india national ratings - selected coverage september 2013 … · 2013. 10. 3. · amorphos...

India National Ratings - Selected CoverageSeptember 2013

Issuer Long Short Term Outlook

Corporates Rating Term Term DepositsA.S. Steel Traders (VSP) Private Limited – IND BB-(suspended) – – –Aaditiya Aswin Paper Mills Private Limited – IND BB- IND A4+ – StableAbellon AgriSciences Limited – IND B+ – – StableAbellon CleanEnergy Ltd – IND BB IND A4+ – NegativeAbhinandan Interexim Pvt Ltd (Sri Balmukund Group Entity) – IND BBB- IND A3 – StableAbhiram Infra Projects Pvt Ltd – IND BBB-/IND BBB-(exp) IND A3/IND A3(exp) – StableACC Limited – IND AAA IND A1+ – StableACCIL Corporation Limited – IND BBB-(SO) – – –ACCIL Hospitality Limited – IND BBB-(SO) – – –Action International – IND BBB IND A3+ – StableAD Hydro Power Limited – IND BBB IND A2 – StableAdarsh Developers – IND B+(suspended) – – -Adarsh Realty & Hotels Private Limited – IND B(suspended) – – -Adhunik Alloys and Power Limited – IND BBB- IND A3 – StableAdhunik Cement Limited – IND BB-(suspended) IND A4+(suspended) – –Adhunik Corporation Limited – IND BB+ IND A4+ – StableAdhunik Industries Limited – IND BB+ IND A4+ – StableAdhunik Metaliks Limited – IND BBB(suspended) IND A2(suspended) – –Adhunik Power Transmission (formerly Unistar Galvaniser &

Fabricators Pvt Ltd)

– IND B+(suspended) IND A4(suspended) – –

Aditya Vidyut Appliances Limited – IND BB+ IND A4+ – StableAdmark Polycoats Pvt Ltd – IND BB IND A4+ – StableAES Chhattisgarh Energy Private Limited – – IND A2+(SO) – –Agarwala’s Polytrade Private Limited (Sri Balmukund Group

entities)

– IND BBB- IND A3 – Stable

Agio Paper & Industries Limited – IND C(suspended) IND A4(suspended) – –AGR Steel Strips Private Limited – IND BB IND A4+ – StableAir Travel Bureau Limited – IND BBB IND A3+ – StableAir Works India Engineering Pvt Ltd – IND BBB+ IND A2+ – StableAishwarya Farms – IND D – - –Aishwarya Feeds – IND B+ IND A4 – StableAjay Trading Company – IND B+(suspended) IND A4(suspended) – -

Akanksha Sales Promoters (India) Private Limited – IND BB IND A4+ – Stable

Akash Coke Industries Private Limited – IND C(suspended) IND D(suspended) – –Alchemist Hospitals Limited – IND BB- – – StableAlchemist Limited – IND BBB- IND A3 – Negative

Alex Green Energy Pvt. Ltd – IND BBB+/IND BBB+(exp) – – Stable

Alkor Petroo Limited – IND D – – –All Services Global Pvt Limited (formerly A.L.L Services Under 1

Roof (India) Pvt. Ltd.)

– IND BB+ IND A4+ – Stable

Alliance Minerals Private Limited – IND B+ IND A4 – StableAllied Recycling Limited – IND D - - -Amaravathi Sri Venkatesa Paper Mills Limited – IND D(suspended) - – –Amaravathy Spinning Mills – IND D(suspended)/ IND C(suspended) - – –

Amba Highrise Pvt Ltd – IND B – – StableAmber Electrotech Ltd. – IND B+(suspended) IND A4(suspended) – –

Amber Enterprises (India) Private Limited – IND A- IND A2+ – StableAmbica Steels Limited – IND BB+ IND A4+ – PositiveAmir Chand Jagdish Kumar (Exports) Limited – IND BBB- IND A3 – PositiveAmon-ra Impex Private Limited – IND B+ IND A4 – StableAmorphos Chemicals Private Limited – IND B+(suspended) IND A4(suspended) – –Amroon Foods Private Limited (Fair Group Entity) – IND BB- IND A4+ – StableAnanth Technologies Limited – IND BBB- IND A3 – StableAndhra Polymers Pvt Ltd – IND BB- IND A4+ – StableAndhra Pradesh Fibres Limited – IND BB IND A4+ – PositiveAndrew Yule & Co. Ltd IND D IND C IND A4 – –

Anjana Explosives Limited – IND BB- IND A4+ – Stable

Anmol Biscuits Limited – IND A IND A1 – StableAnsal Housing and Construction Limited – IND BB- IND A4+ – StableAntelec Pvt Ltd – IND BBB- IND A3 – StableAR Airways Private Limited – IND BB- – – StableAradhya Steel Private Limited – IND BB- IND A4+ – StableArc Marine Private Ltd – IND D IND D – -Archon Engicon Private Limited – IND BBB- IND A3 – StableArena Lifestyle Pvt Ltd – IND BB A4+ – StableArise India Limited – IND BBB+ IND A2 – StableArjun Agro Foods – IND B IND A4 - StableAruna Alloy Steels Private Limited – IND BB+ IND A4+ – StableAryavrat Trading Private Limited – IND B- – – StableAshika Commercial Private Limited – IND B IND A4 – StableAsian Colour Coated Ispat Limited – IND BBB- IND A3 – StableAsian Tea & Exports Limited (Asian Tea Group Entity) – IND BB+ IND A4+ – Positive

Asian Tea Company Private Limited(Asian Tea Group Entity) – – IND A4+ – –Asritha Paper Mills Private Ltd – IND B- – – StableAster Private Limited – IND BBB IND A2/IND A2(exp) – StableAurobindo Pharma Limited – IND AA- IND A1+ – StableAvani Vanijya Pvt. Ltd. – – IND A4 – –Avaya Industries Ltd – IND B+ IND A4 – StableAveco Technologies Private Limited – IND BB- IND A4+ - StableAxiom Cordages Limited (formerly Axiom Impex International

Limited)

– IND A- IND A1 – Stable

Axis Clinicals Limited – IND BBB+ IND A2 – StableAxles India Limited – IND A- IND A2+ - StableB & A Packaging India Limited (formerly B&A Multiwall Packaging

Limited)

– IND BB-(suspended) IND A4+(suspended) – -

B Sorabji Group – IND B(suspended) – – –

B.G. Shirke Construction Technology Pvt Ltd – IND A- IND A2+ – NegativeB.N.T. Connections Impex Ltd – IND BB- IND A4+ – StableB.N.T. Innovations Private Limited – IND BB- IND A4+ – StableBaby Engineering Private Limited (BEPL) – IND D IND A4 - -Bagh Bahar Appliances Private Limited – IND BB/IND BBB-(SO) IND A3(SO) – StableBajaj Eco Tech Products Limited – IND B IND A4 – StableBalaji Action Buildwell – IND BBB- IND A3 – StableBalaji Amines Limited – IND A- IND A2+ – StableBalaji Greentech Products Limited – IND D – – -Balaji Oil Industries Private Limited – IND B+ IND A4 – StableBalaji Powertronics (Microtek Group Entity) – IND A- IND A1 – StableBalasore Alloys Limited – IND BB- IND A4+ – StableBalKrishna Synthetics Ltd – IND BBB- IND A3 – StableBallarpur Industries Limited – IND AA- IND A1+ – NegativeBallyfabs International Limited – IND BBB- IND A3 – StableBannari Amman Apparel Private Ltd – IND B(suspended) IND A4(suspended) – -Bansal Biscuits Private Limited – IND A IND A1 – StableBatliboi Environmental Engineering Ltd. – IND B+ IND A4 – NegativeBatliboi Limited – IND B- IND A4 – StableBay Forge Ltd – IND B+ IND A4 – Negative

BC Sen & Co Ltd – IND BBB+ IND A2+ – StableBeekay Steel Industries Limited – IND BBB- IND A3 – StableBenaka Sponge Iron Pvt Ltd – IND D - – -Beri Udyog Private Limited – IND BBB IND A3+ – StableBhadresh Trading Corporation Ltd – IND BBB- IND A3 – StableBhansali Engineering Polymers Limited – IND BB IND A4+ – NegativeBharat Construction – IND BB(suspended) IND A4+(suspended) – -Bharat Cotton Corporation – IND B- IND A4 - StableBharat Heavy Electricals Limited – IND AAA IND A1+ – StableBharat Hydel Projects Private Limited – IND BB(suspended) IND A4+(suspended) – -Bhartiya International Limited – IND A− IND A2+ – StableBharuch Enviro Infrastructure Pvt Limited – IND BBB- IND A3 – Stable

Bhaskar Sarachi Alloys Limited – IND B- IND A4 – StableBhatia Wines (Bhatia Group Entity) – IND BBB - – StableBhavya Constructions Pvt. Ltd – IND B+/ IND B+(exp) – – StableBhoruka Park Pvt Limited – IND BBB+ – – StableBhumya Pvt Limited – IND D – – –Bhushan Power and Steel Limited (Formerly as Bhushan Limited) – IND A- IND A2+ – Stable

Bhuwalka Steel Industries Limited – IND B+ IND A4 – StableBilcare Limited – IND D IND D – -BILT Graphic Paper Products Limited – IND AA- IND A1+ – NegativeBinani Cements Limited – IND A(suspended) IND A1(suspended) – –Biopac India Corporation Limited – IND B(suspended) IND A4(suspended) – –BLA Coke Pvt. Ltd – IND A- IND A2+ - StableBlues Clothing Company Limited – IND BB+ IND A4+ – StableBonai Industrial Company Ltd (Rungta Group Entity) – IND AA IND A1+ – StableBorah Brothers Private Limited – IND BB – – StableBostin Engineers Pvt Limited – IND B+ IND A4 – StableBothra Metals & Alloys Ltd – IND BB IND A4+ – StableBrahma Iron & Power Ltd – IND B(suspended) – – –Brahmani River Pellets Limited► – IND BBB- – – -Bramhacorp Hotels & Resorts Limited – IND B+(suspended) – – –BTT Industries Private Limited – IND BB IND A4+ – NegativeBVL Granites – IND BBB- IND A4+ – StableCalcutta Springs Limited – IND B-(suspended) IND A4(suspended) – –Calderys India Refractories Limited (formerly Ace Calderys

Limited)

– IND AA IND A1+ – Stable

Capital Meters Limited – IND B IND A4 – StableCapital Power Infrastructure Private Limited – IND BB IND A4+ – StableCapital Power Systems Limited – IND BB IND A4+ – Stable

Carraro India Pvt Ltd – IND A- IND A1 – StableCaterpillar India Private Limited – IND AAA IND A1+ – StableCauvery Iron & Steel (India) Limited – IND B+/IND B+(exp) IND A4/IND A4(exp) – StableCCL Products (India) Limited – IND A IND A1 – StableCelestial Biolabs Limited – IND D IND D – –Century Aluminium Manufacturing Co. Limited – IND BB IND A4+ – StableCG Ispat Private Limited – IND BB+(suspended) IND A4+(suspended) – –Chandukaka Saraf and Sons Pvt. Ltd – IND BBB IND A2 – StableCharchco Electronics (India) Private Limited – IND B - - StableChemical & Mineral Industries Private Limited – IND BB+ IND A4+ – StableChemplast Sanmar Limited – IND BBB- IND A3 – StableChemrow India Private Limited – IND B+(suspended) IND A4(suspended) – –

Chiripal Industries Limited – IND BBB- IND A3 – StableChiripal Polyfilms Pvt. Ltd – IND BB+ IND A4+ - StableChoksi Imaging Limited – IND BB+ IND A4+ – StableChola Spinning Mills Private Limited – IND BBB- IND A3 – StableChowdary Spinners Limited – IND B+ IND A4 – StableCimmco Limited – IND BBB IND A2 – StableCIPSA TEC India Private Limited (formerly CIPSA-RIC India Pvt

Ltd)

– IND D(suspended) IND D(suspended) – –

Citycom Networks Private Limited – IND BB- – – StableClaridges Hotel Private Limited – IND B+(suspended) – – StableClaris Lifesciences Limited – IND A IND A1 – StableClassic Knits India Private Limited – IND BB- IND A4+ – Stable

Clear Secured Services Pvt. Ltd – IND BB/IND BB(exp) - – Stable

CMB Spinning Mills – IND B+ IND A4 – Stable

CNN Minerals Private Limited (Sri Balmukund Group Entity) – IND BBB- IND A3 – Stable

Colour Roof India Limited – IND BB+(suspended) IND A4+(suspended) – –Coramandel Infrastructure Private Limited – IND BB+ IND A4+ – StableCoromandel International Ltd – IND AA+ – – Stable Cosmas Research Lab Ltd – IND D IND D – -Cosmic Ferro Alloys Ltd – IND BB+(suspended) IND A4+(suspended) – -Cosmo Films Limited – IND A-/IND A-(exp) IND A1 – StableCosmos Industries Limited – IND C IND A4 – –CPC (P) Limited IND D IND C IND A4 – -Crompton Greaves Limited - IND AA IND A1+ – StableCronimet Alloys India Limited – IND BBB-(suspended) IND A3(suspended) – –

Crown Corporation Private Limited – IND BB- – – Stable

Crux Biotech India Private Limited – IND B+ - – Stable

Crystal Cable Industries Limited – IND D/ IND C IND A4 – –Crystal Clothing Company – IND D - – -CtrlS Datacenters Limited – IND BBB – – StableCyberabad Citizen Health Services (P) Ltd ▼ – IND B – – –Dachser India Private Limited (formerly AFL Dachser Pvt Ltd) – IND A- IND A1 – StableDadiji Steels Ltd – IND BB(suspended) – – -Darjeeling Organic Tea Estates Pvt. Ltd. – IND B IND A4 – StableDattatreya Textiles Private Limited – IND BBB- IND A3 – StableDCS Trading and Services Pvt Ltd – IND BB- IND A4+ – StableDCW Limited – IND A- IND A1 – StableDeccan Charters Limited – IND A-(suspended) IND A2+(suspended) – –Deccan Fine Chemicals (India) Pvt Ltd – IND BB IND A4+ – StableDelhi Diamonds Private Limited (MM group Entity) – IND BB- IND A4+ – StableDelhi MSW Solutions Limited – IND A(SO) IND A1(SO) – –Delta Construction Systems Limited – IND BB/IND BB(exp) IND A4+/IND A4+(exp) – StableDeltronix India Limited – IND BBB IND A2 – PositiveDeluxe Cold Storage & Food Processors Limited (Shree Bankey

Bihari Group Entity)


Devi Fisheries Limited – IND BBB IND A2 - StableDhruvdesh Metasteel Private Limited – IND BB IND A4+ - StableDignity Innovations – IND B IND A4 - StableDiwan Chand Medical Services Limited – IND BBB+(SO) IND A2+(SO) – –DQ Entertainment (International) Limited – IND D IND D – -DRD Trucks India Private Limited – IND BB- IND A4+ – StableDuet India Hotels (Jaipur) Private Limited – IND B+(suspended) – – -Dynatron Services Private Limited – IND BB- – – StableEastman Exports Global Clothing Private Limited – IND A- IND A2+ – StableECI Engineering & Construction Company Limited – IND BBB+ IND A2 – StableEcologic Chemicals Limited (formerly Macred India Pvt Ltd) – IND BBB- IND A3 – StableEducomp Solutions Limited – IND D/IND C - – -EICL Limited (formerly English Indian Clays Limited) – IND A IND A1 – StableElder Instruments Pvt. Ltd. – IND B IND A4 – StableEMC Limited (formerly Electrical Manufacturing Company Limited) – IND A- IND A2+ – Stable

Emerald Mineral Exim Limited – IND D (suspended) IND D (suspended) – –Emgee Cables and Communications Ltd. – IND BB+ IND A4+ – StableEmitec Emission Control Technologies India (Pvt) Ltd – IND BBB+ IND A2+ – StableEmkay Automobile Industries Limited – IND BBB- IND A3 – StableEmta Coal Ltd. – IND BBB+ IND A2 – StableENES Textile Mills – IND A- IND A1 - StableEnn Tee International Private Limited – IND B+(suspended) IND A4(suspended) – –

Ennore Coke Limited – IND B(suspended) IND A4(suspended) – -Epoch Electronica Limited – IND B IND A4 – Stable

Essar Bulk Terminal Ltd – IND BB+ IND A4+ – NegativeEssar Oil Limited – IND BBB+ – – StableESVEEGEE Breweries Private Limited – IND D(suspended) – – –Eswar Rubber Products Pvt Ltd – IND BB IND A4+ – StableEvershine Towers Pvt. Ltd. – IND D IND D – –Excellent Moulders – IND BB-(suspended) IND A4+(suspended) – -Exotica International – IND D IND D – –Extramarks Education Private Limited – IND BBB+ IND A2+ – StableFabtech Projects & Engineers Ltd – IND BBB(suspended) IND A2(suspended) – –

Fair Exports India Private Limited (Fair Group Entity) – IND BB- IND A4+ – StableFeedatives Pharma Private Limited – IND B(suspended) – – -Feegrade & Company Pvt. Ltd (Rungta Group Entity) – IND AA IND A1+ – StableFIL Industries Limited – IND BB+ IND A4+ – StableFiltra Catalysts & Chemicals Ltd – IND B+ IND A4 - StableFinancial Inclusion Network and Operations Ltd – IND BBB IND A2 – StableFinolex Industries Limited – IND AA- IND A1+ – Stable

Fleming Laboratories Limited – IND BB+ IND A4+ – Stable

Flex Foods Limited – IND BBB- IND A3 – Stable

Flourish PureFood Pvt Ltd – IND B+ - - StableFouress Engineering India Pvt Ltd – IND BB+ IND A4+ – StableFresenius Kabi India Private Limited – IND BBB-/ IND AA-(SO) IND A3/ IND A1+(SO) – Positive

Frostees Export (India) Private Limited – IND BB+ - – Stable

Fuso Glass India Private Limited – IND B+ IND A4 – StableG.E.T. Power Ltd – IND D IND D – -Gagan Aerospace Limited – IND BBB-(SO) IND A3(SO) - -

Gagan Pulses Private Limited (Shree Bankey Bihari Group Entity) – IND BBB- IND A3 – Stable

Gajanan Agro Mills Pvt Ltd – IND BB- IND A4+ – StableGajanan Industries – IND B+ IND A4 – StableGajanan Solvex Limited – IND B+ – – StableGalaxy Exports Private Limited – IND B(suspended) – – -Gallantt Ispat Limited – IND B IND A4 – Stable

Ganga Plastic Products Private Limited (Sri Balmukund

Group Entity)


Ganga Rasayanie Private Limited – IND BBB+ A2+ – StableGangakhed Sugar and Energy Pvt Ltd – IND BB-(suspended) IND A4+(suspended) – -Gansons Limited (Gansons) – IND BB- IND A4+ – StableGateway Distriparks Limited – IND A+ IND A1+ – PositiveGateway Rail Freight Limited – IND A+(SO) IND A1+(SO) – –Gayatri Suitings Limited – IND D IND D – –Gayatrishakti Paper and Boards Ltd – IND BBB IND A3+ – StableGBM Manufacturing Private Limited – IND B+ IND A4 – StableGenix Automation Private Limited – IND C(suspended) – – –

Genus Apparels – IND B+ IND A4 – StableGenus Power Infrastructures Limited – IND A- IND A1 – StableGeodesic Techniques Pvt Ltd – IND C IND A4 – –Ginni Filaments Limited – IND B+ IND A4 – StableGiriraj Enterprises – IND BBB IND A3 – PositiveGland Pharma Ltd – IND A IND A1 – StableGlobal Castings Private Limited – IND BB- IND A4+ – StableGlobal Entropolis Vizag Pvt Ltd – IND B – – StableGlobal Green Company Limited – IND BBB- IND A3 – StableGlobal Softech Limited – IND D IND D – –GMS Elegant Builders India Private Limited – IND BB- IND A4+ – StableGo Go International Private Limited – IND BB+(suspended) IND A4+(suspended) – –Gobind Sugar Mills Limited – IND D/ IND C IND A4 – –Gold Plus Glass Industry Limited – IND D(suspended) - – –Golden Prince (Bhatia Group Entity) – IND BBB - – StableGoldstar Metal Solutions Pvt. Ltd – IND BB- IND A4+ - stableGolkonda Hospitality Services and Resorts Limited – IND BB-(suspended) IND A4+(suspended) – -Gontermann-Peipers (India) Limited – IND D(suspended)/IND C(suspended) - – –Gopsons Papers Limited – IND D IND D – –Govind Rubber Limited – IND D(suspended) – – –GR Infrastructure Private Ltd – IND BBB – – StableGrace Suppliers Private Limited – IND B IND A4 - StableGrain Milling Company Private Limited – IND BBB-(suspended) IND A3(suspended) – –

Gravita India Limited – IND BBB+ IND A2 – Stable

Greaves Cotton Limited – IND AA IND A1+ – StableGreen Infratech – IND BB- IND A4+ – StableGrotech Landscape Developers Private Limited – IND BB+ IND A4+ – StableGRT Hotels and Resorts Private Limited – IND BBB+ – – StableGS Atwal & Co (Engineers) Pvt Limited – IND B- IND A4 – StableGSPC Gas Company Limited – IND A IND A1 – StableGTL Infrastructure Limited – IND C(suspended) IND A4(suspended) – –Gujarat Borosil Limited – IND B+ IND A4 – StableGujarat State Fertilisers & Chemicals Limited – IND AA+ IND A1+ – StableGulabdas & Co. – - IND A4 – –Gupta Machine Tools Limited (formerly Precision Stampings) – IND BBB+ IND A2+ – PositiveGVP Infra Projects Private Limited – IND BBB+(SO) - - -GVR Infra Projects Limited – IND BBB+ IND A2 – StableHale Electronics India Private Limited – IND B(suspended) IND A4(suspended) – –Hansa Metallics Ltd – IND BB(suspended) IND A4+(suspended) - -Hanumant Vanijya Pvt. Ltd. – IND D(suspended) – – –HAPL Overseas Private Limited – IND BB IND A4+ – StableHardcastle Restaurants Pvt Ltd – IND A- IND A1 – StableHarisons Steel Limited – IND BB-/IND BB-(exp) IND A4+/ IND A4+(exp) – StableHaritha Bio Products India Private Limited – IND D/IND C IND A4 – -Harshit Power & Ispat Pvt Ltd – IND D(suspended)/ IND C(suspended) IND A4(suspended) – –

Haryana Oils & Soya Limited – IND B+ IND A4 - StableHathway Cable & Datacom Private Limited – IND A- IND A2+ – StableHBL Power Systems Limited – IND A- IND A2+ – StableHCL Infosystems Limited▼ – IND A+ IND A1+ – -HEG Limited – IND A+ IND A1+ – StableHELA Systems Private Limited – IND A IND A1 - StableHema Engineering Industries Limited – IND BB(suspended) IND A4+(suspended) – –

Hightemp Furnaces Limited – IND BBB IND A2 – StableHimachal Power Products (Microtek Group Entity) – IND A- IND A1 – StableHind Terminals Private Limited – IND BBB+ IND A2 – StableHindustan Coca-Cola Beverages Private Limited – IND AAA IND A1+ – StableHindustan Dorr-Oliver Limited▼ – IND BB IND A4+ – -Hindustan Ferro Alloys Pvt Ltd – IND BB- IND A4+ – StableHi-Tech Gear Limited – IND A IND A1 – StableHi-Tech Radiators Pvt. Ltd – IND BB/IND BB(exp) IND A4+/ IND A4+(exp) – StableHi-Tech Robotic Systemz Limited – IND BB IND A4+ – StableHPCL - Mittal Energy Limited – IND AA- IND A1+ – StableHPCL - Mittal Pipeline Limited – IND AA- – – StableHPCL Biofuels Ltd – IND A IND A1 – StableHPL Electric & Power Private Limited – IND A- IND A1 – Stable

Hycons Infrastructures India Ltd – IND BB- IND A4+ – Stable

IA Energy – IND B+ - – StableIBM India Pvt. Ltd. – IND AAA IND A1+ – StableIBS Software Services Private Limited – IND BBB IND A2 – PositiveIFB Agro Industries Limited – IND BBB+ IND A2+ – StableIFB Automotive Private Limited – IND A IND A1 – StableIFB Industries Limited – IND A IND A1 – StableIL&FS Clusters Development Initiative Limited – IND A+(SO) IND A1(SO) – –IL&FS Education and Technology Services Limited – IND A+ IND A1 – NegativeIL&FS Skills Development Corporation Limited – IND A+(SO) IND A1(SO) – -IL&FS Transportation Networks Limited – IND A - – StableILD Millennium Private Limited – IND B+ IND A4 – StableIlex Developers and Resorts Limited – IND D – – –

IMECO Limited – IND D IND D – –IMI Mobile Private Limited – IND A- IND A1 - StableImperial Auto Industries Limited – IND A- IND A2+ – PositiveImperial Readymade Garments Factory India Private Limited – IND D/IND C IND A4 – –Inabensa Bharat Private Limited – IND BBB IND A3+ – StableInd Expo – – IND A4 – –India Dyeing Mills Pvt. Ltd – IND A- IND A2+ – StableIndia Glycols Limited – IND A- IND A1 – PositiveIndian Acrylics Limited – IND BB+ IND A4+ – StableIndian Express Newspapers (Mumbai) Limited – IND A- – – StableIndian Farmers Fertiliser Cooperative Limited – IND AA IND A1+ – StableIndic EMS Electronics Private Limited – IND B IND A4 – StableIndo American Electricals Limited – IND B+ – – StableIndo Arya Central Transport Limited – IND BBB+ IND A2 – NegativeIndo Farm Equipment Ltd. – IND BBB IND A3+ – NegativeIndo Power Projects Ltd – IND BB(suspended) IND A4+(suspended) – –Indore Treasure Market City Private Limited – IND B+(suspended) – – –IndoSolar Limited – IND D – – –Indotech Transformers Limited – IND BB+ IND A4+ – NegativeIndraprastha Power Generation Company Limited – IND A- IND A2+ – StableIndus Fila Limited – IND D IND D – –Indus Projects Private Limited – IND BB IND A4+ – StableInfinite Computer Solutions (India) Limited – IND AA- A1+ – StableIntergarden India Private Limited – IND BBB- IND A3 – StableInventia Healthcare Private Limited – IND BBB+ IND A2+ – StableIOT Anwesha Engineering & Construction Ltd – IND A- IND A1 – StableIOT Engineering Projects Limited – IND A- IND A1 – Negative

IOT Infrastructure & Energy Services Ltd – IND AA-/IND AA-(exp) IND A1+ – StableIOT Utkal Energy Services Limited – IND A IND A1 – StableIRB Infrastructure Developers Ltd – IND A-/IND AA-(SO) IND A1 – Stable

ISMT Limited – IND A- IND A2+ – NegativeIVR Hotels and Resorts Limited – IND BBB- – - StableIVRCL Limited (formerly IVRCL Infrastructures & Projects Limited) – IND D – – –

J Kumar Infraprojects Ltd – IND A- IND A1 – PositiveJ.G. Hosiery Pvt Ltd – IND BBB+ IND A2 – StableJ.Thomas & Co. Pvt. Ltd. – IND BBB-(suspended) – – –Jabil Circuits India Private Limited – IND AA+(SO) IND A1+(SO) – PositiveJai Bhavani Furnishing Private Limited – IND BB- - – StableJain Irrigation Systems Ltd – IND BB+ IND A4+ – StableJaisingh Wires Private Limited – IND A IND A1 – Stable

Jaquar & Company Private Limited – IND AA- IND A1+ – StableJayakrishna Flour Mills Pvt. Ltd – IND BBB+ IND A2+ – StableJBF Industries Limited – IND A- IND A1/IND A1(exp) – StableJindal Photo Limited – IND A IND A1 – StableJK Paper Limited – IND BBB+ IND A2+ – NegativeJMD Oils Private Limited – IND BBB- IND A3 – StableJodhani Exports – – IND A4+ – –Joharilal Agarwala Sales Pvt Ltd (Sri Balmukund Group Entity) – IND BBB- IND A3 – StableJonna Steels – IND B+ IND A4 – StableJSV Motors and Construction Private Limited – IND B(suspended) IND A4(suspended) – -Jubilant Agri and Consumer Products Limited – IND BBB- IND A3 – StableJubilant Energy (Kharsang) Private Limited – IND BBB- – – StableJubilant Enpro Private Limited – IND BBB- IND A3 – StableJubilant Industries Limited – IND BBB- IND A3 – StableJubilant Life Sciences Limited (formerly Jubilant Organosys

Limited)

– IND A+ IND A1+ – Stable

Jubilant Motorworks Private Limited (Formerly known as Jubilant

Motors Pvt Ltd)


Jubilant Offshore Drilling Private Limited – IND BBB- – – StableJubilant Oil & Gas Private Limited – IND BBB- – – StableK Bhupal Contractors – IND BB- IND A4+ – StableK.S. Commodities Private Limited – IND B+ IND A4 – PositiveKali BMH Systems Private Limited – IND BB-(suspended) IND A4+(suspended) – -Kalpataru Cold Storage Private Limited (GP Sinha Group Entity) – IND B- IND A4 – Stable

Kalpena Industries Limited – IND A- IND A1 – StableKamakshi Steels Private Limited – IND BB-(suspended) IND A4+(suspended) – –Kamladityya Construction Private Limited – – IND A3 – –Kamlang Saw & Veneer Mills Private Limited – IND BB – – StableKandui Industries Pvt. Ltd. – IND BB- IND A4+ – StableKaran Kothari Jewellers Pvt Ltd – IND B+ IND A4 – StableKCT Trading Pvt. Ltd – IND BBB IND A2 – Stable

Kedia Carbon Pvt. Ltd – IND BB+ IND A4+ – Stable

Kheria Autocomp Limited – IND B- - – StableKiri Industries Limited (formerly Kiri Dyes and Chemicals Limited) – IND D IND D – –

KKE Wash Systems – IND B-/IND B-(exp) IND A4/IND A4(exp) – StableKLT Automotive and Tubular Products Limited – IND BB+(suspended) IND A4+(suspended) – -Komarla Hatcheries – IND BB(suspended) IND A4+(suspended) – –Kora Industries – IND B IND A4 – StableKrishna Knitwear Technologies Limited – IND D IND D – –Kristna Engineering Works – IND BB IND A4+ – Positive

Ksheeraabd Constructions Private Limited – IND BB+ IND A4+ – StableKundan Rice Mills Limited – IND BB IND A4+ – PositiveKurinji Super Specialities Hospital Limited – IND D/IND C - – -Kwality Dairy (India) Limited – IND BBB+ IND A2 – StableLakshmi Energy & Foods Limited – IND BBB IND A3+ – StableLambodhara Textiles Limited – IND BB IND A4+ – StableLeasePlan India Private Limited – IND AAA(SO) - – -Leitwind Shriram Manufacturing Limited (formerly Leitner Shriram

Manufacturing Limited)

– IND D IND D – -

Lekcon Infrastructure Pvt Ltd – IND BB IND A4+ – StableLiberty Oil Mills Limited – IND BBB IND A2 – NegativeLifelong India Limited – IND BBB+ IND A2+ – StableLifelong Meditech Limited – IND BBB+(SO) IND A2+(SO) – -Lilasons Infrastructure Pvt Ltd – IND B- – – NegativeLite Bite Foods Private Limited – IND A-(SO) – – –Lizer Cylinders Limited – IND B (suspended) IND A4(suspended) – -LMJ International Limited – IND BB+(suspended) IND A4+(suspended) – –Lonsen Kiri Chemical Industries Limited – IND BBB-(suspended) IND A3(suspended) – –M C Spinners Private Limited – IND D IND D – -M P K Steels (I) Private Limited – IND B+ IND A4 – StableM. B. Panesar & Sons Pvt. Ltd – IND BB- – - StableM.K. Patel Exim Pvt. Ltd – IND B+(suspended) IND A4(suspended) – -M.K. Wood India Private Limited – IND BB IND A4+ – StableM.M. Jewellers (MM group Entity) – IND B+ IND A4 – StableM.S. Panesar & Sons – IND BB- – - StableM/s Mangilall Rungta (Rungta Group Entity) – IND A IND A1 – StableM/s Omcon (Reign Forest) Projects – IND BB- IND A4+ – Stable

M/S Parin Gems – IND B+ IND A4 – Stable

M/s Rashmi Motors – IND BB- IND A4+ – StableM/s Telu Ram Amar Chand and Company (Shree Bankey Bihari

Group Entity)

– IND BB+ IND A4+ – Stable

M/s. National Construction – IND BB- – - StableMacons Infratech Private Limited – IND B+ IND A4 – StableMadhu Jayanti International Limited – IND BB IND A4+ – StableMadras Fertilizers Limited – IND C/ IND D IND A4 – –Magadh Industries Private Limited – IND C – – –Magadh Iron Private Limited – IND B- – – StableMagneti Marelli Motherson Auto System Limited – IND BBB- IND A3 – StableMahajan Fabrics Private Limited – IND B+ IND A4 – StableMahalakshmi Infraprojects Ltd – IND BBB IND A2 – StableMaharashtra Hybrid Seeds Company Limited – IND A IND A1 – NegativeMaharshi Alloys and Steels – IND B IND A4 - StableMahathi Software Private Limited – IND D/IND C IND A4 – -Mahavir Ore and Sponge Private Limited (Sri Balmukund Group

Entity)

– IND BBB- – – Stable

Mahindra EPC Services Pvt. Ltd – IND A- IND A2+ – StableMahindra Hinoday Industries Limited► – IND BBB IND A2 – –Mahindra Holidays & Resorts India Limited – IND A IND A1 – StableMahindra Sanyo Special Steel Private Limited – IND BBB IND A2 – StableMahindra Ugine Steel Company Limited► – IND A A1 – –Mainetti (India) Pvt Ltd – IND BBB+ IND A2 – Stable

Majestic Exports – IND B IND A4 – StableMalana Power Co Limited – IND AAA(SO)/ IND A- – – StableMalar Solvent Extraction Pvt. Ltd – IND BB- IND A4+ – StableMallcom (India) Ltd – IND BB+ IND A4+ – PositiveMalvi Software Solutions Private Limited – IND BB+ IND A4+ – StableManchukonda Prakasham Industries India Private Limited – IND BBB+ IND A2+ – StableMangal Pulses Private Limited (Shree Bankey Bihari Group Entity) – IND BBB- IND A3 – Stable

Mangla Apparels India Private Limited – IND BB(suspended) – – –

Mani Exports – IND BB- IND A4+ – StableManjeera Hotels and Resorts Limited – IND B-(suspended) IND A4(suspended) – –Manjeera Retail Holdings Private Limited – IND B(suspended) – – –

Mansingh Hotels & Resorts Limited(formerly Indo – Continental

Hotels & Resort Ltd)

– IND BBB- IND A3 – Negative

Marksans Pharma Limited – IND BBB- IND A3 – Stable

Marsons Limited – IND D IND D – –Martin Burn Constructions Limited – IND B IND A4 – StableMartin Burn Information Technology Pvt Ltd – IND B+ IND A4 – StableMaruthi Distributor – IND BB- IND A4+ - StableMaster India Brewing Company – IND D(suspended) – – –Maurya Motors Limited (Himatsingka Group's Entity) – IND BB-(suspended) IND A4+(suspended) – –Mawmluh Cherra Cements Limited – IND BBB+(SO) – – –Mayur Ply Industries Private Limited – IND BB- IND A4+ – StableMedha Servo Drives Pvt. Ltd. – IND A IND A1 – PositiveMegasoft Limited – IND BBB IND A3+ – NegativeMetco Roof Private Limited – IND BBB IND A2 – StableMetecno India Private Limited – IND BB-(suspended) IND A4+(suspended) – –Microtek International Private Limited (Microtek Group Entity) – IND A- IND A1 – StableMidfield Industries Limited – IND C(suspended) IND A4(suspended) – –Mihijam Vanaspati. Ltd. – IND B(suspended) IND A4(suspended) - -MIL Industries Limited – IND BB IND A4+ – StableMinda Corporation Limited – IND BBB IND A2 – StableMinda SAI Limited – IND BBB IND A2 – StableMindTree Limited – IND AA IND A1+ – StableMittal Hospitals Limited – IND BB- IND A4+ – StableMittapalli Agro Enterprises (Mittapalli Group Entity) – IND B IND A4 – StableMittapalli Agro Exports (Mittapalli Group Entity) – IND B IND A4 – StableMittapalli Agro Products Pvt Ltd (Mittapalli Group Entity) – IND B IND A4 – StableMJ Logistics Services Limited – IND BB- – – PositiveMK – – IND A4 – –Modi Mundipharma Private Limited – IND BBB+ IND A2+ – StableModi Revlon Private Limited – IND BB+ – – NegativeMohan Gems & Jewels Private Limited (MM group Entity) – IND B+ IND A4 – StableMorning Staar Apparels – IND BB- IND A4+ – StableMortex Coke Industries – IND BB - – Stable

Motherson Advanced Tooling Solutions Limited – IND BBB- IND A3 – NegativeMotherson Auto Limited – IND BBB- – – PositiveMountain Spinning Mills Limited – IND B+(suspended) IND A4(suspended) – -Mudra Lifestyle Limited – IND C/ IND D IND D – –Mukunda Dairy Products Private Limited – IND BB+(suspended) IND A4+(suspended) – -Multitude Infrastructures Private Limited – IND B+ – – PositiveMumbai Waste Management Ltd. – IND A IND A1 – StableMVL Limited – IND D – – -My Home Construction Private Limited – IND A- – - StableMy Home Industries Limited – IND AA/IND AA(exp) IND A1+/IND A1+(exp) – StableN.S. Engineering Projects Pvt Ltd – IND C(suspended) IND A4(suspended) – –Naga Limited – IND BBB- IND A3 – StableNandan Exim Limited – IND BBB- IND A3 - StableNandan Petrochem Ltd – IND BB+ IND A4+ – StableNandini Impex Private Limited – IND D IND D – –Narmada Bio-Chem Private Limited – IND BBB IND A3+ – Stable

Nasense Labs Private Limited – IND BB/IND BB(exp) IND A4+/ IND A4+(exp) – Stable

National Peroxide Limited – IND A IND A1 – PositiveNav Bharat Buildcon Private Limited – IND B+ IND A4 – StableNava Karnataka Steels Private Limited – IND D – – –Navnitlal Private Limited – IND B+ – – StableNDV Enterprise Pvt. Ltd – IND B+ IND A4 – StableNectar Lifesciences Limited – IND A- IND A1 – StableNeelkamal Steels Private Limited – IND B(suspended) – – StableNeerajaksha Iron and Steel Private Limited – IND B IND A4 – StableNeo Metaliks Limited – IND BB IND A4+ – StableNeosa Electronics Private Limited – IND B - – StableNetwork Clothing Company Pvt. Ltd – IND BB- IND A4+ – StableNew Tech Steel & Alloys Private Limited – IND D – – –NEXT Retail Limited – IND BB+(suspended) – – -NHPC Limited – IND AAA IND A1+ – StableNIIT Limited – IND AA- IND A1+ – StableNila Infrastructures Ltd – IND BBB- IND A3 - StableNinestars Information Technologies Limited – IND BBB- IND A3 – StableNinex Developers Limited – IND D(suspended) – – –Niros Ispat Pvt Ltd – IND BB- IND A4+ – StableNithya Packaging Private Limited – IND BBB-(suspended) IND A3(suspended) – -Noida Power Company Limited – IND A IND A1/IND A1+(SO)(exp) – PositiveNorthend Foods Marketing Private Limited – IND BBB- IND A3 – StableNovel Sugar Limited – IND BB- IND A4+ – StableNR Agarwal Industries Ltd – IND D IND D – –NRP Projects Private Limited – IND BB+(suspended) IND A4+(suspended) – -NSL Renewable Power Private Limited – IND BBB- – – StablenuFuture Digital (India) Limited – IND BBB- – – StableOfficedge India Private Limited – IND BB IND A4+ – StableOgene Systems India Private Limited – IND BB+/IND BB+(exp) IND A4+/IND A4+(exp) – StableOlive Tex Silk Mills Pvt Ltd – IND D IND D – –Om Anand Exports – – IND A4 – –Om Biomedic – IND D – – –OM Prakash Satish Kumar (Om Prakash Group Entity) – IND B- IND A4 – StableOm Steel Traders Chennai Private Limited – IND B(suspended) IND A4(suspended) – –

Omne Agate Systems Private Limited – IND BBB+ IND A3+ – Stable

ONGC Petro Additions Ltd – IND A+ IND A1+ – Stable

OPS International (Om Prakash Group Entity) – IND B- IND A4 – StableOragadam City Developers Private Limited – IND BBB IND A3+ – StableOren Hydrocarbons Private Limited – IND BBB+/IND BBB+(exp) IND A2/IND A2(exp) - StableOrient Fashion Exports (India) Private Limited – IND BBB- IND A3 – StableOrissa Order Suppliers Private Limited – IND B+ - - StableORIX Auto Infrastructure Services Limited – IND AA+ IND A1+ – StableOswal Knits India Limited - IND D IND D - -Owens-Corning (India) Private Limited – IND AA IND A1+ – StableP.N.Writer & Company Pvt Ltd – IND A- – – StableP.S. Krishnamurthy Steels Private Limited – IND D IND D – -Pakiza Retail Ltd – IND BB(suspended) – – -Pan Time Finance Pvt. Ltd. – IND D - – -Pandi Devi Oil Private Limited – IND B+(suspended) IND A4(suspended) – -Pantaloon Retail (India) Limited – IND A- IND A1 – StablePanyam Cement & Mineral Industries Ltd – IND B-(suspended) – – –Patdiam Jewels – – IND A4+ – –Patel Integrated Logistics Limited – IND BBB- IND A3 – StablePawan Hans Helicopters Limited – IND A – – StablePawar Electro Systems Pvt. Ltd – IND BBB- IND A3 – StablePearl Polymers Limited – IND BB+ IND A4+ – StablePEC Limited – IND A- IND A2+ – StablePeerless Hospitex Hospital and Research Center Limited – IND B+ – – StablePerfect Alloy Components Pvt. Ltd. – IND BBB IND A2 - StablePerfect Infraengineers Ltd – IND BB- IND A4+ – StablePermeshwar Creations Pvt. Ltd – IND B+ IND A4 - StablePhorotech Surfin (India) Pvt Ltd – IND BB+ IND A4+ – StablePibco India Pvt. Ltd. – IND B+ IND A4 – StablePiccadily Agro Industries Limited – IND BB+ IND A4+ – StablePiccadily Hotels Private Limited – IND B- – – StablePioneer Genco Limited – IND D – – –

Pioneer Steels – IND B+ IND A4 - StablePitambra Books Private Limited – IND BBB- IND A3 – StablePlastolene Polymers Private Limited – IND D IND D – –Polycab Wires Industries Private Limited – IND BBB- IND A3 – StablePolycab Wires Private Limited – IND A IND A1 – StablePolyhose Rubber India Private Limited – IND BB+(suspended) IND A4+(suspended) – –Pooja Forge Limited – IND BBB+ IND A2+ – StablePoompuhar Shipping Corporation Limited – IND BBB IND A2 – Stable

Prabhatam Advertising Pvt. Ltd. – IND BB+ IND A4+ – Stable

Prafullya Cold Storage (GP Sinha Group Entity) – IND B- IND A4 – StablePragati Power Corporation Limited – IND A- IND A2+ – StablePrakasa Spectro Cast Pvt Ltd – IND BB- IND A4+ - Stable

Prakash Parcel Services Private Limited – IND BB+(suspended) IND A4+(suspended) – -Precision Automation and Robotics India Limited – IND BBB+(suspended) IND A2+(suspended) – –Precision Infomatics (M) Private Limited – IND B+ IND A4 – StablePrimacy Industries Limited – IND BBB IND A3+ – StablePrime Focus Limited – IND A- IND A2+ – NegativePrime Impex Limited – – IND D(suspended) – –Prime Newline AOP – IND BB IND A4+ – StablePrime Technoplast Private Limited – IND BB+ IND A4+ – StablePriya Limited – – IND A4+ – –Profit Shoe Company Private Limited – IND BB IND A4+ - StablePS Group Realty Limited – IND BBB/IND BBB(exp) - – StablePTC India Limited – – IND A1+ – –Punch Ratna Fasteners Private Limited – IND BBB-(suspended) IND A3(suspended) – –

Purple Creations Private Limited – IND B+ - – Stable

PV Infra Project Pvt Ltd – IND BB- IND A4+ – StablePVN Fabrics – IND B+ IND A4 – StablePVN Tex Industries – IND B+ IND A4 – StableQH Talbros Limited – IND BBB IND A2 – PositiveR.K. Infracorp Private Limited – IND BB(suspended) IND A4+(suspended) – –R.S. Vanijya Private Limited – IND D IND D – –R.S.V. Constructions Private Limited – IND BB+ IND A4 – Stable

Radha Smelters Ltd – IND BB+ IND A4+ – Stable

Radha Steel – IND BB- IND A4+ – Stable

Raghu Infra Private Limited – IND BBB-(suspended) IND A3(suspended) – –Ragmet Engineers Pvt Ltd – IND B(suspended) IND A4(suspended) – –Railone Projects Private Limited – IND BB- IND A4+ – StableRain Cements Ltd – IND A- IND A2+ – StableRain CII Carbon (Vizag) Ltd – IND A- IND A2+ – StableRain Commodities Limited – IND A- IND A2+ – StableRaj Infrastructure Development (India) Pvt Ltd. – IND BB+ IND A4+ – StableRaj Infrastructure Pvt Ltd – IND BB+ IND A4+ – StableRaj Infrastructure Technologies (India) Pvt Ltd – IND BB+ IND A4+ – StableRaj Promoters & Civil Engineers Pvt Ltd – IND BB+ IND A4+ – StableRaj Rayon Industries Limited – IND BBB- IND A3 - StableRajasthan Patrika Private Limited – IND A- IND A2+ – Stable

Rajrani Steel Casting Pvt Ltd – IND B IND A4 – Stable

Rajshekhar Constructions Private Limited – IND B+ IND A4 – StableRam Kripal Singh Construction Pvt. Ltd – IND BBB- IND A3 – StableRamya Steel Syndicate – IND B+(suspended) IND A4(suspended) – -Rangoli International Private Limited – IND BB+ IND A4+ – StableRangsons Electronics Private Limited – IND BBB- IND A3 – StableRashi Metals Pvt Limited – IND D – – –Rashtriya Ispat Nigam Limited – IND AA IND A1+ – Stable

Ratan Mica Exports Private Limited – IND B+ IND A4 – StableRathna Packaging India Private Limited – IND BBB- IND A3 – StableRavi Metallics Limited – IND D IND D – -Ravitej Projects Private Ltd – IND BB-(suspended) IND A4+(suspended) – –

Raychem RPG Limited – IND A+ IND A1+ – Stable

RCM Infrastructure Ltd – IND B+ IND A4 – Stable

Real Image Media Technologies Pvt Ltd. – IND BBB IND A2 - StableReckon Pharmachem Private Limited – IND BB- IND A4+ – StableReliance Infrastructure Limited (formerly known as Reliance

Energy Limited)

– IND AA-/IND AA-(exp) IND A1+/IND A1+(exp) – Stable

Relishah Export – IND B+ IND A4 – StableReplika Press Private Limited – IND BBB IND A2 – StableResponsive Industries Limited – IND A- IND A1 – StableRestore Machines India Private Limited – IND D IND D – –Riba Textiles Limited – IND BB- IND A4+ – StableRicha Industries Limited – IND D - – -Rika Global Impex Limited – IND BBB- IND A3 – StableRITES Ltd – – IND A1+ – –Ritzy International Pvt. Ltd. – IND B+ IND A4 – StableRolta India Limited – IND A+ IND A1 – StableRoto India Enterprise – IND D IND D – –Routes Travel Limited – IND BBB IND A3+ – StableRudra Techno Feeds – IND B(suspended) IND A4(suspended) – –Rungta Mines Limited (Rungta Group Entity) – IND AA+ IND A1+ – StableRungta Sons Pvt. Ltd (Rungta Group Entity) – IND AA IND A1+ – StableRupa & Company Limited – IND A IND A1 – StableS R Enterprise – IND D IND D – –S. M. Apparels Private Limited – IND D(suspended) – – –

S.B. Cold Storage Industries Private Limited (GP Sinha Group

Entity)

– IND B- IND A4 – Stable

Safari Industries (India) Limited – IND B+ IND A4 – StableSagar Roofings Private Limited – IND BB+ IND A4+ – StableSagar Steels – IND BB- – – StableSah Petroleums Limited – IND BBB IND A2 – StableSahyogi Distributors Limited – – IND A4(suspended) – –Sai Construction Private Limited – IND B+ – – NegativeSai Sponge (India) Limited – IND BB-/IND BB+(SO) IND A4+ – StableSalcomp Manufacturing India Private Limited – IND BBB+ IND A2+ – StableSalona Cotspin Limited – IND BB- IND A4+ - StableSaluja Steel & Power Private Limited – IND C(suspended) IND D(suspended) – –Samarth Fablon Pvt. Ltd. – IND BB- IND A4+ – Stable

Samprash Foods Private Limited – IND D IND D – –Sandhar Technologies Limited – IND A- IND A1 – StableSanghvi Foods Private Limited – IND BBB-(suspended) – – –Sanskar Agro Processors (Pvt) Ltd – IND B+ IND A4 – StableSara Suole Private Limited – IND BBB-/IND BBB-(exp) IND A3/IND A3(exp) - StableSaraf Chemicals Ltd – IND BB- IND A4+ – StableSargodha Oil Mills Private Limited (Shree Bankey Bihari Group

Entity)


Sarju Impex Limited – IND B- IND A4 – StableSatwik Steel Private Limited – IND B - – StableSatyam Auto Components Limited – IND AA- IND A1+ – StableSaurav Chemicals Limited – IND BB+ IND A4+ – StableSavorit Limited – IND B+ IND A4 – StableSavvy Projects Private Limited – IND BBB- IND A3 - StableSEAM Industrials Pvt. Ltd. (formerly Sunil Hitech Engineers &

Manufacturers Pvt Ltd)

– IND BB+(suspended) IND A4+(suspended) – -

Seaways Shipping and Logistics Limited – IND BB IND A4+ – StableSegno Ceramics Private Limited – IND BB- IND A4+ - StableSemantic Space Technologies Limited – IND A(suspended) IND A1(suspended) – –

SEW Infrastructure Limited – IND A+ IND A1+ – StableSEW Transportation Network Limited – IND A+(SO) - – -Shahi Exports Private Limited – IND A- IND A2+ – StableShakthi Knitting Limited – IND BB IND A4+ – StableShalimar Industries Limited – IND B IND A4 – PositiveShankar Motors Limited (Himatsingka Group's Entity) – IND BB-(suspended) IND A4+(suspended) – –

Shankara Infrastructure Materials Limited – IND BBB+ IND A2 – Stable

Shanti Sales India Private Limited – IND B-(suspended) IND A4(suspended) – -Sharmanji Yarns Private Limited – IND BB+ IND A4+ – StableSharp Engineering Services – IND BB-(suspended) – – -Shetron Limited – IND D IND D – –SH-Haryana Wires Limited – IND BB- IND A4+ – StableShirke Infrastructure – IND BBB- - – StableShirke Recreation Enterprise – IND BB - – StableShivalik Industries (Microtek Group Entity) – IND A- IND A1 – StableShivam Meltech Private Limited – IND B(suspended) IND A4(suspended) – -Shopper’s Stop Limited – – IND A1 – –Shree Bankey Behari Exports Limited (Shree Bankey Behari group

Entity)

– IND BBB-/IND BBB-(exp) IND A3/IND A3(exp) - -

Shree Bankey Behari Food Processors Private Limited (Shree

Bankey Bihari Group Entity)


Shree Krishna Steels – IND BB IND A4+ – StableShree Nathjee Roller Mills Limited (Shree Bankey Bihari Group

Entity)


Shree Sant Kripa Appliances Private Limited – IND BBB- IND A3 – StableShree Sanyeeji Rolling Mills – IND D(suspended) – – –Shree Shakambari Ferro Alloys Private Limited – IND BB- - – StableShree Shyam Pulp and Board Mills Limited – IND BBB+ IND A2 – StableShree Tel-Fab Industries Pvt. Ltd (Sri Balmukund Group Entity) – IND BBB-/IND BBB-(exp) IND A3 – Stable

Shreem Electric Limited – IND BBB+ IND A2 - StableShrenik Marble Private Limited – IND B+ IND A4 – StableShri Gajanan Oil and Agro Products Industries Private Limited – IND B+ – – StableShri Shri Niwasji Oil Refiners Private Limited – IND B(suspended) IND A4(suspended) – –Shriram EPC Ltd – IND BBB+(suspended) IND A2+(suspended) – –Shriram Pistons & Rings Limited – IND AA- IND A1+ – StableShrishti Technologies – IND B(suspended) IND A4(suspended) – –

Shristi Cotspinn Private Limited – IND B+ IND A4 – StableShyam Telecom Limited – IND BBB- IND A3 – Stable

Sical Distriparks Limited – IND BBB- IND A3 – StableSiddharth Mercantile Private Limited – IND B IND A4 – Stable

Siddhayu Ayurvedic Research Foundation Pvt. Ltd – IND BBB- IND A3 – Stable

Siddhivinayak Poultry Breeding Farm and Hatcheries Pvt Ltd – IND B – – StableSilicon Drugs & Intermediates Pvt Ltd – IND BB IND A4+ – StableSilver Spring Spinners (India) Pvt. Ltd – IND D – – –Singan Projects Ltd – IND D(suspended) – – –

Singh Construction Company – IND BB- - - StableSinha Cold Storage & Warehouse Company Private Limited (GP

Sinha Group Entity)

– IND B- IND A4 – Stable

Siva Swathi Constructions Private Limited – IND BB+ IND A4+ – StableSK Wheels Private Ltd – IND BB- IND A4+ – StableSKC Trading & Building Materials Pvt Ltd – IND BB - - StableSMS Infrastructure Limited – IND BB IND A4+ – StableSnowman Logistics Limited – IND A+(SO) IND A1+(SO) - -Sogo Computers Private Limited – IND BB- IND A4+ – StableSogo Synergy Pvt Ltd – IND B- IND A4 – StableSona Okegawa Precision Forging Limited – IND BBB IND A3+ – StableSova Power Limited – IND D IND D – –Sowbhagya Ispat India Private Limited – IND BB- INA A4+ – StableSpectrum Power Generation Ltd – IND B(suspended)/IND BB-(suspended) – – –

Spencer's Travel Services Limited – IND B+ IND A4 – StableSpun Micro-Processing Private Limited – IND B+ IND A4 – StableSR Foils and Tissue Ltd – IND BB+ IND A4+ – StableSRC Metalicks Pvt Ltd. – IND D(suspended) IND D(suspended) – –Sree Karpagambal Mills Limited – IND BB(suspended) IND A4+(suspended) – –SRF Limited – IND AA IND A1+ – Negative

Sri Avantika Contractors (I) Ltd – IND BBB- IND A3 – PositiveSri Balmukund Polyplast Pvt Ltd (Sri Balmukund Group Entity) – IND BBB-/IND BBB-(exp) IND A3 – StableSri Gayatri Minerals Pvt. Ltd – IND BBB-(suspended) IND A3(suspended) – –Sri Gopikrishna Infrastructure Private Limited – IND BB+ IND A4+ – StableSri Kaliswari Metal Powders Private Limited – IND BB+(SO) IND A4+(SO) – StableSri Langta Baba Steels Pvt. Ltd. – IND BB- – – StableSri Power Generation (India) Pvt Ltd – IND BB IND A4+ – StableSri Ramnarayan Mills Limited – IND B+(suspended) IND A4(suspended) – –

Sri Vaaru Metallurgicals Private Limited – IND BB IND A4+ – StableSri Venkateswara Modern Rice Mills – IND B(suspended) – – –Sri Venkateswara Theatre – IND D - - -

Sri Vijayalakshmi Cement Traders – IND B(suspended) IND A4(suspended) – -Sri Vijayalakshmi Steel Traders – IND B(suspended) – – -Srinivasa Construction Corporation Private Limited – IND BB IND A4+ – StableSripathi Paper and Boards Private Limited – IND BBB IND A3+ – Stable

SRS Limited – IND BBB- IND A3 – Stable

SRS Modern Sales Ltd. – IND BB- IND A4+ – `Stargaze Entertainment Private Limited – IND BB- – – Negative

Starshine Nirman Private Limited (Sri Balmukund Group

Entity)


Stationery Point India Limited – IND BB(suspended) IND A4+(suspended) – –Steel Authority of India Limited – IND AAA IND A1+ IND tAAA NegativeSteel Impex & Industries – – IND A4 – –Steel Mont Pvt Ltd – IND B+ IND A4 - StableSteel Strips Wheels Ltd – IND A- IND A2+ – NegativeSterling Tools Limited – IND A- IND A2+ – StableStork Ferro and Mineral Industries Pvt. Ltd – IND D(suspended) – – –Strands Textile Mills Pvt. Ltd. – IND B- – – StableStrides Arcolab Limited▲ – IND BBB+ – – –Stru Fabs – IND C IND A4 – –Suashish Diamonds Limited – IND BBB IND A2 – StableSubh Laxmi Syntex Ltd – IND BB-(suspended) IND A4+(suspended) – -

Sudarshan Chemicals Industries Limited – IND A IND A1 – StableSujit Machino Construction Pvt. Ltd – IND BB – – StableSukhsagar Infotech Pvt. Ltd – IND D IND D – –Sundaram Textiles Limited – IND BBB- IND A3 – StableSungro Seeds Limited – IND BB IND A4+ – StableSunil Hi-Tech Engineers Limited – IND BBB+(suspended) IND A2+(suspended) – -Sunny Trexim Pvt. Ltd. – – IND A4+ – –Suprajit Engineering Limited – IND A+ IND A1 – StableSupreme Infrastructure India Ltd – IND BBB- IND A3 – Negative

Supreme Petrochem Limited – IND A IND A1 – StableSurina Impex Pvt. Ltd. – IND BB IND A4+ – StableSurya Processors Private Limited – IND BB- IND A4+ – PositiveSVS Mookambika Constructions Private Limited – IND BB IND A4+ – StableSwaaa Corporation – IND B IND A4 – StableSyrma Technology Private Limited – IND BB+(suspended) IND A4+(suspended) – –T K International Limited – IND B+ IND A4 – StableTalbros Automotive Components Ltd – IND BBB+ IND A2+ – NegativeTamilnadu Waste Management Limited – IND A(SO) IND A1(SO) – –Tara Aerospace Private Limited – IND A IND A1 – StableTarget Associates Private Limited – IND B-(suspended) IND A4(suspended) – –Tata Advanced Systems Limited – IND A IND A1 – StableTata Chemicals Limited – IND AA IND A1+ – StableTata Marcopolo Motors Ltd – IND A IND A1 – StableTata Power Trading Company Limited – IND A- IND A2+ – StableTata Projects Limited – IND AA- IND A1+ – StableTata Steel Ltd – IND AA IND A1+ – NegativeTayal Energy Ltd – IND D IND D – –Tecumseh Products India Private Limited – IND B IND A4 – StableTera Software Limited – IND BBB IND A3+ – StableThangam Steel Limited – IND D IND D – -

The 3 Guys Network Private Limited – IND B+ IND A4 – Stable

The Chunilal Motiram Ginning Factory – IND B- - – StableThe Himalaya Drug Company – IND A- IND A1 – StableThe Tuticorin Spinning Mills Limited – IND B+(suspended) IND A4(suspended) – -Tijiya Steel Pvt Limited – IND C(suspended) IND A4(suspended) – –Tirumala Balaji Alloys Pvt. Ltd – IND BBB- IND A3 – StableTirupati Agencies Pvt. Ltd. – IND B- IND A4 – StableTirupati Iron Impex Private Limited – IND BB+ IND A4+ – StableTirupati Sugars Limited – IND B – – StableTopman Exports Limited – IND BB- IND A4+ – StableTPRS Enterprises Private Limited – IND BB+ IND A4+ – StableTrading Engineers (International) Limited – IND BBB- IND A3 – StableTransworld Furtichem Private Limited – IND BBB- IND A3 – Stable

Tribeni Constructions Limited – IND BBB- IND A3 – StableTribhovandas Bhimji Zaveri (Delhi) Pvt. Ltd – IND BB+ IND A4+ – StableTristar Retail Ltd – IND BB-(suspended) IND A4+(suspended) – –

Tristar Tradelinks Pvt Ltd (Subsidiary of Tristar Retail Ltd) – IND BB-(suspended) IND A4+(suspended) – –

Triveni Engicons Private Limited – IND BBB- IND A3 – StableTRP Sealing Systems India Pvt Ltd – IND BBB- IND A3 – StableTSS Projects and Industries Pvt Ltd – IND BB-(suspended) IND A4+(suspended) – –

Tulip Telecom Ltd – IND D – – –Tulsi Castings and Machining Limited – IND BBB-(suspended) IND A3(suspended) – -Tunic Fashion Apparels – IND B+ - – StableTushar Fabrics Pvt Ltd – IND B+ IND A4 – StableTVS Logistics Services Limited – IND A+ IND A1+ – StableTVS Srichakra Limited – IND A- IND A1 – StableUEM India Private Limited – IND BBB IND A3+ – StableUFLEX Limited – IND BBB IND A2 – PositiveUltimate Flexipack Limited – IND BBB IND A3+ – StableUltra Drugs Pvt Ltd – IND D – – –Umadutt Industries Limited – IND D – - -Uniphos International Limited – IND BB IND A4+ – StableUnitech Machines Limited – IND A- IND A2+ – NegativeUniversal Power Products (Microtek Group Entity) – IND A- IND A1 – StableUsha Martin Limited – IND A+ IND A1+ – NegativeUttam Galva Steels Limited – IND A/IND A(exp) IND A1 – NegativeUttam Industrial Engineering Limited – IND B+ IND A4 – StableUttam Sucrotech International Private Limited – IND BBB-(suspended) IND A3(suspended) – –Uttam Sugar Mills Limited – IND D(suspended) - – –Uttarakhand Jal Vidyut Nigam Limited – IND BBB+ - – StableVakil Housing Development Corporation Private Limited – IND B-(suspended) IND A4(suspended) – –Vallabhaneni Constructions Pvt Ltd – IND BB+ IND A4+ – Stable

ValueFirst Digital Media Private Limited – IND BBB IND A2 – Stable

Vardhman Precision Profiles & Tubes Pvt. Ltd. – IND BB IND A4+ – NegativeVariety Prints Pvt Ltd – IND D – – –Varron Industries Ltd – IND BB+ IND A4+ – StableVasudha Pharma Chem Limited – IND A- IND A1 – Positive

Vedanta Aluminium Ltd▲ – IND A-/IND AA(SO) IND A2+/IND A1+(SO) – –Vega Entertainment Private Limited – IND BB - – StableVicky Realtors – IND BB+ – – StableVijai Bhavani Power Tech Pvt Ltd – IND BB- IND A4+ – Negative

Vijay Deep Silk Mills Pvt Ltd – IND BB- IND A4+ – StableVijay Textiles Limited – IND B+ IND A4 - StableVikas Telecom Limited – IND D(suspended) – – –Vikhroli Corporate Park Private Limited – IND BBB+ – – StableVikrant Forge Limited – IND BB- IND A4+ – StableVinayak Hatcheries – IND B- IND A4 – StableVinir Engineering – IND BBB- IND A3 – StableVinirrmaa Projects Pvt Ltd – IND B IND A4 – StableVisakha Trades – IND B+ IND A4 – NegativeVisen Industries Limited – IND BBB+ IND A2+ – Stable

Vishal Precision Steel Tubes & Strips Private Limited – IND BBB+(SO) – – –

Vishnu Chemicals Limited – IND D – – –VPR Mining Infrastructure Private Limited – IND BBB- IND A3 – StableVraj Packaging Private Limited – IND BB+ IND A4+ – StableVrinda Engineers Pvt Limited – IND BB- IND A4+ – StableVSP Udyog Private Limited – IND BB+ IND A4+ – StableWABCO India Limited (formerly WABCO-TVS (India) Limited – IND AA+ IND A1+ – StableWearit Global Ltd. – IND B- IND A4 – StableWebb India Private Limited – IND BBB- IND A3 – StableWelcome Distilleries Pvt Limited – IND BB – – StableWelspun Global Brands Limited – IND A- IND A2+ – StableWest Bengal State Electricity Transmission Company Limited – IND A/IND A(exp) IND A1 – StableWin Medicare Private Limited – IND BBB IND A2 – StableWindlas Biotech Limited – IND BBB+ IND A2+ – StableWindlas Healthcare Private Limited – IND BBB IND A2 – StableWinner Nippon Electronics Ltd. – IND B+(suspended) IND A4(suspended) – -Winsome International Limited – IND BB+ IND A4+ – StableWorldwide Tradelinks – IND B IND A4 – StableXPRO India Limited – IND BBB IND A2 – StableYadu Sugar Limited – IND B IND A4 - StableYashasvi Yarns Limited – IND BB- IND A4+ – StableYashoda Super Specialty Hospital – IND BBB+ – – StableYegna Manojavam Drugs & Chemicals (P) Ltd (formerly YM Drugs

& Chemicals (P) Ltd)

– IND D(suspended) – – –

YKM Entertainment & Hotels Pvt Ltd – IND B – – StableZee Knits & Weavers Private Limited – IND BB- IND A4+ – Stable

ZF Electronics TVS (India) Private Limited – IND BBB IND A3+ – PositiveZion Steel Limited – IND B(suspended) – – –



Infrastructure and Project Finance Rating Term Term DepositsBelgaum Wind Farms Private Limited – IND BBB- - – StableBijapur Hungund Tollway Private Limited – IND BBB- – – StableChenani Nashri Tunnelway Limited – IND BBB+/IND BBB – – StableChennai Water Desalination Ltd – IND BBB- – – Negative

CLP Wind Farms (India) Private Limited – IND A+ – – Stable

Coastal Oil and Gas Infrastructure Private Ltd – IND C – – -Corporate Power Ltd (senior project bank loans) – IND C – – –Corporate Power Ltd (senior project bank loans) – IND C – – –Corporate Power Ltd (subordinate project bank loans) – IND C – – –

Delhi International Airport Private Limited – IND A- – – Stable

Ennore Tank Terminal – IND BBB+ – – StableGMR Hyderabad International Airport Limited - IND A- - - StableGVNS Tollway Private Limited (INR360m Senior Project Bank

Loan)

- IND BBB- - - Stable

GVRMP Dharwad Ramanagar Tollways Private Ltd – IND BBB+ – – StableGVRMP Waghdhari Ribbanpally Tollway Private Limited – IND BB+ – – NegativeHKR Roadways Limited – IND BB+ – – NegativeIDAA Infrastructure Private Limited – IND A- – – StableIdeal Energy Projects Limited – IND C – – –iEnergy Wind Farms (Theni) Pvt. Ltd – IND BB – – StableIndore Dewas Tollways Limited – IND BB+ – – Negative

IRB Ahmedabad Vadodara Super Express Tollway Private Limited – IND BBB- - – Stable

IRB Jaipur Deoli Tollway Private Limited – IND BBB- – – StableIRB Kolhapur Integrated Road Development Company Private Ltd – IND A-(SO) – – Stable

IRB Pathankot Amritsar Toll Road Private Limited – IND BBB- – – StableIRB Surat-Dahisar Tollway Private Limited – IND BBB – – StableIRB Talegaon Amravati Tollway Private Limited – IND BBB- – – StableIrcon Soma Tollways Private Limited▲ - IND BBB- – – –IVRCL Indore Gujarat Tollways Limited – IND D – – –

Jalandhar Amritsar Tollways Limited – IND D – – –

Jhajjar Power Ltd – IND BBB – – StableJindal India Thermal Power Ltd (Long Term Project Bank loans –

Phase I, II)

– IND BB+ – – Stable

Jindal India Thermal Power Ltd (Subordinated Debt Phase I, II) – IND BB – – Stable

Jorbat Shillong Expressway Limited – IND BBB+/IND BBB – – StableKaraikal Port Private Limited – IND C IND A4 – –Kasargod Power Corporation Limited – IND B+ – – Stable

KNR Walayar Tollways Private Ltd – IND BBB – – Stable

Kumarapalayam Tollways Ltd – IND D – – –

L&T Metro Rail (Hyderabad) Ltd – IND BBB+ – – StableL&T Samakhiali Gandhidham Tollway Private Limited – IND BBB – – NegativeLVS Power Ltd – IND BBB – – StableMaithon Power Limited – IND A – – StableMaithon Power Limited – IND A-(exp) – – StableMaroli NH Road Private Limited – IND BBB- – – StableMeenakshi Energy Private Limited – IND D – – –Mhaiskar Infrastructure Private Limited – IND AA- – – Stable

Monnet Power Company Ltd – IND BBB- – – StableMumbai International Airport Private Limited (INR 2.6 bn Non-

Fund Based Working Capital)

– IND BBB+ – – Stable

Mumbai International Airport Private Limited (INR 420 mn Fund

Based Working Capital)


Mumbai International Airport Private Limited (INR 6.2 bn Non-

Fund Based Working Capital)


Mumbai International Airport Private Limited (INR21.44bn New

Loan)


Mumbai International Airport Private Limited (INR42.31bn Existing

Loan)

– IND BBB+ – – Postivie

Mumbai International Airport Private Ltd (26.48bn long term bank

loan)

– IND A-(SO) - – Stable

N.A.M. Expressway Limited – IND BBB- – – StableNCC Power Projects Ltd – IND BBB- – – StableOriental Pathways (Nagpur) Private Limited – IND BB+ – – StablePatna Bakhtiyarpur Tollway Limited – IND BB+ – – StableRaichur Power Corporation Limited – IND BBB- – – StableRayalaseema Expressway Private Limited – IND BB – – StableRedan Infrastructure Private Limited – IND B+ – – StableRohtak Panipat Tollway Private Limited – IND BBB- – – StableSai Maithili Power Company Private Limited – IND BBB- – – StableSalem Tollways Limited – IND D – – –

Sanjose Supreme Tollways Development Private Ltd – IND BB+ – – StableSathyam Power Private Limited – IND D – – –SEW Bellary Highways Limited – IND BBB+ – – StableSEW Navayuga Barwani Tollways Private Ltd (Senior Bank

Loans)

– IND BBB- – – Positive

SEW Navayuga Barwani Tollways Private Ltd (Subordinated Bank

Loans)

– IND BB+ – – Positive

SEW Vizag Coal Terminal Private Limited – IND BBB – – Stable

Sikar-Bikaner Highway Ltd – IND BBB – – Stable

Simhadri Power Limited – IND B- - - PositiveSupreme Ahmednagar Karmala Tembhurni Tollways Private

Limited

– IND BBB- – – Stable

Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Pvt. Ltd – IND BB+ – – Stable

Supreme Infraproject Private Limited – IND BB+ – – StableSupreme Kopargaon Ahmednagar Tollways Pvt. Ltd – IND BB+ - – StableSupreme Panvel Indapur Tollways Private Limited – IND BBB- – – StableSupreme Suyog Funicular Ropeways Private Ltd – IND BB+ - - StableSuryachakra Power Corporation Limited – IND D – – –SV Power Ltd. – IND D – – –Transstroy Krishnagiri-Tindivanam Highways Pvt Ltd – IND BBB- – – Positive

Transstroy Tirupati Tiruthani Chennai Tollways Private Limited – IND BB+ – – PositiveTranstech Green Power Pvt Ltd – IND D – – –Trichy Tollway Private Limited – IND BBB- – – StableUnity IVRCL JV – IND BBB- – – Stable



Financial Institutions Rating Term Term DepositsDaimler Financial Services India Private Limited – IND AAA IND A1+ – StableExport Import Bank of India (EXIM) – IND AAA – – StableNational Housing Bank – IND AAA IND A1+ – StableNational Trust Housing Finance Limited – IND BBB- – – PositiveOAIS Auto Finance Services Ltd – IND AA+ IND A1+ – StableShriram City Union Finance Limited – IND AA- IND A1+ tAA- PositiveShriram Transport Finance Co. Ltd. – IND AA IND A1+ tAA- StableSundaram Finance Limited – IND AA+ IND A1+ – StableSwadhaar FinServe Pvt. Ltd – IND BB- – – Positive



Public Finance Rating Term Term DepositsAndhra Pradesh State Finance Corporation – IND BBB+ – – StableBengaluru Urban, Bengaluru Rural & Ramanagara District Co-

operative Milk Producer’s Societie’s Union Limited

– IND BBB/IND BBB(exp) – – –

Chamundeshwari Electricity Supply Corporation Limited – IND A – – –Devanga Sangha – IND BB- – – –GRIDCO Limited (Additional Bank Loan) – IND BBB+ IND A2 – –Hyderabad Educational Institutions Private Limited – IND D - -Institute of Management Studies – IND A- - -Jayam Educational Health and Charitable Trust – IND BB+ – – -

Kalinga Institute of Industrial Technology – IND BBB- – – StableKarnataka Cooperative Milk Producers Federation - IND A/IND A(exp) - - -Kunj Behari Lal Charitable Trust – IND BB IND A4+ – –Manav Vikas Evam Seva Sansthan – IND D – – –Narayana Educational Society – IND A- – – –National Seeds Corporation Limited – IND AA – – –Punjab State Cooperative Milk Producers Federation Limited – IND BBB IND A2 – StableRaipur Development Authority - IND BBB+ - - StableRathinam Arumugam Research and Educational Foundation - IND BB-/IND BB-(exp) - - -Rathnavel Subramaniam Educational Trust – IND BBB- – – StableRavindra Bharathi Educational Society - IND BBB- - - -Soosaiya Peter Educational Trust - IND BB- – – –Sreenidhi University – IND D(suspended) – – –

Srinivasan Health & Educational Trust – IND B+ - – -St.Mary’s Educational Society - IND B- - - -Subedar Raj Devi Educational Trust – IND D(suspended) – – –

The Vijayawada Electricity Employees Co-operative Credit Society

Limited

IND BB+ - - -

*Bold type denotes a new rating and changes made in the ratings

Legend

(SO) – Structured Obligation t - Term Deposit Credit Rating

# - – Under notice of withdrawal ▼ Signifies Rating Watch Negaitive

* - In discussion with company ▲ Signifies Rating Watch Positive

^ - No amount outstanding against existing rating ► Signifies Rating Watch Evolving

Contact List

India Ratings - Analysts Telephone #

Aashish Bhusnurmath Delhi [email protected] 91 22 4356 7252

Abhinav Goel Delhi [email protected] 91 11 4356 7230

Amey Joshi Mumbai [email protected] 91 22 4000 1794

Amit More Mumbai [email protected] 91 22 4000 1703

Ananda Bhoumik Mumbai [email protected] 91 22 4000 1720

Arvind Rana Mumbai [email protected] 91 22 4000 1719

Ashish Upadhyay Delhi [email protected] 91 11 4165 7230

Ashoo Mishra Mumbai [email protected] 91 22 4000 1700

Ashwini Picardo Mumbai [email protected] 91 22 4000 1787

Avinash Lodha Chennai [email protected] 91 44 4340 1722

Carrol D'Silva Mumbai [email protected] 91 22 4000 1731

Chandan Sharma Delhi [email protected] 91 11 4356 7230

Cyrus Dadabhoy Mumbai [email protected] 91 22 4000 1700

Chintan Lakhani Mumbai [email protected] 91 22 4000 1790

Deep Mukherjee Mumbai [email protected] 91 22 4000 1721

Devendra Pant Delhi [email protected] 91 11 4356 7230

Ehsan Syed Mumbai [email protected] 91 22 4000 1700

G. Siva Subramanian Chennai [email protected] 91 44 4340 1700

Janhavi Prabhu Mumbai [email protected] 91 22 4000 1754

Jatin Nanaware Mumbai [email protected] 91 22 4000 1761

Mukul Pathak Delhi [email protected] 91 11 4356 7241

Neha Agarwal Delhi [email protected] 91 11 4356 7247

Niraj Rathi Chennai [email protected] 91 44 4340 1700

Pavan Kumar Chennai [email protected] 91 44 4340 1724

Pavan Soni Kolkata [email protected] 91 33 4006 5887

Pawan Kumar Chennai [email protected] 91 44 4340 1724

Prakash Agarwal Mumbai [email protected] 91 22 4000 1700

Prakash Choraria Kolkata [email protected] 91 33 40065887

Purav Shah Mumbai [email protected] 91 22 4000 1700

R. Venkataraman Chennai [email protected] 91 44 24313339

Rakesh Valecha Mumbai [email protected] 91 22 4000 1740

Rohit Sadaka Kolkata [email protected] 91 33 2282 8375

Rupesh Kumar Singh Mumbai [email protected] 91 22 4000 1791

S.Nandakumar Chennai [email protected] 91 44 2431 3338

Salil Garg Delhi [email protected] 91 11 41657230

Sandeep Singh Mumbai [email protected] 91 22 4000 1735

Sankalp Baid Mumbai [email protected] 91 22 4000 1700

Sethuraman Ramachandran Chennai [email protected] 91 44 4340 1700

Shyam Sundar Chennai [email protected] 91 44 4340 1710

Sreenivasa Prasanna Chennai [email protected] 91 44 4340 1709

Sriram Parthasarthy Mumbai [email protected] 91 44 4340 1700

Sudarshan Shreenivas Mumbai [email protected] 91 22 4000 1783

Tanu Sharma Delhi [email protected] 91 11 4165 7230

Tarun Kumar Mumbai [email protected] 91 11 4000 1713

Vishal Bhawsinghka Kolkata [email protected] 91 33 4006 5884

India Ratings & Research Private Limited

Country Head Atul Joshi Mumbai [email protected] 91 22 4000 1750

Business & Relationship Management Group, Asia-Pacific

Group Head Tarun Bansal Delhi [email protected] 91 11 4165 7230

Director & Head of East India Krishnendu Sarkar Kolkata [email protected] 91 33 2282 8375

Director & Head of West India Rajshekhar Kalluri Mumbai [email protected] 91 22 4000 1784

Director & Head of Andhra Pradesh & Karnataka Suryanarayana Mangina Hyderabad [email protected] 91 40 4025 8885

Associate Director Anamika Karati Delhi [email protected] 91 11 4165 7230

Associate Director Aishwarya Vinay Kumar Mumbai [email protected] 91 22 4000 1788

Associate Director Srinivas MR Chennai [email protected] 91 44 4340 1716

Associate Director Prasanth Chegu Bangalore [email protected] 91 80 42066191

Senior Associate Arnab Chanda Kolkata [email protected] 91 33 4003 1734

Senior Associate Murali TR Chennai [email protected] 91 44 4340 1717

Senior Associate Saurabh Dad Mumbai [email protected] 91 22 4000 1777

Senior Associate Pinku Prittom Dutta Mumbai [email protected] 91 22 4000 1739

Associate Namrata Tiwari Delhi [email protected] 91 11 4356 7235

india national ratings - selected coverage september 2013 … · 2013. 10. 3. · amorphos...

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