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Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of November 12, 2020.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Anita Periera Overdraft CRISIL A4 20 Reaffirmed
Arya Iron and Steel Company Pvt Ltd BG CRISIL A2 50 Reaffirmed
Arya Iron and Steel Company Pvt Ltd Bill Discounting CRISIL A2 850 Reaffirmed
Beekalene Fabrics Pvt Ltd BG CRISIL A4+ 4.8 Migrated from
CRISIL A4+
(Issuer Not Cooperating)
Beekalene Fabrics Pvt Ltd LOC CRISIL A4+ 4 Migrated from
CRISIL A4+
(Issuer Not Cooperating)
Bhupendra Steels Pvt Ltd Bill Discounting CRISIL A3+ 30 Reaffirmed
Bhupendra Steels Pvt Ltd LOC CRISIL A3+ 70 Reaffirmed
Bhupendra Steels Pvt Ltd Pre Shipment Fac CRISIL A3+ 20 Reaffirmed
BSL Castings Pvt Ltd Post Shipment CRISIL A3+ 70 Reaffirmed
Credit
CMW Pressings LOC CRISIL A1 25 Reaffirmed
Colorshine Coated Pvt Ltd LOC CRISIL A4+ 210 Reaffirmed
Colorshine Coated Pvt Ltd Purchase Bill CRISIL A4+ 40 Reaffirmed
Discounting
Edcons Exports Pvt Ltd LOC CRISIL A4 15 -
(Issuer Not Cooperating)
ETA Engineering Pvt Ltd Proposed ST Bk CRISIL D 974 -
Loan Fac
(Issuer Not Cooperating)
Excel Alugraphics Pvt Ltd BG CRISIL A4 10 Reaffirmed
Ferns Packers Foreign LOC CRISIL A4+ 20 Upgraded from
CRISIL A4
Future Lifestyle Fashions Ltd LOC^ CRISIL 4750 -
A4/Watch
Negative
(Continues on 'Rating Watch with Negative Implications)/^Interchangeable with letter of
undertaking and bank guarantee
Hail Tea Ltd BG CRISIL A4 3.5 -
(Issuer Not Cooperating)
Hari Construction and Associates Pvt BG CRISIL A3+ 670 Reaffirmed
Ltd
Jaya Guru Saw Mill LOC CRISIL A4 70 -
(Issuer Not Cooperating)
Jiwarajka Textile Industries BG CRISIL A2 52.5 Reaffirmed
KNK Projects Pvt Ltd BG CRISIL A4+ 389.1 Reaffirmed
KNK Projects Pvt Ltd Proposed BG CRISIL A4+ 0.9 Assigned
Lekh Raj Narinder Kumar Packing Credit CRISIL A4+ 800 Reaffirmed
Lekh Raj Narinder Kumar Post Shipment CRISIL A4+ 250 Reaffirmed
Credit
Man Industries India Ltd LOC & BG** CRISIL A2+ 11570 Reaffirmed
**Includes sub-limits for buyer's credit
Man Industries India Ltd Proposed ST Bk CRISIL A2+ 6990 Reaffirmed
Loan Fac
Maruti Chemicals Company Inland/Import LOC CRISIL A4 7.5 Reaffirmed
Nanma Properties Ltd BG CRISIL A4+ 20 Reaffirmed
Nanma Properties Ltd Overdraft CRISIL A4+ 300 Reaffirmed
Nash Industries India Pvt Ltd BG CRISIL A1 6 Reaffirmed
Nash Industries India Pvt Ltd LOC CRISIL A1 125 Reaffirmed
Pioneer NF Forgings India Pvt Ltd BG CRISIL A4+ 0.5 Reaffirmed
Quest Retail Pvt Ltd LOC CRISIL A1 80 Reaffirmed
Quest Retail Pvt Ltd Proposed LOC CRISIL A1 30 Reaffirmed
Raj Hair International Pvt Ltd Packing Credit CRISIL A4 360 Reaffirmed
Rama Krishna Buildwell Pvt Ltd BG CRISIL A4 70 Revised from
CRISIL A4+
(Issuer Not Cooperating)
SSZ Commodities Pvt Ltd Import LOC Limit CRISIL A4+ 150 Reaffirmed
Suyash Kraft and Papers Ltd LOC CRISIL A4+ 20 Reaffirmed
Tricolite Electrical Industries Ltd Bill Discounting CRISIL A4+ 100 Reaffirmed
Tricolite Electrical Industries Ltd LOC & BG CRISIL A4+ 350 Reaffirmed
Tricolite Electrical Industries Ltd Proposed NFBL CRISIL A4+ 41.2 Reaffirmed
V. Jayantilal and Co. Bill Discounting CRISIL A4 110 Reaffirmed
V. Jayantilal and Co. Packing Credit CRISIL A4 50 Reaffirmed
V. Jayantilal and Co. Proposed ST Bk CRISIL A4 20 Reaffirmed
Loan Fac
LONG TERM RATINGS:
-------------------
Abhay Ispat (India) Pvt Ltd CC CRISIL 1340 Reaffirmed
BBB-/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Abhay Ispat (India) Pvt Ltd Electronic Dealer CRISIL 500 Reaffirmed
Financing BBB-/Negative
Scheme(e-DFS)
(Outlook revised from 'Stable' and rating reaffirmed)
Abhay Ispat (India) Pvt Ltd Proposed FB Bk CRISIL 825 Reaffirmed
Limits BBB-/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Anita Periera Proposed LT Bk CRISIL 10 Reaffirmed
Loan Fac B+/Stable
Anita Periera TL CRISIL 70 Reaffirmed
B+/Stable
Annapurna Finance Pvt Ltd LT Bk Fac CRISIL 10873.5Reaffirmed
A-/Stable
Annapurna Finance Pvt Ltd Proposed LT Bk CRISIL 126.5 Reaffirmed
Loan Fac A-/Stable
Annapurna Finance Pvt Ltd NCD CRISIL 1450 Assigned
A-/Stable
Annapurna Finance Pvt Ltd NCD CRISIL 500 Reaffirmed
A-/Stable
Annapurna Finance Pvt Ltd NCD CRISIL 500 Reaffirmed
A-/Stable
Annapurna Finance Pvt Ltd NCD CRISIL 1000 Reaffirmed
A-/Stable
Annapurna Finance Pvt Ltd NCD CRISIL 1000 Reaffirmed
A-/Stable
Annapurna Finance Pvt Ltd NCD CRISIL 1000 Reaffirmed
A-/Stable
Annapurna Finance Pvt Ltd NCD CRISIL 730 Reaffirmed
A-/Stable
Annapurna Finance Pvt Ltd NCD CRISIL 700 Reaffirmed
A-/Stable
Annapurna Finance Pvt Ltd NCD CRISIL 400 Reaffirmed
A-/Stable
Annapurna Finance Pvt Ltd NCD CRISIL 300 Reaffirmed
A-/Stable
Annapurna Finance Pvt Ltd NCD CRISIL 1000 Reaffirmed
A-/Stable
Annapurna Finance Pvt Ltd NCD CRISIL 1460 Reaffirmed
A-/Stable
Arya Iron and Steel Company Pvt Ltd CC CRISIL 480 Reaffirmed
BBB+/Stable
Arya Iron and Steel Company Pvt Ltd LT Loan CRISIL 80 Reaffirmed
BBB+/Stable
Beekalene Fabrics Pvt Ltd CC CRISIL 230 Migrated from
BB/Stable CRISIL
BB/Stable
(Issuer Not Cooperating)
Beekalene Fabrics Pvt Ltd LT Loan CRISIL 61.2 Migrated from
BB/Stable CRISIL
BB/Stable
(Issuer Not Cooperating)
Bhupendra Steels Pvt Ltd CC CRISIL 120 Reaffirmed
BBB/Stable
Bhupendra Steels Pvt Ltd LT Loan CRISIL 210 Reaffirmed
BBB/Stable
Bhupendra Steels Pvt Ltd TL CRISIL 40 Reaffirmed
BBB/Stable
BSL Castings Pvt Ltd CC CRISIL 170 Reaffirmed
BBB/Stable
BSL Castings Pvt Ltd Proposed LT Bk CRISIL 10 Reaffirmed
Loan Fac BBB/Stable
BSL Castings Pvt Ltd TL CRISIL 130 Reaffirmed
BBB/Stable
BSR Poultry Farm CC CRISIL 115 Reaffirmed
BB-/Stable
BSR Poultry Farm LT Loan CRISIL 35 Reaffirmed
BB-/Stable
CMW Pressings CC CRISIL 25 Reaffirmed
A/Stable
Colorshine Coated Pvt Ltd CC CRISIL 250 Reaffirmed
BB+/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Colorshine Coated Pvt Ltd Proposed FB Bk CRISIL 250 Reaffirmed
Limits BB+/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Colorshine Coated Pvt Ltd TL CRISIL 210 Reaffirmed
BB+/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Edcons Exports Pvt Ltd Export Packing CRISIL 144 -
Credit B+/Stable
(Issuer Not Cooperating)
Edcons Exports Pvt Ltd LT Loan CRISIL 16 -
B+/Stable
(Issuer Not Cooperating)
Edcons Exports Pvt Ltd Proposed LT Bk CRISIL 5 -
Loan Fac B+/Stable
(Issuer Not Cooperating)
ETA Engineering Pvt Ltd CC CRISIL D 950 -
(Issuer Not Cooperating)
ETA Engineering Pvt Ltd LOC & BG CRISIL D 4412.5 -
(Issuer Not Cooperating)
Excel Alugraphics Pvt Ltd CC CRISIL 40 Reaffirmed
B/Stable
Excel Alugraphics Pvt Ltd Proposed LT Bk CRISIL 10 Reaffirmed
Loan Fac B/Stable
Expo Freight Pvt Ltd CC CRISIL 200 Reaffirmed
BBB-/Stable
Expo Freight Pvt Ltd Foreign Currency CRISIL 100 Reaffirmed
Demand Loan BBB-/Stable
Famous Stationery Pvt Ltd CC CRISIL D 40 -
(Issuer Not Cooperating)
Famous Stationery Pvt Ltd Export Packing CRISIL D 60 -
Credit
(Issuer Not Cooperating)
Famous Stationery Pvt Ltd TL CRISIL D 98 -
(Issuer Not Cooperating)
Ferns Packers CC CRISIL 39.9 Upgraded from
BB-/Stable CRISIL
B+/Stable
Ferns Packers Proposed TL CRISIL 8.5 Upgraded from
BB-/Stable CRISIL
B+/Stable
Ferns Packers TL CRISIL 29.6 Upgraded from
BB-/Stable CRISIL
B+/Stable
Flagmark Builders Pvt Ltd TL CRISIL D 100 -
(Issuer Not Cooperating)
Foremost International Pvt Ltd Foreign Bill CRISIL D 90 -
Discounting
(Issuer Not Cooperating)
Foremost International Pvt Ltd Foreign LOC CRISIL D 26.5 -
(Issuer Not Cooperating)
Foremost International Pvt Ltd LT Loan CRISIL D 11 -
(Issuer Not Cooperating)
Foremost International Pvt Ltd Packing Credit CRISIL D 90 -
(Issuer Not Cooperating)
Future Lifestyle Fashions Ltd CC* CRISIL 5500 Downgraded
C/Watch from CRISIL B
Negative
(Continues on 'Rating Watch with Negative Implications)/*Interchangeable with working capital
demand loan and commercial paper
Future Lifestyle Fashions Ltd LT Loan CRISIL 4750 Downgraded
C/Watch from CRISIL B
Negative
(Continues on 'Rating Watch with Negative Implications)
Future Lifestyle Fashions Ltd NCD CRISIL D 5000 Downgraded
from CRISIL B
(Rating Watch with Negative Implications)
Ganpati Allied Works Pvt Ltd CC CRISIL 57 -
B/Stable
(Issuer Not Cooperating)
Ganpati Allied Works Pvt Ltd TL CRISIL 3 -
B/Stable
(Issuer Not Cooperating)
Hail Tea Ltd CC CRISIL 95 -
B/Stable
(Issuer Not Cooperating)
Hail Tea Ltd Proposed LT Bk CRISIL 6.5 -
Loan Fac B/Stable
(Issuer Not Cooperating)
Hail Tea Ltd TL CRISIL 15 -
B/Stable
(Issuer Not Cooperating)
Happyhomess Consultancy Pvt Ltd Proposed LT Bk CRISIL 90 -
Loan Fac B/Stable
(Issuer Not Cooperating)
Hari Construction and Associates Pvt CC CRISIL 40 Reaffirmed
Ltd BBB/Stable
Hari Construction and Associates Pvt CC - Book Debt CRISIL 40 Reaffirmed
Ltd BBB/Stable
Hari Construction and Associates Pvt TL CRISIL 65 Reaffirmed
Ltd BBB/Stable
Harshna Ice and Cold Storage Pvt Ltd TL CRISIL 100 -
B/Stable
(Issuer Not Cooperating)
J.S.V Motors and Constructions Pvt Ltd CC CRISIL 40 Revised from
B/Stable CRISIL
BB-/Stable
(Issuer Not Cooperating)
J.S.V Motors and Constructions Pvt Ltd Inventory Funding CRISIL 300 Revised from
Fac B/Stable CRISIL
BB-/Stable
(Issuer Not Cooperating)
Jasmine Exim Proposed OverdraftCRISIL 20 -
Fac B+/Stable
(Issuer Not Cooperating)
Jaya Guru Saw Mill CC CRISIL 7.5 -
B/Stable
(Issuer Not Cooperating)
Jaya Guru Saw Mill Proposed LT Bk CRISIL 22.5 -
Loan Fac B/Stable
(Issuer Not Cooperating)
Jenious Clothing Pvt Ltd CC CRISIL 300 -
B-/Stable
(Issuer Not Cooperating)
Jenious Clothing Pvt Ltd Corporate Loan CRISIL 630 -
B-/Stable
(Issuer Not Cooperating)
Jharkhand Mega Food Park Pvt Ltd LT Loan CRISIL D 339.5 -
(Issuer Not Cooperating)
Jiwarajka Textile Industries CC CRISIL 350 Reaffirmed
BBB+/Stable
(Outlook revised from 'Negative' and rating reaffirmed)
Jiwarajka Textile Industries Proposed LT Bk CRISIL 847.5 Reaffirmed
Loan Fac BBB+/Stable
(Outlook revised from 'Negative' and rating reaffirmed)
Latur Renewable Pvt Ltd NCD CRISIL 3000 -
AA(CE)/Stable
(Converted from Provisional Rating to Final Rating)
Latur Renewable Pvt Ltd CC CRISIL 200 Reaffirmed
AA-/Stable
Latur Renewable Pvt Ltd TL CRISIL 2880 Reaffirmed
AA-/Stable
Lekh Raj Narinder Kumar CC CRISIL 20 Reaffirmed
BB/Stable
Lekh Raj Narinder Kumar Proposed FB Bk CRISIL 45 Reaffirmed
Limits BB/Stable
Lekh Raj Narinder Kumar Proposed LT Bk CRISIL 24.9 Reaffirmed
Loan Fac BB/Stable
Lekh Raj Narinder Kumar Warehouse ReceiptsCRISIL 300 Reaffirmed
BB/Stable
Man Industries India Ltd External - 3100 Withdrawn
Commercial
Borrowings
Man Industries India Ltd CC* CRISIL 1250 Reaffirmed
A-/Positive
(Outlook revised from 'Stable' and rating reaffirmed)/*Interchangeable with other fund-based and
non-fund-based facilities
Man Industries India Ltd Proposed LT Bk CRISIL 1000 Reaffirmed
Loan Fac A-/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Man Industries India Ltd TL CRISIL 990 Reaffirmed
A-/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Maruti Chemicals Company CC CRISIL 45 Reaffirmed
B+/Stable
Mazda and Company CC CRISIL 50 Upgraded from
BB-/Stable CRISIL
B+/Stable
Mazda and Company Proposed CC Limit CRISIL 50 Upgraded from
BB-/Stable CRISIL
B+/Stable
Mohan Steel Corporation Electronic Dealer CRISIL 160 Reaffirmed
Financing BBB-/Stable
Scheme(e-DFS)
Mohan Steel Corporation Overdraft CRISIL 25 Reaffirmed
BBB-/Stable
Mohan Steel Corporation Proposed InventoryCRISIL 65 Reaffirmed
Funding BBB-/Stable
Nanma Properties Ltd CC CRISIL 100 Reaffirmed
BB/Stable
Nash Industries India Pvt Ltd CC CRISIL 550 Reaffirmed
A/Stable
Nash Industries India Pvt Ltd Proposed WC Fac CRISIL 9.5 Reaffirmed
A/Stable
Nash Industries India Pvt Ltd TL CRISIL 1270 Reaffirmed
A/Stable
NK Power and Infrastructure Pvt Ltd Ratings - - -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review.)
NSR Buildcon Ltd Overdraft CRISIL 200 -
B-/Stable
(Issuer Not Cooperating)
Pioneer NF Forgings India Pvt Ltd CC CRISIL 50 Reaffirmed
BB-/Stable
Pioneer NF Forgings India Pvt Ltd Proposed CC Limit CRISIL 22.5 Reaffirmed
BB-/Stable
Pioneer NF Forgings India Pvt Ltd TL CRISIL 7 Reaffirmed
BB-/Stable
Quest Retail Pvt Ltd CC CRISIL 240 Reaffirmed
A/Stable
Raj Hair International Pvt Ltd Bill Discounting CRISIL 100 Reaffirmed
B+/Stable
Raj Hair International Pvt Ltd Proposed LT Bk CRISIL 12 Reaffirmed
Loan Fac B+/Stable
Shri Basaveshwar Veerashaiva Proposed LT Bk CRISIL 30 Upgraded from
Vidayavardhak Sangha Loan Fac BBB/Stable CRISIL
BBB-/Stable
SKS Blue Metal LT Loan CRISIL 30 Migrated from
B+/Stable CRISIL
B/Stable
(Issuer Not Cooperating)
SKS Blue Metal Proposed LT Bk CRISIL 20 Migrated from
Loan Fac B+/Stable CRISIL
B/Stable
(Issuer Not Cooperating)
SRV Knit Tech Pvt Ltd WC TL CRISIL 75 Downgraded
B-/Stable from CRISIL
B/Stable
SSZ Commodities Pvt Ltd Import LOC Limit* CRISIL 300 Reaffirmed
BB-/Stable
*Includes sublimit for cash credit of Rs 10 crore
Suman Jaiswal CC CRISIL 60 Reaffirmed
BB-/Stable
Suyash Kraft and Papers Ltd CC CRISIL 64 Reaffirmed
BB+/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Suyash Kraft and Papers Ltd Proposed FB Bk CRISIL 15.5 Reaffirmed
Limits BB+/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Thema Nutriment And Packaging Pvt Ltd CC CRISIL 60 Migrated from
B+/Stable CRISIL
B+/Stable
(Issuer Not Cooperating)
Thema Nutriment And Packaging Pvt Ltd TL CRISIL 88 Migrated from
B+/Stable CRISIL
B+/Stable
(Issuer Not Cooperating)
Tricolite Electrical Industries Ltd CC CRISIL 80 Reaffirmed
BB/Stable
Tricolite Electrical Industries Ltd CC & WC demand CRISIL 25 Reaffirmed
Loan BB/Stable
Tricolite Electrical Industries Ltd TL CRISIL 28.8 Reaffirmed
BB/Stable
Uttranchal Pulp and Paper Mills Pvt LtdCC CRISIL 35 Reaffirmed
BB+/Stable
Uttranchal Pulp and Paper Mills Pvt LtdProposed FB Bk CRISIL 35 Reaffirmed
Limits BB+/Stable
Uttranchal Pulp and Paper Mills Pvt LtdTL CRISIL 20 Reaffirmed
BB+/Stable
Vasugan Medical Specialities Pvt Ltd CC CRISIL 35 Reaffirmed
BBB-/Stable
Vasugan Medical Specialities Pvt Ltd LT Loan CRISIL 250 Reaffirmed
BBB-/Stable
Zeon Lifesciences Ltd CC CRISIL 150 Reaffirmed
BBB/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
Zeon Lifesciences Ltd Proposed WC Fac CRISIL 102.5 Reaffirmed
BBB/Positive
(Outlook revised from 'Stable' and rating reaffirmed)
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected
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)
