for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

CRISIL ratings for Indian debt instruments-Jul 8

    Jul 8 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of July 5&6, 2019.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Apex Frozen Foods Ltd                   Export Funding*    CRISIL A2+     300     Reaffirmed
*Interchangeable between packing credit in foreign currency, export packing credit, foreign bill
discounting, and letter of credit
Apex Frozen Foods Ltd                   Export Funding^    CRISIL A2+     700     Reaffirmed
^Interchangeable between packing credit in foreign currency, export packing credit, foreign bill
purchase, and standby working capital limit
Apex Frozen Foods Ltd                   Non-FBL@           CRISIL A2+     75      Reaffirmed
@Includes letter of credit and standby letter of credit facilities
Aristo Biotech and Life Science Pvt Ltd LOC                CRISIL A4+     10      Reaffirmed
Bajaj Synthetics Mills Pvt Ltd          BG                 CRISIL A4      15      Reaffirmed
Bharti Infratel Ltd                     CP                 CRISIL A1+     60000   Assigned
Deraz Engineers                         BG                 CRISIL A4+     5       Reaffirmed
(Migrated from 'CRISIL A4+ ISSUER NOT COOPERATING’)
Global Nuts India Pvt Ltd               LOC                CRISIL A4+     40      Reaffirmed
Gopal Snacks Pvt Ltd                    BG                 CRISIL A2+     10      Upgraded from
                                                                                  CRISIL A2
Gopal Sponge and Power Pvt Ltd          BG                 CRISIL A2      12.5    Upgraded from
                                                                                  CRISIL A3+
Gopal Sponge and Power Pvt Ltd          LOC                CRISIL A2      137.5   Upgraded from
                                                                                  CRISIL A3+
Harsha Constructions                    BG                 CRISIL A4+     500     Reaffirmed
Harsha Constructions                    Overdraft          CRISIL A4+     100     Reaffirmed
Indian Overseas Bank                    CDs Programme      CRISIL A1+     -       Reaffirmed
Indofil Industries Ltd                  LOC                CRISIL A1+     4459.7  Reaffirmed
Indofil Industries Ltd                  CP Programme       CRISIL A1+     2000    Reaffirmed
Industrial Metals                       LOC                CRISIL A4+     210     Upgraded from
                                                                                  CRISIL A4
K V Joseph and Sons Pvt Ltd             BG                 CRISIL A4+     270     Reaffirmed
Karamat Tanning Industries              BG                 CRISIL A4+     5       Reaffirmed
Karamat Tanning Industries              Pre Shipment CreditCRISIL A4+     134     Reaffirmed
Katyaini Products Pvt Ltd               Bill Discounting   CRISIL A4      50      -
                                        under LOC
(ISSUER NOT COOPERATING; Revised from 'CRISIL A4+ ISSUER NOT COOPERATING)
Katyaini Products Pvt Ltd               Inland/Import LOC  CRISIL A4      80      -
(ISSUER NOT COOPERATING; Revised from 'CRISIL A4+ ISSUER NOT COOPERATING)
Kayathri Consultants Pvt Ltd            BG                 CRISIL A4      35      Reaffirmed
Kremoint Pharma Pvt Ltd                 Bill Purchase      CRISIL A3      50      Reaffirmed
Kremoint Pharma Pvt Ltd                 Packing Credit     CRISIL A3      20      Reaffirmed
Krishna Steel Product                   BG                 CRISIL A3      29      Reaffirmed
Krishna Steel Product                   LOC                CRISIL A3      386     Reaffirmed
Mangalam Organics Ltd                   LOC                CRISIL A2+     550     Upgraded from
                                                                                  CRISIL A2
MB Power (Madhya Pradesh) Ltd           BG#                CRISIL A3+     5710    Downgraded
                                                                                  from CRISIL A2
# Interchangeable with letter of credit facility to the extent of Rs. 100 crore
MB Power (Madhya Pradesh) Ltd           Foreign Exchange   CRISIL A3+     2700    Downgraded
                                        Forward                                   from CRISIL A2
MB Power (Madhya Pradesh) Ltd           Non-FBL            CRISIL A3+     490     Downgraded
                                                                                  from CRISIL A2
Meghmani Organics Ltd                   LOC & BG           CRISIL A1      350     Reaffirmed
Meghmani Organics Ltd                   LOC & BG!          CRISIL A1      400     Reaffirmed
! Interchangeable with buyer's credit
Nava Bharat Ventures Ltd                BG*                CRISIL A1      780     Reaffirmed
*Interchangeable between letter of credit and bank guarantee
Nava Bharat Ventures Ltd                Letter of Comfort  CRISIL A1      1650    Reaffirmed
Nava Bharat Ventures Ltd                LOC*               CRISIL A1      1100    Reaffirmed
*Interchangeable between letter of credit and bank guarantee
NTPC Ltd                                BG                 CRISIL A1+     28200   Reaffirmed
NTPC Ltd                                LOC                CRISIL A1+     30000   Reaffirmed
NTPC Ltd                                Proposed BG        CRISIL A1+     1800    Reaffirmed
NTPC Ltd                                CP                 CRISIL A1+     180000  Reaffirmed
NTPC-SAIL Power Co. Ltd                 LOC & BG           CRISIL A1+     1000    Reaffirmed
NTPC-SAIL Power Co. Ltd                 CP                 CRISIL A1+     2000    Assigned
P C R Investments Ltd                   ST NCD             CRISIL A2      10000   Assigned
Phil Ispat Pvt Ltd                      BG                 CRISIL A2      10      Upgraded from
                                                                                  CRISIL A3+
Phil Ispat Pvt Ltd                      LOC                CRISIL A2      50      Upgraded from
                                                                                  CRISIL A3+
Phil Ispat Pvt Ltd                      LOC & BG           CRISIL A2      80      Upgraded from
                                                                                  CRISIL A3+
Pinnacle Tele Services Pvt Ltd          BG                 CRISIL A3      50      Reaffirmed
Platinum Polymers Pvt Ltd               LOC                CRISIL A4      7.5     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
(Continues on Rating Watch with Developing Implications)
Prasad and Company (Project Works) Ltd  BG*                CRISIL A4+     3130    -
(Revised from 'CRISIL A4+' to 'CRISIL D' and Simultaneously Upgraded to 'CRISIL A4+')
*Includes Rs 30 crore interchangeable with letter of credit 
Prasad and Company (Project Works) Ltd  BG                 CRISIL A4+     2750    -
(Revised from 'CRISIL A4+' to 'CRISIL D' and Simultaneously Upgraded to 'CRISIL A4+')
President Clothing Company              LOC                CRISIL A4+     60      Reaffirmed
President Clothing Company              Proposed LOC       CRISIL A4+     2.6     Reaffirmed
Ramniklal S. Gosalia and Co.            Letter Of GuaranteeCRISIL A2+     100     Reaffirmed
Ramniklal S. Gosalia and Co.            LOC                CRISIL A2+     900     Reaffirmed
Sanee Infrastructure Pvt Ltd            BG                 CRISIL A4      80      -
(ISSUER NOT COOPERATING)
Semi Exports                            LOC                CRISIL A4+     80      Reaffirmed
Sidhhartha Corporation Pvt Ltd          Foreign Exchange   CRISIL A2      350     Assigned
                                        Forward
Sidhhartha Corporation Pvt Ltd          Overdraft          CRISIL A2      100     Assigned
SRC Infra Developers Pvt Ltd            BG                 CRISIL A3+     3270    Reaffirmed
SRC Infra Developers Pvt Ltd            Overdraft          CRISIL A3+     80      Reaffirmed
Suchem International                    BG                 CRISIL A4      10      Reaffirmed
Sundaram Finance Ltd                    CP                 CRISIL A1+     60000   Reaffirmed
Svatantra Microfin Pvt Ltd              ST Debt Issue      CRISIL A1+     1000    Assigned
Swati Synthetics                        BG                 CRISIL A4      2       -
(ISSUER NOT COOPERATING)
Tagros Chemicals India Pvt Ltd          BG                 CRISIL A1+     65      Reaffirmed
Tagros Chemicals India Pvt Ltd          Export Packing     CRISIL A1+     2945    Reaffirmed
                                        Credit#
#Completely interchangeable with Foreign bill discounting, Pre-Shipment credit in foreign
Currency, Export bills discounting
Tagros Chemicals India Pvt Ltd          LOC                CRISIL A1+     935     Reaffirmed
Tata Motors Finance Ltd                 CP                 CRISIL A1+     70000   Reaffirmed
Tata Motors Finance Solutions Ltd       CP                 CRISIL A1+     25000   Reaffirmed
The Ramco Cements Ltd                   CP Programme       CRISIL A1+     9000    Reaffirmed
Trishan Exports Pvt Ltd                 Foreign Bill       CRISIL A4      20      -
                                        Discounting
(ISSUER NOT COOPERATING)
Trishan Exports Pvt Ltd                 LOC                CRISIL A4      80      -
(ISSUER NOT COOPERATING)
Trishan Exports Pvt Ltd                 Packing Credit     CRISIL A4      50      -
(ISSUER NOT COOPERATING)
Trishan Exports Pvt Ltd                 Proposed ST Bk     CRISIL A4      20      -
                                        Loan Fac
(ISSUER NOT COOPERATING)
Uniseven Engineering And Infrastructure BG                 CRISIL A4+     60      Reaffirmed
Pvt Ltd
Valson Polyester Pvt Ltd                BG                 CRISIL A3      15      Reaffirmed
Valson Polyester Pvt Ltd                LOC                CRISIL A3      60      Reaffirmed
Vijay Transtech Pvt Ltd                 BG                 CRISIL A4      12.5
(ISSUER NOT COOPERATING; Revised from 'CRISIL A4+ ISSUER NOT COOPERATING'*)
Vijay Transtech Pvt Ltd                 LOC                CRISIL A4      12.5
(ISSUER NOT COOPERATING; Revised from 'CRISIL A4+ ISSUER NOT COOPERATING'*)

MEDIUM TERM RATINGS:
-------------------
Indian Overseas Bank                    FD Programme       FAA            2000000 Reaffirmed
NTPC Ltd                                FD                 FAAA           -       Reaffirmed
Sundaram Finance Ltd                    FD Programme       FAAA           -       Reaffirmed



LONG TERM RATINGS:
-------------------
Ajita Sil-Chem Pvt Ltd                  Ratings            -              -       -
(CRISIL is yet to receive adequate information)
Ambe Proptech Pvt Ltd                   LT Loan            CRISIL B+      250     Reaffirmed
Ambe Proptech Pvt Ltd                   Proposed TL        CRISIL B+      70      Reaffirmed
Apex Frozen Foods Ltd                   Foreign Currency TLCRISIL A-      51.7    Reaffirmed
Apex Frozen Foods Ltd                   Proposed LT Bk     CRISIL A-      21      Reaffirmed
                                        Loan Fac
Aristo Biotech and Life Science Pvt Ltd CC                 CRISIL BB-     90      Reaffirmed
Asirvad Microfinance Ltd - Mercury Feb  Series A PTCs      CRISIL A       1214.7  Assigned
2019
Bajaj Synthetics Mills Pvt Ltd          CC                 CRISIL B+      60      Reaffirmed
Bajaj Synthetics Mills Pvt Ltd          Proposed LT Bk     CRISIL B+      1.9     Reaffirmed
                                        Loan Fac
Bajaj Synthetics Mills Pvt Ltd          TL                 CRISIL B+      143.1   Reaffirmed
Capital Infraprojects Pvt Ltd           LT Loan            CRISIL BB      370     Assigned
Cube India Paper Mills Pvt Ltd          CC                 CRISIL D       85      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Cube India Paper Mills Pvt Ltd          Proposed LT Bk     CRISIL D       34.1    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Cube India Paper Mills Pvt Ltd          TL                 CRISIL D       130.9   Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Deraz Engineers                         Open CC            CRISIL BB-     55      Reaffirmed
(Migrated from 'CRISIL BB-/Stable ISSUER NOT COOPERATING')
E-Durables Prefab Pvt Ltd               CC                 -              220     Withdrawn
 (ISSUER NOT COOPERATING)
E-Durables Prefab Pvt Ltd               LOC                -              80      Withdrawn
 (ISSUER NOT COOPERATING)
E-Durables Prefab Pvt Ltd               Proposed LT Bk     -              130.3   Withdrawn
                                        Loan Fac
 (ISSUER NOT COOPERATING)
E-Durables Prefab Pvt Ltd               TL                 -              80.7    Withdrawn
 (ISSUER NOT COOPERATING)
Elpro International Ltd                 Proposed LT Bk     CRISIL BBB-    70      Reaffirmed
                                        Loan Fac
Elpro International Ltd                 TL                 CRISIL BBB-    890     Assigned
Epack Durables Solutions Pvt Ltd        CC                 -              472     Withdrawn
(ISSUER NOT COOPERATING)
Epack Durables Solutions Pvt Ltd        LOC                -              135     Withdrawn
(ISSUER NOT COOPERATING)
Epack Durables Solutions Pvt Ltd        Proposed LT Bk     -              13.1    Withdrawn
                                        Loan Fac
(ISSUER NOT COOPERATING)
Epack Durables Solutions Pvt Ltd        TL                 -              379.9   Withdrawn
(ISSUER NOT COOPERATING)
Ess Kay Fincorp Ltd - Northern Arc 2019 Series A1 PTCs     Provisional    299.8   Assigned
CV Voldemort                                               CRISIL AA- 
Ess Kay Fincorp Ltd - Northern Arc 2019 Series A2 PTCs     Provisional    6.4     Assigned
CV Voldemort                                               CRISIL 
Global Nuts India Pvt Ltd               CC                 CRISIL BB-     45      Reaffirmed
Goldenyellow Paper LLP                  Proposed TL        CRISIL B       72.8    Assigned
Goldenyellow Paper LLP                  Proposed BG        CRISIL B       10      Assigned
Goldenyellow Paper LLP                  Proposed CC Limit  CRISIL B       80      Assigned
Goodwill Developers                     Loan Against       CRISIL BBB-    161     Reaffirmed
                                        Property
Goodwill Developers                     Overdraft          CRISIL BBB-(SO)46.5    Reaffirmed
Goodwill Developers                     Proposed LT Bk     CRISIL BBB-(SO)10      Reaffirmed
                                        Loan Fac
Goodwill Developers                     TL                 CRISIL BBB-(SO)203.5   Assigned
Gopal Snacks Pvt Ltd                    CC                 CRISIL A-      230     Upgraded from
                                                                                  CRISIL
                                                                                  BBB+/Positive
Gopal Snacks Pvt Ltd                    TL                 CRISIL A-      280     Upgraded from
                                                                                  CRISIL
                                                                                  BBB+/Positive
Gopal Sponge and Power Pvt Ltd          CC                 CRISIL BBB+    200     Upgraded from
                                                                                  CRISIL
                                                                                  BBB/Stable
Gopal Sponge and Power Pvt Ltd          Proposed LT Bk     CRISIL BBB+    18      Upgraded from
                                        Loan Fac                                  CRISIL
                                                                                  BBB/Stable
Harsha Constructions                    LT Loan            CRISIL BB      50      Reaffirmed
Harvest Gold Industries Pvt Ltd         Proposed CC Limit  CRISIL BBB+    15      -
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB+'; Removed from 'Rating Watch with Positive
Implications')
Harvest Gold Industries Pvt Ltd         Proposed LT Bk     CRISIL BBB+    85      -
                                        Loan Fac
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB+'; Removed from 'Rating Watch with Positive
Implications')
Hira Automobiles Ltd                    CC                 CRISIL B+      250     -
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB-/Stable ISSUER NOT COOPERATING'*)
Indian Overseas Bank                    Upper Tier-II      CRISIL A-      6553    Withdrawn
                                        Bonds (Under Basel
                                        II) 
Indian Overseas Bank                    Tier-I Perpetual   CRISIL A-      3000    Reaffirmed
                                        Bonds (Under Basel
                                        II) 
Indian Overseas Bank                    Upper Tier-II      CRISIL A-      14770   Reaffirmed
                                        Bonds (Under Basel
                                        II)
Indian Overseas Bank                    Tier II Bonds      CRISIL A+      5000    Assigned
                                        (Under Basel III)
Indian Overseas Bank                    Lower Tier-II      CRISIL A+      3000    Withdrawn
                                        Bonds (Under Basel
                                        II) 
Indian Overseas Bank                    Tier II Bonds      CRISIL A+      3000    Reaffirmed
                                        (Under Basel III)
Indian Overseas Bank                    Tier II Bonds      CRISIL A+      8000    Reaffirmed
                                        (Under Basel III)
Indian Overseas Bank                    Lower Tier-II      CRISIL A+      12900   Reaffirmed
                                        Bonds (Under Basel
                                        II)
Indo Baijin Chemicals Pvt Ltd           External           CRISIL A       640     Reaffirmed
                                        Commercial
                                        Borrowings
Indo Baijin Chemicals Pvt Ltd           Proposed LT Bk     CRISIL A       50      Reaffirmed
                                        Loan Fac
Indo Baijin Chemicals Pvt Ltd           TL                 CRISIL A       960     Reaffirmed
Indo Baijin Chemicals Pvt Ltd           WC Fac             CRISIL A       500     Reaffirmed
Indofil Industries Ltd                  CC                 CRISIL A+      6150    Reaffirmed
Indofil Industries Ltd                  Export Packing     CRISIL A+      800     Reaffirmed
                                        Credit
Indofil Industries Ltd                  Foreign Currency TLCRISIL A+      6570.3  Reaffirmed
Indofil Industries Ltd                  LT Loan            CRISIL A+      850     Reaffirmed
Indofil Industries Ltd                  Proposed WC Fac    CRISIL A+      2450    Reaffirmed
Indofil Industries Ltd                  NCD                CRISIL A+      1500    Reaffirmed
IndoStar Capital Finance Ltd - Star CV  Series A PTCs      Provisional    824.2   Assigned
Trust June 2019                                            CRISIL AAA 
Industrial Metals                       CC                 CRISIL BB-     40      Upgraded from
                                                                                  CRISIL B+
Jagdale Industries Pvt Ltd              Ratings            -              -       -
(CRISIL is yet to receive adequate information)
JMK Motowheels Pvt Ltd                  CC                 CRISIL B+      10      -
(ISSUER NOT COOPERATING)
JMK Motowheels Pvt Ltd                  Channel Financing  CRISIL B+      70      -
(ISSUER NOT COOPERATING)
JMK Motowheels Pvt Ltd                  Proposed LT Bk     CRISIL B+      16.5    -
                                        Loan Fac
(ISSUER NOT COOPERATING)
K V Joseph and Sons Pvt Ltd             CC                 CRISIL BB      70      Reaffirmed
Karamat Tanning Industries              CC                 CRISIL BB+     40      Reaffirmed
Karamat Tanning Industries              TL                 CRISIL BB+     21      Reaffirmed
Katyaini Products Pvt Ltd               CC                 CRISIL B+      40      -
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB/Stable ISSUER NOT COOPERATING)
Katyaini Products Pvt Ltd               Proposed CC Limit  CRISIL B+      10      -
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB/Stable ISSUER NOT COOPERATING)
Kayathri Consultants Pvt Ltd            CC                 CRISIL B-      82.5    Reaffirmed
Kayathri Consultants Pvt Ltd            TL                 CRISIL B-      82.5    Reaffirmed
KLM Axiva Finvest Ltd                   Proposed LT Bk     CRISIL BB+     100     Reaffirmed
                                        Loan Fac
Kolhapur Municipal Corporation          Corporate Credit   CCR BBB+       -       -
                                        Rating
(ISSUER NOT COOPERATING)
Kremoint Pharma Pvt Ltd                 CC                 CRISIL BBB-    35      Reaffirmed
Kremoint Pharma Pvt Ltd                 Proposed LT Bk     CRISIL BBB-    45      Reaffirmed
                                        Loan Fac
Krishna Steel Product                   CC^                CRISIL BBB-    50      Reaffirmed
^full interchangeability with LC 
Kwality Animal Feeds Pvt Ltd            CC                 CRISIL BBB     154.7   Reaffirmed
Kwality Animal Feeds Pvt Ltd            Proposed LT Bk     CRISIL BBB     194.5   Reaffirmed
                                        Loan Fac
Kwality Animal Feeds Pvt Ltd            TL                 CRISIL BBB     235     Reaffirmed
M.P.Agarwal and Co.Pvt Ltd              CC                 CRISIL BB-     60      -
(Migrated from 'CRISIL BB-/Stable ISSUER NOT COOPERATING')
M.P.Agarwal and Co.Pvt Ltd              LT Loan            CRISIL BB-     6.9     -
(Migrated from 'CRISIL BB-/Stable ISSUER NOT COOPERATING')
M.P.Agarwal and Co.Pvt Ltd              Proposed LT Bk     CRISIL BB-     33.1    -
                                        Loan Fac
(Migrated from 'CRISIL BB-/Stable ISSUER NOT COOPERATING')
Mahavir Synthesis Pvt Ltd               CC                 CRISIL BB+     80      Reaffirmed
Mangalam Organics Ltd                   CC                 CRISIL A-      220     Upgraded from
                                                                                  CRISIL BBB+
Mangalam Organics Ltd                   TL                 CRISIL A-      395     Upgraded from
                                                                                  CRISIL BBB+
MB Power (Madhya Pradesh) Ltd           CC                 CRISIL BBB+    10600   Reaffirmed
MB Power (Madhya Pradesh) Ltd           Corporate Loan     CRISIL BBB+    240     Reaffirmed
MB Power (Madhya Pradesh) Ltd           External           CRISIL BBB+    7430    Reaffirmed
                                        Commercial
                                        Borrowings*
* Equivalent to USD12.5446 crore 
MB Power (Madhya Pradesh) Ltd           Proposed LT Bk     CRISIL BBB+    2243.2  Reaffirmed
                                        Loan Fac
MB Power (Madhya Pradesh) Ltd           TL                 CRISIL BBB+    46240   Reaffirmed
Meghmani Organics Ltd                   CC@                CRISIL A+      1500    Reaffirmed
@ Interchangeable between WCDL/EPC/PCFC/PSFC. Interchangeable between Overdraft/ Short Term
Loan/Export & Local Bills Discounted/Export Invoice Financing
Meghmani Organics Ltd                   CC$                CRISIL A+      600     Reaffirmed
$ Interchangeable between Working Capital demand loan (WCDL)/Export Packing Credit (EPC)/
Preshipment Credit in Foreign Currency (PCFC)
Meghmani Organics Ltd                   CC^                CRISIL A+      800     Reaffirmed
^ Interchangeable between CC/WCDL/EPC/Foreign Usance Bills Discounting (FUBD)/Foreign Bills
Purchased (FBP)/PCFC/Post Shipment Credit in Foreign Currency (PSCFC)/Inland Bills Purchased/
Discounted 
Meghmani Organics Ltd                   Export Packing     CRISIL A+      350     Reaffirmed
                                        Credit*
* Interchangeable between Overdraft/ Short Term Loan/Export & Local Bills Discounted/Export
Invoice Financing
Meghmani Organics Ltd                   Proposed LT Bk     CRISIL A+      1000    Reaffirmed
                                        Loan Fac
Meghmani Organics Ltd                   Rupee TL           CRISIL A+      1290    Reaffirmed
Mridhul Timbers Pvt Ltd                 CC                 CRISIL D       60      Reaffirmed
Mridhul Timbers Pvt Ltd                 LOC                CRISIL D       10      Reaffirmed
Mridhul Timbers Pvt Ltd                 Proposed LT Bk     CRISIL D       77.5    Reaffirmed
                                        Loan Fac
Mridhul Timbers Pvt Ltd                 WC Demand Loan     CRISIL D       2.5     Reaffirmed
Muthoot Capital Services Ltd - Vivriti  Series A1 PTCs     CRISIL AA+     641.8   -
Glenn 01 2019
(Converted from Provisional Rating to Final Rating)
Nava Bharat Ventures Ltd                CC                 CRISIL A       660     Reaffirmed
Nava Bharat Ventures Ltd                Rupee TL           CRISIL A       1705    Reaffirmed
Nava Bharat Ventures Ltd                TL                 CRISIL A       4950    Assigned
New Habitat Housing Finance And         Ratings            -              -       -
Development Ltd
(CRISIL is yet to receive adequate information)
Niklesh Cooking Oil Refineries          CC                 CRISIL B+      116     Reaffirmed
Niklesh Cooking Oil Refineries          TL                 CRISIL B+      24      Reaffirmed
NRSS XXIX Transmission Ltd              Non Convertible    CRISIL AAA     30000   Withdrawn
                                        Debentu
NTPC Ltd                                CC                 CRISIL AAA     29750   Reaffirmed
NTPC Ltd                                LT Loan            CRISIL AAA     582931.9Reaffirmed
NTPC Ltd                                Proposed CC Limit@ CRISIL AAA     100250  Reaffirmed
@ Fully Interchangeable with Short term Loan and Working Capital Demand Loan
NTPC Ltd                                Proposed LT Bk     CRISIL AAA     67068.1 Reaffirmed
                                        Loan Fac
NTPC Ltd                                NCD                CRISIL AAA     20000   Assigned
NTPC Ltd                                Bond Issue         CRISIL AAA     135400  Reaffirmed
NTPC Ltd                                NCDs               CRISIL AAA     348343.3Reaffirmed
NTPC Ltd                                NCDs               CRISIL AAA     4725    Reaffirmed
NTPC-SAIL Power Co. Ltd                 LT Loan            CRISIL AA      13298.8 Reaffirmed
NTPC-SAIL Power Co. Ltd                 Proposed LT Bk     CRISIL AA      8051.2  Reaffirmed
                                        Loan Fac
NTPC-SAIL Power Co. Ltd                 WC Demand Loan**   CRISIL AA      2650    Reaffirmed
**Interchangeable to Rs 115 crore non-fund-based limit from SBI; sublimit of Rs 64 crore for
inland/import letter of credit and Rs 60 crore of bank guarantee
Osia Hyper Retail Ltd                   CC                 CRISIL BBB-    117     Upgraded from
                                                                                  CRISIL BB+
Phil Ispat Pvt Ltd                      CC                 CRISIL BBB+    120     Upgraded from
                                                                                  CRISIL
                                                                                  BBB/Stable
Phil Ispat Pvt Ltd                      Proposed LT Bk     CRISIL BBB+    0.2     Upgraded from
                                        Loan Fac                                  CRISIL
                                                                                  BBB/Stable
Pinnacle Tele Services Pvt Ltd          CC                 CRISIL BBB-    76      Reaffirmed
Platinum Polymers Pvt Ltd               CC                 CRISIL B+      50      Downgraded
                                                                                  from CRISIL BB
(Continues on Rating Watch with Developing Implications)
Platinum Polymers Pvt Ltd               Proposed LT Bk     CRISIL B+      10.8    Downgraded
                                        Loan Fac                                  from CRISIL BB
(Continues on Rating Watch with Developing Implications)
Platinum Polymers Pvt Ltd               TL                 CRISIL B+      11.7    Downgraded
                                                                                  from CRISIL BB
(Continues on Rating Watch with Developing Implications)
Prasad and Company (Project Works) Ltd  CC                 CRISIL BB-     1050    -
(Revised from 'CRISIL BB-/Stable' to 'CRISIL D' and Simultaneously Upgraded to 'CRISIL
BB-/Stable')
President Clothing Company              CC                 CRISIL BB+     20      Reaffirmed
President Clothing Company              LT Loan            CRISIL BB+     0.7     Reaffirmed
President Clothing Company              Proposed BG        CRISIL BB+     4.1     Reaffirmed
President Clothing Company              Proposed TL        CRISIL BB+     12.6    Reaffirmed
Prragathi Steel Castings Pvt Ltd        CC                 CRISIL BB-     65      Reaffirmed
Prragathi Steel Castings Pvt Ltd        TL                 CRISIL BB-     13      Reaffirmed
R. K. Blue Metals                       Overdraft          CRISIL B+      125     -
(ISSUER NOT COOPERATING;  Revised from 'CRISIL BB/Stable ISSUER NOT COOPERATING'*)
R1 International India Pvt Ltd          Bill Discounting   -              100     Withdrawn
(Rating Reaffirmed and Withdrawn)
R1 International India Pvt Ltd          Proposed LT Bk     -              700     Withdrawn
                                        Loan Fac
(Rating Reaffirmed and Withdrawn)
R1 International India Pvt Ltd          WC Demand Loan     -              200     Withdrawn
(Rating Reaffirmed and Withdrawn)
Ramniklal S. Gosalia and Co.            LOC*               CRISIL A-      1400    Reaffirmed
*Includes sublimit of cash credit of Rs.5 crore
Ready Roti India Pvt Ltd                Proposed CC Limit  CRISIL BBB+    5       -
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB+'; Removed from 'Rating Watch with Positive
Implications'*)
Ready Roti India Pvt Ltd                Proposed LT Bk     CRISIL BBB+    16.6    -
                                        Loan Fac
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB+'; Removed from 'Rating Watch with Positive
Implications'*)
Ready Roti India Pvt Ltd                Proposed TL        CRISIL BBB+    178.4   -
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB+'; Removed from 'Rating Watch with Positive
Implications'*)
Refex Energy Ltd                        Ratings            -              -       -
(CRISIL is yet to receive adequate information)
Sakuma Exports Ltd                      Ratings            -              -       -
(CRISIL is yet to receive adequate information)
Sanee Infrastructure Pvt Ltd            CC                 CRISIL B       29      -
(ISSUER NOT COOPERATING)
Sanee Infrastructure Pvt Ltd            Proposed CC Limit  CRISIL B       1       -
(ISSUER NOT COOPERATING)
Semi Exports                            CC                 CRISIL BB-     60      Reaffirmed
Seven Islands Shipping Ltd              Foreign Currency TLCRISIL A       4955    Upgraded from
                                                                                  CRISIL A-
Seven Islands Shipping Ltd              Overdraft          CRISIL A       45      Upgraded from
                                                                                  CRISIL A-
Shiv Shankar Rice Mills - Taraori       CC                 CRISIL B+      100     -
 (ISSUER NOT COOPERATING)
Shriram Transport Finance Co. Ltd       Series A PTCs      Provisional    4003.9  Assigned
                                                           CRISIL AAA 
Shriram Transport Finance Co. Ltd       Second loss Fac    Provisional    209.9   Assigned
                                                           CRISIL BBB+
Sidhhartha Corporation Pvt Ltd          Export Packing     CRISIL BBB+    1500    Assigned
                                        Credit
Sidhhartha Corporation Pvt Ltd          Pledge Loan        CRISIL BBB+    390     Assigned
SRC Infra Developers Pvt Ltd            Overdraft          CRISIL BBB     250     Reaffirmed
SRC Infra Developers Pvt Ltd            Proposed WC Fac    CRISIL BBB     650     Reaffirmed
Sri Ramprasad Skyscrapers Pvt Ltd       TL                 CRISIL B+      200     Revised from
                                                                                  CRISIL BB+
(ISSUER NOT COOPERATING)
Suchem International                    Foreign LOC        CRISIL B       100     Downgraded
                                                                                  from CRISIL B+
Sujan Industries                        CC                 CRISIL BBB-    90      Reaffirmed
Sujan Industries                        TL                 CRISIL BBB-    20      Reaffirmed
Sundaram Finance Ltd                    Proposed LT Bk     CRISIL AAA     18500   Reaffirmed
                                        Loan Fac
Sundaram Finance Ltd                    TL                 CRISIL AAA     21500   Reaffirmed
Sundaram Finance Ltd                    NCD                CRISIL AAA     15000   Assigned
Sundaram Finance Ltd                    NCD                CRISIL AAA     5750    Withdrawn
Sundaram Finance Ltd                    Tier-II Bonds      CRISIL AAA     5000    Reaffirmed
Sundaram Finance Ltd                    NCD                CRISIL AAA     48050   Reaffirmed
Sundaram Finance Ltd                    Tier-II Bonds      CRISIL AAA     17671   Reaffirmed
Svatantra Microfin Pvt Ltd              Proposed LT Bk     CRISIL A+      10500   Assigned
                                        Loan Fac
Svatantra Microfin Pvt Ltd              TL                 CRISIL A+      4500    Assigned
SVS Classic Foods                       Ratings            -              -       -
(CRISIL is yet to receive adequate information)
Swati Synthetics                        CC                 CRISIL B+      5       -
(ISSUER NOT COOPERATING)
Swati Synthetics                        TL                 CRISIL B+      73      -
(ISSUER NOT COOPERATING)
Tagros Chemicals India Pvt Ltd          CC                 CRISIL AA-     30      Reaffirmed
Tagros Chemicals India Pvt Ltd          Letter of Comfort  CRISIL AA-     34.6    Reaffirmed
Tagros Chemicals India Pvt Ltd          Proposed LT Bk     CRISIL AA-     104.6   Reaffirmed
                                        Loan Fac*
*Interchangeable with proposed short term, fund based and non-fund based facilities
Tagros Chemicals India Pvt Ltd          TL                 CRISIL AA-     2385.8  Reaffirmed
Tata Motors Finance Ltd                 Perpetual Bonds    CRISIL A+      4150    Reaffirmed
Tata Motors Finance Ltd                 NCDs               CRISIL AA      56050   Reaffirmed
Tata Motors Finance Ltd                 Subordinated Debt  CRISIL AA      14000   Reaffirmed
                                        Programme
Tata Motors Finance Solutions Ltd       NCD                CRISIL AA      10000   Reaffirmed
Tata Motors Finance Solutions Ltd       Subordinated Debt  CRISIL AA      2000    Reaffirmed
Thakur Agro Products                    CC                 CRISIL B+      70      Assigned
Thakur Agro Products                    TL                 CRISIL B+      15      Assigned
The Kuttanad Rubber Co Ltd              CC/ Overdraft Fac  CRISIL D       20      -
(ISSUER NOT COOPERATING)
The Kuttanad Rubber Co Ltd              LT Loan            CRISIL D       54      -
(ISSUER NOT COOPERATING)
Uniseven Engineering And Infrastructure CC                 CRISIL BB-     50      Reaffirmed
Pvt Ltd
Valson Polyester Pvt Ltd                CC                 CRISIL BBB-    185     Reaffirmed
Valson Polyester Pvt Ltd                Proposed LT Bk     CRISIL BBB-    400     Reaffirmed
                                        Loan Fac
Valson Polyester Pvt Ltd                Rupee TL           CRISIL BBB-    120     Reaffirmed
Vijay Transtech Pvt Ltd                 CC                 CRISIL B+      35
ISSUER NOT COOPERATING; Revised from 'CRISIL BB/Stable ISSUER NOT (COOPERATING'*)
Vijay Transtech Pvt Ltd                 Proposed LT Bk     CRISIL B+      40
                                        Loan Fac
(ISSUER NOT COOPERATING; Revised from 'CRISIL BB/Stable ISSUER NOT COOPERATING'*)
Vishwakarma Automotive Pvt Ltd          CC                 CRISIL B+      114     Assigned
Vishwakarma Automotive Pvt Ltd          LT Loan            CRISIL B+      111     Assigned
William Goodacre and Sons India Pvt Ltd Bill Discounting   Withdrawn      120     Withdrawn
William Goodacre and Sons India Pvt Ltd Export Packing     Withdrawn      170     Withdrawn
                                        Credit


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

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

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

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222 , E-mail at
rru.data@thomsonreuters.com)
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up