Rating Rationales






Date Organization Description
18 March 2025Sri Ramanjaneya Agro Industries Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Mahalaxmi Crafts & Tissues Pvt. Ltd. Issuer did not cooperate; Based on best available information; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR B -; Short Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Parinee Developers Pvt. Ltd. Issuer did not cooperate; Based on best available information; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR D;
Kalpa Char Products Pvt. Ltd. Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Vayam Technologies Ltd. Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Prompt Enterprises Pvt. Ltd. Issuer did not cooperate; Based on best available information; Outstanding Ratings Continues to be in ISSUER NOT COOPERATING* category/Downgraded;
Maruti Enterprise Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Krishna Jewels Issuer did not cooperate; Based on best available information; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR BB -;
Ratan Gramodyog Sansthan Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Gokul Sugar Industries Ltd. Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
K Rajesh and Company Issuer did not cooperate; Based on best available information; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR B -; Short Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Shree Ram Shipping Industries Pvt. Ltd. Issuer did not cooperate; Based on best available information; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR BB; Short Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Shree Ram Green Ship Recycling Industries (Unit II) LLP [erstwhile Shree Ram Steel & Rolling Industries (Unit 2)] Issuer did not cooperate; Based on best available information; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR BB; Short Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Shree Ram Vessel Scrap Pvt. Ltd. Issuer did not cooperate; Based on best available information; Outstanding Ratings Continues to be in ISSUER NOT COOPERATING* category/Downgraded;
JP Alloys Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Citi Care Hospitals Pvt Ltd. Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Majestic Maharaja Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Jyotirmayee Foods Pvt. Ltd Issuer did not cooperate; Based on best available information; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR B;
Advant IT Park Pvt. Ltd Issuer did not cooperate; Based on best available information; Outstanding Ratings Continues to be in ISSUER NOT COOPERATING* category/Downgraded;
Shri Ram Foods Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Hotel Pine Spring Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Laxmiprada Cotton Industries Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Sri Vekkaliamman Educational Charitable Trust Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Lucky Minerals Pvt. Ltd. (erstwhile Lucky Minerals) Issuer did not cooperate; Based on best available information; Downgraded and Withdrawn for Long Term; Reaffirmed and Withdrawn for Short Term;
Marce Cement Works Ltd Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Gravity Concrete Solutions Pvt Ltd Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Deomangal Memorial Trust Issuer did not cooperate; Based on best available information; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR B +; Short Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Lord Wheels Pvt. Ltd. Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Sai Creations Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Mahalakshmi Rice Mills Issuer did not cooperate; Based on best available information; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR C;
S. Ravi Works Contractor Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
SPS Construction & Engineering Works Issuer did not cooperate; Based on best available information; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR B +; Short Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Hotel Shubh Inn Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
17 March 2025V R Educational Trust Issuer did not cooperate; Based on best available information; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR B -;
Anadi Rice Mills Pvt. Ltd. Issuer did not cooperate; Based on best available information; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR D;
Overseas Beverages Pvt. Ltd. (OBPL) Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
P. K. Shefi Issuer did not cooperate; Based on best available information; Rating moved to Not Reviewed Advisory;
RIA Constructions Ltd. Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
R K Infratel Ltd. (RKIL) Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Elcom Innovations Pvt. Ltd. Issuer did not cooperate; Based on best available information; Rating moved to Not Reviewed Advisory;
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