Post on 01-Jul-2018
transcript
Outstanding Ratings as on March 31, 2013
Name of the Issuer Issuer Rating Long Term Short Term Term Deposits OutlookA.S. Steel Traders (VSP) Private Limited – IND BB-(suspended) – – –
Aaditiya Aswin Paper Mills Private Limited – IND BB- IND A4+ – Stable
Abellon CleanEnergy Ltd–
IND BB– –
Stable
ABG Shipyard Ltd▼ – IND BBB – – –
Abhinandan Interexim Pvt Ltd (Sri Balmukund Group Entity) – IND BB+ IND A4+ – Stable
ACC Limited – IND AAA IND A1+ – Stable
ACCIL Corporation Limited – IND BBB-(SO) – – –
ACCIL Hospitality Limited – IND BBB-(SO) – – –
AD Hydro Power Limited – IND BBB – – Stable
Adarsh Developers – IND B+ – – Negative
Adarsh Realty & Hotels Private Limited – IND B – – Negative
Adhunik Alloys and Power Limited – IND BB+(suspended) IND A4+(suspended) – –
Adhunik Cement Limited – IND BB-(suspended) IND A4+(suspended) – –
Adhunik Corporation Limited – IND BB IND A4+ – Stable
Adhunik Industries Limited – IND BB+ IND A4+ – Stable
Adhunik 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+ – Stable
Admark Polycoats Pvt Ltd – IND BB IND A4+ – Stable
AES Chhattisgarh Energy Private Limited – – IND A2+(SO) – –
Agio Paper & Industries Limited – IND C – – –
AGR Steel Strips Private Limited – IND BB IND A4+ – Stable
Air India Limited – IND AAA(SO)(exp) - – -
Air India Limited – IND AAA(SO) - – -
Air India Ltd (formerly National Aviation Company of India Limited) – IND AAA(SO) – – –
Air Travel Bureau Limited – IND BBB IND A3+ – Stable
Air Works India Engineering Pvt Ltd – IND BBB+ IND A2+ – Stable
Air-India Charters Limited – IND AAA(SO) – – –
Aishwarya Farms IND D – –
Aishwarya Feeds – IND B+ IND A4 – Stable
Ajay Trading Company – IND B+(suspended) IND A4(suspended) – -
Akash Coke Industries Private Limited – IND C(suspended) IND D(suspended) – –
AKC Steel Industries Ltd. – IND BB- – – Stable
Alchemist Hospitals Limited – IND B+ – – Stable
Alchemist Limited – IND BBB- IND A3 – Negative
Alkor Petroo Limited – IND BBB+(SO) – – –
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 – Stable
Amaravathi Sri Venkatesa Paper Mills Limited – IND D IND D – –
Amaravthy Spinning Mills – IND D/ IND C IND C – –
Amba Highrise Pvt Ltd – IND B – – Stable
Amber Electrotech Ltd. – IND B+ IND A4 – Stable
Amber Enterprises (India) Private Limited – IND A- IND A2+ – Stable
Ambica Steels Limited – IND BB+ IND A4+ – Positive
Ambuja Cement Limited (formerly known as Gujarat Ambuja Cements
Limited) – IND AAA IND A1+ – Stable
Amir Chand Jagdish Kumar (Exports) Limited – IND BBB- IND A3 – Stable
Amon-ra Impex Private Limited – IND B+ IND A4 – Stable
Amorphos Chemicals Private Limited – IND B+(suspended) IND A4(suspended) – –
Amroon Foods Private Limited (Fair Group Entity) – IND BB- IND A4+ – Stable
Ananth Technology Limited - IND BB IND A4+ – Stable
Anchor Malls Private Limited – IND B+ – – Stable
Andhra Pradesh Fibres Limited – IND BB-(suspended) IND A4+(suspended) – –
Andrew Yule & Co. Ltd IND D IND C IND A4 – –
Anmol Biscuits Limited – IND A IND A1 – Stable
Ansal Housing and Construction Limited – IND BB- IND A4+ – Stable
Antelec Pvt Ltd – IND BBB- IND A3 – Stable
AR Airways Private Limited – IND BB- – – Stable
Aradhya Steel Private Limited – IND BB- IND A4+ – Stable
Arc Marine Private Ltd – IND D IND D – -
Arena Lifestyle Pvt Ltd – IND BB A4+ – Stable
ARG Developers Pvt. Ltd. – IND B(suspended) – – -
ARG Housing Pvt. Ltd. – IND B(suspended) – – -
Arise India Limited – IND BBB+ IND A2 – Stable
Arjun Agro Foods - IND B IND A4 - Stable
Aruna Alloy Steels Private Limited – IND BB+ IND A4+ – Stable
Aryavrat Trading Private Limited – IND B- – – Stable
Ashika Commercial Private Limited – IND B IND A4 – Stable
Asian Colour Coated Ispat Limited – IND BBB- IND A3 – Stable
Asian Tea & Exports Limited (Asian Tea Group Entity) – IND BB+ IND A4+/ IND A4+(exp) – Stable
Asian Tea Company Private Limited(Asian Tea Group Entity) – – IND A4+ – –
Asritha Paper Mills Private Ltd – IND B- – – Stable
Atlanta Limited – IND BBB-(suspended) IND A3(suspended) – –
Aurobindo Pharma Limited – IND AA- IND A1+ – Stable
Aurobindo Pharma Limited (Additional Bank Loans) – IND AA- IND A1+ – Stable
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
Avani Vanijya Pvt. Ltd. – – IND A4 – –
Avaya Industries Ltd – IND B+ IND A4 – Stable
Axiom Cordages Limited (formerly Axiom Impex International Limited) – IND A- IND A1 – Stable
Axles India Limited - IND A- IND A2+ - Stable
B & A Packaging India Limited (formerly B&A Multiwall Packaging Limited) – IND BB-(suspended) IND A4+(suspended) – -
B Sorabji Group – IND B – – Stable
B.G. Shirke Construction Technology Pvt Ltd – IND A- IND A2+ – Negative
B.G. Shirke Construction Technology Pvt (Additional Bank Loans) – IND A- IND A2+ – -
B.N.T. Connections Impex Ltd – IND BB- IND A4+ – Stable
B.N.T. Innovations Private Limited – IND BB- IND A4+ – Stable
Baby Engineering Private Limited (BEPL) - IND D IND A4 - -
Bagh Bahar Appliances Private Limited – IND BB/IND BBB-(SO) IND A3(SO) – Stable
Bajaj Eco Tech Products Limited – IND B IND A4 – Stable
Balaji Action Buildwell – IND BBB- IND A3 – Stable
Balaji Amines Limited – IND A- IND A2+ – Stable
Balaji Greentech Products Limited – IND D – – -
Balaji Oil Industries Private Limited – IND B+ IND A4 – Stable
Balaji Powertronics – IND A IND A1 – Stable
Balasore Alloys Limited – IND BB- IND A4+ – Stable
BalKrishna Synthetics Ltd – IND BBB- IND A3 – Stable
Ballarpur Industries Limited – IND AA- IND A1+ – Negative
Ballyfabs International Limited – IND BBB- IND A3 – Stable
Balmer Lawrie Company Limited – – IND A1+ – –
Bannari Amman Apparel Private Ltd – IND B IND A4 – Stable
Bansal Biscuits Private Limited – IND A IND A1 – Stable
Bansal Coal Udyog Private Limited – IND B – – Stable
Batliboi Environmental Engineering Ltd. – IND B+ IND A4 – Negative
Batliboi Limited – IND B- IND A4 – Stable
Bay Forge Ltd – IND B+ IND A4 – Stable
BC Sen & Co Ltd – IND BBB IND A2 – Stable
Beekay Steel Industries Limited – IND BBB- IND A3 – Stable
Beri Udyog Private Limited – IND BBB- IND A3 – Stable
Bhadresh Trading Corporation Ltd – IND BBB- IND A3 – Stable
Bhansali Engineering Polymers Limited – IND BB IND A4+ – Negative
Bharat Construction – IND BB IND A4+ – Stable
Bharat Cotton Corporation - IND B- IND A4 - stable
Bharat Heavy Electricals Limited – IND AAA IND A1+ – Stable
Bharat Hydel Projects Private Limited – IND BB IND A4+ – Stable
Bhartiya International Limited – IND A− IND A2+ – Stable
Bharuch Enviro Infrastructure Pvt Limited – IND BBB- IND A3 – Stable
Bhaskar Sarachi Alloys Ltd – IND B IND A4 – Stable
Bhatia Wines (Bhatia Group Entity) – IND BBB - – Stable
Bhavya Constructions Pvt. Ltd – IND B+/ IND B+(exp) – – Stable
Bhoruka Park Pvt Limited – IND BBB+ – – Stable
Bhumya Pvt Limited – IND D – – –
Bhushan Power and Steel Limited (Formerly as Bhushan Limited) – IND A- IND A2+ – Stable
Bilcare Limited ► – IND BBB+ IND A2+ – -
BILT Graphic Paper Products Limited – IND AA- IND A1+ – Negative
Binani Cements Limited – IND A(suspended) IND A1(suspended) – –
Biopac India Corporation Limited – IND B IND A4 – Stable
BLA Coke Pvt. Ltd IND A- - Stable
Blue Dart Express Ltd – – IND A1+ – –
Blues Clothing Company Limited – IND BB+ IND A4+ – Stable
Bonai Industrial Company Ltd – IND AA- IND A1+ – Stable
Borah Brothers Private Limited – IND BB- – – Stable
Bostin Engineers Pvt Limited – IND B+ IND A4 – Stable
Brahma Iron & Power Ltd – IND B(suspended) – – –
Brahmani River Pellets Limited – IND BB+ – – Negative
Bramhacorp Hotels & Resorts Limited – IND B+(suspended) – – –
BTT Industries Private Limited – IND BB IND A4+ – Stable
Calcutta 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 – Stable
Capital Power Infrastructure Private Limited – IND BB IND A4+ – Stable
Capital Power Systems Limited – IND B+ IND A4 – Stable
Carraro India Pvt Ltd – IND BBB+ IND A2+ – Stable
Caterpillar India Private Limited – IND AAA IND A1+ – Stable
CCL Products (India) Limited – IND A- IND A1 – Positive
Celestial Biolabs Limited – IND D IND D – –
Century Aluminium Manufacturing Co. Limited – IND BB IND A4+ – Stable
CG Ispat Private Limited – IND BB+(suspended) IND A4+(suspended) – –
Chandukaka Saraf and Sons Pvt. Ltd – IND BBB IND A2 – Stable
Charchco Electronics (India) Private Limited - IND B - - Stable
Chemical & Mineral Industries Private Limited – IND BB+ IND A4+ – Stable
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
Chemplast Sanmar Limited – IND BBB- IND A3 – Stable
Chemrow India Private Limited – IND B+ IND A4 – Stable
Chetan Wood Processing Private Limited – IND D – – –
Chhatisgarh SEB IND A- IND A- – – Stable
Chiripal Industries Limited – IND BBB- IND A3 – Stable
Chiripal Polyfilms Pvt. Ltd IND BB+ IND A4+ Stable
Choksi Imaging Limited – IND BBB- IND A3 – Negative
Chola Spinning Mills Private Limited – IND BBB- IND A3 – Stable
Chowdary Spinners Limited – IND B+ IND A4 – Stable
Cimmco Limited – IND BBB IND A2 – Stable
Cinevistaas Ltd. – IND BB-(suspended) IND A4+(suspended) – –
CIPSA TEC India Private Limited (formerly CIPSA-RIC India Pvt Ltd) – IND D(suspended) IND D(suspended) – –
Citycom Networks Private Limited – IND B+ – – Stable
Claridges Hotel Private Limited – IND B+ – – Stable
Claris Lifesciences Limited – IND A- IND A1 – –
Classic Knits India Private Limited – IND BB- IND A4+ – Stable
Colour Roof India Limited – IND BB+(suspended) IND A4+(suspended) – –
Coramandel Infrastructure Private Limited – IND BB+ IND A4+ – Stable
Coromandel International Ltd – IND AA+ – – Stable
Cosmic Ferro Alloys Ltd – IND BB+(suspended) IND A4+(suspended) – -
Cosmo Films Limited – IND A- IND A1 – Stable
Cosmos Industries Limited – IND C IND A4 – –
Crompton Greaves Limited IND AA+ IND AA+ IND A1+ – Negative
Cronimet Alloys India Limited – IND BBB- IND A3 – Stable
Crown Corporation Private Limited – IND BB- – – Stable
Crystal Cable Industries Limited – IND D/ IND C IND A4 – –
Crystal Clothing Company – IND D - – -
Ctrl S Datacenters Limited – IND BB- – – Stable
Cyberabad Citizen Health Services (P) Ltd ▼ – IND B – – –
Dachser India Private Limited (formerly AFL Dachser Pvt Ltd) – IND BBB+ IND A2 – Positive
Dadiji Steels Ltd – IND BB – – Stable
Dadu Pipes Pvt. Ltd. – IND BB-(suspended) IND A4+(suspended) – -
Damodar Valley Corporation – IND AA- – – Negative
Damodar Valley Corporation (INR 26 bn Bond programme) – ND AAA(SO)(exp) – – –
Damodar Valley Corporation (INR44bn) – IND AAA(SO) – – –
Darjeeling Organic Tea Estates Pvt. Ltd. – IND B IND A4 – Stable
Dattatreya Textiles Private Limited – IND BBB- IND A3 – Stable
DCS Trading and Services Pvt Ltd – IND BB- IND A4+ – Stable
DCW Limited – IND A- IND A1 – Stable
Deccan Charters Limited
–
IND A-(suspended) IND A2+(suspended)
– –
Deccan Fine Chemicals (India) Pvt Ltd
–
IND BB IND A4+
– Stable
Delhi Diamonds Private Limited (MM group Entity) – IND BB- IND A4+ – Stable
Delhi MSW Solutions Limited – IND A(SO) IND A1(SO) – –
Delhi Transco Limited – IND A+ IND A1 – Stable
Delta Construction Systems Limited – IND BB- IND A4+ – Stable
Deltronix India Limited – IND BBB IND A2 – Positive
Deluxe Cold Storage & Food Processors Limited (Shree Bankey Behari group
Entity)
–
IND BBB-(exp) IND A3(exp)
- -
Deluxe Cold Storage & Food Processors Limited (Shree Bankey Bihari Group
Entity)
–
IND BBB- IND A3
– Stable
Devi Fisheries Limited - IND BBB IND A2 - Stable
Dhruvdesh Metasteel Private Limited – IND BB IND A4+ - Stable
Dignity Innovations - IND B IND A4 - Stable
Diwan 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+ – Stable
Duet India Hotels (Jaipur) Private Limited – IND B+ – – Stable
Dynatron Services Private Limited – IND BB- – – Stable
Eastman Exports Global Clothing Private Limited – IND A- IND A2+ – Stable
ECI Engineering & Construction Company Limited – IND BBB+ IND A2 – Stable
Educomp Solutions Limited – IND A IND A1 – Stable
Elder Instruments Pvt. Ltd. – IND B IND A4 – Stable
EMC 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+ – Stable
Emitec Emission Control Technologies India (Pvt) Ltd
–
IND BBB+ IND A2+
– Stable
Emkay Automobile Industries Limited – IND BBB- IND A3 – Stable
Emta Coal Ltd. – IND BBB+ IND A2 – Stable
Emta Coal Ltd. – IND BBB(Preference Shares)– – Stable
Enercon Windfarms Karnataka Limited – IND AAA(SO) – – Stable
English Indian Clays Limited – IND A IND A1 – Stable
Enn Tee International Private Limited – IND B+ IND A4 – Stable
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
Ennore Coke Limited – IND B IND A4 – Stable
Enpro Oil Private Limited – IND BBB- IND A3 – Stable
Epoch Electronica Limited – IND B+ IND A4 – Stable
Equinox Business Parks Pvt. Ltd. (formerly Essar Technology Park BKC Pvt.
Ltd)
– IND BBB-(suspended) – – -
Essar Bulk Terminal Ltd – IND BBB+ IND A2 - Stable
Essar Oil Limited – IND BBB+ – – Stable
ESVEEGEE Breweries Private Limited – IND D – – –
Eswar Rubber Products Pvt Ltd – IND BB- IND A4+ – Stable
Eternal Heart Care Centre and Research Institute Private Limited – IND B+ – – Stable
Evershine Towers Pvt. Ltd. – IND D IND D – –
Excellent Moulders – IND BB- IND A4+ – Stable
Exotica International – IND D IND D – –
Extramarks Education Private Limited – IND BBB+ IND A2+ – Stable
Fabtech Projects & Engineers Ltd – IND BBB IND A2 – Stable
Fair Exports India Private Limited (Fair Group Entity) – IND BB- IND A4+ – Stable
Feedatives Pharma Private Limited – IND B – – Stable
Feegrade & Company Pvt. Ltd – IND AA- IND A1+ – Stable
FIL Industries Limited – IND BB+ IND A4+ – Stable
Filtra Catalysts & Chemicals Ltd - IND B+ IND A4 - Stable
Financial Inclusion Network and Operations Ltd – IND BBB IND A2 – Stable
Flex Foods Limited – IND BB IND A4+ – Stable
Fouress Engineering India Pvt Ltd – IND BB+ IND A4+ – Stable
Fresenius Kabi India Private Limited – IND BBB-/ IND AA-(SO) IND A3/ IND A1+(SO) – Stable
Fuso Glass India Private Limited – IND D IND D – -
Future Value Retail Limited – IND A- – – Stable
G.E.T. Power Private Ltd – IND BBB IND A3+ – Stable
Gagan Pulses Private Limited (Shree Bankey Behari group Entity) – IND BBB-(exp) IND A3(exp) - -
Gagan Pulses Private Limited (Shree Bankey Bihari Group Entity) – IND BBB- IND A3 – Stable
Gajanan Agro Mills Pvt Ltd – IND BB- IND A4+ – Stable
Gajanan Industries – IND B+ IND A4 – Stable
Gajanan Solvex Limited – IND B+ – – Stable
Galaxy Exports Private Limited – IND B – – Stable
Gallantt Ispat Limited – IND B IND A4 – Stable
Ganga Rasayanie Private Limited – IND BBB+ A2+ – Stable
Gangakhed Sugar and Energy Pvt Ltd – IND BB- – – Stable
Gansons Limited (Gansons) – IND BB- – – Stable
Gateway Distriparks Limited – IND A+ IND A1+ – Positive
Gateway 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+ – Stable
GBM Manufacturing Private Limited – IND B+ IND A4 - Stable
Genix Automation Private Limited – IND C – – –
Genus Power Infrastructures Limited – IND A- IND A1 – Stable
Ginni Filaments Limited – IND B+ IND A4 – Stable
Giriraj Enterprises – IND BBB IND A3 – Positive
Gland Pharma Ltd – IND A IND A1 – Stable
Global Castings Private Limited – IND BB- IND A4+ – Stable
Global Entropolis Vizag Pvt Ltd – IND B – – Stable
Global Green Company Limited – IND BBB- IND A3 – Stable
Global Softech Limited – IND D IND D – –
GMS Elegant Builders India Private Limited – IND BB- IND A4+ – Stable
Go 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 IND D – –
Golden Prince (Bhatia Group Entity) – IND BBB - – Stable
Goldstar Metal Solutions Pvt. Ltd - IND BB- IND A4+ - stable
Golkonda Hospitality Services and Resorts Limited – IND BB- IND A4+ – Stable
Gontermann-Peipers (India) Limited – IND D/IND C IND A4 – –
Gopsons Papers Limited – IND D IND D – –
Govind Rubber Limited – IND D(suspended) – – –
Goyal Energy & Steel Pvt. Ltd. – IND BB- – - Stable
GR Infrastructure Private Ltd – IND BBB – – Stable
Grace Suppliers Private Limited – IND B IND A4 - Stable
Grain Milling Limited – IND BBB- IND A3 – Stable
Greaves Cotton Limited – IND AA IND A1+ – Stable
Grotech Landscape Developers Private Limited – IND BB IND A4+ – Stable
GRT Hotels and Resorts Private Limited – IND BBB+ – – Stable
GSPC Gas Company Limited► – IND A IND A1 – –
GTL Infrastructure Limited▼ – IND C IND A4 – –
Gujarat Borosil Limited – IND B+ IND A4 – Negative
Gujarat State Fertilisers & Chemicals Limited – IND AA+ IND A1+ – Stable
Gulabdas & Co. - - IND A4 – –
Gupta Machine Tools Limited (formerly Precision Stampings) – IND BBB+ IND A2+ – Positive
GVR Infra Projects Limited – IND BBB+ IND A2 – Stable
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
Hale Electronics India Private Limited – IND B(suspended) IND A4(suspended) – –
Hansa Metallics Ltd - IND BB IND A4+ - Stable
Hanumant Vanijya Pvt. Ltd. – IND D – – –
Hardcastle Restaurants Pvt Ltd – IND BBB IND A2 – Stable
Harshit Power & Ispat Pvt Ltd – IND D(suspended)/ IND C(suspended)IND A4(suspended) – –
Hathway Cable & Datacom Private Limited – IND A- IND A2+ – Stable
HCL Infosystems Limited▼ – IND A+ IND A1+ – -
HEG Limited – IND A+ IND A1+ – Stable
HELA Systems Private Limited - IND A IND A1 - Stable
Hema Engineering Industries Limited – IND BB IND A4+ – Stable
Hexa International Pvt. Ltd. – IND BB- – – Stable
Hightemp Furnaces Limited – IND BBB- IND A3 – Positive
Himachal Power Products – IND BBB- IND A3 – Stable
Hind Terminals Private Limited – IND BBB+ IND A2 – Stable
Hindustan Coca-Cola Beverages Private Limited – IND AAA IND A1+ – Stable
Hindustan Dorr-Oliver Limited▼ – IND BB IND A4+ – -
Hindustan Petroleum Corporation Limited – IND AAA – – Stable
Hindustan Unilever Limited (formerly known as Hindustan Lever Limited)
–
IND AAA –
– Stable
Hi-Tech Gear Limited – IND A IND A1 – Stable
Hi-Tech Robotic Systemz Limited – IND BB IND A4+ – Stable
Hotel AT International – IND B- – – Stable
HPCL - Mittal Energy Limited – IND AA- IND A1+ – Stable
HPCL - Mittal Pipeline Limited – IND AA- – – Stable
HPCL Biofuels Ltd – IND A IND A1 – Stable
HPCL-Mittal Energy Limited – IND AA- IND A1+ – Stable
HPL Electric & Power Private Limited – IND BBB+ IND A2 – Positive
IA Energy – IND B+ - – Stable
IBM India Pvt. Ltd. – IND AAA IND A1+ – Stable
IBS Software Services Private – IND BBB- IND A3 – Stable
IFB Agro Industries Limited – IND BBB+ IND A2+ – Stable
IFB Automotive Private Limited – IND A IND A1 – Stable
IFB Industries Limited – IND A IND A1 – Stable
IL&FS Clusters Development Initiative Limited – IND A+(SO) IND A1(SO) – –
IL&FS Education and Technology Services Limited – IND A+ IND A1 – Stable
IL&FS Skills Development Corporation Limited – IND A+(SO) IND A1(SO) – -
IL&FS Transportation Networks Limited – IND A - – Stable
ILD Millennium Private Limited – IND B+ IND A4 – Stable
Ilex Developers and Resorts Limited – IND B+ – – Stable
IMECO Limited – IND D IND D – –
IMI Mobile Private Limited - IND A- IND A1 - Stable
Imperial Auto Industries Limited – IND BBB+ IND A2 – Positive
Imperial Readymade Garments Factory India Private Limited – IND B(suspended) IND A4(suspended) – –
Impex Ferro Tech Limited – IND C(suspended) IND A4(suspended) – –
Ind Expo – – IND A4 – –
India Dyeing Mills Pvt. Ltd – IND A- IND A2+ – Stable
India Glycols Limited – IND A- IND A2+ – Stable
Indian Acrylics Limited – IND BB+ IND A4+ – Stable
Indian Express Newspapers (Mumbai) Limited – IND A- – – Stable
Indian Farmers Fertiliser Cooperative Limited – IND AA IND A1+ – Stable
Indian Oil Corporation – IND AAA – – Stable
Indic EMS Electronics Private Limited – IND B IND A4 – Stable
Indo – Continental Hotels & Resort Ltd – IND BBB- IND A3 – Stable
Indo American Electricals Limited – IND B+ – – Stable
Indo Arya Central Transport Limited – IND BBB+ IND A2 – Negative
Indo Farm Equipment Ltd. – IND BBB IND A3+ – Negative
Indo 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 BBB IND A3+ – Negative
Indus Fila Limited – IND D IND D – –
Indus Projects Private Limited – IND BB IND A4+ – Stable
Infinite Computer Solutions (India) Limited – IND AA- A1+ – Stable
Intelligent Infrastructure Ltd – IND BB+ – – Negative
Intergarden India Private Limited – IND BBB- IND A3 – Stable
Inventia Healthcare Private Limited – IND BBB+ IND A2+ – Stable
IOT Anwesha Engineering & Construction Ltd – IND A- IND A1 – Stable
IOT Engineering Projects Limited – IND A- IND A1 – Stable
IOT Infrastructure & Energy Services Ltd – IND AA- IND A1+ – Stable
IOT Utkal Energy Services Limited – IND A IND A1 – Stable
IRB Infrastructure Developers Ltd – IND A- IND A1 – Stable
ISMT Limited – IND A IND A1 – Stable
IVRCL Limited (formerly IVRCL Infrastructures & Projects Limited) – IND BBB+ IND A2+ – Stable
IVRCL Limited (formerly IVRCL Infrastructures & Projects Limited) [NCD] – IND BBB+ – – –
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
J Kumar Infraprojects Ltd – IND A- IND A1 – Positive
J.G. Hosiery Pvt Ltd – IND BBB IND A3+ – Stable
J.Thomas & Co. Pvt. Ltd. – IND BBB-(suspended) – – –
Jabil Circuits India Private Limited – IND AA+(SO) IND A1+(SO) – Positive
Jain Irrigation Systems Ltd – IND BB+ IND A4+ – Stable
Jaisingh Wires Private Limited – IND A- IND A1 – Stable
Jaquar & Company Private Limited – IND AA- IND A1+ – Stable
JBF Industries Limited – IND A IND A1 – Stable
Jindal Photo Limited – IND A+ IND A1+ – Stable
JK Paper Limited – IND BBB+ IND A2+ – Negative
JMD Oils Private Limited – IND BBB- IND A3 – Stable
Jodhani Exports – – IND A4 – –
Joharilal Agarwala Sales Pvt Ltd (Sri Balmukund Group Entity) – IND BB+ IND A4+ – Stable
Jonna Steels – IND B+ IND A4 – Stable
JSV Motors and Construction Private Limited – IND B IND A4 – Stable
Jubilant Agri and Consumer Products Limited – IND BBB- IND A3 – Stable
Jubilant Energy (Kharsang) Private Limited – IND BBB- – – Stable
Jubilant Enpro Private Limited - IND BBB- IND A3 – Stable
Jubilant Industries Limited – IND BBB- IND A3 – Stable
Jubilant Life Sciences Limited (formerly Jubilant Organosys Limited) – IND A+ IND A1+ – Stable
Jubilant Motors Private Limited – IND BBB- IND A3 – Stable
Jubilant Offshore Drilling Private Limited – IND BBB- – – Stable
Jubilant Oil & Gas Private Limited – IND BBB- – – Stable
K Bhupal Contractors – IND BB- IND A4+ – Stable
K.S. Commodities Private Limited – IND B IND A4 – Stable
Kali BMH Systems Private Limited – IND BB- IND A4+ – Stable
Kalpena Industries Limited
–
IND A- IND A1
– Stable
Kalyanpur Cement Limited – IND D – – –
Kamakshi Steels Private Limited – IND BB- IND A4+ – Stable
Kamladityya Construction Private Limited – – IND A3 – –
Kamlang Saw & Veneer Mills Private Limited
–
IND BB –
– Stable
Kandui Industries Pvt. Ltd (Additional Bank Loans) – IND BB- IND A4+ – -
Kandui Industries Pvt. Ltd. – IND BB- IND A4+ – Stable
Karan Kothari Jewellers Pvt Ltd – IND B+ IND A4 – Stable
KCT Trading Pvt. Ltd – IND BBB IND A2 – Stable
Kheria Autocomp Limited – IND B- - – Stable
Kiri Industries Limited (formerly Kiri Dyes and Chemicals Limited) – IND D IND D – –
KLT 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 – Stable
Krishna Knitwear Technologies Limited – IND D IND D – –
Kristna Engineering Works – IND BB IND A4+ – Stable
Ksheeraabd Constructions Private Limited – IND BB+ IND A4+ – Stable
Kundan Rice Mills Limited – IND BB IND A4+ – Positive
Kwality Dairy (India) Limited – IND BBB+ IND A2 – Stable
L & T Holdings Limited – IND AAA(SO) IND A1+ – Stable
Lafarge India Private Limited – IND AA+ - - Stable
Lambodhara Textiles Limited – IND BB IND A4+ – Stable
Leitwind Shriram Manufacturing Limited (formerly Leitner Shriram
Manufacturing Limited)
–
IND D IND D
– -
Liberty Oil Mills Limited – IND BBB IND A2 – Stable
Lifelong India Limited – IND BBB+ IND A2+ – Stable
Lifelong Meditech Limited – IND BBB+(SO) IND A2+(SO) – -
Lilasons Infrastructure Pvt Ltd
–
IND B- –
– Negative
Lite Bite Foods Private Limited – IND BBB+(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 – Stable
M.K. Patel Exim Pvt. Ltd – IND B+(suspended) IND A4(suspended) – -
M.K. Wood India Private Limited – IND BB IND A4+ – Stable
M.M. Jewellers (MM group Entity)–
IND BB- IND A4+– Stable
M/s Agarwalas (Sri Balmukund Group Entity) – IND BB IND A4+ – Stable
M/s Mangilall Rungta – IND A- IND A2+ – Stable
M/s Omcon (Reign Forest) Projects – IND BB- IND A4+ – Stable
M/s Ramya Steel Syndicate – IND B+ IND A4 – Stable
M/s Telu Ram Amar Chand and Company (Shree Bankey Bihari Group Entity) – IND BB+ IND A4+ – Stable
Macons Infratech Private Limited – IND B+ IND A4 – Stable
Ecologic Chemicals Limited (formerly Macred India Pvt Ltd) – IND BBB- IND A3 – Stable
Madras Fertilizers Limited – IND C/ IND D IND A4 – –
Magadh Industries Private Limited – IND C – – –
Magadh Iron Private Limited – IND B- – – Stable
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
Magneti Marelli Motherson Auto System Limited – IND BBB- IND A3 – Stable
Mahajan Fabrics Private Limited – IND B+ IND A4 – Stable
Mahalakshmi Infraprojects Ltd – IND BBB IND A2 – Stable
Maharashtra Hybrid Seeds Company Limited – IND A IND A1 – Negative
Mahavir Ore and Sponge Private Limited (Sri Balmukund Group Entity) – IND BB+ – – Stable
Mahindra EPC Services Pvt. Ltd – IND A- IND A2+ – Stable
Mahindra Holidays & Resorts India Limited – IND A IND A1 – Stable
Mahindra Holidays & Resorts India Limited (INR 750 m Purchaser Payouts) –IND A(SO)
- – -
Mahindra Holidays and Resorts Limited – IND A IND A1 – Stable
Mahindra Holidays and Resorts Limited (INR250m, INR500m, INR800, INR
500 purchaser payouts )
–
IND A(SO) –
– –
Mahindra Sanyo Special Steel Private Limited – IND BBB IND A2 – Stable
Mahindra Ugine Steel Company Limited► – IND A A1 – –
Mainetti (India) Pvt Ltd – IND BBB IND A3+ – Stable
Majestic Exports – IND B IND A4 – Stable
Malana Power Co Limited – IND AAA(SO)/ A- – – Stable
Malar Solvent Extraction Pvt. Ltd – IND BB- IND A4+ – Stable
Mallcom (India) Ltd – IND BB IND A4+ – Stable
Malvi Software Solutions Private Limited – IND BB+ IND A4+ – Stable
Mangal Pulses Private Limited (Shree Bankey Behari group Entity) – IND BBB-(exp) IND A3(exp) - -
Mangal Pulses Private Limited (Shree Bankey Bihari Group Entity) – IND BBB- IND A3 – Stable
Mangla Apparels India Private Limited – IND BB – – Stable
Mani Exports – IND BB- IND A4+ – Stable
Manjeera Hotels and Resorts Limited – IND B-(suspended) IND A4(suspended) – –
Manjeera Retail Holdings Private Limited – IND B – – Stable
Marsons Limited – IND D IND D – –
Martin Burn Constructions Limited – IND B IND A4 – Stable
Martin Burn Information Technology Pvt Ltd – IND B+ IND A4 – Stable
Master India Brewing Company – IND D – – –
Maurya Motors Limited (Himatsingka Group's Entity) – IND BB- IND A4+ – Stable
Mawmluh Cherra Cements Limited – IND C – – –
Maximum Synthetic Private Limited – IND B+ IND A4 – Stable
Medha Servo Drives Pvt. Ltd. – IND A IND A1 – Positive
Megasoft Limited – IND BBB IND A3+ – Negative
MEP and HVAC project contractor Perfect Infraengineers Ltd – IND BB- IND A4+ – Stable
Metco Roof Private Limited – IND BBB IND A2 – Stable
Metecno India Private Limited – IND BB-(suspended) IND A4+(suspended) – –
Midfield Industries Limited – IND C(suspended) IND A4(suspended) – –
Mihijam Vanaspati. Ltd. - IND B+ IND A4 - Negative
MIL Industries Limited – IND BB- IND A4+ – Negative
Minda Corporation Limited – IND BBB IND A2 – Stable
Minda Corporation Limited (Additional Bank Loans) – IND BBB - – -
Minda SAI Limited – IND BBB IND A2 – Stable
MindTree Limited – IND AA IND A1+ – Stable
Mittal Hospitals Limited – IND BB- IND A4+ – Stable
Mittapalli Agro Enterprises (Mittapalli Group Entity) – IND B IND A4 – Stable
Mittapalli Agro Exports (Mittapalli Group Entity) – IND B IND A4 – Stable
Mittapalli Agro Products Pvt Ltd (Mittapalli Group Entity) – IND B IND A4 – Stable
MJ Logistics Services Limited – IND BB- – – Positive
MK – – IND A4 – –
Modi Mundipharma Private Limited – IND BBB+ IND A2+ – Stable
Modi Revlon Private Limited – IND BB+ – – Negative
Mohan Gems & Jewels Private Limited (MM group Entity) – IND B+ IND A4 – Stable
Mortex Coke Industries – IND BB - – Stable
Motherson Advanced Tooling Solutions Limited – IND BBB- IND A3 – Negative
Motherson Auto Limited – IND BBB- – – Stable
Mountain Spinning Mills Limited – IND B+ IND A4 – Negative
Mudra Lifestyle Limited – IND D IND D – –
Mudra Lifestyle Limited – IND C/ IND D IND D – –
Mukunda Dairy Products Private Limited – IND BB+ IND A4+ – Stable
Mukunda Dairy Products Private Limited – IND BB+(exp) IND A4+(exp) – Stable
Multitude Infrastructures Private Limited – IND B+ – – Stable
Mumbai Waste Management Ltd. – IND A IND A1 – Stable
MVL Limited – IND D – – -
N.S. Engineering Projects Pvt Ltd – IND C(suspended) IND A4(suspended) – –
Naga Limited – IND BBB- IND A3 – Stable
Nandan Exim Limited – IND BBB- IND A3 - Stable
Nandan Petrochem Limited (Additional Bank Loans) – IND BB+ IND A4+ – -
Nandan Petrochem Ltd – IND BB+ IND A4+ – Stable
Nandini Impex Private Limited – IND D IND D – –
National Peroxide Limited – IND A IND A1 – Stable
Nav Bharat Buildcon Private Limited – IND B+ IND A4 – Stable
Navnitlal Private Limited – IND B – – Negative
NDV Enterprise Pvt. Ltd – IND B+ IND A4 – Stable
Nectar Lifesciences Limited – IND A- IND A1 – Stable
Neelkamal Steels Private Limited – IND B – – Stable
Neerajaksha Iron and Steel Private Limited – IND B IND A4 – Stable
Neo Metaliks Limited – IND BB IND A4+ – Stable
Neosa Electronics Private Limited – IND B - – Stable
Neptune Developers Limited – IND B- – – Negative
New Tech Steel & Alloys Private Limited – IND D – – –
NEXT Retail Limited – IND BB+(suspended) – – -
Neyveli Lignite Corporation Ltd – IND AAA – – Stable
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
NHPC Limited – IND AAA IND A1+ – Stable
NHPC Limited (Bond Programme) – IND AAA(exp)/IND AAA - – -
NIIT Limited – IND AA- IND A1+ – Stable
Ninestars Information Technologies Limited – IND BBB- IND A3 – Stable
Ninex Developers Limited – IND D – – –
Niros Ispat Pvt Ltd – IND B+ IND A4 – Stable
Nithya Packaging Private Limited – IND BBB- IND A3 – Stable
Nitin Alloys Global Limited – IND BB+(suspended) IND A4+(suspended) – –
Nitin Castings Limited – IND BB(suspended) IND A4+(suspended) – –
Noida Power Company Limited – IND A IND A1 – Positive
Northend Foods Marketing Private Limited – IND BBB- IND A3 – Stable
Novel Sugar Limited – IND BB- IND A4+ – Stable
NR Agarwal Industries Ltd – IND D IND D – –
NRP Projects Private Limited – IND BB+ IND A4+ – Stable
NSL Renewable Power Private Limited – IND BBB- – – Stable
NTPC Limited – IND AAA IND A1+ – Stable
nuFuture Digital (India) Limited – IND BBB- – – Stable
Officedge India Private Limited – IND BB IND A4+ – Stable
Ogene Systems India Private Limited – IND B+ – – Stable
Olive 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 – Stable
Om Steel Traders Chennai Private Limited – IND B IND A4 – Stable
OPS International (Om Prakash Group Entity) – IND B- IND A4 – Stable
Oragadam City Developers Private Limited – IND BBB IND A3+ – Stable
Orient Fashion Exports (India) Private Limited – IND BBB- IND A3 – Stable
Orissa Order Suppliers Private Limited - IND B+ - - Stable
ORIX Auto Infrastructure Services Limited – IND A+ IND A1+ – Stable
Oswal Knits India Limited – IND D IND D – -
Owens-Corning (India) Private Limited – IND AA IND A1+ – Stable
P.N.Writer & Company Pvt Ltd – IND A- – – Stable
P.S. Krishnamurthy Steels Private Limited – IND BB+ IND A4+ – Stable
Pakiza Retail Ltd – IND BB(suspended) – – -
Pandi Devi Oil Private Limited – IND B+ IND A4 – Stable
Pantaloon Retail (India) Limited – IND A- IND A1 – Stable
Panyam Cement & Mineral Industries Ltd – IND B-(suspended) – – –
Patel Integrated Logistics Limited – IND BBB- IND A3 – Stable
Pawan Hans Helicopters Limited – IND A – – Stable
PDK Shenaz Hotels Private Limited – IND C(suspended) – – –
Pearl Polymers Limited – IND BB+ IND A4+ – Stable
PEC Limited – IND A- IND A2+ – Stable
Peerless Hospitex Hospital and Research Center Limited – IND B- – – Stable
Perfect Alloy Components Pvt. Ltd. – IND BBB IND A2 - Stable
Permeshwar Creations Pvt. Ltd – IND B+ IND A4 - Stable
Petronet LNG Ltd IND AA+ – IND A1+ – Positive
Phorotech Surfin (India) Pvt Ltd – IND BB+ IND A4+ – Stable
Pibco India Pvt. Ltd. – IND B+ IND A4 – Stable
Piccadily Agro Industries Limited – IND BB+ IND A4+ – Stable
Piccadily Hotels Private Limited – IND B- – – Stable
Pioneer Genco Limited – IND BBB – – Stable
Pioneer Steels - IND B+ IND A4 - Stable
Plastolene Polymers Private Limited – IND D IND D – –
Polycab Wires Industries Private Limited – IND BBB- IND A3 – Stable
Polycab Wires Private Limited – IND A IND A1 – Stable
Polyhose Rubber India Private Limited – IND BB+(suspended) IND A4+(suspended) – –
Pooja Forge Limited – IND BBB+ IND A2+ – Stable
Poompuhar Shipping Corporation Limited – IND BBB IND A2 – Stable
Power Finance Corporation – IND AAA IND A1+ – Stable
Prakasa Spectro Cast Pvt Ltd – IND BB IND A4+ - Stable
Prakash Parcel Services Private Limited – IND BB+ – – Stable
Pratibha Shipping Company Limited – IND BBB-(suspended) - – -
Precision Automation and Robotics India Limited – IND BBB+(suspended) IND A2+(suspended) – –
Precision Infomatics (M) Private Limited – IND B+ IND A4 – Stable
Premium Transmission Ltd (formerly Premium Energy Transmission Limited)
–
IND A+
IND A1+ – Positive
Primacy Industries Limited – IND BBB IND A3+ – Stable
Prime Focus Limited – IND A- IND A2+ – Stable
Prime Impex Limited – – IND D(suspended) – –
Prime Newline AOP – IND BB IND A4+ – Stable
Prime Pulses Pvt. Ltd. – – IND D(suspended) – –
Priya Limited – – IND A4+ – –
Profit Shoe Company Private Limited - IND BB IND A4+ - Stable
PSL Limited – IND BBB(suspended) IND A3+(suspended) – –
PTC India Limited – – IND A1+ – –
Punch Ratna Fasteners Private Limited – IND BBB- IND A3 – Stable
Puravankara Projects Limited – IND BBB – – Stable
PV Infra Project Pvt Ltd – IND BB- IND A4+ – Stable
PVN Fabrics – IND B+ IND A4 – Stable
PVN Fabrics (Additional Bank Loans) – IND B+ IND A4 – -
PVN Tex (Additional Bank Loans) – IND B+ IND A4 – -
PVN Tex Industries – IND B+ IND A4 – Stable
QH Talbros Limited – IND BBB IND A2 – Positive
R.K. Infracorp Private Limited – IND BB(suspended) IND A4+(suspended) – –
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
R.S. Vanijya Private Limited – IND D IND D – –
R.S.V. Constructions Private Limited – IND BB- IND A4 – Stable
Raghu Infra Private Limited – IND BBB-(suspended) IND A3(suspended) – -
Ragmet Engineers Pvt Ltd – IND B IND A4 – Stable
Railone Projects Private Limited – IND BB- IND A4+ – Stable
Rain Cements Ltd – IND A- IND A2+ – Stable
Rain CII Carbon (Vizag) Ltd – IND A- IND A2+ – Stable
Raj Group – IND BB+ IND A4+ – Stable
Raj Infrastructure Development (India) Pvt Ltd. – IND BB+ IND A4+ – Stable
Raj Infrastructure Pvt Ltd – IND BB+ IND A4+ – Stable
Raj Infrastructure Technologies (India) Pvt Ltd – IND BB+ IND A4+ – Stable
Raj Promoters & Civil Engineers Pvt Ltd – IND BB+ IND A4+ – Stable
Raj Rayon Industries Limited IND BBB- IND A3 Stable
Rajasthan Patrika Private Limited – IND BBB+ IND A2+ – Stable
Rajshekhar Constructions Private Limited – IND B+ IND A4 – Stable
Rangoli International Private Limited – IND BB+ IND A4+ – Stable
Rangsons Electronics Private Limited – IND BBB- IND A3 – Stable
Rashi Metals Pvt Limited – IND D – – –
Rashtriya Ispat Nigam Limited – IND AA IND A1+ – Stable
Ratan Mica Exports Private Limited – IND B+ IND A4 – Stable
Ravi Metallics Limited – IND D IND D – -
Ravitej Projects Private Ltd – IND BB- IND A4+ – Stable
Raychem RPG Limited – IND A+ IND A1+ – Stable
Real Image Media Technologies Pvt Ltd. – IND BBB IND A2 Stable
Reckon Pharmachem Private Limited – IND BB IND A4+ – Stable
Reliance Industries Limited – IND AAA – – Stable
Reliance Infrastructure Limited (formerly known as Reliance Energy Limited)
–
IND AA
IND A1+ – Stable
Relishah Export – IND B+ IND A4 – Stable
Replika Press Private Limited – IND BBB IND A2 – Stable
Responsive Industries Limited – IND A- IND A1 – Stable
Restore Machines India Private Limited – IND D IND D – –
Riba Textiles Limited – IND B IND A4 – Stable
Richa Industries Limited – IND BB+ IND A4+ – Stable
Rika Global Impex Limited – IND BBB- IND A3 – Stable
RITES Ltd – – IND A1+ – –
Ritzy International Pvt. Ltd. – IND B+ IND A4 – Stable
Roto India Enterprise – IND D IND D – –
Routes Travel Limited – IND BBB IND A3+ – Stable
Rudra Techno Feeds – IND B(suspended) IND A4(suspended) – –
Rungta Mines Limited – IND AA IND A1+ – Stable
Rungta Sons Pvt. Ltd – IND AA- IND A1+ – Stable
Rupa & Company Limited – IND A IND A1 – Stable
Rural Electrification Corporation Limited – IND AAA IND A1+ – Stable
Rural Electrification Corporation Limited (Additional Borrowing Programme) –IND AAA
- – -
S R Enterprise – IND D IND D – –
S. M. Apparels Private Limited – IND D – – –
Saati Kusumgar India Private Limited – IND B+(suspended) IND A4(suspended) – –
Safari Industries (India) Limited – IND B+ IND A4 – Stable
Sagar Roofings Private Limited – IND BB+ IND A4+ – Stable
Sagar Steels – IND BB- – – Stable
Sah Petroleums Limited – IND BBB IND A2 – Stable
Sahyogi Distributors Limited – – IND A4(suspended) – –
Sai Construction Private Limited – IND B+ – – Negative
Sai Sponge (India) Limited – IND BB- IND A4+ – Stable
Salcomp Manufacturing India Private Limited – IND BBB+ IND A2+ – Stable
Saluja Steel & Power Private Limited – IND C(suspended) IND D(suspended) – –
Sam Buildcon Limited – IND BB(suspended) IND A4(suspended) – –
Samarth Fablon Pvt. Ltd. – IND BB+ IND A4+ – Stable
Samprash Foods Private Limited – IND D IND D – –
Samtex Fashions Limited – IND BB(suspended) IND A4+(suspended) – –
Sandhar Technologies Limited – IND A- IND A1 – Stable
Sanghvi Foods Private Limited – IND BBB- – – Stable
Sanjog Steels Private Limited – IND B IND A4 – Stable
Sanskar Agro Processors (Pvt) Ltd – IND B+ – – Stable
Sara Suole Private Limited - IND BBB-/IND BBB-(exp) IND A3/IND A3(exp) - Stable
Saraf Chemicals Ltd – IND BB- IND A4+ – Stable
Sargam Retails Private Limited – IND BBB – – Positive
Sargodha Oil Mills Private Limited (Shree Bankey Bihari Group Entity) – IND BBB- IND A3 – Stable
Sarju Impex Limited – IND B- IND A4 – Negative
Satyam Auto Components Limited – IND AA- IND A1+ – Stable
Saurav Chemicals Limited – IND BB+ IND A4+ – Stable
Savorit Limited – IND B+ IND A4 – Stable
Savvy Projects Private Limited – IND BBB- IND A3 - Stable
SEAM Industrials Pvt. Ltd. (formerly Sunil Hitech Engineers & Manufacturers
Pvt Ltd)
–
IND BB+
IND A4+ – Stable
Seaways Shipping and Logistics Limited – IND BB IND A4+ – Stable
Segno Ceramics Private Limited - IND BB- IND A4+ - Stable
Semantic Space Technologies Limited – IND A IND A1 – Stable
SEW Infrastructure Limited – IND A+ IND A1+ – Stable
SEW Infrastructure Limited – IND A – – –
Shahi Exports Private Limited – IND A- IND A2+ – Stable
Shalimar Industries Limited – IND B IND A4 – Positive
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
Shankar Motors Limited (Himatsingka Group's Entity) – IND BB- IND A4+ – Stable
Shanti Sales India Private Limited – IND B- IND A4 – Stable
Sharmanji Yarns Private Limited – IND BB+ IND A4+ – Stable
Sharp Engineering Services – IND BB-(suspended) – – -
Shetron Limited – IND D IND D – –
SH-Haryana Wires Limited – IND BB- IND A4+ – Stable
Shivalik Industries – IND BBB- IND A3 – Stable
Shivam Meltech Private Limited – IND B IND A4 – Stable
Shopper’s Stop Limited – – IND A1 – –
Shree Bankey Behari Exports Limited (Shree Bankey Behari group Entity) – IND BBB-(exp) IND A3(exp) - -Shree Bankey Behari Food Processors Private Limited (Shree Bankey Bihari
Group Entity) – IND BBB- IND A3 – Stable
Shree Bankey Bihari Exports limited (Shree Bankey Bihari Group Entity) – IND BBB- IND A3 – Stable
Shree Krishna Steels – IND BB IND A4+ – Stable
Shree Nathjee Roller Mills Limited (Shree Bankey Bihari Group Entity) – IND BBB- IND A3 – Stable
Shree Renuka Sugars Limited – IND A+ – – Negative
Shree Sant Kripa Appliances Private Limited – IND BBB- IND A3 – Stable
Shree Sanyeeji Rolling Mills – IND D – – –
Shree Shakambari Ferro Alloys Private Limited – IND BB- - – Stable
Shree Shyam Pulp and Board Mills Limited – IND BBB+ IND A2 – Negative
Shree Tel-Fab Industries Pvt. Ltd (Sri Balmukund Group Entity) – IND BB+ IND A4+ – Stable
Shreem Electric Limited – IND BBB+ IND A2 - Stable
Shrenik Marble Private Limited – IND B+ IND A4 – Stable
Shri Gajanan Oil and Agro Products Industries Private Limited – IND B+ – – Stable
Shri Shri Niwasji Oil Refiners Private Limited – IND B IND A4 – Stable
Shriram EPC Ltd – IND BBB+(suspended) IND A2+(suspended) – –
Shriram Pistons & Rings Limited – IND AA- IND A1+ – Stable
Shrishti Technologies – IND B IND A4 – Stable
Shristi Cotspinn Private Limited – IND B+ IND A4 – Stable
Shyam Telecom Limited – IND BBB- IND A3 – Negative
Sical Distriparks Limited – IND BBB- IND A3 – Stable
Siddhivinayak Poultry Breeding Farm and Hatcheries Pvt Ltd – IND B – – Stable
Simhadri Power Limited – IND B- – – Positive
Singan Projects Ltd – IND D IND D – –
Siva Swathi Constructions Private Limited – IND BB+ IND A4+ – Stable
SK Wheels Private Ltd – IND BB- IND A4+ – Stable
SKC Trading & Building Materials Pvt Ltd - IND BB - - Stable
SMS Infrastructure Limited – IND BB IND A4+ – Stable
SMS Infrastructure Limited (Additional Bank Loans) – IND BB IND A4+ – –
Sogo Computers Private Limited – IND BB- IND A4+ – Stable
Sogo Synergy Pvt Ltd – IND B- IND A4 – Stable
Sona Okegawa Precision Forging Limited – IND BBB IND A3+ – Stable
Sova Power Limited – IND D IND D – –
Sowbhagya Ispat India Private Limited – IND BB- INA A4+ – Stable
Space Matrix Limited – IND A- IND A1 – Stable
Spectra ISP Network Private Limited – IND B+(suspended) – – -
Spectrum Power Generation Ltd – IND B(suspended) – – –
Spencer's Travel Services Limited – IND B+ IND A4 – Stable
SPL Industries Limited – IND BBB-(suspended) IND A3(suspended) – –
Spun Micro-Processing Private Limited – IND B+ IND A4 – Stable
SR Foils and Tissue Ltd – IND BB+ IND A4+ – Stable
SRC 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+ – Stable
Sri Avantika Contractors (I) Ltd – IND BBB- IND A3 – Positive
Sri Balmukund Polyplast Pvt Ltd (Sri Balmukund Group Entity) – IND BB+ IND A4+ – Stable
Sri Gayatri Minerals Pvt. Ltd – IND BBB- IND A3 – Stable
Sri Gopikrishna Infrastructure Private Limited – IND BB+ IND A4+ – Stable
Sri Kaliswari Metal Powders Private Limited – IND BB+(SO) IND A4+(SO) – Stable
Sri Langta Baba Steels Pvt. Ltd. – IND BB- – – Stable
Sri Power Generation (India) Pvt Ltd – IND BB IND A4+ – Stable
Sri Ramnarayan Mills Limited – IND B+ IND A4 – Stable
Sri Vaaru Metallurgicals Private Limited – IND BB IND A4+ – Stable
Sri Venkateswara Modern Rice Mills – IND B(suspended) – – –
Sri Venkateswara Theatre – IND D - - -
Sri Vijayalakshmi Cement Traders – IND B IND A4 – Stable
Sri Vijayalakshmi Steel Traders – IND B – – Stable
Srinivasa Construction Corporation Private Limited – IND BB IND A4+ – Stable
Sripathi Paper and Boards Private Limited – IND BBB IND A3+ – Negative
SRS Modern Sales Ltd. – IND BB- IND A4+ – Negative
Stargaze Entertainment Private Limited – IND BB- – – Negative
Stationery Point India Limited – IND BB IND A4+ – Stable
Steel Authority of India Limited – IND AAA IND A1+ IND tAAA Stable
Steel Impex & Industries – – IND A4 – –
Steel Strips Wheels Ltd – IND A- IND A2+ – Negative
Sterling Tools Limited – IND A- IND A2+ – Stable
Sterlite Industries India Limited – IND AA+/ IND AA(exp)+ – – –
Sterlite Industries India Limited (Additional NCD Programme) – IND AA+ - – -
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
Sterlite Industries India Limited (Additional NCD Programme) – IND AA+(exp) - – -
Stork Ferro and Mineral Industries Pvt. Ltd – IND D IND D – –
Strands Textile Mills Pvt. Ltd. – IND B- – – Stable
Strides Arcolab Limited▲ – IND BBB+ – – -
Stru Fabs – IND C IND A4 – –
Suashish Diamonds Limited – IND BBB IND A2 – Stable
Subhlaxmi Syntex Ltd - IND BB- IND A4+ – Stable
Sukhsagar Infotech Pvt. Ltd – IND D IND D – –
Sundaram Textiles Limited – IND BBB- IND A3 – Stable
Sungro Seeds Limited - IND BB IND A4+ – Stable
Sunil Hi-Tech Engineers Limited – IND BBB+ IND A2+ – Stable
Sunny Trexim Pvt. Ltd. – – IND A4 – –
Supersonic Turners Private Limited – IND D(suspended) – – –
Suprajit Engineering Limited – IND A+ IND A1 – Stable
Supreme Infrastructure India Ltd – IND BBB IND A3 – Stable
Supreme Petrochem Limited – IND A IND A1 – Stable
Surina Impex Pvt. Ltd. – IND B+ IND A4 – Stable
Surya Processors Private Limited – IND BB- IND A4+ – Positive
SVS Mookambika Constructions Private Limited – IND BB IND A4+ – Stable
Syrma Technology Private Limited – IND BB+(suspended) IND A4+(suspended) – –
T K International Limited – IND B+ IND A4 – Stable
Talbros Automotive Components Ltd – IND BBB+ IND A2+ – Negative
Talwandi Sabo Power Ltd – IND AA+(SO) – – –
Tamilnadu Waste Management Limited – IND A(SO) IND A1(SO) – –
Tara Aerospace Private Limited – IND A IND A1 – Stable
Target Associates Private Limited – IND B-(suspended) IND A4(suspended) – –
Tata Advanced Systems Limited – IND A IND A1 – Stable
Tata Chemicals Limited – IND AA IND A1+ – Stable
Tata Marcopolo Motors Ltd – IND A IND A1 – Stable
Tata Power Trading Company Limited – IND A- IND A2+ – Stable
Tata Projects Limited – IND AA- IND A1+ – Stable
Tata Steel Limited (Additional Bank Loans) – IND AA IND A1+ – -
Tata Steel Ltd – IND AA IND A1+ – Negative
Tata Teleservices Limited – IND AAA(SO) – – Stable
Tayal Energy Ltd – IND D IND D – –
Tecumseh Products India Private Limited – IND B IND A4 – Stable
Tera Software Limited – IND BBB IND A3+ – Stable
Thangam Steel Limited – IND BB+ IND A4+ – Stable
The Himalaya Drug Company – IND A- IND A1 – Stable
The Tuticorin Spinning Mills Limited – IND B+ IND A4 – Negative
Tijiya Steel Pvt Limited – IND C IND A4 – –
Tirumala Balaji Alloys Pvt. Ltd – IND BBB- IND A3 – Stable
Tirupati Agencies Pvt. Ltd. – IND B- IND A4 – Stable
Tirupati Sugars Limited – IND B – – Stable
Topman Exports Limited – IND BB- IND A4+ – Stable
TPRS Enterprises Private Limited – IND BB+ IND A4+ – Stable
Trading Engineers (International) Limited – IND BBB- IND A3 – Stable
Transworld Furtichem Private Limited – IND BB(suspended) IND A4+(suspended) – –
Tribeni Constructions Limited – IND BB+ IND A4+ – Stable
Tribhovandas Bhimji Zaveri (Delhi) Pvt. Ltd – IND BB+ IND A4+ – Stable
Tristar Retail Ltd – IND BB- IND A4+ – Stable
Tristar Tradelinks Pvt Ltd (Subsidiary of Tristar Retail Ltd) – IND BB- IND A4+ – Stable
Triveni Engicons Private Limited – IND BB+ IND A4+ – Stable
TSS Projects and Industries Pvt Ltd – IND BB- IND A4+ – Stable
Tulip Telecom Ltd – IND D – – –
Tulsi Castings and Machining Limited – IND BBB- IND A3 – Stable
Tushar Fabrics Pvt Ltd – IND B+ IND A4 – Stable
TVS Srichakra Limited – IND A- IND A2+ – Stable
Ubico Networks Private Limited – IND BB-(suspended) – – –
UEM India Private Limited – IND BBB IND A3+ – Stable
UFLEX Limited – IND BBB IND A2 – Positive
Ultimate Flexipack Limited – IND BBB IND A3+ – Stable
Ultra Drugs Pvt Ltd – IND D – – –
Uniphos International Limited – IND BB IND A4+ – Stable
Unitech Machines Limited – IND A- IND A2+ – Negative
Usha Martin Limited – IND A+ IND A1+ – Negative
Uttam Galva Steels Limited – IND A IND A1 – Negative
Uttam Industrial Engineering Limited – IND B+ IND A4 – Stable
Uttam Sucrotech International Private Limited – IND BBB-(suspended) IND A3(suspended) – –
Uttam Sugar Mills Limited
–
IND D
IND D – –
Uttarakhand Jal Vidyut Nigam Limited – IND BBB+ - – Stable
Vakil Housing Development Corporation Private Limited – IND B-(suspended) IND A4(suspended) – –
Vardhman Precision Profiles & Tubes Pvt. Ltd. – IND BB IND A4+ – Negative
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
Variety Prints Pvt Ltd – IND D – – –
Varron Aluminium Pvt Ltd – IND BB- - – Stable
Varron Industries Ltd – IND BB+ IND A4+ – Stable
Vasudha Pharma Chem Limited – IND BBB+ IND A2+ – Positive
Vedanta Aluminium Ltd▲
–
IND A-
IND A2+ – –
Vedanta Aluminium Ltd▲ – IND AA(SO) – – –
Vega Entertainment Private Limited – IND BB - – Stable
Vicky Realtors – IND BB+ – – Stable
Vijai Bhavani Power Tech Pvt Ltd – IND BB- IND A4+ – Stable
Vijay Deep Silk Mills Pvt Ltd – IND BB- IND A4+ – Stable
Vikas Telecom Limited – IND D(suspended) – – –
Vikhroli Corporate Park Private Limited – IND BBB+ – – Stable
Vikrant Forge Limited – IND BB-(suspended) IND A4+(suspended) – –
Vinayak Hatcheries – IND B- IND A4 – Stable
Vinir Engineering – IND BBB- IND A3 – Stable
Visakha Trades – IND B+ IND A4 – Negative
Visen Industries Limited – IND BBB+ IND A2+ – Stable
Vishnu Chemicals Limited – IND D – – –
VPR Mining Infrastructure Private Limited – IND BBB- IND A3 – Stable
Vraj Packaging Private Limited – IND BB+ IND A4+ – Stable
VSP Udyog Private Limited – IND BB+ IND A4+ – Stable
WABCO India Limited (formerly WABCO-TVS (India) Limited – IND AA+ IND A1+ – Stable
Wavetronic Solutions Private Limite – IND BBB- - – Stable
Wearit Global Ltd. – IND B- IND A4 – Stable
Welcome Distilleries Pvt Limited – IND BB – – Stable
Welspun Global Brands Limited – IND A- IND A2+ – Stable
West Bengal State Electricity Transmission Company Limited – IND A/IND A(exp) IND A1 – Stable
Win Medicare Private Limited – IND BBB IND A2 – Stable
Winner Nippon Electronics Ltd. – IND B+ IND A4 – Stable
Winsome International Limited – IND BB+ IND A4+ – Stable
Worldwide Tradelinks – IND B IND A4 – Stable
XPRO India Limited – IND BBB IND A2 – Stable
Yashasvi Yarns Limited – IND BB- IND A4+ – Stable
Yashoda Super Specialty Hospital – IND BBB+ – – Stable
YKM Entertainment & Hotels Pvt Ltd – IND B – – Stable
YM Drugs & Chemicals (P) Ltd – IND D – – –
Zee Knits & Weavers Private Limited – IND BB- IND A4+ – Stable
ZF Electronics TVS (India) Private Limited – IND BBB- IND A3 – Stable
Zion Steel Limited – IND B(suspended) – – –
Issuer Term
GIG Rating Term Term Deposits
A.J. Tolls Private Limited
– IND A(suspended)/ IND
BBB+(suspended)/ IND
BBB(suspended)
– – –
Andhra Pradesh Expressway Limited – IND AAA(SO)(exp) INDA1+(SO)(exp) – Stable
Bajaj Energy Private Ltd – IND BBB/IND BBB(exp) – – Negative
Bijapur Hungund Tollway Private Limited – IND BBB- – – Stable
Chenani Nashri Tunnelway Limited – IND BBB+ – – Stable
Chennai Water Desalination Ltd – IND BBB- – – Negative
Coastal Oil and Gas Infrastructure Private Ltd – IND C – – -
Corporate Power Ltd (senior project bank loans) – IND BBB- – – –
Corporate Power Ltd (senior project bank loans) – IND BBB- – – –
Corporate Power Ltd (subordinate project bank loans) – IND BB+ – – –
Ennore Tank Terminal – IND BBB+ – – Stable
GVNS Tollways – IND BBB – – Stable
GVRMP Dharwad Ramanagar Tollways Private Ltd – IND BBB+ – – Stable
GVRMP Waghdhari Ribbanpally Tollway Private Limited – IND BB+ – – Negative
HKR Roadways Limited – IND BB+ – – Negative
IDAA Infrastructure Private Limited – IND BBB+ – – Stable
Ideal Energy Projects Limited – IND BB- – – Negative
iEnergy Wind Farms (Theni) Pvt. Ltd – IND B- – – Stable
Indore Dewas Tollways Limited – IND BBB- – – Negative
Inland Power Limited – IND BB - – Stable
IRB Ahmedabad Vadodara Super Express Tollway Private Limited – IND BBB- - – Stable
IRB Jaipur Deoli Tollway Private Limited – IND BBB- – – Stable
IRB Kolhapur Integrated Road Development Company Private Ltd – IND A-(SO) – – Stable
IRB Pathankot Amritsar Toll Road Private Limited – IND BBB- – – Stable
IRB Surat-Dahisar Tollway Private Limited – IND BBB – – Negative
IRB Talegaon Amravati Tollway Private Limited – IND BBB- – – Stable
Ircon Soma Tollways Private Limited▲ IND BBB- – – –
IVRCL Indore Gujarat Tollways Limited – IND BBB – – Stable
Jalandhar Amritsar Tollways Limited▼ – IND B- – – -
Jhajjar Power Ltd – IND BBB – – Stable
Jharkhand Road Project Implementation Company Ltd-Chaibasa-Kandra-
Chowka
–
IND BBB-
– – Stable
Jindal India Thermal Power Ltd (Long Term Project Bank loans – Phase I, II &
III)▼ IND BB+
-
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
Jindal India Thermal Power Ltd (Senior ECB Phase I & II)▼ – IND BB+ – – -
Jindal India Thermal Power Ltd (Subordinated Debt Phase I, II & III)▼ IND BB -
Jorbat Shillong Expressway Limited – IND BBB+ – – Stable
Karaikal Port Private Limited – IND C IND A4 – -
Kumarapalayam Tollways Ltd – IND B- – – Negative
L&T Samakhiali Gandhidham Tollway Private Limited – IND BBB – – Negative
LVS Power Ltd – IND BBB – – Stable
Maithon Power Limited – IND A – – Stable
Maithon Power Limited – IND A-(exp) – – Stable
Meenakshi Energy Private Limited – IND D – – –
MEP Infrastructure Private Limited – IND BBB-(suspended) – – –
Mhaiskar Infrastructure Private Limited – IND AA- – – Stable
Monnet Power Company Ltd – IND BBB- – – Stable
Mumbai 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)
–
IND BBB+
– – Stable
Mumbai International Airport Private Limited (INR 6.2 bn Non-Fund Based
Working Capital)
–
IND BBB+
– – Stable
Mumbai International Airport Private Limited (INR21.44bn New Loan) – IND BBB+ – – Stable
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- – – Stable
NCC Power Projects Ltd – IND BBB- – – Stable
North Karnataka Expressways Ltd – IND AAA(SO) – – Stable
Oriental Pathways (Nagpur) Private Limited – IND BB+ – – Stable
Patna Bakhtiyarpur Tollway Limited – IND BB+ - – Stable
Raichur Power Corporation Limited – IND BBB- - – Stable
Rayalaseema Expressway Private Limited – IND BB - – Stable
Redan Infrastructure Private Limited – IND B+ – – Stable
Salem Tollways Limited – IND B- – – Negative
Sathyam Power Private Limited – IND D – – –
SEW Bellary Highways Limited – IND BBB+ – – Stable
SEW-Navayuga Barwani Tollways Private Ltd (Senior Bank Loans) – IND BBB- – – Positive
SEW-Navayuga Barwani Tollways Private Ltd (Subordinated Bank Loans) – IND BB+ – – Positive
Supreme Ahmednagar Karmala Tembhurni Tollways Private Limited – IND BBB- – – Stable
Supreme Infraproject Private Limited – IND BB+ – – Stable
Supreme Kopargaon Ahmednagar Tollways Pvt. Ltd – IND BB+ - – Stable
Supreme Panvel Indapur Tollways Private Limited – IND BBB- – – Stable
Supreme Suyog Funicular Ropeways Private Ltd - IND BB+ - - Stable
SV Power Ltd. – IND D – – –
Transstroy Krishnagiri-Tindivanam Highways Pvt Ltd – IND BBB- – – Stable
Transstroy Tirupati Tiruthani Chennai Tollways Private Limited – IND BB+ – – Positive
Transtech Green Power Pvt Ltd – IND D – – –
Trichy Tollway Private Limited
–
IND BBB-
– – Stable
Unity IVRCL JV – IND BBB- – – Stable
India National Ratings - Selected CoverageFebruary 2013
Issuer Long Short Term Outlook
Financial Institutions Rating Term Term Deposits
ACE Finlease Private Limited – IND BB - – Stable
Allahabad Bank – IND AA – – Stable
Andhra Bank – IND AA IND A1+ tAA+ Stable
Andhra Bank – IND AA+ (Lower Tier 2) – – Negative
AXIS Bank – IND AAA – – Stable
AXIS Bank – IND AA+ (Tier 1 & Upper Tier 2)– – Stable
Banc of America Securities (India) Private Limited – – IND A1+ – –
Bank of Baroda – IND AAA IND A1+ tAAA Stable
Bank of Tokyo-Mitsubishi UFJ – IND A1+ – –
Barclays Bank PLC India Branch – – IND A1+ – –
BSS Microfinance Private Limited – IND BBB-(suspended) – – –
Canara Bank IND AAA – – Stable
Catholic Syrian Bank (The) – IND BBB – – Stable
Cholamandalam Investment and Finance Company Limited – IND AA- – – Stable
Citibank NA – India Branch – IND A1+ – –
City Union Bank Limited – IND A – – Stable
Daimler Financial Services India Private Limited – IND AAA IND A1+ – Stable
Dena Bank – IND AA- IND A1+ – Stable
Dena Bank – IND AA- (Lower Tier 2) – – Stable
Dena Bank – IND A- (Tier 1& Upper Tier 2)– – Positive
Dhanlaxmi Bank Limited, The▼ – IND BBB- – – –
DSP Merrill Lynch Capital Limited – IND AAA IND A1+ – Stable
DSP Merrill Lynch Capital Limited – IND AAA(emr) – – –
Enam Finance Private Limited - - IND A1+ - -
Export Import Bank of India (EXIM) – IND AAA – – Stable
Federal Bank Limited – IND AA- – – Stable
Fullerton India Credit Company Limited (Formerly First India Credit) – IND AA+ IND A1+ – Stable
GE Capital Services India – IND AAA IND A1+ – Stable
Goldman Sachs (India) Finance Pvt. Ltd. – IND AAA IND A1+ – Stable
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
Goldman Sachs (India) Finance Pvt. Ltd. – IND AAAemr – – –
Goldman Sachs India Capital Markets Pvt. Ltd. – – IND A1+ – –
HDFC Bank Limited – IND AAA IND A1+ – Stable
HDFC Bank Limited – IND AAA(Lower Tier 2) – – Stable
Housing and Urban Development Corporation Limited (HUDCO) IND AA+ IND AA+ IND A1+ – Stable
Housing and Urban Development Corporation Limited IND AA+ IND AAA(SO) IND A1+ tAAA(SO) Stable
IDBI Bank Ltd – IND AA+ IND A1+ tAAA Stable
IDBI Bank Ltd – IND AA-(Upper Tier 2) – – Stable
IDBI Bank Ltd IND AA+(Lower Tier 2) – – Stable
IL&FS Financial Services Ltd. – IND AAA (lower tier 2) IND A1+ – Stable
India Infrastructure Finance Company Limited (INR100bn - Series I 2008–09) IND AAA(SO) – – –
India Infrastructure Finance Company Limited (INR2bn - Series I 2007–08) – IND AAA(SO) – – –
India Infrastructure Finance Company Limited (INR4bn- Series I and II 2008–09)– IND AAA(SO) – – –
Indian Bank – IND AA+ IND A1+ – Stable
IndusInd Bank Limited – IND AA- IND A1+ – Stable
IndusInd Bank Limited – IND A (upper tier 2) – – Stable
Infrastructure Development Finance Company Limited – IND AAA – – Stable
Infrastructure Leasing & Financial Services Ltd. – IND AAA IND A1+ – Stable
ING Vysya Bank Limited – IND AA- – – Stable
Investsmart Financial Services Ltd – IND AAA IND A1+ – Stable
Jammu and Kashmir Bank – IND AA – – Stable
Kotak Mahindra Bank Limited – IND AA (Upper Tier 2) – – Stable
Kotak Mahindra Bank Limited – IND AA+ IND A1+ – Stable
Lakshmi Vilas Bank – IND BBB+ IND A2+ – Negative
Macquarie Finance (India) Private Limited – IND AAA IND A1+ – Stable
Macquarie Finance (India) Private Limited – IND AAA(emr) IND A1+(emr) – Stable
Mahindra & Mahindra Financial Services Limited – IND AA+ – – Stable
Morgan Stanley India Capital Private Limited – IND AAA IND A1+ – Stable
Morgan Stanley India Company Pvt. Ltd – – IND A1+ – –
National Housing Bank – IND AAA IND A1+ – Stable
National Trust Housing Finance Limited – IND BBB- – – Positive
Nomura Capital (India) Private Limited – IND AAA IND A1+ – Stable
Nomura Capital (India) Private Limited – IND AAA(emr) – – Stable
Nomura Fixed Income Securities Private Limited – – IND A1+ – –
OAIS Auto Finance Services Ltd – IND A+ IND A1+ – Stable
Punjab National Bank – IND AAA IND A1+ – Stable
RBS Financial Services (India) Private Limited – IND AAA IND A1+ – Stable
Religare Enterprises Limited - IND AA- - - Negative
Religare Finvest Limited – IND AA- – – Negative
Shriram City Union Finance Limited – IND AA- IND A1+ tAA- Positive
Shriram Transport Finance Co. Ltd. – IND AA IND A1+ tAA- Stable
South Indian Bank Limited – IND A+ – – Stable
State Bank of India – IND AAA – – Stable
Sundaram Finance Limited – IND AA+ IND A1+ – Stable
Swadhaar FinServe Pvt. Ltd – IND BB- – – Stable
The Hongkong and Shanghai Banking Corporation Ltd – IND A1+ – –
UCO Bank – IND AA – – Stable
UCO Bank – IND A- (Tier 1 & Upper Tier 2)– – Negative
Union Bank of India – IND AA+ – – Stable
Union Bank of India – IND AA (Tier 1 & Upper Tier 2)– – Stable
Vijaya Bank – IND AA- – – Stable
Vijaya Bank – IND A- (UpperTier 2) – – Stable
Volkswagen Finance Private Limited – IND AAA IND A1+ – Stable
India National Ratings - Selected CoverageFebruary 2013
Issuer Long Short Term Outlook
Public Finance Rating Term Term Deposits
Agartala Municipal Council IND BB- – – – Stable
Amrita Sai Educational Improvement Trust – IND BB – – –
Andhra Pradesh State Finance Corporation – IND BBB+ – – Stable
Andhra Pradesh State Financial Corporation (Series VI-2013) - IND A(SO)(exp) - - -
Andhra Pradesh State Financial Corporation (APSFC) INR1,000m Series III-
2008
– IND A(SO) – – Stable
Andhra Pradesh State Financial Corporation (APSFC) INR1,210m Series IV-
2009
– IND A(SO) – – Stable
Andhra Pradesh State Financial Corporation (APSFC) INR1,500m Series II-
2008
– IND A(SO) – – Stable
Andhra Pradesh State Financial Corporation (APSFC) INR2000m Series V -
2012
– IND A(SO) – – –
Bhopal Municipal Corporation IND BBB- – – – Stable
GRIDCO Limited - IND A-(SO)(exp) - - -
Guwahati Municipal Corporation IND BB – – – Stable
Hyderabad Educational Institutions Private Limited - IND D - -
Imphal Municipal Council IND B-(suspended) – – – –
Jaipur Municipal Corporation IND BBB+ – – – Stable
Kalinga Institute of Industrial Technology – IND BBB- – – Stable
Karnataka Cooperative Milk Producers Federation - IND A/IND A(exp) - - -
Karnataka State Financial Corporation (INR1bn, 2009) – IND AA-(SO) – – Stable
Karnataka State Financial Corporation (INR3bn 2006) – IND AA-(SO) – – Stable
Karnataka State Industrial Investment & Development Corporation (INR3bn) – IND AA-(SO) – – Stable
Kohima Municipal Council IND B – – – –
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
Krishna Bhagya Jala Nigam Limited – IND AA-(SO) – – –
Kulgaon Badlapur Municipal Council IND BB+ – – Stable
Kunj Behari Lal Charitable Trust – IND BB IND A4+ – –
Maharashtra Jeevan Pradhikaran – (INR 2.011bnSeries XI) – IND A(SO) – – Stable
Maharashtra Jeevan Pradhikaran – (INR5.842Series XII) – IND A(SO) – – Stable
Maharashtra Patbandhare Vittiya Company Limited - Series III (INR5bn) – IND A(SO) – – Stable
Maharashtra Patbandhare Vittiya Company Limited (MPVC) - Series IV
I(NR505m)
– IND A(SO) – – Stable
Maharashtra Patbandhare Vittiya Company Limited (MPVC)-Series II
(INR314.4m)
– IND A(SO) – – Stable
Manav Vikas Evam Seva Sansthan – IND D – – –
Meghalaya Energy Corporation Limited (formerly Meghalaya State Electricity
Board)(INR1,200m)
–
IND BBB+(SO)
– – Stable
Meghalaya Energy Corporation Limited formerly Meghalaya State Electricity
Board) (INR500m)
–
IND BBB+(SO)
– – Stable
Municipal Board of Shillong IND B+ – – – Stable
Nagpur Municipal Corporation – (INR217m) – IND AA(SO) – – Stable
Narayana Educational Society – IND A- – – –
National Capital Region Planning Board – IND AAA – – Stable
National Capital Region Planning Board — (INR2bn) – IND AAA – – Stable
National Highways Authority of India – IND AAA – – Stable
National Highways Authority of India — (INR11.5363bn) – IND AAA – – –
National Highways Authority of India — (INR21.6011bn) – IND AAA – – –
National Highways Authority of India — (INR25bn) – IND AAA – – –
National Highways Authority of India — (INR30bn) – IND AAA – – –
National Highways Authority of India — (Tax Free INR100bn) – IND AAA – – –
National Seeds Corporation Limited – IND AA – – –
New Delhi Municipal Council IND AA – – – Stable
Pimpri Chinchwad Municipal Corporation IND AA- – – – Positive
Punjab State Cooperative Milk Producers Federation Limited – IND BBB IND A2 – Stable
Raipur Development Authority - IND BBB+ - - Stable
Rathnavel Subramaniam Educational Trust – IND BBB- – – Stable
Sreenidhi University – IND D – – –
St.Mary’s Educational Society - IND B- - - -
Subedar Raj Devi Educational Trust – IND D – – –
Tamil Nadu Generation and Distribution Corporation - INR4bn TNEB Series 2,
2008-09 bonds
– IND A(SO) – – –
Tamil Nadu Generation and Distribution Corporation Limited – IND A(SO) (exp) - – -
Tamil Nadu Road Development Company Ltd (TNRDC) – IND A+(SO)(suspended) – – –
Tamil Nadu Transmission Corporation - INR3.19bn TNEB Series 4, 2009-10
bonds
– IND A-(SO) – – –
Tamil Nadu Transmission Corporation - INR2bn TNEB Series 1, 2008-09
– IND A(SO) – – –
Tamil Nadu Transmission Corporation - INR2bn TNEB Series 3, 2009-10
bonds– IND A(SO) – – –
Tamil Nadu Transmission Corporation - INR4.81bn TNEB Series 2, 2009-10
– IND A-(SO) – – –
The Mysore Paper Mills Ltd (INR 350mn bond issue) – IND AA-(SO) – – Stable
The Mysore Paper Mills Ltd (INR 500mn bond issue) – IND AA-(SO)(exp) – – Stable
The Umrao Institute of Medical Science & Research
– IND B(suspended) IND A4(suspended) – –
Water and Sanitation Pooled Fund (INR 510m Proposed Bonds - Master
Finance Indenture)
– IND AA(SO)(exp) - – -
Water and Sanitation Pooled Fund (INR1,020m proposed senior debt MFI)
– IND AA(SO)(exp) – – –
Water and Sanitation Pooled Fund (INR450m PFDF enhanced Issue II 2007)
– IND AA(SO) – – Stable
Water and Sanitation Pooled Fund (INR831.9m PFDF enhanced Issue II
2009) – IND AA(SO) – – –
Water and Sanitation Pooled Fund(INR304.1m Issue I 2002) – IND AA(SO) – – Stable
West Bengal Infrastructure Development Finance Corporation Ltd (WBIDFC)
(Series 2004-05)
– IND A-(SO) – – Stable
West Bengal Infrastructure Development Finance Corporation Ltd (WBIDFC)
(Series 2005-06)
– IND A-(SO) – – Stable
West Bengal Infrastructure Development Finance Corporation Ltd (WBIDFC)
(Series 2007-08)
– IND A-(SO) – – Stable
Structured Finance
Residential Mortgage-Backed Security (RMBS)
Citibank Royal Trust June 2004 – IND AAA(SO) – – Stable
HDFC DA December 2010 – I (Purchaser Payouts) – IND AAA(SO) – – Stable
HDFC DA December 2010 – I (Second Loss Credit Facility) – IND BBB(SO) – – Stable
HDFC DA December 2010 – II (Purchaser Payouts) – IND AAA(SO) – – Stable
HDFC DA December 2010 – II (Second Loss Credit Facility) – IND BBB(SO) – – Stable
HDFC DA December 2010 – III (Purchaser Payouts) – IND AAA(SO) – – Stable
HDFC DA December 2010 – III (Second Loss Credit Facility) – IND BBB(SO) – – Stable
HDFC DA July 2011-I (Purchaser Payouts) – IND AAA(SO) – – Stable
HDFC DA July 2011-I (Second Loss Credit Facility) – IND BBB+(SO) – – Stable
HDFC DA July 2011-II (Purchaser Payouts) – IND AAA(SO) – – Stable
HDFC DA July 2011-II (Second Loss Credit Facility) – IND BBB(SO) – – Stable
HDFC DA July 2011-III (Purchaser Payouts) – IND AAA(SO) – – Stable
HDFC DA July 2011-III (Second Loss Credit Facility) – IND BBB(SO) – – Stable
HDFC DA June10 -I (Purchaser Payouts) – IND AAA(SO) – – Stable
HDFC DA June10 -I (Second Loss Credit Facility) – IND A+(SO) – – Stable
HDFC DA June10 -II (Purchaser Payouts) – IND AAA(SO) – – Stable
HDFC DA June10 -II (Second Loss Credit Facility) – IND A+(SO) – – Stable
HDFC DA June10 -III (Purchaser Payouts) – IND AAA(SO) – – Stable
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
HDFC DA June10 -III (Second Loss Credit Facility) – IND A(SO) – – Stable
HDFC DA Non-PSL Nov 09 – IND AAA(SO) – – Stable
HDFC DA Non-PSL Nov 09 (Second Loss Credit Facility) – IND AA-(SO) – – Stable
HDFC DA PSL Nov 09 – IND AAA(SO) – – Stable
HDFC DA PSL Nov 09 (Second Loss Credit Facility) – IND A+(SO) – – Stable
HDFC: MBS 2006 Series II Trust (Class A1) – IND AAA(SO) – – Stable
HDFC: MBS 2006 Series II Trust (Class A2) – IND AAA(SO) – – Stable
HDFC: MBS 2006 Series III Trust (Class A1) – IND AAA(SO) – – Stable
HDFC: MBS 2006 Series III Trust (Class A2) – IND AAA(SO) – – Stable
HDFC's Direct Assignment Residential Mortgages-March 09 (INR9637.7m)
–
IND AAA(SO)
– – Stable
HDFC's Direct Assignment Residential Mortgages-March 09 (INR9690m) – IND AAA(SO) – – Stable
Indian RMBS Trust Series VIII (Series A) – IND AAA(SO) – – Stable
Nivas Trust II ( Series A) – IND AAA(SO) – – Stable
Royal Trust July 2004 – IND AAA(SO) – – Stable
Royal Trust May 2004 (Series A2) – IND AAA(SO) – – Stable
Asset-Backed Security (ABS)
Aeon Trust 2012 (second loss credit facility ) – IND AA(SO) – – Stable
Aeon Trust 2012 (Series A) – IND AAA(SO) – – Stable
Aeon Trust 2013 (Series A1) ( PTCs) – IND AAA(SO) – - Stable
Aeon Trust 2013 (Series A2) ( PTCs) – IND AAA(SO) – - Stable
Aeon Trust II 2012 (Second Loss Facility) – IND A(SO) – – Stable
Aeon Trust II 2012 (Series A) – IND AAA(SO) – – Stable
CV Loan Trust 2012 (second loss credit facility) – IND A+(SO) – – Stable
CV Loan Trust 2012 (Series A) – IND AAA(SO) – – Stable
DA Program-Dec 09-1 (Second Loss Credit Facility) – IND AA+(SO) – – Stable
DA Program-Dec09-1 – IND AAA(SO) – – Stable
DA Program-Oct09-1 – IND AAA(SO) – – Stable
DA Program-Oct09-1 (Second Loss Credit Facility) – IND AAA(SO) – – Stable
Fullerton DA CV Dec 2011(purchaser payouts) – IND AAA(SO) – – Stable
Fullerton DA CV Dec 2011(Second Loss Credit Facility) – IND A+(SO) – – Stable
ILSS 1 Trust 2012 (Series B) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A10) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A11) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A12) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A13) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A14) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A15) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A16) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A17) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A18) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A19) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A20) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A21) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A22) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A23) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A24) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A25) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A7) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A8) – IND AAA(SO) – – Stable
India Structured Asset Trust-Series XII (Series A9) – IND AAA(SO) – – Stable
India Vehicle Trust - March 2012 (purchaser payouts) – IND BBB(SO) – – Stable
India Vehicle Trust - March 2012 (Series A) – IND AAA(SO) – – Stable
Indian Receivable Trust February 2013 A (Second Loss Credit Facility) – IND A(SO)(exp) – – Stable
Indian Receivable Trust February 2013 A (Series A) (PTCs) – IND AAA(SO)(exp) – – Stable
Indian Receivable Trust January 2013 A (Second Loss Credit Facility) – IND A(SO)(exp) – Stable
Indian Receivable Trust January 2013 A (Series A) (PTCs) – IND AAA(SO)(exp) – Stable
Indian Receivable Trust January 2013 B (Series A1) (PTCs) – IND AAA(SO)(exp) – Stable
Indian Receivable Trust January 2013 B (Series A2) (PTCs) – IND AAA(SO)(exp) – Stable
Indian Receivable Trust January 2013 B (Series A3) (PTCs) – IND AAA(SO)(exp) – Stable
Indian Receivable Trust January 2013 B (Second Loss Credit Facility) – IND A(SO)(exp) – Stable
IRST 2011 Series - I (Series A10) – IND AAA(SO) – – Stable
IRST 2011 Series - I (Series A2) – IND AAA(SO) – – Stable
IRST 2011 Series - I (Series A3) – IND AAA(SO) – – Stable
IRST 2011 Series - I (Series A6) – IND AAA(SO) – – Stable
IRST 2011 Series - I (Series A7) – IND AAA(SO) – – Stable
IRST 2011 Series - I (Series A9) – IND AAA(SO) – – Stable
Jupiter Trust A Jan 13 (Second Loss Credit Facility) – IND BBB(SO)(exp) – – Stable
Jupiter Trust A Jan 13 (Series A) (PTCs) – IND AA+(SO)(exp) – – Stable
MMFSL DA Dec 2009 - 1 – IND AA+(SO) – – Stable
MMFSL DA Dec 2009 - 2 – IND AA+(SO) – – Stable
MMFSL DA Dec 2010 - 1 – IND AA+(SO) – – Stable
MMFSL DA Dec 2011 (Purchasers Payout) – IND AA+(SO) – – Stable
MMFSL DA Feb 2011-1 – IND AA+(SO)(ind – – Stable
MMFSL DA June 2010 - 1 – IND AA+(SO) – – Stable
MMFSL DA March 2010 – 1 – IND AA+(SO) – – Stable
MMFSL DA March 2012 (purchaser payouts) – IND AA+(SO) – – Stable
MMFSL DA Nov 2011 (Purchasers Payout) – IND AA+(SO) – – Stable
MMFSL DA Sept 2009 – 1 – IND AA+(SO) – – Stable
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
MMFSL DA Sept 2010-1 – IND AA+(SO) – – Stable
Novo IV Trust – Locomotive (Series I) – IND AAA(SO) – – Stable
Novo IV Trust – Locomotive (Series J) – IND AAA(SO) – – Stable
Novo IX Trust-Chassis (Liquidity Facility) – IND AAA(SO) – – Stable
Novo IX Trust-Chassis (Second Loss Credit Facility) – IND AAA(SO) – – Stable
Novo IX Trust-Chassis (Series A) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series E) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series F) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series G) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series I) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series J) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series K) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series L) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series M) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series N) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series O) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series P) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series Q) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series R) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series S) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series T) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series U) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series V) – IND AAA(SO) – – Stable
Novo X Trust- Locomotive (Series W) – IND AAA(SO) – – Stable
Novo XI Trust – Chassis (second loss credit facility) – IND BBB(SO) – – Stable
Novo XI Trust – Chassis (Series A) – IND AAA(SO) – – Stable
Platinum Trust 2012 (second loss credit facility) – IND A(SO) – – Stable
Platinum Trust 2012 (Series A) – IND AAA(SO) – – Stable
Platinum Trust 2013 (Series A1) (PTCs) – IND AAA(SO) – – Stable
Platinum Trust 2013 (Series A2) (PTCs) – IND AAA(SO) – – Stable
Platinum Trust 2013 (Series A3) (PTCs) – IND AAA(SO) – – Stable
Platinum Trust Feb 2013 Tranche 2 (Series A) (PTCs) – IND AAA(SO) – – Stable
Platinum Trust March 2013 (Series A) (PTCs) – IND AAA(SO)(exp) – Stable
Privilege Trust Series I (Series A) (PTCs) – IND AAA(SO) – – Stable
Privilege Trust Series – 2 (Series A) (PTCs) – IND AAA(SO)(exp) – – Stable
Privilege Trust Series 4 (Second Loss Credit Facility) – IND BBB(SO)(exp) – Stable
Privilege Trust Series 4 (Series A1) (PTCs) – IND AAA(SO)(exp) – Stable
Privilege Trust Series 4 (Series A2) (PTCs) – IND AAA(SO)(exp) – Stable
Privilege Trust Series 5 (Second Loss Credit Facility) – IND A(SO)(exp) – Stable
Privilege Trust Series 5 (Series A1) (PTCs) – IND AAA(SO)(exp) – Stable
Privilege Trust Series 5 (Series A2) (PTCs) – IND AAA(SO)(exp) – Stable
Sansar CV Trust Mar 2013 IV (Series A1) (PTCs) – IND BBB(SO)(exp) – Stable
Sansar CV Trust Mar 2013 IV (Series A2) (PTCs) – IND BBB(SO)(exp) – Stable
Sansar Trust March 2013- I (Second Loss Credit Facility) – IND A(SO)(exp) – Stable
Sansar Trust March 2013- I (Series A1) (PTCs) – IND AAA(SO)(exp) – Stable
Sansar Trust March 2013- I (Series A2) (PTCs) – IND AAA(SO)(exp) – Stable
Sansar Trust March 2013 III (Second Loss Credit Facility) – IND A(SO)(exp) – Stable
Sansar Trust March 2013 III (Series A) (PTCs) – IND AAA(SO)(exp) – Stable
SBI Capital Protection Oriented Fund (Series III) – IND AAA(SO) – -
SCUF - DA Program Sept 2010 – 01 (purchaser payouts) – IND AAA(SO) – – Stable
SCUF DA Mar 2011- 01 (purchaser payouts) – IND AAA(SO) – – Stable
SCUF DA Mar 2012-01 (purchaser payouts) – IND AAA(SO) – – Stable
SCUF DA Mar 2012-02 (purchaser payouts) – IND AAA(SO) – – Stable
SCUF DA Mar 2012-03 (purchaser payouts) – IND AAA(SO) – – Stable
SCUF DA Sep 2011- 01 (Purchaser Payouts) – IND AAA(SO) – – Stable
SCUF DA Sep 2011- 02 (purchaser payouts) – IND AAA(SO) – – Stable
SCUF DA Sep 2011- 02 (Purchaser Payouts) – IND AAA(SO) – – Stable
SCUF EF Trust Dec’12 Series - I (Series A) (PTCs) – IND AAA(SO) – – Stable
SCUF-UCO DA Dec 2011 (purchaser payouts) – IND AAA(SO) – – Stable
SEFPL DA March 12 – III (purchaser payouts) – IND AAA(SO) – – Stable
SEFPL DA Sep 11 - III (Purchaser Payouts) – IND AAA(SO) – – Stable
SEFPL Direct Assignment Sep 11 - IV (Purchaser Payouts) – IND AAA(SO) – – Stable
SEFPL Direct Assignment Sep' 11 - VI (Purchaser Payouts) – IND AAA(SO) – – Stable
Small Business Trust 2012 (Second Loss Credit Facility) – IND AA(SO) – – Stable
Small Business Trust 2012 (Series A) – IND AAA(SO) – – Stable
Small Business Trust 2013 (Series A1) (PTCs) – IND AAA(SO)(exp) – – Stable
Small Business Trust 2013 (Series A2) (PTCs) – IND AAA(SO)(exp) – – Stable
Small Business Trust 2013 (Series A3) (PTCs) – IND AAA(SO)(exp) – – Stable
Small Business Trust II 2012 (Second Loss Credit Facility) – IND AA(SO) – – Stable
Small Business Trust II 2012 (Series A) – IND AAA(SO) – – Stable
Small Operators Trust 2011 (Second Loss Credit Facility) – IND BBB(SO) – – Stable
Small Operators Trust 2011 (Series A1) – IND AAA(SO) – – Stable
Small Operators Trust 2011 (Series A2) – IND AAA(SO) – – –
Small Operators Trust 2012 (Second loss credit facility) – IND BBB(SO) – – Stable
Small Operators Trust 2012 (Series A1) – IND AAA(SO) – – Stable
Small Operators Trust 2012 (Series A2) – IND AAA(SO) – – Stable
Small Operators Trust 2013 (Second Loss Credit Facility) – IND A+(SO) – – Stable
Small Operators Trust 2013 (Series A1) (PTCs) – IND AAA(SO) – – Stable
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
Small Operators Trust 2013 (Series A2) (PTCs) – IND AAA(SO) – – Stable
Small Operators Trust 2013 (Series A3) (PTCs) – IND AAA(SO) – – Stable
Small Operators Trust II 2013 (Second Loss Credit Facility) – IND A+(SO)(exp) – – Stable
Small Operators Trust II 2013 (Series A1) (PTCs) – IND AAA(SO)(exp) – – Stable
Small Operators Trust II 2013 (Series A2) (PTCs) – IND AAA(SO)(exp) – – Stable
Small Operators Trust II 2013 (Series A3) (PTCs) – IND AAA(SO)(exp) – – Stable
SREI - Direct Assignment - Dec 10-I – IND AAA(SO) – – Stable
SREI - Direct Assignment - December 11 - I (Purchaser Payouts) – IND AAA(SO) – – Stable
SREI - Direct Assignment - December 11 - I (Second Loss Credit Facility) – IND BBB(SO) – – Stable
SREI - Direct Assignment - February 12 – I (purchaser payouts) – IND AAA(SO) – – Stable
SREI - Direct Assignment Dec - 10 – II (Purchaser Payouts) – IND AAA(SO) – – Stable
SREI DA August 2011 (Purchaser Payouts) – IND AAA(SO) – – Stable
SREI DA August 2011 (Second Loss Credit Facility) – IND AAA(SO) – – Stable
SREI Direct Assignment - Mar'11 IV (Purchaser Payouts) – IND AAA(SO) – – Stable
SRTO Trust 2012 (second loss credit facility) – IND BBB(SO) – – Stable
SRTO Trust 2012 (Series A) – IND AAA(SO) – – Stable
STFCL - DA Program - Dec 09 – 1 (Purchaser Payouts) – IND AAA(SO) – - Stable
STFCL - DA Program - Dec 09 – 1 (Second Loss Credit Facility) – IND AA+(SO) – - Stable
STFCL CV Trust 2012 (second loss credit facility) – IND BBB(SO) – – Stable
STFCL CV Trust 2012 (Series A) – IND AAA(SO) – – Stable
STFCL CV Trust Dec 12 - I (Second Loss Credit Facility) – IND A(SO) – Stable
STFCL CV Trust Dec 12 - I (Series A1) (PTCs) – IND AAA(SO) – Stable
STFCL CV Trust Dec 12 - I (Series A2) (PTCs) – IND AAA(SO) – Stable
STFCL CV Trust Feb 2013 (Second loss Credit Facility) – IND A(SO)(exp) – – Stable
STFCL CV Trust Feb 2013 (Series A) (PTCs) – IND AAA(SO)(exp) – – Stable
STFCL CV Trust Nov 12 - II (Second Loss Credit Facility) – IND A(SO) – Stable
STFCL CV Trust Nov 12 - II (Series A1) ( PTCs) – IND AAA(SO) – Stable
STFCL CV Trust Nov 12 - II (Series A2) ( PTCs) – IND AAA(SO) – Stable
STFCL DA December 2011-01(Purchaser Payouts) – IND AAA(SO) – – Stable
STFCL DA December 2011-01(Second Loss Credit Facility ) – IND BBB(SO) – – Stable
STFCL DA December 2011-03 (Purchaser Payouts) – IND AAA(SO) – – Stable
STFCL DA December 2011-03 (Second Loss Credit Facility ) – IND BBB(SO) – – Stable
STFCL DA Feb 2011- 04 (liquidity facility) – IND AA(SO) – – Stable
STFCL DA Feb 2011- 04 (Purchaser Payouts) – IND AA(SO) – – Stable
STFCL DA Feb 2011- 04 (Second Loss Credit Facility) – IND A+(SO) – – Stable
STFCL DA Feb 2011-02 (purchaser payouts) – IND AAA (SO) – – Stable
STFCL DA Feb 2011-02 (Second Loss Credit Facility) – IND A+(SO) – – Stable
STFCL DA January 2012-01 (purchaser payouts) – IND AAA(SO) – – Stable
STFCL DA January 2012-01 (second loss credit facility) – IND BBB(SO) – – Stable
STFCL DA June 2011-01 (liquidity facility) – IND AAA(SO) – – Stable
STFCL DA June 2011-01 (Purchaser Payouts) – IND AA(SO) – – Stable
STFCL DA June 2011-01 (Second Loss Credit Facility) – IND AA-(SO) – – Stable
STFCL DA Mar 2011-01 (Purchaser Payouts) – IND AAA(SO) – – Stable
STFCL DA Mar 2011-01 (Second Loss Credit Facility) – IND A(SO) – – StableSTFCL DA Mar 2011-02 (Purchaser Payouts) – IND AAA(SO) – – Stable
STFCL DA Mar 2011-02 (Second Loss Credit Facility) – IND A+(SO) – – Stable
STFCL DA Mar 2011-03 (Purchaser Payouts) – IND AAA(SO) – – Stable
STFCL DA Mar 2011-03 (Second Loss Credit Facility) – IND A+(SO) – – Stable
STFCL DA Mar 2011-04 (Purchaser Payouts) – IND AAA(SO) – – Stable
STFCL DA Mar 2011-04 (Second Loss Credit Facility) – IND A+(SO) – – Stable
STFCL DA March 2012 – 01 (purchaser payouts) – IND AAA(SO) – – Stable
STFCL DA March 2012 – 01 (second loss credit facility) – IND BBB(SO) – – Stable
STFCL DA March 2012 – 02 (purchaser payouts) – IND AAA(SO) – – Stable
STFCL DA March 2012 – 02 (second loss credit facility) – IND BBB(SO) – – Stable
STFCL DA March 2012 – 03 (purchaser payouts) – IND AAA(SO) – – Stable
STFCL DA March 2012 – 03 (purchaser payouts) – IND BBB(SO) – – Stable
STFCL DA Operator Trust Dec 2011 (Second Loss Credit Facility ) – IND A-(SO) – – Stable
STFCL DA Operator Trust Dec 2011 (Series A) – IND AAA(SO) – – Stable
STFCL DA Program - Feb 10 – 4 (Purchaser Payouts) – IND AAA(SO) – – Stable
STFCL DA Program - Feb 10 – 4 (Second Loss Credit Facility) – IND A(SO) – – Stable
STFCL DA Program - Feb 10 – 5 (Purchaser Payouts) – IND AAA(SO) – – Stable
STFCL DA Program - Feb 10 – 5 (Second Loss Credit Facility) – IND A+(SO) – – Stable
STFCL -DA Program - Sept 09 - 1 – IND AAA(SO) – – Stable
STFCL -DA Program - Sept 09 - 1( Second Loss Credit Facility) – IND AAA(SO) – – Stable
STFCL -DA Program - Sept 09 - 2 – IND AAA(SO) – – Stable
STFCL -DA Program - Sept 09 - 2( Second Loss Credit Facility) – IND AAA(SO) – – Stable
STFCL -DA Program - Sept 09 - 3( Second Loss Credit Facility) – IND AAA(SO) – – Stable
STFCL -DA Program - Sept 09 -3 – IND AAA(SO) – – Stable
STFCL DA Program- Feb 10 - 1 (Second Loss Credit Facility) – IND A+(SO) – – Stable
STFCL DA Program- Feb 10 - 2 (Second Loss Credit Facility) – IND A+(SO) – – Stable
STFCL DA Program- Feb 10 - 3 (Second Loss Credit Facility) – IND AA+(SO) – – Stable
STFCL DA Program-Dec09-2 (liquidity facility) – IND AAA(SO) – – Stable
STFCL DA Program-Dec09-2 (lPurchasers Payout) – IND AAA(SO) – – Stable
STFCL DA Program-Dec09-2 (Second Loss Credit Facility) – IND AAA(SO) – – Stable
STFCL DA Program-Feb 10 - 1 (liquidity facility) – IND AAA(SO) – – Stable
STFCL DA Program-Feb 10 - 1 (Purchaser Payouts) – IND AAA(SO) – – Stable
STFCL DA Program-Feb 10 - 2 (liquidity facility) – IND AAA(SO) – – Stable
STFCL DA Program-Feb 10 - 2 (Purchaser Payouts) – IND AAA(SO) – – Stable
STFCL DA Program-Feb 10 - 3 (liquidity facility) – IND AAA(SO) – – Stable
STFCL DA Program-Feb 10 -3 (Purchaser Payouts) – IND AAA(SO) – – Stable
STFCL DA Sep 2011 - 01(Purchaser Payouts) – IND AAA(SO) – – Stable
STFCL DA Sep 2011 - 01(Second Loss Credit Facility ) – IND A(SO) – – Stable
STFCLs New CV - Dec 08 Assignment – IND AAA(SO) – – Stable
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
Asset Management Goldman Sachs Liquid Exchange Traded Scheme (Previously Benchmark
Liquid BeES Fund)
–
IND A1+mfs
– – –
IDFC Ultra - Short Term Fund – IND AAAmfs IND V1 – RWN
JP Morgan India Capital Protection Oriented Fund – IND AAA(SO) – – –
LIC Nomura MF Income Plus Fund (previously LIC MF Income Plus Fund) – IND AAAmfs IND V1 – –
LICMF Liquid Fund – IND A1+mfs – – –
SBI Capital Protection Oriented Fund-Series III Fund – IND AAA(SO)(exp) – – –
UTI Floating Rate Fund (Short Term Plan) – IND AAAmfs IND V1 – –
UTI Liquid Fund (Cash Plan) – IND A1+mfs – – –
UTI Money Market Mutual Fund – IND A1+mfs – – –
India National Ratings - Selected Coverage (cont'd)February 2013
Legend*Bold type denotes a new rating
(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
India Ratings and Research www.indiaratings.co.in As on 31 March 2013
India National Ratings - Selected Coverage (cont'd)February 2013
Contact List
India Ratings - Analysts Telephone #
Aashish Bhusnurmath AB Delhi aashish.bhusnurmath@indiaratings.co.in 91 22 4356 7252
Abhinav Goel AG Delhi abhinav.goel@indiaratings.co.in 91 11 4356 7230
Amey Joshi AJ Mumbai amey.joshi@indiaratings.co.in 91 22 4000 1794
Amit More AM Mumbai amit.more@indiaratings.co.in 91 22 4000 1703
Ananda Bhoumik AB Mumbai ananda.bhoumik@indiaratings.co.in 91 22 4000 1720
Arvind Rana AR Mumbai arvindia.rana@indiaratings.co.in 91 22 4000 1719
Ashish Upadhyay AU Delhi ashish.upadhyay@indiaratings.co.in 91 11 4165 7230
Ashoo Mishra AM Mumbai ashoo.mishra@indiaratings.co.in 91 22 4000 1700
Ashwini Picardo AP Mumbai ashwini.picardo@indiaratings.co.in 91 22 4000 1787
Avinash Lodha AL Chennai avinash.lodha@indiaratings.co.in 91 44 4340 1722
Carrol D'Silva CD Mumbai carrol.dsilva@indiaratings.co.in 91 22 4000 1731
Chandan Sharma CS Delhi chandan.sharma@indiaratings.co.in 91 11 4356 7230
Cyrus Dadabhoy CD Mumbai cyrus.dadabhoy@indiaratings.co.in 91 22 4000 1700
Chintan Lakhani CL Mumbai chintan.lakhani@indiaratings.co.in 91 22 4000 1790
Deep Mukherjee DM Mumbai deep.mukherjee@indiaratings.co.in 91 22 4000 1721
Devendra Pant DP Delhi devendra.pant@indiaratings.co.in 91 11 4356 7230
Ehsan Syed ES Mumbai ehsan.syed@indiaratings.co.in 91 22 4000 1700
G. Siva Subramanian GS Chennai siva.subramanian@indiaratings.co.in 91 44 4340 1700
Janhavi Prabhu JP Mumbai janhavi.prabhu@indiaratings.co.in 91 22 4000 1754
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Ridhima Singhal RS Delhi ridhima.singhal@indiaratings.co.in 91 11 4356 7246
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Rupesh Kumar Singh RS Mumbai rupesh.singh@indiaratings.co.in 91 22 4000 1791
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Sahil Aggarwal SA Delhi sahil.aggarwal@indiaratings.co.in 91 11 4356 7230
Salil Garg SG Delhi salil.garg@indiaratings.co.in 91 11 41657230
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Shyam Sundar SS Chennai shyam.sundar@indiaratings.co.in 91 44 4340 1710
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Sriram Parthasarthy SP Mumbai sriram.parthasarthy@indiaratings.co.in 91 44 4340 1700
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Tanu Sharma TS Delhi tanu.sharma@indiaratings.co.in 91 11 4165 7230
Tarun Kumar TK Mumbai tarun.kumar@indiaratings.co.in 91 11 4000 1713
Vinay Betala VB Kolkata vinay.betala@indiaratings.co.in 91 44 4340 1700
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India Ratings & Research Private Limited
Country Head Atul Joshi Mumbai atul.joshi@indiaratings.co.in 91 22 4000 1750
Business & Relationship Management Group, Asia-Pacific
Group Head Tarun Bansal Delhi tarun.bansal@indiaratings.co.in 91 11 4165 7230
Director & Head of East India Krishnendu Sarkar Kolkata krishnendu.sarkar@indiaratings.co.in 91 33 2282 8375
Director & Head of West India Rajshekhar Kalluri Mumbai rajshekhar.kalluri@indiaratings.co.in 91 22 4000 1784
Director & Head of Andhra Pradesh & Karnataka Suryanarayana ManginaHyderabad suryanarayana.mangina@indiaratings.co.in 91 40 4025 8885
Director & Head of North India Akash Sharma Delhi akash.sharma@indiaratings.co.in 91 11 4165 7230
Associate Director Anamika Karati Delhi anamika.karati@indiaratings.co.in 91 11 4165 7230
Associate Director Aishwarya Vinay KumarMumbai aishwarya.vinaykumar@indiaratings.co.in 91 22 4000 1788
Associate Director Santosh DhamapurkarMumbai santosh.dhamapurkar@indiaratings.co.in 91 22 4000 1718
Associate Director Srinivas MR Chennai srinivas.mr@indiaratings.co.in 91 44 4340 1716
Associate Director Prasanth Chegu Bangalore prasanth.chegu@indiaratings.co.in 91 80 42066191
Senior Associate Arnab Chanda Kolkata arnab.chanda@indiaratings.co.in 91 33 4003 1734
Senior Associate Murali TR Chennai murali.tr@indiaratings.co.in 91 44 4340 1717
Senior Associate Saurabh Dad Mumbai saurabh.dad@indiaratings.co.in 91 22 4000 1777
Senior Associate Pinku Prittom Dutta Mumbai pinku.dutta@indiaratings.co.in 91 22 4000 1739
Associate Namrata Tiwari Delhi namrata.tiwari@indiaratings.co.in 91 11 4356 7235
India Ratings and Research www.indiaratings.co.in As on 31 March 2013