
Siddhi Vinayak Knots and Prints Pvt Ltd CP               CRISIL A4+    50     Withdrawn
(ISSUER NOT COOPERATING)
Siddhi Vinayak Knots and Prints Pvt Ltd CP               CRISIL A4+    50     Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Small Industries Development Bank of   CP Programme      CRISIL A1+    20000  Reaffirmed
India
SSF Plastics India Pvt Ltd             BG                CRISIL A2+    30     Reaffirmed

SSF Plastics India Pvt Ltd             LOC               CRISIL A2+    37.5   Reaffirmed
Suminter India Organics Pvt Ltd        Pre Shipment Credit CRISIL A2+  100    Reaffirmed
The Suminter Organic And Fair Trade    Pre Shipment Fac  CRISIL A2+    75     Reaffirmed
Cotton Ginning Mill Pvt Ltd
Tirupathi Construction Corporation     BG                CRISIL A4+    90     Reaffirmed
(Issuer Not Cooperating)
Tirupathi Construction Corporation     Proposed ST Bk    CRISIL A4+    10     Reaffirmed
                                       Loan Fac
(Issuer Not Cooperating)
Transpek Industry Ltd                  BG                CRISIL A1     4      Reaffirmed
Transpek Industry Ltd                  Inland/Import LOC CRISIL A1     260    Reaffirmed
Transpek Industry Ltd                  LOC               CRISIL A1     305.6  Reaffirmed
Transpek Industry Ltd                  Loan Equivalent   CRISIL A1     25     Reaffirmed
                                       Risk Limits
Trinity Engineers Pvt Ltd              ST Rating         CRISIL A4     -      Reaffirmed
United Overseas Bank Ltd               CDs               CRISIL A1+    2000   Withdrawn
Vidya Wires Pvt Ltd                    BG                CRISIL A2     25     Reaffirmed
 
MEDIUM TERM RATINGS:
-------------------
Small Industries Development Bank of   FD                FAAA/Stable   -      Reaffirmed
India
Transpek Industry Ltd                  FD                FA+/Stable    687.7  Reaffirmed

 

LONG TERM RATINGS:
-------------------
Anjana Projects Pvt Ltd                Corporate Credit  CCR BB/Stable -      -
                                       Rating
(ISSUER NOT COOPERATING; Rating Migrated)
Astra Microwave Products Ltd           CC                CRISIL        950    Reaffirmed
                                                         A/Stable
Astra Microwave Products Ltd           Proposed LT Bk    CRISIL        23.8   Reaffirmed
                                       Loan Fac          A/Stable
Astra Microwave Products Ltd           TL                CRISIL        71.3   Reaffirmed
                                                         A/Stable
Ayurvet Ltd                            CC & WC demand loan CRISIL      130    Reaffirmed
                                                         A-/Stable
(Outlook revised from 'Negative' and rating reaffirmed)
Bergwerff Organic India Pvt Ltd        LT Loan           CRISIL        280    Reaffirmed
                                                         A-/Negative
Bergwerff Organic India Pvt Ltd        Proposed LT Bk    CRISIL        250    Reaffirmed
                                       Loan Fac          A-/Negative
Bergwerff Organic India Pvt Ltd        WC Fac            CRISIL        1200   Assigned
                                                         A-/Negative
Bhagyoday Cotton Industries            CC                CRISIL        250    Assigned
                                                         BB/Stable
Bhagyoday Cotton Industries            TL                CRISIL        7.4    Assigned
                                                         BB/Stable
Bharat Gears Ltd                       FB Fac            CRISIL BB-    450    Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Bharat Gears Ltd                       Proposed FB Bk    CRISIL BB-    50     Reaffirmed
                                       Limits
(Continues on 'Rating Watch with Negative Implications')
Bharat Gears Ltd                       TL                CRISIL BB-    1520   Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Bharat Oman Refineries Ltd             FB Fac            CRISIL AA+    20000  Reaffirmed
(Continues on 'Rating Watch with Developing Implications')
Bharat Oman Refineries Ltd             Proposed FB Bk    CRISIL AA+    37629  -
                                       Limits
(Continues on 'Rating Watch with Developing Implications')
Bharat Oman Refineries Ltd             TL                CRISIL AA+    43791  -
(Continues on 'Rating Watch with Developing Implications')
Bharat Oman Refineries Ltd             FB Fac*           CRISIL AA+    12500  Reaffirmed
(Continues on 'Rating Watch with Developing Implications'. 
*Fully interchangeable with non-fund based limits)
Bharat Oman Refineries Ltd             NCD               CRISIL AA+    14000  -
(Continues on 'Rating Watch with Developing Implications')
Bharat Oman Refineries Ltd             NCD               CRISIL AA+    6000   -
(Continues on 'Rating Watch with Developing Implications')
Bhoomi And Buildings Pvt Ltd           Overdraft         CRISIL        16.5   Assigned
                                                         BB-/Stable
Bhoomi And Buildings Pvt Ltd           Proposed FB Bk    CRISIL        113.5  Assigned
                                       Limits            BB-/Stable
Castle Rock Fisheries Pvt Ltd          Export Packing    CRISIL        625    -
                                       Credit            BBB-/Negative
(Downgraded from 'CRISIL BBB/Stable')
Chemrow India Pvt Ltd                  CC                CRISIL        50     Reaffirmed
                                                         BB/Stable
(Migrated from 'CRISIL BB/Stable ISSUER NOT COOPERATING')
D. S. Rolling Mills Pvt Ltd            CC                CRISIL        100    Reaffirmed
                                                         BB/Stable
(Migrated from 'CRISIL BB/Stable ISSUER NOT COOPERATING')
Devendran Coal International Pvt Ltd   Bill Discounting  CRISIL        50     -
                                                         B+/Stable
(Downgraded from 'CRISIL BB-/Stable')
Devendran Coal International Pvt Ltd   CC                CRISIL        400    -
                                                         B+/Stable
(Downgraded from 'CRISIL BB-/Stable')
Devendran Coal International Pvt Ltd   Foreign LOC       CRISIL        200    -
                                                         B+/Stable
(Downgraded from 'CRISIL BB-/Stable')
Devendran Coal International Pvt Ltd   Proposed LT Bk    CRISIL        210    -
                                       Loan Fac          B+/Stable
(Downgraded from 'CRISIL BB-/Stable')
Devi Construction Company              BG                CRISIL D      40     -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B-/Stable)
Devi Construction Company              CC                CRISIL D      90     -
(ISSUER NOT COOPERATING; Downgraded from 'CRISIL B-/Stable)
Dinman Polypacks Pvt Ltd               CC                CRISIL        170    Reaffirmed
                                                         BB/Stable
Dinman Polypacks Pvt Ltd               Proposed FB Bk    CRISIL        73.5   Reaffirmed
                                       Limits            BB/Stable
Dinman Polypacks Pvt Ltd               TL                CRISIL        13     Reaffirmed
                                                         BB/Stable
Dorf-Ketal Chemicals India Pvt Ltd     External          CRISIL        656.5  -
                                       Commercial        AA-/Stable
                                       Borrowings
Dorf-Ketal Chemicals India Pvt Ltd     Proposed LT Bk    CRISIL        9.5    -
                                       Loan Fac          AA-/Stable
Dorf-Ketal Chemicals India Pvt Ltd     WC Loan           CRISIL        800    -
                                                         AA-/Stable
Dorf-Ketal Chemicals India Pvt Ltd     WC Loan*          CRISIL        3990   -
                                                         AA-/Stable
(*Fungible between fund-based and non-fund-based facilities (not fully interchangeable))
Ejaz Tanning Company                   Packing Credit    CRISIL        200    Assigned
                                                         BB-/Stable
(Assigned; Suspension Revoked)
Electronics Corporation of India Ltd   CC & WC demand loan CRISIL      1500   Reaffirmed
                                                         AA+/Stable
Future Parking Pvt Ltd                 Overdraft         CRISIL        10     Reaffirmed
                                                         A-/Stable
Heather Constructions                  BG                -             90     Withdrawn
(Issuer Not Cooperating)
Heather Constructions                  CC                -             110    Withdrawn
(Issuer Not Cooperating)
Heather Constructions                  Auto loans        CRISIL        16     -
                                                         B/Stable
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB-/Stable)
Heather Constructions                  CC                CRISIL        150    -
                                                         B/Stable
(Issuer Not Cooperating)
Heather Constructions                  LT Loan           CRISIL        24     Assigned
                                                         B/Stable
(Issuer Not Cooperating)
Indian Immunologicals Ltd              CC                CRISIL        900    Reaffirmed
                                                         AA/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Indian Immunologicals Ltd              CC*               CRISIL        650    Reaffirmed
                                                         AA/Positive
(Outlook revised from 'Stable' and rating reaffirmed. 
*Interchangeable with export packing credit and working capital demand loan)
Indian Immunologicals Ltd              CC#               CRISIL        100    Reaffirmed
                                                         AA/Positive
(Outlook revised from 'Stable' and rating reaffirmed. 
#Interchangeable with export packing credit, working capital demand loan and letter of
credit/bank guarantee) 
Indian Immunologicals Ltd              LT Loan           CRISIL        324    Reaffirmed
                                                         AA/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Indian Immunologicals Ltd              Proposed TL       CRISIL        926    Reaffirmed
                                                         AA/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Indostar Home Finance Pvt Ltd          Proposed LT Bk    CRISIL        3000   Assigned
                                       Loan Fac          AA-/Stable
Indostar Home Finance Pvt Ltd          NCD               CRISIL        2000   Assigned
                                                         AA-/Stable
Jayanth Industries                     CC                CRISIL        52     Reaffirmed
                                                         BB-/Stable
Jayanth Industries                     Proposed LT Bk    CRISIL        48     Reaffirmed
                                       Loan Fac          BB-/Stable
Jayanth Industries                     TL                CRISIL        19.2   Reaffirmed
                                                         BB-/Stable
Jayanth Industries                     Warehouse Receipts CRISIL       20     Assigned
                                                         BB-/Stable
Kenge Construction Company             Proposed LT Bk    CRISIL        10     Assigned
                                       Loan Fac          BB+/Stable
Kenge Construction Company             CC                CRISIL        100    Assigned
                                                         BB+/Stable
Koso India Pvt Ltd                     CC                CRISIL        180    Reaffirmed
                                                         A-/Stable
Koso India Pvt Ltd                     WC Fac            CRISIL        200    Reaffirmed
                                                         A-/Stable
Kusumgar Corporates Pvt Ltd            WC Demand Loan    CRISIL        80     -
                                                         BBB/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB+/Stable')
Lhasa Hotel & Restaurant               Overdraft         CRISIL D      58     -
M. P. Ceramics                         CC                CRISIL        250    Reaffirmed
                                                         BB/Stable
Meenakshi India Ltd                    CC                CRISIL        5      Reaffirmed
                                                         BB+/Stable
Meenakshi India Ltd                    LT Loan           CRISIL        2.8    Reaffirmed
                                                         BB+/Stable
Meenakshi India Ltd                    Proposed LT Bk    CRISIL        118.1  Reaffirmed
                                       Loan Fac          BB+/Stable
Mehta and Sons                         CC                CRISIL        95     Reaffirmed
                                                         BB/Stable
Mukkudam Electroenergy Pvt Ltd         Proposed TL       CRISIL        195    Assigned
                                                         B+/Stable
Nucon Switchgears Pvt Ltd              CC                CRISIL        400    Reaffirmed
                                                         A-/Stable
Nucon Switchgears Pvt Ltd              FB Fac            CRISIL        20     Reaffirmed
                                                         A-/Stable
Orient Craft Ltd                       CC*               CRISIL BB-    5000   Reaffirmed
(Continues on 'Rating Watch with Negative Implications'. 
*Interchangeable with export packing credit, packing credit in foreign currency, foreign
documentary bills for purchase, foreign bill negotiation, and foreign bill purchase) 
Orient Craft Ltd                       Proposed CC Limit* CRISIL BB-   250    Reaffirmed
(Continues on 'Rating Watch with Negative Implications'. 
*Interchangeable with export packing credit, packing credit in foreign currency, foreign
documentary bills for purchase, foreign bill negotiation, and foreign bill purchase) 
Orient Craft Ltd                       Proposed LT Bk    CRISIL BB-    30.4   Reaffirmed
                                       Loan Fac
(Continues on 'Rating Watch with Negative Implications')
Orient Craft Ltd                       Rupee TL          CRISIL BB-    3469.6 Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Puran Chand Rice Mills Pvt Ltd         CC/ Overdraft Fac CRISIL        20     -
                                                         BBB-/Stable
(Upgraded from 'CRISIL BB+/Stable')
Puran Chand Rice Mills Pvt Ltd         Foreign Bill      CRISIL        20     -
                                       Discounting       BBB-/Stable
(Upgraded from 'CRISIL BB+/Stable')
PVR Projects Ltd                       CC                CRISIL        30     Reaffirmed
                                                         BBB/Stable
PVR Projects Ltd                       Overdraft         CRISIL        270    Reaffirmed
                                                         BBB/Stable
PVR Projects Ltd                       Proposed LT Bk    CRISIL        730    Reaffirmed
                                       Loan Fac          BBB/Stable
Quality Power Electrical Equipments Pvt CC               CRISIL        20     Reaffirmed
Ltd                                                      BBB/Stable
Quality Power Electrical Equipments Pvt Export Packing   CRISIL        50     Reaffirmed
Ltd                                    Credit            BBB/Stable
R.K.Constructions - Parbhani           BG                CRISIL D      10     -
(Issuer Not Cooperating)
R.K.Constructions - Parbhani           CC                CRISIL D      40     -
(Issuer Not Cooperating)
R.K.Constructions - Parbhani           Proposed CC Limit CRISIL D      30     -
(Issuer Not Cooperating)
Rajuri Steel Pvt Ltd                   CC                CRISIL        325    Reaffirmed
                                                         BB+/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
Rajuri Steel Pvt Ltd                   TL                CRISIL        400    Reaffirmed
                                                         BB+/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
Roar Ceramic LLP                       BG                -             10     Withdrawn
Roar Ceramic LLP                       CC                -             40     Withdrawn
Roar Ceramic LLP                       Proposed LT Bk    -             20     Withdrawn
                                       Loan Fac
Roar Ceramic LLP                       TL                -             50     Withdrawn
Royal Ispat Udyog                      LT Rating         CRISIL        -      Reaffirmed
                                                         BB/Stable
Sai Shipping Company Pvt Ltd           CC                CRISIL        25     -
                                                         B-/Stable
(Upgraded from 'CRISIL D')
Sai Shipping Company Pvt Ltd           Proposed LT Bk    CRISIL        102    -
                                       Loan Fac          B-/Stable
(Upgraded from 'CRISIL D')
Sai Shipping Company Pvt Ltd           TL                CRISIL        163    -
                                                         B-/Stable
(Upgraded from 'CRISIL D')
Sarjak Container Lines Pvt Ltd         CC & WC demand loan CRISIL      120    Reaffirmed
                                                         BBB-/Stable
Sarjak Container Lines Pvt Ltd         Foreign Currency  CRISIL        165    Reaffirmed
                                       Term Loan         BBB-/Stable
Shree Ambe Food Products Pvt Ltd       CC                CRISIL        140    Reaffirmed
                                                         BB+/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
Shree Ambe Food Products Pvt Ltd       WC Demand Loan    CRISIL        20     Reaffirmed
                                                         BB+/Stable
(Migrated from 'CRISIL BB+/Stable ISSUER NOT COOPERATING')
Shriprop Dwellers Pvt Ltd              NCD - Series I    CRISIL D      217    -
(ISSUER NOT COOPERATING)
Shriprop Dwellers Pvt Ltd              NCD - Series II   CRISIL D      500    -
(ISSUER NOT COOPERATING)
Shubhalakshmi Polyesters Ltd           CC                CRISIL BB+    4000   Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Shubhalakshmi Polyesters Ltd           Proposed LT Bk    CRISIL BB+    13.7   Reaffirmed
                                       Loan Fac
(Continues on 'Rating Watch with Negative Implications')
Shubhalakshmi Polyesters Ltd           TL                CRISIL BB+    2710.3 Reaffirmed
(Continues on 'Rating Watch with Negative Implications')
Siddhi Vinayak Knots and Prints Pvt Ltd LT Rating        CRISIL        -      Withdrawn
                                                         BB+/Stable
(ISSUER NOT COOPERATING)
Sisam Granito LLP                      BG                -             42.5   Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Sisam Granito LLP                      CC                -             157.5  Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Sisam Granito LLP                      TL                -             300    Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Small Industries Development Bank of   Bonds             CRISIL        14000  Withdrawn
India                                                    AAA/Stable
SSF Plastics India Pvt Ltd             CC                CRISIL        390    Reaffirmed
                                                         A-/Positive
SSF Plastics India Pvt Ltd             TL                CRISIL        196    Reaffirmed
                                                         A-/Positive
SSF Plastics India Pvt Ltd             WC Demand Loan    CRISIL        381.6  Reaffirmed
                                                         A-/Positive
Suminter India Organics Pvt Ltd        CC                CRISIL        150    Reaffirmed
                                                         A-/Negative
Suminter India Organics Pvt Ltd        Inventory Funding CRISIL        300    Reaffirmed
                                       Fac               A-/Negative
Tata Investment Corporation Ltd        NCD               CRISIL        100    Reaffirmed
                                                         AAA/Stable
Trans Chem Corporation                 CC                CRISIL        290    -
                                                         BBB/Stable
(Upgraded from 'CRISIL BBB-/Stable')
Trans Chem Corporation                 Proposed CC Limit CRISIL        95     -
                                                         BBB/Stable
(Upgraded from 'CRISIL BBB-/Stable')
Transpek Industry Ltd                  CC                CRISIL        850    Reaffirmed
                                                         A/Stable
Transpek Industry Ltd                  Standby LOC       CRISIL        20     Reaffirmed
                                                         A/Stable
Transpek Industry Ltd                  TL                CRISIL        610.9  Reaffirmed
                                                         A/Stable
Trinity Engineers Pvt Ltd              LT Rating         CRISIL        -      Reaffirmed
                                                         B/Stable
Vidya Wires Pvt Ltd                    CC                CRISIL        500    Reaffirmed
                                                         BBB+/Stable
Vidya Wires Pvt Ltd                    LT Loan           CRISIL        50     Reaffirmed
                                                         BBB+/Stable
Vidya Wires Pvt Ltd                    TL                CRISIL        110    Reaffirmed
                                                         BBB+/Stable
Zydex Industries                       CC                CRISIL        150    Reaffirmed
                                                         BB+/Stable
Zydex Industries                       Foreign Bill      CRISIL        20     Reaffirmed
                                       Discounting       BB+/Stable
Zydex Industries                       TL                CRISIL        10     Reaffirmed
                                                         BB+/Stable
Zydex Industries                       WC TL             CRISIL        30     Reaffirmed
                                                         BB+/Stable
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

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

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

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