Crisil Ratings For Indian Debt Instruments-mar 30

Mar 30 – Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of March 27 2020, March 28 2020 and March 29, 2020.

COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
—— ———- —— —– ———
SHORT TERM RATINGS:
——————-
A One Duty Free Pvt Ltd BG CRISIL A4 120 Migrated from
CRISIL A4 and
Withdrawn
(Issuer Not Cooperating)
Agnibina Rice Mills Pvt Ltd BG CRISIL A4 2 Assigned
Amarpali Cylinders Pvt Ltd BG CRISIL A4+ 50.6 Assigned
Aquarius Engineers Pvt Ltd LOC & BG CRISIL A4+ 40 Reaffirmed
Avon Cycles Ltd BG CRISIL A1+ 130 Reaffirmed
Avon Cycles Ltd Bill Discounting CRISIL A1+ 150 Reaffirmed
Avon Cycles Ltd Export PerformanceCRISIL A1+ 10 Assigned
Guarantee
Avon Cycles Ltd Letter Of GuaranteCRISIL A1+ 380 Assigned
Bait Logitech Pvt Ltd BG CRISIL A4 66 Reaffirmed
(Issuer Not Cooperating)
Bhavyasindhu Infra Projects Pvt Ltd BG CRISIL A4 25 Migrated
(Issuer Not Cooperating)
Bhavyasindhu Infra Projects Pvt Ltd Overdraft CRISIL A4 50 Migrated
(Issuer Not Cooperating)
Chandra Bhan Anil Kumar Glass Works LOC CRISIL A4 6.5 Migrated from
CRISIL A4
and Withdrawn
(Issuer Not Cooperating)
Creative Portico Pvt Ltd LOC CRISIL A3+ 100 Assigned
Cruise Appliances Pvt Ltd LOC CRISIL A4+ 206.5 Migrated
(Issuer Not Cooperating)
Cruise Electric Pvt Ltd LOC CRISIL A4+ 110 Reaffirmed
(Issuer Not Cooperating)
DCM Nouvelle Ltd Pre Shipment CrediCRISIL A3+ 520 Assigned
DCM Nouvelle Ltd Post Shipment CRISIL A3+ 600 Assigned
Credit
Superb Minerals India Pvt Ltd ST Loan – 10 Withdrawn
(Issuer Not Cooperating)
DCM Nouvelle Ltd Letter Of GuaranteCRISIL A3+ 7.5 Assigned
DCM Nouvelle Ltd Inland/Import LOC CRISIL A3+ 80 Assigned
Deens Constructions BG CRISIL A4+ 50 Reaffirmed
Dinshaw S Dairy Foods Pvt Ltd BG* CRISIL A2+ 5 Reaffirmed
(*Interchangeable with letter of credit)
Dinshaw S Dairy Foods Pvt Ltd ST Loan CRISIL A2+ 400 Reaffirmed
Eximcorp India Pvt Ltd Proposed LOC CRISIL A4+ 200 –
(Downgraded from CRISIL A3 )
Forstar Frozen Foods Pvt Ltd Packing Credit CRISIL A3+ 450 Reaffirmed
Future Lifestyle Fashions Ltd LOC^ CRISIL A1+ 4750 Reaffirmed
(^Interchangeable with Letter of Undertaking and Bank Guarantee)
Future Lifestyle Fashions Ltd CP# CRISIL A1+ 2900 Reaffirmed
(#Rs 140 crore carved out of Working capital limits)
Geetu Engineering And Constructions PvtBG CRISIL A4+ 75 Migrated from
Ltd CRISIL A4+
and Withdrawn
(Issuer Not Cooperating)
Geetu Engineering And Constructions PvtOverdraft CRISIL A4+ 35 Migrated from
Ltd CRISIL A4+
and Withdrawn
(Issuer Not Cooperating)
GMR Air Cargo and Aerospace EngineeringWC Fac CRISIL A1+ 300 Reaffirmed
Ltd

Grand Motors BG CRISIL A4 17.5 Migrated from
CRISIL A4 and
Withdrawn
(Issuer Not Cooperating)
Hemant Surgical Industries Ltd LOC CRISIL A4+ 100 Migrated from
CRISIL A4+
and Withdrawn
(Issuer Not Cooperating)
Himatsingka Seide Ltd BG CRISIL A2+ 55 –
(Downgraded from CRISIL A1 )
Himatsingka Seide Ltd LOC CRISIL A2+ 2390 –
(Downgraded from CRISIL A1 )
Himatsingka Seide Ltd Packing Credit# CRISIL A2+ 9160 –
(Downgraded from CRISIL A1 .#Interchangeable with bills discounting)
Himatsingka Seide Ltd Post Shipment CRISIL A2+ 250 –
Credit#
(Downgraded from CRISIL A1 .#Interchangeable with bills discounting)
Hinduja Leyland Finance Ltd CP CRISIL A1+ 18000 Reaffirmed
ICICI Securities Primary Dealership LtdCP CRISIL A1+ 15000 Reaffirmed
J&K Vehicleades Pvt Ltd BG CRISIL A4+ 5 Migrated
(Issuer Not Cooperating)
J. K. Engicon Pvt Ltd BG CRISIL A4+ 45 Migrated from
CRISIL A4
(Issuer Not Cooperating)
Jagdamba Oil and General Mills Proposed ST Bk CRISIL A4+ 50 Reaffirmed
Loan Fac
(Issuer Not Cooperating)
Jaikrishnaa Autosales Pvt Ltd Inventory Funding CRISIL A4+ 120 Migrated from
Fac CRISIL A4+
and Withdrawn
(Issuer Not Cooperating)
Jaikrishnaa Autosales Pvt Ltd Overdraft CRISIL A4+ 35 Migrated from
CRISIL A4+
and Withdrawn
(Issuer Not Cooperating)
Joseph Velupuzhakkal BG CRISIL A4 20 Migrated
(Issuer Not Cooperating)
Kamakshi Jute Industries Ltd Non-FBL CRISIL A3 12.5 Reaffirmed
Kamarhatty Co Ltd BG CRISIL A3 46 Reaffirmed
Kamarhatty Co Ltd LOC CRISIL A3 25 Reaffirmed
Kanhav Creation Pvt Ltd LOC CRISIL A4+ 15 Migrated from
CRISIL A4+
and Withdrawn
(Issuer Not Cooperating)
Konuparamban Traders BG CRISIL A4+ 2.5 Reaffirmed
(Issuer Not Cooperating)
Kundu Cold Storage Pvt Ltd BG CRISIL A4 0.5 Assigned
Lotus Powergear Pvt Ltd Bill Discounting CRISIL A4 50 Reaffirmed
under LOC
(Issuer Not Cooperating)
Lotus Powergear Pvt Ltd LOC & BG CRISIL A4 80 Reaffirmed
(Issuer Not Cooperating)
Magsons Exports. Foreign Bill CRISIL A4+ 30 Migrated from
Discounting CRISIL A4+
and Withdrawn
(Issuer Not Cooperating)
Magsons Exports. Packing Credit in CRISIL A4+ 70 Migrated from
Foreign Currency CRISIL A4+
and Withdrawn
(Issuer Not Cooperating)
Maha Maruti Logistics Pvt Ltd BG CRISIL A4 70 Reaffirmed
(Issuer Not Cooperating)
Manjira Machine Builders Pvt Ltd BG CRISIL A4+ 85 Migrated
(Issuer Not Cooperating)
Manjira Machine Builders Pvt Ltd LOC CRISIL A4+ 20 Migrated
(Issuer Not Cooperating)
Maruti Constructions BG CRISIL A4+ 70 Reaffirmed
(Issuer Not Cooperating)
Maruti Constructions Overdraft CRISIL A4+ 40 Reaffirmed
(Issuer Not Cooperating)
Mathew Associates Hook – Up & Weld BG CRISIL A4 105 Reaffirmed
Services
Maxivision Eye Hospitals Pvt Ltd BG CRISIL A3 5 Reassigned
Morning Staar Apparels Bill Purchase CRISIL A4+ 30 Migrated
(Issuer Not Cooperating)
Morning Staar Apparels Packing Credit CRISIL A4+ 30 Migrated
(Issuer Not Cooperating)
Mother Theressa Educational Society BG CRISIL A4 17 Revised from
CRISIL A4+
(Issuer Not Cooperating)
National Plasto Moulding BG CRISIL A3 15 Reaffirmed
National Plasto Products Pvt Ltd BG CRISIL A3 15 Reaffirmed
Neptune Systems Pvt Ltd BG CRISIL A4+ 90 Reaffirmed
(Issuer Not Cooperating)
Orient Craft Ltd Non-FBL CRISIL A3 1640 Reaffirmed
Orient Craft Ltd Proposed NFBL CRISIL A3 110 Reaffirmed
Padmavati Infrastructure Company BG CRISIL A4+ 200 Reaffirmed
(Issuer Not Cooperating)
Pathanjali Silks Overdraft CRISIL A4 100 Reaffirmed
(Issuer Not Cooperating)
Piaggio Vehicles Pvt Ltd BG CRISIL A1 1000 Downgraded
from CRISIL
A1+
Piaggio Vehicles Pvt Ltd Bill Discounting CRISIL A1 1400 Downgraded
from CRISIL
A1+
Piaggio Vehicles Pvt Ltd Bill Discounting^ CRISIL A1 300 Downgraded
from CRISIL
A1+
^Interchangeable with Letter of Credit and Bank Guarantee
Piaggio Vehicles Pvt Ltd LOC & BG CRISIL A1 3000 Downgraded
from CRISIL
A1+
Piaggio Vehicles Pvt Ltd Proposed Bill CRISIL A1 1200 Downgraded
Discounting Fac from CRISIL
A1+
Platinum Ceramic Pvt Ltd BG CRISIL A4+ 14 Reaffirmed
(Issuer Not Cooperating)
Power Control Equipments BG CRISIL A4+ 50 Migrated
(Issuer Not Cooperating)
Power Finance Corporation Ltd ST Borrowing CRISIL A1+ 200000 Assigned
programme^
(^Borrowing programme for fiscal 2021 (refers to financial year, April 1 to March 31). The
overall limit for the long-term borrowing programme and the short-term borrowing programme is
Rs.90,000 crore. The long-term borrowing programme includes tax-free bonds under Section 10 of
the Income Tax Act. Total incremental long-term bank borrowing and short-term borrowings not to
exceed Rs.70000 crore and Rs 20,000 crore, respectively, at any point in time during fiscal
2021.)
Power Finance Corporation Ltd ST Borrowing CRISIL A1+ 120000 Reaffirmed
Programme&
(&Borrowing programme for 2019-20)
Power Finance Corporation Ltd ST Borrowing CRISIL A1+ 170000 Reaffirmed
Programme~
(~Borrowing programme for 2018-19 (refers to financial year, April 1 to March 31).)
Power Finance Corporation Ltd ST Borrowing CRISIL A1+ 200000 Reaffirmed
Programme*
(*Borrowing programme for 2017-18 (refers to financial year, April 1 to March 31).)
Prime Shoes BG CRISIL A4+ 1 Reaffirmed
Prime Shoes LOC CRISIL A4+ 2.5 Reaffirmed
Prime Shoes Packing Credit CRISIL A4+ 40 Reaffirmed
Puran Chand Rice Mills Pvt Ltd LOC CRISIL A4+ 20 Withdrawn
(Issuer Not Cooperating)
Puran Chand Rice Mills Pvt Ltd Packing Credit CRISIL A4+ 260 Withdrawn
(Issuer Not Cooperating)
Putzmeister India Pvt Ltd BG CRISIL A4+ 10 Reaffirmed
Putzmeister India Pvt Ltd LOC CRISIL A4+ 22.5 Reaffirmed
Ruby Builders and Promoters Overdraft CRISIL A4 100 Migrated
(Issuer Not Cooperating)
Santosh Starch Products Ltd Proposed ST Bk CRISIL A4+ 2 Migrated
Loan Fac
(Issuer Not Cooperating)
Savex Technologies Pvt Ltd CP CRISIL A1+ 3000 Reaffirmed
Shivam Motors Pvt Ltd ST Rating CRISIL A4+ – Reaffirmed
Siddhartha Construction Overdraft CRISIL A4+ 40 Migrated
(Issuer Not Cooperating)
Skylark Dyeing Pvt Ltd Overdraft CRISIL A4+ 20 Migrated
(Issuer Not Cooperating)
SpiceJet Ltd LOC^ CRISIL A4 7700 Reaffirmed
(^Bank guarantee is a sub limit)
SpiceJet Ltd Packing Credit in CRISIL A4 3500 Reaffirmed
Foreign Currency
Sri Pathy Associates Pvt Ltd BG CRISIL A4+ 500 Migrated from
CRISIL A4+
and Withdrawn
(Issuer Not Cooperating)
Sri Raghavendra Ferro Alloys Pvt Ltd BG CRISIL A4+ 40 Migrated
(Issuer Not Cooperating)
Sri Raghavendra Ferro Alloys Pvt Ltd LOC CRISIL A4+ 150 Migrated
(Issuer Not Cooperating)
Sri Sai Leela Electrical Projects BG CRISIL A4+ 85 Migrated
(Issuer Not Cooperating)
Srijagdamba Cylinder Gases Pvt Ltd BG CRISIL A4+ 20 Migrated
(Issuer Not Cooperating)
SSR Crest Engineers and Constructions BG CRISIL A4+ 250 Reaffirmed
Ltd
(Issuer Not Cooperating)
SVR Electro Projects Pvt Ltd BG CRISIL A4 71 Migrated from
CRISIL A4 and
Withdrawn
(Issuer Not Cooperating)
Sweet Ceramic Pvt Ltd BG CRISIL A4 12.5 Reaffirmed
(Issuer Not Cooperating)
The Arasan Aluminium Industries Pvt LtdBG CRISIL A4+ 2 Withdrawn
(Issuer Not Cooperating)
The Sirsa Bansivat Labour And BG CRISIL A4+ 70 Migrated
Construction Pvt Ltd
(Issuer Not Cooperating)
Thomas Cook India Ltd BG$$ CRISIL A1+ 60 Reaffirmed
($$ Fully interchangeable with letter of credit (LC))
Thomas Cook India Ltd BG$ CRISIL A1+ 1200 Reaffirmed
($ Letters of credit interchangeable with bank guarantee to the extent of Rs 50 crore)
Thomas Cook India Ltd BG CRISIL A1+ 30 Reaffirmed
Thomas Cook India Ltd BG* CRISIL A1+ 300 –
(* Letters of credit interchangeable with bank guarantee to the extent of Rs 20 crore)
Thomas Cook India Ltd LOC## CRISIL A1+ 2850 Reaffirmed
(## Facility of Rs 100 crore fully interchangeable with BG and post-shipment credit in foreign
currency (PSFC) up to Rs 25 crore, facility of Rs 150 crore fully interchangeable between LC and
BG, facility of Rs 35 crore interchangeable with BG up to Rs 15 crore)
Thomas Cook India Ltd LOC CRISIL A1+ 100 Reaffirmed
Thomas Cook India Ltd Overdraft CRISIL A1+ 650 Reaffirmed
Thomas Cook India Ltd Overdraft@ CRISIL A1+ 490 Reaffirmed
(@Facility of Rs 49 crore interchangeable with LC of up to Rs 25 crore)
Thomas Cook India Ltd CP^ CRISIL A1+ 500 Reaffirmed
(^Earler Short Term Debt (Including CP))
Tunic Fashion Apparel Bill Purchase CRISIL A4+ 60 Migrate
(Issuer Not Cooperating)
Tunic Fashion Apparel Packing Credit CRISIL A4+ 60 Migrate
(Issuer Not Cooperating)
Vikas Sanitary Wares BG CRISIL A4 6 Withdrawn
(Issuer Not Cooperating)
Vishwa Pariwar BG CRISIL A4 10 Migrated
(Issuer Not Cooperating)

LONG TERM RATINGS:
——————-
A One Duty Free Pvt Ltd Export Packing CRISIL B+ 70 Migrated from
Credit CRISIL
B+/Stable
and Withdrawn
(Issuer Not Cooperating)
A One Duty Free Pvt Ltd Proposed LT Bk CRISIL B+ 50 Migrated from
Loan Fac CRISIL
B+/Stable
and Withdrawn
(Issuer Not Cooperating)
Aastha International CC CRISIL 75 Reaffirmed
BB-/Stable
(Issuer Not Cooperating)
Aastha International LT Loan CRISIL 35 Reaffirmed
BB-/Stable
(Issuer Not Cooperating)
Aastha International Proposed LT Bk CRISIL 5 Reaffirmed
Loan Fac BB-/Stable
(Issuer Not Cooperating)
ABP News Network Pvt Ltd Proposed CC Limit CRISIL A+ 350 Reaffirmed
ABP News Network Pvt Ltd Proposed TL CRISIL A+ 500 Reaffirmed
Afex Technologies Pvt Ltd LT Loan CRISIL 90 Assigned
B+/Stable
Afex Technologies Pvt Ltd LOC CRISIL A4 37.5 Assigned
Afex Technologies Pvt Ltd CC/ Overdraft Fac CRISIL 22.5 Assigned
B+/Stable
Agnibina Rice Mills Pvt Ltd TL CRISIL 42 Assigned
B/Stable
Agnibina Rice Mills Pvt Ltd Proposed FB Bk CRISIL 38 Assigned
Limits B/Stable
Agnibina Rice Mills Pvt Ltd CC CRISIL 18 Assigned
B/Stable
Agsar Paints Pvt Ltd CC CRISIL 100 Migrated from
BB-/Stable CRISIL
B+/Stable
and Withdrawn
(Issuer Not Cooperating)
Agsar Paints Pvt Ltd LT Loan CRISIL 19.4 Migrated from
BB-/Stable CRISIL
B+/Stable
and Withdrawn
(Issuer Not Cooperating)
Agsar Paints Pvt Ltd Proposed LT Bk CRISIL 0.6 Migrated from
Loan Fac BB-/Stable CRISIL
B+/Stable
and Withdrawn
(Issuer Not Cooperating)
Air India Ltd NCD CRISIL 74000 Reaffirmed
AAA(CE)/Stable
Air India Ltd NCD CRISIL 55000 Reaffirmed
AAA(CE)/Stable
Air India Ltd NCD CRISIL 7000 Withdrawn
BB+(CE)/Watch
Negative
Alpha Educational Society CC CRISIL 30 Reaffirmed
B/Stable
(Issuer Not Cooperating)
Alpha Educational Society Cash TL CRISIL 40 Reaffirmed
B/Stable
(Issuer Not Cooperating)
Amarpali Cylinders Pvt Ltd TL CRISIL 199.4 Assigned
BB/Stable
Amarpali Cylinders Pvt Ltd CC CRISIL 350 Assigned
BB/Stable
Ambar Auto Engineers Pvt Ltd CC CRISIL 15 Migrated from
BB/Stable CRISIL
BB/Stable
and Withdrawn
(Issuer Not Cooperating)
Ambar Auto Engineers Pvt Ltd Proposed LT Bk CRISIL 25 Migrated from
Loan Fac BB/Stable CRISIL
BB/Stable
and Withdrawn
(Issuer Not Cooperating)
Ambar Auto Engineers Pvt Ltd WC TL CRISIL 30 Migrated from
BB/Stable CRISIL
BB/Stable
and Withdrawn
(Issuer Not Cooperating)
Ambar Forge Pvt Ltd CC CRISIL 20 Migrated from
BB-/Stable CRISIL
BB-/Stable;
(Issuer Not Cooperating)
Ambar Forge Pvt Ltd Proposed CC Limit CRISIL 15 Migrated from
BB-/Stable CRISIL
BB-/Stable;
(Issuer Not Cooperating)
Ambar Forge Pvt Ltd TL CRISIL 35 Migrated from
BB-/Stable CRISIL
BB-/Stable;
(Issuer Not Cooperating)
Amritlal and Brothers CC – 50 Withdrawn
(Issuer Not Cooperating)
Amritlal and Brothers Proposed FB Bk – 30 Withdrawn
Limits
(Issuer Not Cooperating)
Aquarius Engineers Pvt Ltd CC CRISIL 120 Reaffirmed
BB+/Stable
Aquarius Engineers Pvt Ltd TL CRISIL 73.7 Reaffirmed
BB+/Stable
Arun Kumar. K CC CRISIL 90 Reaffirmed
B/Stable
(Issuer Not Cooperating)
Avon Cycles Ltd CC CRISIL 540 Reaffirmed
A+/Positive
Avon Cycles Ltd Export Packing CRISIL 150 Reaffirmed
Credit A+/Positive
Avon Cycles Ltd Proposed LT Bk CRISIL 130 Assigned
Loan Fac A+/Positive
Avon Cycles Ltd Foreign LOC CRISIL 10 Assigned
A+/Positive
Awachat Industries Ltd CC – 30 Withdrawn
(Issuer Not Cooperating)
Awachat Industries Ltd Proposed FB Bk – 40 Withdrawn
Limits
(Issuer Not Cooperating)
Bait Logitech Pvt Ltd CC CRISIL 55 Reaffirmed
B-/Stable
(Issuer Not Cooperating)
Bangalore International Airport Ltd CC CRISIL AA 500 Reaffirmed
Bangalore International Airport Ltd Proposed LT Bk CRISIL AA 335.9 Reaffirmed
Loan Fac
Bangalore International Airport Ltd TL CRISIL AA 120304.1Reaffirmed
Bhandari Automobiles Pvt Ltd Electronic Dealer CRISIL 700 Reaffirmed
Financing BBB/Stable
Scheme(e-DFS)
(Outlook revised from Stable)
Bharat Agro Product CC CRISIL 47 Reaffirmed
B+/Stable
(Issuer Not Cooperating)
Bharat Agro Product Proposed LT Bk CRISIL 33 Reaffirmed
Loan Fac B+/Stable
(Issuer Not Cooperating)
Biyani Shikshan Samiti Overdraft CRISIL D 125.2 –
(ISSUER NOT COOPERATING; Downgraded from CRISIL B+/Stable ISSUER NOT COOPERATING)
Biyani Shikshan Samiti Proposed LT Bk CRISIL D 374.8 –
Loan Fac
(ISSUER NOT COOPERATING; Downgraded from CRISIL B+/Stable ISSUER NOT COOPERATING)
Broadway Megaaplex Pvt Ltd LT Loan CRISIL B/Stabl700 Migrated from
CRISIL
B/Stable
(Issuer Not Cooperating)
Cardio Fitness India Pvt Ltd CC CRISIL D 85 Reaffirmed
(Issuer Not Cooperating)
Cardio Fitness India Pvt Ltd Foreign Exchange CRISIL D 33.2 Reaffirmed
Forward
(Issuer Not Cooperating)
Cardio Fitness India Pvt Ltd LOC CRISIL D 45 Reaffirmed
(Issuer Not Cooperating)
Cardio Fitness India Pvt Ltd Proposed LT Bk CRISIL D 16.8 Reaffirmed
Loan Fac
(Issuer Not Cooperating)
Chandra Bhan Anil Kumar Glass Works CC CRISIL B/Stable32.5 Migrated from
CRISIL
B/Stable
and Withdrawn
(Issuer Not Cooperating)
Chandra Bhan Anil Kumar Glass Works LT Loan CRISIL B/Stabl21 Migrated from
CRISIL
B/Stable
and Withdrawn
(Issuer Not Cooperating)
Channelplay Ltd TL CRISIL 37.5 Assigned
BBB/Stable
Channelplay Ltd CC CRISIL 202.6 Assigned
BBB/Stable
Channelplay Ltd Channel Financing CRISIL 119.9 Assigned
BBB/Stable
Cibela Ceramic Pvt Ltd CC – 32.5 Withdrawn
(Issuer Not Cooperating)
Cibela Ceramic Pvt Ltd LT Loan – 100 Withdrawn
(Issuer Not Cooperating)
Cibela Ceramic Pvt Ltd Proposed LT Bk – 0.5 Withdrawn
Loan Fac
(Issuer Not Cooperating)
Creative Portico Pvt Ltd CC CRISIL 350 Assigned
BBB/Stable
Cruise Appliances Pvt Ltd CC CRISIL BB+ 40 Migrated
(Issuer Not Cooperating)
Cruise Electric Pvt Ltd CC CRISIL 23 Reaffirmed
BB+/Stable
(Issuer Not Cooperating)
D.R. Thangamaaligai CC CRISIL 60 Migrated
B+/Stable
(Issuer Not Cooperating)
D.R. Thangamaaligai Proposed LT Bk CRISIL 10 Migrated
Loan Fac B+/Stable
(Issuer Not Cooperating)
Daftari Agro Pvt Ltd CC – 75 Withdrawn
(Issuer Not Cooperating)
Daftari Agro Pvt Ltd TL – 5 Withdrawn
(Issuer Not Cooperating)
Daftari Agro Pvt Ltd Warehouse Receipts- 45 Withdrawn
(Issuer Not Cooperating)
DCM Nouvelle Ltd LT Loan CRISIL BBB 592.5 Assigned
DCM Nouvelle Ltd CC CRISIL BBB 300 Assigned
Deens Constructions CC CRISIL 120 Downgraded
BB-/Stable from CRISIL
BB/Stable
Deens Constructions TL CRISIL 20 Downgraded
BB-/Stable from CRISIL
BB/Stable
Deepak Diamonds Pvt Ltd Export Packing CRISIL D 189 Migrated
Credit
(Issuer Not Cooperating)
Deepak Diamonds Pvt Ltd Post Shipment CRISIL D 36 Migrated
Credit
(Issuer Not Cooperating)
Deepak Diamonds Pvt Ltd Proposed LT Bk CRISIL D 145 Migrated
Loan Fac
(Issuer Not Cooperating)
Deepak Rugs Foreign Demand – 30 Withdrawn
Bill Purchase
(Issuer Not Cooperating)
Deepak Rugs Packing Credit – 55 Withdrawn
(Issuer Not Cooperating)
Delhi International Airport Ltd Proposed Rupee TL CRISIL AA- 56160
(Placed on Rating Watch with Negative Implications)
Delhi International Airport Ltd WC Fac CRISIL AA- 3840
(Placed on Rating Watch with Negative Implications)
Desert Adventures Tourism L.L.C Standby LOC CRISIL A1+(CE)930 Reaffirmed
Dinshaw S Dairy Foods Pvt Ltd CC CRISIL 100 Reaffirmed
A-/Stable
Dinshaw S Dairy Foods Pvt Ltd CC & WC demand loaCRISIL 300 Reaffirmed
A-/Stable
Dinshaw S Dairy Foods Pvt Ltd Proposed LT Bk CRISIL 6.5 Reaffirmed
Loan Fac A-/Stable
Dinshaw S Dairy Foods Pvt Ltd Rupee TL CRISIL 958.5 Reaffirmed
A-/Stable
Elite Vintage Winery India Pvt Ltd CC CRISIL 49 Migrated
BB/Stable
(Issuer Not Cooperating)
Elite Vintage Winery India Pvt Ltd Proposed CC Limit CRISIL 30 Migrated
BB/Stable
(Issuer Not Cooperating)
Elite Vintage Winery India Pvt Ltd Proposed TL CRISIL 40 Migrated
BB/Stable
(Issuer Not Cooperating)
Elpro International Ltd Ratings – – –
(CRISIL is yet to receive adequate information from Elpro International
Limited (EIL) to enable it to undertake a rating review. CRISIL is taking all pos
Espee Kumaran Textiles CC CRISIL 60 Migrated
BB/Stable
(Issuer Not Cooperating)
Espee Kumaran Textiles TL CRISIL 3 Migrated
BB/Stable
(Issuer Not Cooperating)
Evershine Dynamic Corporation Ltd CC CRISIL 150 Migrated from
BB-/Stable CRISIL
BB-/Stable
and withdrawn
(Issuer Not Cooperating)
Eximcorp India Pvt Ltd CC CRISIL 250 –
BB+/Negative
(Downgraded from CRISIL BBB-/Stable )
Finex Kitchen Pvt Ltd CC – 40 Withdrawn
(Issuer Not Cooperating)
Finex Kitchen Pvt Ltd LOC & BG – 10 Withdrawn
(Issuer Not Cooperating)
Finex Kitchen Pvt Ltd Proposed CC Limit – 100 Withdrawn
(Issuer Not Cooperating)
Forstar Frozen Foods Pvt Ltd Bill Discounting CRISIL 600 Reaffirmed
BBB/Stable
Future Lifestyle Fashions Ltd NCD CRISIL – Reaffirmed
AA-/Negative
( (Outlook revised from Positive and rating reaffirmed) )
Future Lifestyle Fashions Ltd CC* CRISIL 5500 Reaffirmed
AA-/Negative
(*Interchangeable with Working Capital Demand Loan and Commercial Paper)
Future Lifestyle Fashions Ltd LT Loan CRISIL 4750 Reaffirmed
AA-/Negative
Gaddala Financial Services Pvt Ltd Ratings – – –
(CRISIL is, however, awaiting adequate information from Gaddala Financial Services Private
Limited (GFS) which will enable us to carry out the rating rev
Gautami Chemicals and Pesticides Pvt LtCC CRISIL D 65 Downgraded
from CRISIL
B/Stable
(Issuer Not Cooperating)
Geetu Engineering And Constructions PvtLT Loan CRISIL 25 Migrated from
Ltd BB-/Stable CRISIL
BB-/Stable
and Withdrawn
(Issuer Not Cooperating)
GMR Hyderabad Aerotropolis Ltd Proposed TL CRISIL AA 300 Reaffirmed
(Placed on Rating Watch with Negative Implications)
GMR Hyderabad Aerotropolis Ltd TL CRISIL AA 500 Reaffirmed
(Placed on Rating Watch with Negative Implications)
GMR Hyderabad Aviation Sez Ltd TL CRISIL AA 550 Reaffirmed
GMR Hyderabad International Airport LtdProposed WC Fac CRISIL AA 1300 Reaffirmed
(Placed on Rating Watch with Negative Implications)
Grand Motors CC CRISIL 30 Migrated from
B+/Stable CRISIL
B+/Stable
and Withdrawn
(Issuer Not Cooperating)
Grand Motors Inventory Funding CRISIL 42.5 Migrated from
Fac B+/Stable CRISIL
B+/Stable
and Withdrawn
(Issuer Not Cooperating)
H and H Precision Pvt Ltd BG – 200 Withdrawn
H and H Precision Pvt Ltd CC – 50 Withdrawn
Hemant Surgical Industries Ltd CC CRISIL 47.5 Migrated from
BB/Stable CRISIL
BB/Stable
and Withdrawn
(Issuer Not Cooperating)
Himatsingka Seide Ltd Proposed WC Fac CRISIL 850 –
A-/Negative
(Downgraded from CRISIL A/Negative )
Himatsingka Seide Ltd TL CRISIL 15136.7-
A-/Negative
(Downgraded from CRISIL A/Negative )
Hinduja Leyland Finance Ltd LT Bk Fac CRISIL 5000 Reaffirmed
AA-/Stable
Hinduja Leyland Finance Ltd Proposed LT Bk CRISIL 25000 Reaffirmed
Loan Fac AA-/Stable
Hinduja Leyland Finance Ltd Subordinated Debt CRISIL 2300 Assigned
AA-/Stable
Hinduja Leyland Finance Ltd Subordinated Debt CRISIL 2000 Reaffirmed
AA-/Stable
Hinduja Leyland Finance Ltd Subordinated Debt CRISIL 2000 Reaffirmed
AA-/Stable
Hinduja Leyland Finance Ltd NCD (Reduced from CRISIL 5000 Reaffirmed
Rs.500 Crore) AA-/Stable
ICICI Securities Primary Dealership LtdTier II Bonds CRISIL 5250 Reaffirmed
AAA/Stable
Indian Optics Pvt Ltd BG – 2 Withdrawn
(Issuer Not Cooperating)
Indian Optics Pvt Ltd CC – 98 Withdrawn
(Issuer Not Cooperating)
Indo Global Commercials Pvt Ltd BG CRISIL 5 Withdrawn
BB+/Stable
Indo Global Commercials Pvt Ltd CC CRISIL 120 Withdrawn
BB+/Stable
Indo Global Commercials Pvt Ltd Proposed FB Bk CRISIL 25 Withdrawn
Limits BB+/Stable
Indo Global Commercials Pvt Ltd Standby LOC CRISIL 200 Withdrawn
BB+/Stable
Indtech Interior And Contractors Pvt LtBG CRISIL D 60 Migrated from
CRISIL D and
Withdrawn
(Issuer Not Cooperating)
Indtech Interior And Contractors Pvt LtSecured Overdraft CRISIL D 80 Migrated from
Fac CRISIL D and
Withdrawn
(Issuer Not Cooperating)
IndusInd Bank Ltd Tier I Bonds CRISIL 10000 Reaffirmed
(Under Basel III) AA/Stable
IndusInd Bank Ltd Tier I Bonds CRISIL 20000 Reaffirmed
(Under Basel III) AA/Stable
IndusInd Bank Ltd Tier I Bonds CRISIL 10000 Reaffirmed
(Under Basel III) AA/Stable
IndusInd Bank Ltd Infrastructure CRISIL 15000 Reaffirmed
Bonds AA+/Stable
Integrated Weaving India Pvt Ltd Proposed TL CRISIL 98 Reaffirmed
B+/Stable
(Issuer Not Cooperating)
Integrated Weaving India Pvt Ltd TL CRISIL 52 Reaffirmed
B+/Stable
(Issuer Not Cooperating)
J&K Vehicleades Pvt Ltd CC CRISIL 25 Migrated
BB+/Stable
(Issuer Not Cooperating)
J&K Vehicleades Pvt Ltd Electronic Dealer CRISIL 62.5 Migrated
Financing BB+/Stable
Scheme(e-DFS)
(Issuer Not Cooperating)
J&K Vehicleades Pvt Ltd Inventory Funding CRISIL 10 Migrated
Fac BB+/Stable
(Issuer Not Cooperating)
J&K Vehicleades Pvt Ltd Line of Credit CRISIL 18 Migrated
BB+/Stable
(Issuer Not Cooperating)
J&K Vehicleades Pvt Ltd Proposed LT Bk CRISIL 29.5 Migrated
Loan Fac BB+/Stable
(Issuer Not Cooperating)
J. B. Cotton Industries CC – 100 Withdrawn
(Issuer Not Cooperating)
J. B. Cotton Industries Proposed LT Bk – 15 Withdrawn
Loan Fac
(Issuer Not Cooperating)
J. K. Engicon Pvt Ltd CC CRISIL 2.5 Migrated from
BB-/Stable CRISIL
B+/Stable
(Issuer Not Cooperating)
J. K. Engicon Pvt Ltd TL CRISIL 7.5 Migrated from
BB-/Stable CRISIL
B+/Stable
(Issuer Not Cooperating)
J. N. Traders CC CRISIL 65 –
BB-/Stable
J. N. Traders Proposed LT Bk CRISIL 5 –
Loan Fac BB-/Stable
J. N. Traders TL CRISIL 20 Assigned
BB-/Stable
Jagdamba Oil and General Mills CC CRISIL 60 Reaffirmed
BB-/Stable
(Issuer Not Cooperating)
Jaika Motors Pvt Ltd CC CRISIL 350 Reaffirmed
BB/Stable
Jainam Cables India Pvt Ltd CC CRISIL BB- 100 Migrated
(Issuer Not Cooperating)
Joseph Velupuzhakkal CC CRISIL B/Stable 80 Migrated
(Issuer Not Cooperating)
Jumps Auto Industries Ltd CC CRISIL 73.5 Migrated
BB+/Stable
(Issuer Not Cooperating)
Jumps Auto Industries Ltd LT Bk Fac CRISIL 146.5 Migrated
BB+/Stable
(Issuer Not Cooperating)
Jyoti Apparels Foreign Bill – 30 Withdrawn
Discounting
(Issuer Not Cooperating)
Jyoti Apparels Packing Credit in – 180 Withdrawn
Foreign Currency
(Issuer Not Cooperating)
K. Chandrakant and Co. International Export Packing – 383.2 Withdrawn
Pvt Ltd Credit
(Issuer Not Cooperating)
K. Chandrakant and Co. International Post Shipment – 616.8 Withdrawn
Pvt Ltd Credit
(Issuer Not Cooperating)
Kamakshi Jute Industries Ltd FB Fac CRISIL 87.5 Reaffirmed
BBB-/Negative
Kamakshi Jute Industries Ltd LT Loan CRISIL 50 Reaffirmed
BBB-/Negative
Kamarhatty Co Ltd CC CRISIL 95 Reaffirmed
BBB-/Negative
(Outlook revised from Stable and rating reaffirmed )
Kamarhatty Co Ltd LT Loan CRISIL 140 Reaffirmed
BBB-/Negative
(Outlook revised from Stable and rating reaffirmed )
Kamarhatty Co Ltd Proposed FB Bk CRISIL 194 Reaffirmed
Limits BBB-/Negative
(Outlook revised from Stable and rating reaffirmed )
Kanhav Creation Pvt Ltd CC CRISIL 40 Migrated from
BB-/Stable CRISIL
BB-/Stable
and Withdrawn
(Issuer Not Cooperating)
Kanhav Creation Pvt Ltd Proposed LT Bk CRISIL 57.6 Migrated from
Loan Fac BB-/Stable CRISIL
BB-/Stable
and Withdrawn
(Issuer Not Cooperating)
Kanhav Creation Pvt Ltd TL CRISIL 94.7 Migrated from
BB-/Stable CRISIL
BB-/Stable
and Withdrawn
(Issuer Not Cooperating)
Kavyarc Tradex Pvt Ltd CC CRISIL 70 Reaffirmed
B/Stable
(Issuer Not Cooperating)
Kavyarc Tradex Pvt Ltd LT Loan CRISIL 10 Reaffirmed
B/Stable
(Issuer Not Cooperating)
Kishan Cotton Ginning and Pressing CC CRISIL 120 Reaffirmed
Factory BB-/Stable
(Issuer Not Cooperating)
Konuparamban Traders CC CRISIL 75 Reaffirmed
BB-/Stable
(Issuer Not Cooperating)
Konuparamban Traders Proposed LT Bk CRISIL 22.5 Reaffirmed
Loan Fac BB-/Stable
(Issuer Not Cooperating)
Krishna Mineral Industries CC CRISIL 57 Withdrawn
BB-/Stable
(Issuer Not Cooperating)
Krishna Mineral Industries Proposed ST Bk CRISIL 18 Withdrawn
Loan Fac BB-/Stable
(Issuer Not Cooperating)
Kunal Enterprises (Hyderabad) CC CRISIL 82.5 Reaffirmed
BB-/Stable
Kunal Enterprises (Hyderabad) Proposed LT Bk CRISIL 2.5 Reaffirmed
Loan Fac BB-/Stable
Kundu Cold Storage Pvt Ltd WC Fac CRISIL 10 Assigned
B+/Stable
Kundu Cold Storage Pvt Ltd TL CRISIL 2.2 Assigned
B+/Stable
Kundu Cold Storage Pvt Ltd Proposed LT Bk CRISIL 42.3 Assigned
Loan Fac B+/Stable
Kundu Cold Storage Pvt Ltd CC CRISIL 30 Assigned
B+/Stable
Kuno Trust Feb 2019 (Originator: Series A1 PTCs CRISIL A (SO) 464.1 Withdrawn
Suryoday Small Finance Bank
Ltd)-Suryoday Small Finance Bank Ltd
KVR Developers Proposed LT Bk CRISIL 10 Migrated
Loan Fac BB-/Stable
(Issuer Not Cooperating)
KVR Developers TL CRISIL 70 Migrated
BB-/Stable
(Issuer Not Cooperating)
Lotus Powergear Pvt Ltd CC CRISIL 120 Reaffirmed
B/Stable
(Issuer Not Cooperating)
Lotus Powergear Pvt Ltd Proposed LT Bk CRISIL 100 Reaffirmed
Loan Fac B/Stable
(Issuer Not Cooperating)
Maa Tara Rice Mill CC CRISIL 112.5 –
BB-/Stable
Maha Maruti Logistics Pvt Ltd CC CRISIL 25 Reaffirmed
B+/Stable
(Issuer Not Cooperating)
Maha Maruti Logistics Pvt Ltd Proposed FB Bk CRISIL 5 Reaffirmed
Limits B+/Stable
(Issuer Not Cooperating)
Malieakal Electronics Overdraft CRISIL 35 Migrated
B+/Stable
(Issuer Not Cooperating)
Malieakal Electronics Proposed LT Bk CRISIL 10 Migrated
Loan Fac B+/Stable
(Issuer Not Cooperating)
Malieakal Electronics TL CRISIL 16 Migrated
B+/Stable
(Issuer Not Cooperating)
Manjira Machine Builders Pvt Ltd CC CRISIL 75 Migrated
BB/Stable
(Issuer Not Cooperating)
Manjira Machine Builders Pvt Ltd LT Loan CRISIL 94.6 Migrated
BB/Stable
(Issuer Not Cooperating)
Manjira Machine Builders Pvt Ltd Proposed BG CRISIL 25 Migrated
BB/Stable
(Issuer Not Cooperating)
Manjira Machine Builders Pvt Ltd Proposed TL CRISIL 30.4 Migrated
BB/Stable
(Issuer Not Cooperating)
Maruti Constructions CC CRISIL 30 Reaffirmed
BB/Stable
(Issuer Not Cooperating)
Maruti Industries CC – 90 Withdrawn
(Issuer Not Cooperating)
Maruti Industries Proposed LT Bk – 10 Withdrawn
Loan Fac
(Issuer Not Cooperating)
Mathew Associates Hook – Up & Weld CC CRISIL 45 Reaffirmed
Services B+/Stable
Maxivision Eye Hospitals Pvt Ltd CC/ Overdraft Fac CRISIL 65 Reaffirmed
BBB-/Stable
Maxivision Eye Hospitals Pvt Ltd Proposed LT Bk CRISIL 15.4 Reaffirmed
Loan Fac BBB-/Stable
Maxivision Eye Hospitals Pvt Ltd TL CRISIL 59.7 Reaffirmed
BBB-/Stable
Morning Staar Apparels Proposed LT Bk CRISIL 20 Migrated
Loan Fac BB+/Stable
(Issuer Not Cooperating)
Mother Poultry Farm TL CRISIL D 73.5 Downgraded
from CRISIL
B/Stable
Mother Theressa Educational Society Overdraft CRISIL B+ 50 Revised from
CRISIL
BB+/Stable I
(Issuer Not Cooperating)
Mother Theressa Educational Society Proposed LT Bk CRISIL B+ 271.3 Revised from
Loan Fac CRISIL
BB+/Stable I
(Issuer Not Cooperating)
Mother Theressa Educational Society TL CRISIL B+ 180 Revised from
CRISIL
BB+/Stable I
(Issuer Not Cooperating)
Muskan Overseas Pvt Ltd Bill Discounting CRISIL 45 Reaffirmed
B/Stable
(Issuer Not Cooperating)
Muskan Overseas Pvt Ltd CC CRISIL 10 Reaffirmed
B/Stable
(Issuer Not Cooperating)
Muskan Overseas Pvt Ltd Export Packing CRISIL 245 Reaffirmed
Credit B/Stable
(Issuer Not Cooperating)
National Plasto Moulding CC CRISIL 87 Reaffirmed
BBB-/Negative
National Plasto Moulding Proposed FB Bk CRISIL 56.4 Reaffirmed
Limits BBB-/Negative
National Plasto Moulding TL CRISIL 42.3 Reaffirmed
BBB-/Negative
National Plasto Products Pvt Ltd CC CRISIL 140 Reaffirmed
BBB-/Stable
(Outlook revised from Stable)
National Plasto Products Pvt Ltd Proposed LT Bk CRISIL 59.4 Reaffirmed
Loan Fac BBB-/Stable
(Outlook revised from Stable)
National Plasto Products Pvt Ltd TL CRISIL 42.7 Reaffirmed
BBB-/Stable
(Outlook revised from Stable)
Neptune Systems Pvt Ltd CC CRISIL 35 Reaffirmed
BB+/Stable
(Issuer Not Cooperating)
Neuron Pharma Pvt Ltd Proposed LT Bk CRISIL 73 Migrated
Loan Fac BB-/Stable
(Issuer Not Cooperating)
New Stone Quarry CC CRISIL 50 Migrated
B+/Stable
(Issuer Not Cooperating)
New Stone Quarry Proposed LT Bk CRISIL 14.9 Migrated
Loan Fac B+/Stable
(Issuer Not Cooperating)
New Stone Quarry TL CRISIL 16 Migrated
B+/Stable
(Issuer Not Cooperating)
Nirav Silk Mills Pvt Ltd CC CRISIL 100 –
B+/Stable

Thomas Cook India Ltd Overdraft@@ CRISIL 630 Reaffirmed
AA-/Negative
(@@ Facility of Rs 55 crore fully interchangeable between LC and BG)
Thomas Cook India Ltd Proposed LT Bk CRISIL 630 Assigned
Loan Fac AA-/Negative
Travel Corporation India Ltd TL – 160 Withdrawn
UB Ventures Pvt Ltd CC CRISIL 70 Reaffirmed
BB/Stable
UB Ventures Pvt Ltd Proposed WC Fac CRISIL 63.7 Reaffirmed
BB/Stable
Vikas Sanitary Wares CC CRISIL B/Stabl50 Withdrawn
(Issuer Not Cooperating)
Vikas Sanitary Wares TL CRISIL B/Stabl15.5 Withdrawn
(Issuer Not Cooperating)
Vishwa Pariwar CC CRISIL B/Stabl40 Migrated
(Issuer Not Cooperating)
Vishwa Pariwar Proposed LT Bk CRISIL B/Stabl10 Migrated
Loan Fac
(Issuer Not Cooperating)
Vizag Educational Institutions Pvt Ltd Lease Rental CRISIL 150 Reaffirmed
Discounting Loan BB+/Stable
Vizag Educational Institutions Pvt Ltd Proposed LT Bk CRISIL 0.9 Reaffirmed
Loan Fac BB+/Stable
Welset Polypack Pvt Ltd CC CRISIL 80 Reaffirmed
BB/Stable
(Issuer Not Cooperating)
Welset Polypack Pvt Ltd Proposed LT Bk CRISIL 20 Reaffirmed
Loan Fac BB/Stable
(Issuer Not Cooperating)
——————————————————————————————–
$: 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 [email protected])


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