Rating Reckoner CARE

36
RATINGS HEAD OFFICE Tel.: Fax : www.careratings.com 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai-400 022. (022) 6754 3456 (022) 6754 3457 710, Surya Kiran, 19, Kasturba Gandhi Marg, New Delhi - 110 001 Tel.: (011) 2331 8701 / 2371 6199 Unit No. 8, I Floor, Commander’s Place, No. 6, Raja Ram Mohan Roy Road, (Opp. P F Office), Richmond Circle, Bangalore - 560 025 Tel.: (080) - 2520 5575 Cell : 9886024430 401, Ashoka Scintilla, 3-6-520, Himayat Nagar, Hyderabad - 500 029. Tel.: (040) - 4010 2030 • Cell : 91600 04563 3rd Floor, Prasad Chambers, (Shagun Mall Building), 10A, Shakespeare Sarani, Kolkata - 700 071 Tel.: (033) 2283 1800 / 1803 / 2280 8472 REGIONAL OFFICES December 2009 Volume 16 No.4 32 TITANIUM, Prahaladnagar Corporate Road Satellite, Ahmedabad – 380015 Tel No. 079 4026 5656 Unit No. O-509/C, Spencer Plaza, 5th Floor, No. 769, Anna Salai, Chennai 600 002 Tel No. 044 – 2849 7812/0811

Transcript of Rating Reckoner CARE

Page 1: Rating Reckoner CARE

RATINGS

HEAD OFFICE

Tel.: Fax : www.careratings.com

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai-400 022.

(022) 6754 3456 (022) 6754 3457

710, Surya Kiran,19, Kasturba Gandhi Marg, New Delhi - 110 001

Tel.: (011) 2331 8701 / 2371 6199

Unit No. 8, I Floor, Commander’s Place,No. 6, Raja Ram Mohan Roy Road,

(Opp. P F Office), Richmond Circle, Bangalore - 560 025Tel.: (080) - 2520 5575 Cell : 9886024430•

401, Ashoka Scintilla, 3-6-520, Himayat Nagar,Hyderabad - 500 029.

Tel.: (040) - 4010 2030 • Cell : 91600 04563

3rd Floor, Prasad Chambers, (Shagun Mall Building),10A, Shakespeare Sarani, Kolkata - 700 071Tel.: (033) 2283 1800 / 1803 / 2280 8472

REG IO NAL OFFICE S

D e cem b er 2 009Vo lum e 16 N o.4

32 TITANIUM, Prahaladnagar Corporate RoadSatellite, Ahmedabad – 380015

Tel No. 079 4026 5656

Unit No. O-509/C, Spencer Plaza, 5th Floor, No. 769, Anna Salai, Chennai 600 002

Tel No. 044 – 2849 7812/0811

Page 2: Rating Reckoner CARE

CARE is a credit rating and information services company promoted by IDBI

jointly with investment institutions, banks and finance companies. The

Company commenced its operations in October 1993 and announced its first

rating in November 1993.

As on December 31, 2009 CARE completed 7075 rating assignments, covering

6647 instruments, 120 Credit Analysis Ratings/Issuer Rating, 12 Collective

Investment Schemes, 1 Claims Paying Ability, 3 Construction Entities, 4

Corporate Governance, 52 Grading of Maritime Institute, 6 SME Rating, 60

IPO Grading, 1 NSIC/SSI, 49 Micro Finance Grading, 19 Recovery Rating, 5

Mutual Fund Rating and 96 Parallel Marketers in LPG/SKO. Out of the 6647

instruments rated, involving a total debt volume of Rs. 20988 bn, 5497 ratings for a total debt volume of Rs. 17643 bn were accepted. Accepted ratings are

published in the media, every week. In tune with the industry practices in

India, CARE does not publish ratings which are not accepted by issuers.

In January 1994, CARE commenced publication of CAREVIEW, a quarterly

journal on CARE ratings. In addition to the rationale for all accepted ratings,

CAREVIEW often carries special features of interest to issuers of debt

instruments, investors and other market players. The annual subscription for

CAREVIEW is Rs. 1,500 (inland) and US 100 (overseas).

Credit Analysis & Research Ltd. Media may use contents freely

with due acknowledgement to CARE.

$

Copyright :

CREDIT ANALYSIS &

RESEARCH LIMITED

CARE Ratings : CARE's ratings are opinions on credit quality only and are not recommendations to buy, sell or hold any security. CARE has based its ratings on information obtained from sources believed by it to be accurate and reliable. CARE does not, however, guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Most issuers of securities rated CARE have paid a credit rating fee, based on the amount and type of securities issued.

Page 3: Rating Reckoner CARE

Ratings Outstanding as on December 31, 2009

A2Z Maintenance & Engineering Services Pvt. Ltd. STD/CP 250 PR2+ Diversified & MiscAban Offshore Ltd. RPS I 1500 CARE BBB-(RPS) InfrastructureAban Offshore Ltd. RPS II 1560 CARE BBB-(RPS) InfrastructureAban Offshore Ltd. RPS III 200 CARE BBB-(RPS) InfrastructureABG Shipyard Ltd. STD/CP 1000 PR1 @ Infrastructure DABG Shipyard Ltd. CP I 1000 PR1 @ Infrastructure DABG Shipyard Ltd. CP II 4000 PR1+ @ InfrastructureABG Shipyard Ltd. NCD 2000 CARE A @ Infrastructure DAbhishek Industries Ltd. NCD/LTD # TextileABP Pvt. Ltd. STD/CP 500 PR1+Adani Enterprises Ltd. STD 2000 PR2+ Diversified & MiscAditya Birla Nuvo Ltd NCD 5000 CARE AA+ Diversified & Misc DAegis Logistics Ltd. NCD/LTD 440 CARE AA- Chemicals & Plastics @Aftek Ltd. NCD 500 CARE A Information TechnologyAhluwalia Contracts (India) Ltd. CP 250 PR1 ConstructionAhmedabad Municipal Corporation Bonds 1000 CARE AA(SO) Public Finance @Ahmedabad Municipal Corporation Tax Free Bonds 1500 CARE AA(SO) Public Finance @AIG Consumer Financial Serices (I) Ltd. FD # NBFCAIG Home Finance (I) Ltd. FD 1.5 CARE BB+ NBFC DAjanta Pharma Ltd. CP 300 PR1Ajmer Vidyut Vitran Nigam Ltd. Bonds # Public FinanceAkruti City Ltd. STD # ConstructionAkruti City Ltd. NCD # ConstructionAlembic Ltd. STD/CP $ Drugs & PharmaceuticalsAlembic Ltd. NCD 500 CARE AA Drugs & PharmaceuticalsAllahabad Bank CD # BankAllahabad Bank Tier II Bonds (Series IV) 2000 CARE AA+ BankAllahabad Bank Tier II Bonds (Series V) 5000 CARE AA+ BankAllahabad Bank Tier II Bonds (Series VI) 5619 CARE AA+ BankAllahabad Bank Tier II Bonds (Series VII) 5000 CARE AA+ BankAllahabad Bank Tier II Bonds (Series VIII) 4000 CARE AA+ BankAllahabad Bank Tier II Bonds (Series IXI) 4500 CARE AA+ BankAllahabad Bank Upper Tier Bonds (Series I) 5000 CARE AA BankAllahabad Bank Upper Tier Bonds (Series II) 5000 CARE AA BankAllahabad Bank Perpetual Debt 3000 CARE AA BankAlok Industries Ltd. CP/STD 10000 PR1+ Textile UAlok Infrastructure Pvt. Ltd. Deep Discount NCD 2000 CARE A(SO) TextileAmalgamated Bean Coffee Trading Co. Ltd. CP/STD 500 PR1+ Consumer GoddsAmar Remedies Ltd. CP/STD II 850 PR1 Drugs & PharmaceuticalsAmtek Auto Ltd. CP 1500 PR1+ Automobiles & Auto AncilliariesAmtek Auto Ltd. NCD I 5000 CARE AA Automobiles & Auto AncilliariesAmtek Auto Ltd. NCD II 800 CARE AA Automobiles & Auto AncilliariesAmtek Auto Ltd. NCD III 2000 CARE AA Automobiles & Auto AncilliariesAmtek India Ltd. CP 1000 PR1+ Automobiles & Auto AncilliariesAmtek India Ltd. NCD I 200 CARE AA- Automobiles & Auto AncilliariesAmtek India Ltd. NCD II 3000 CARE AA- Automobiles & Auto AncilliariesAmtek India Ltd. NCD III 2000 CARE AA- Automobiles & Auto AncilliariesAndhra Bank CD 125000 PR1+ BankAndhra Bank Tier II Bonds (Series C) % BankAndhra Bank Tier II Bonds (Series D) 1400 CARE AAA BankAndhra Bank Tier II Bonds (Series F) 7000 CARE AAA BankAndhra Bank Tier II Bonds (Series G) 5000 CARE AAA BankAndhra Bank Subordinated Bonds 5000 CARE AAA BankAndhra Bank Upper Tier II Bonds 5000 CARE AA+ BankAndhra Pradesh Power Generation Corn Ltd. Non SLR Bonds 5898 CARE A(SO) Public FinanceApollo Hospitals Enterprise Ltd. FD # Diversified & MiscArch Pharmalab Ltd. NCD 1000 CARE A Drugs & Pharmaceuticals

NAME OF ISSUER INSTRUMENTAMOUNT(RS. MN) INDUSTRY REMARKS

3

LONGTERM

MEDIUMTERM

SHORTTERM

Page 4: Rating Reckoner CARE

4

Arch Pharmalab Ltd. OFCD 800 CARE A Drugs & PharmaceuticalsAryan Coal Benefication Pvt Ltd ST NCD 500 PR1 Diversified & MiscAsian Electronics Ltd. CP/STD # Electricals & ElectronicsAsian Granito (India) Ltd. STD/CP $ Diversified & MiscAssociated Transrail Structures Ltd. CP/STD 200 PR1+ InfrastructureAvon Organics Ltd. CP/STD 200 PR1(SO) Drugs & PharmaceuticalsAvtec Ltd. CP/STD 250 PR2AXIS Bank Ltd. Tier II Bonds I 20000 CARE AAA BankAXIS Bank Ltd. Tier II Bonds II 20000 CARE AAABank of Baroda Tier II Bonds 5000 CARE AAA BankBank of Baroda Perpetual Bonds I 5000 CARE AAA BankBank of Baroda Perpetual Bonds II 10000 CARE AAA BankBank of Baroda Upper Tier II Bonds (Series I) 15000 CARE AAA BankBank of Baroda Upper Tier II Bonds (Series II) 10000 CARE AAA BankBank of India Upper Tier II Bonds (Series II) 5000 CARE AAA BankBank of India Upper Tier II Bonds (Series III) 5000 CARE AAA BankBank of India Perpetual Bonds 4000 CARE AAA BankBank of Maharashtra Tier II Bonds(Series IV) # BankBank of Maharashtra Tier II Bonds (Series V) 1675 CARE AA BankBank of Maharashtra Tier II Bonds (Series VI) 4000 CARE AA BankBank of Maharashtra Tier II Bonds (Series VII) 2250 CARE AA BankBank of Maharashtra Tier II Bonds (Series VIII) 2000 CARE AA BankBank of Maharashtra Upper Tier II Bonds I 3000 CARE AA- BankBank of Maharashtra Upper Tier II Bonds II 2000 CARE AA- BankBank of Maharashtra Upper Tier II Bonds III 1500 CARE AA- BankBank of Maharashtra Upper Tier II Bonds IV 2000 CARE AA- BankBank of Maharashtra Perpetual Debt 2250 CARE AA- BankBank of Rajasthan, The Tier II Bonds I 720 CARE A- BankBank of Rajasthan, The Tier II Bonds II 700 CARE A- BankBank of Rajasthan, The Tier II Bonds III 480 CARE A- BankBank of Rajasthan, The Tier II Bonds IV 500 CARE A- BankBank of Rajasthan, The Tier II Bonds V 500 BankBank of Rajasthan, The Upper Tier II Bonds (Series I) 611 CARE BBB BankBank of Rajasthan, The Upper Tier II Bonds (Series II) 500 CARE BBB BankBanswara Syntex Ltd. NCD # TextileBharat Hotels Ltd. NCD 1400 CARE A+ HotelsBharat Petroleum Corporation Ltd. CP/STD 10000 PR1+ Refinery ProductsBharat Petroleum Corporation Ltd. NCD 20000 CARE AAA Refinery ProductsBharati Shipyard Ltd. NCD 900 CARE A @ InfrastructureBhilangana Hydro Power Ltd. OFCD 200 CARE BBB InfrastructureBhushan Steel Ltd. CP/STD 7000 PR1 Metals DBhushan Steel Ltd. Subordinated Debt 1000 CARE A- MetalsBinani Cement Ltd. NCD I 700 CARE A Cement UBinani Cement Ltd. NCD II 400 CARE A Cement UBirla Corporation Ltd. CP/STD 1250 PR1+ CementBirla Corporation Ltd. STD 1250 PR1+ CementBirla Corporation Ltd. LT Borrowing 5000 CARE AA+ Cement UBL Kashyap & Sons Ltd. Term Loan # ConstructionBlue Bird (India) Ltd. STD 1000 PR4 Diversified & MiscBlue Star Ltd. CP/STD 2250 PR1 + Machinery/EquipmentsBlue Star Ltd. NCD $ Machinery/EquipmentsBRM Lease & Credit (Pvt.) Ltd. FD # NBFCCairn India Ltd. NCD 20000 CARE AA+ InfrastructureCan Fin Homes Ltd. Tier II Bonds # NBFCCatholic Syrian Bank Ltd.,The Tier II Bonds (Series I) 317 CARE BBB Bank DCatholic Syrian Bank Ltd.,The Tier II Bonds (Series II) 400 CARE BBB Bank D

NAME OF ISSUER INSTRUMENTAMOUNT(RS. MN) INDUSTRY REMARKSLONG

TERMMEDIUM

TERMSHORTTERM

Page 5: Rating Reckoner CARE

Ceat Ltd CP $ TyresCeat Ltd FD # TyresCentral Bank of India CD 1500000 PR1+ BankCentral Bank of India Tier II Bonds (Series VII) 2000 CARE AA+ Bank UCentral Bank of India Tier II Bonds (Series VIII) 700 CARE AA+ Bank UCentral Bank of India Tier II Bonds (Series IX) 2000 CARE AA+ Bank UCentral Bank of India Tier II Bonds (Series X) 5782 CARE AA+ Bank UCentral Bank of India Tier II Bonds (Series XII) 3891 CARE AA+ Bank UCentral Bank of India Tier II Bonds (Series XIII) 2700 CARE AA+ Bank UCentral Bank of India Upper Tier II Bonds (Series I) 2850 CARE AA Bank UCentral Bank of India Upper Tier II Bonds (Series II) 5000 CARE AA Bank UCESC Ltd. STD 3750 PR1+ InfrastructureCESC Ltd. LT Borrowing/NCD # InfrastructureChandigarh Distillers & Bottlers Ltd. STD/CP 50 PR1+ Diversified & MiscChhattisgarh Electricity Company Ltd STD 250 PR1 InfrastructureCIPLA Ltd. CP/STD 5000 PR1+ Drugs & PharmaceuticalsCity Union Bank Ltd. Tier II Bonds 400 CARE A BankClearing Corporation of India Ltd. RPS 500 CARE AAA(RPS) Financial InstitutionColourplus Fashions Ltd. CP/STD # TextileCorporation Bank Tier II Bonds 5000 CARE AAA BankCorporation Bank Perpetual Bonds I 2375 CARE AAA BankCorporation Bank Perpetual Bonds II 3000 CARE AAA BankCorporation Bank Perpetual Bonds III 2200 CARE AAA BankCorporation Bank Upper Tier II Bonds I 3000 CARE AAA BankCorporation Bank Upper Tier II Bonds II 7000 CARE AAA BankCorporation Bank Upper Tier II Bonds III 5000 CARE AAA BankCorporation Bank Upper Tier II Bonds IV 5000 CARE AAA BankCorporation Bank Upper Tier II Bonds V 3000 CARE AAA BankCox & Kings (I) Ltd. CP/STD 750 PR1+ Diversified & MiscCox & Kings (I) Ltd. CP/STD 750 PR1 Diversified & MiscD.B. Corp Ltd. STD 250 PR1+ Diversified & MiscD.B. Corp Ltd. NCD 250 CARE A+ Diversified & MiscDahej Harbour and Infrastructure Ltd., CP/STD 1750 PR1+ InfrastructureDeccan Chronicle Holdings Ltd STD 5000 PR1+ Diversified & MiscDeccan Chronicle Holdings Ltd Secured NCDs 1780 CARE AA Diversified & MiscDeepak Fertilisers and Petrochemicals Corp. Ltd NCD 1000 CARE AA Chemicals & PlasticsDelhi Assam Roadways Ltd. CP # Diversified & MiscDelhi Gurgaon Super Connectivity Ltd. NCD & InfrastructureDemuric Holdings Pvt. Ltd. ICD 2000 CARE A+(SO) Diversified & MiscDena Bank Tier II Bonds (Series V) # BankDena Bank Tier II Bonds (Series VI) # BankDena Bank Tier II Bonds (Series VII) 1500 CARE AA Bank UDena Bank Tier II Bonds (Series VIII) 2100 CARE AA Bank UDena Bank Tier II Bonds (Series XI) 2500 CARE AA Bank UDena Bank Upper Tier II Bonds 2500 CARE A+ Bank UDena Bank Perpetual Bonds 1250 CARE A+ Bank UDeutsche Postbank Home Finance Ltd NCD 1000 CARE AAA(SO) NBFCDewan Housing Finance Corp Ltd. FD 2000 CARE AA + NBFCDewan Housing Finance Corp Ltd. NCD I 4795.5 CARE AA+ NBFCDewan Housing Finance Corp Ltd. NCD II 5000 CARE AA+ NBFCDewan Housing Finance Corp Ltd. NCD III 10000 CARE AA+ NBFCDewan Housing Finance Corp Ltd. Pref Share 300 CARE AA NBFCDewan Housing Finance Corp Ltd. Tier II Bonds (I) 800 CARE AA NBFCDhanalakshmi Bank Ltd., The CD 2500 PR1+ BankDhanalakshmi Bank Ltd., The Tier II Bonds (Series IV) # BankDhanalakshmi Bank Ltd., The Tier II Bonds (Series V) 200 CARE A- BankDhanalakshmi Bank Ltd., The Tier II Bonds (Series VI) 100 CARE A- Bank

5

NAME OF ISSUER INSTRUMENTAMOUNT(RS. MN) INDUSTRY REMARKSLONG

TERMMEDIUM

TERMSHORTTERM

Page 6: Rating Reckoner CARE

Dhanalakshmi Bank Ltd., The Tier II Bonds (Series VI) 1500 CARE A- BankDishman Pharmaceuticals & Chemicals Ltd. STD/CP 200 PR1+ Drugs & PharmaceuticalsDLF Limited CP/STD 10000 PR1+ Real EstateEducomp Solutions Ltd STD 500 PR1 Diversified & MiscElder Pharmaceuticals Ltd. CP 1250 PR1+ Drugs & PharmaceuticalsElecon Engineering Co Ltd. STD/CP 800 PR1+ Machinery/EquipmentsElectrosteel Castings Ltd. STD/CP 2500 PR1+ MetalsElectrosteel Castings Ltd. NCD I 1500 CARE AA Metals UElectrosteel Castings Ltd. NCD II 1500 CARE AA Metals UEmaar MGF Land Ltd. ST Debt # ConstructionEmaar MGF Land Ltd. LT Debt # ConstructionEmaar MGF Land Ltd. NCD 540 CARE BB+ Construction DEmami Ltd. CP/STD 1000 PR1+ Consumer GoddsEmami Ltd. LT Debt/NCD 2000 CARE AA Consumer GoddsEmami Ltd. LT Debt/NCD III 1000 CARE AA Consumer GoddsEmami Paper Mills Ltd. CP 250 PR1+ Paper & PackagingEmami Paper Mills Ltd. Term Borrowing/NCD $ Paper & PackagingEmami Realty Ltd. LT Debt/NCD 1000 CARE AA(SO) ConstructionEmco Ltd. CP 500 PR1 Electricals & ElectronicsEmco Ltd. NCD 600 CARE A+ Electricals & ElectronicsEmcure Pharmaceuticals Ltd. NCD 600 CARE A+Emkay Share & Stock Brokers Ltd. CP # NBFCEra Infra Engineering Ltd. NCD I 500 CARE A+ ConstructionEra Infra Engineering Ltd. NCD II % ConstructionEra Infra Engineering Ltd. NCD III 1000 CARE A+ ConstructionEra Infra Engineering Ltd. NCD IV 1000 CARE A+ ConstructionEra Infra Engineering Ltd. NCD V 750 CARE A+ ConstructionEra Infra Engineering Ltd. NCD VI 1000 CARE A+ ConstructionEra Infra Engineering Ltd. NCD VII 1000 CARE A+ ConstructionEscorts Finance Ltd. FD & NBFCEss Dee Aluminium Ltd. CP 700 PR1+ Diversified & MiscEss Dee Aluminium Ltd. NCD 1000 CARE AA- Diversified & MiscEssar Oil Ltd. Invoice Discounting Facility 8000 PR2(SO) Diversified & MiscEssar Power Ltd. CP 500 PR1+ InfrastructureEssar Power Ltd. STD 500 PR2+ InfrastructureEssar Power Ltd. NCD # InfrastructureEssar Shipping Port & Logistics Ltd. CP 1600 PR1 ShippingEssar Shipping Port & Logistics Ltd. NCD 7000 CARE A+ InfrastructureETC Networks Ltd. NCD 750 CARE A Diversified & MiscEuro Ceramics Ltd. CP/STD # Diversified & Misc DEuro Ceramics Ltd. CP/STD # Diversified & Misc DEuro Ceramics Ltd. CP/STD # Diversified & Misc DFederal - Mogul Goetze (India) Ltd. CP # Automobiles & Auto AncilliariesFederal - Mogul Goetze (India) Ltd. NCD # Automobiles & Auto AncilliariesFederal Bank Ltd., The Tier II Sub. Bonds I 750 CARE AA BankFederal Bank Ltd., The Tier II Sub. Bonds II 450 CARE AA BankFederal Bank Ltd., The Tier II Sub. Bonds III 1500 CARE AA BankFederal Bank Ltd., The Tier II Sub. Bonds IV 2000 CARE AA BankFirst Leasing Co. of India Ltd. CP 1600 PR1+ NBFCFirst Leasing Co. of India Ltd. STD 1000 PR1+ NBFCFirst Leasing Co. of India Ltd. FD 600 CARE AA+ NBFCFuture Capital Holdings Ltd ST Borrowing Programme 4000 PR1+ NBFCG.I. Power Corporation Ltd. FD # InfrastructureGammon India Ltd. CP 4000 PR1+ Construction EGammon India Ltd. MT NCD $ ConstructionGammon India Ltd. NCD IV 500 CARE AA Construction D

6

NAME OF ISSUER INSTRUMENTAMOUNT(RS. MN) INDUSTRY REMARKSLONG

TERMMEDIUM

TERMSHORTTERM

Page 7: Rating Reckoner CARE

Gammon India Ltd. NCD V 500 CARE AA Construction DGammon India Ltd. NCD VI 1000 CARE AA Construction DGammon India Ltd. NCD VII 1000 CARE AA Construction DGannon Dunkerley Corporation Ltd. CP/STD I 250 PR1+ Machinery/EquipmentsGannon Dunkerley Corporation Ltd. CP/STD II 250 PR1 Machinery/EquipmentsGarden Silk Mills Ltd. CP/Mibor Linked/STD 1850 PR1+ TextileGarden Silk Mills Ltd. NCD 500 CARE A+ TextileGas Apparels Pvt. Ltd. STD - # Diversified & MiscGati Ltd CP 450 PR1+ Diversified & MiscGati Ltd NCD # Diversified & Misc DGautami Power Ltd. NCD 750 CARE BBB+(SO) InfrastructureGIC Housing Finance Ltd. NCD $ NBFCGitanjali Gems Ltd. NCD 1500 CARE A+ Gems & JewelleryGMMCO Ltd. CP/STD 500 PR1+ Diversified & MiscGMMCO Ltd. NCD/Term Loan 450 CARE AA Diversified & MiscGMR Infrastructure Ltd NCD 650 CARE AA-(SO) Infrastructure DGodavari Marathwada Irrigation Bonds III 586.8 CARE BBB+(SO) Public FinanceDevelopment CorpnGodavari Marathwada Irrigation Bonds IV 1386.1 CARE BBB+(SO) Public FinanceDevelopment CorpnGodavari Marathwada Irrigation Bonds V 1195 CARE BBB+(SO) Public FinanceDevelopment CorpnGodavari Marathwada Irrigation Bonds VI 360.6 CARE BBB+(SO) Public FinanceDevelopment CorpnGodawari Power & Ispat Ltd. CP 200 PR1 MetalsGrabal Alok Impex Ltd. CP/STD 500 PR1 TextileGrasim Bhiwani Textiles Ltd. CP/STD/ST Loan 100 PR1+(SO) TextileGrasim Industries Ltd. CP/STD 10000 PR1+ Diversified & MiscGrasim Industries Ltd. LT NCD (Umbrella Rating) 20000 CARE AAA Diversified & MiscGreat Eastern Shipping Company Ltd., The NCD 5000 CARE AAA ShippingGreater Visakhapatnam Municipal Corporation Bonds I 650 CARE AA-(SO) Public FinanceGreater Visakhapatnam Municipal Corporation Bonds II 1000 CARE AA-(SO)Gujarat Alkalies & Chamicals Ltd. CP/STD 1000 PR1+ Chemicals & PlasticsGujarat NRE Coke Ltd. CP 100 PR1+ Diversified & MiscGujarat NRE Coke Ltd. NCD 2000 CARE AA- Diversified & MiscGujarat NRE Coke Ltd. NCD II 1000 CARE AA- Diversified & MiscGujarat State Fertilizers & Chemicals Ltd. STD/CP 7000 PR1+ Chemicals & PlasticsGujarat State Road Transport Corpn Bonds II # Public FinanceGujarat Toll Road Investment Co. Ltd. DDBs # Public FinanceGujarat Urja Vikas Nigam Ltd. Bonds III 5250 CARE A- (SO) Public FinanceGujarat Urja Vikas Nigam Ltd. Bonds IV 5117.9 CARE A-(SO) Public FinanceGujarat Urja Vikas Nigam Ltd. Bonds V 4000 CARE A- (SO) Public FinanceHanung Toys & Textiles Ltd. CP/STD 400 PR1 Diversified & MiscHavells India Ltd. STD/CP # Electricals & ElectronicsHDFC Bank Ltd. CD 100000 PR1+ BankHDFC Bank Ltd. FD CARE AAA BankHDFC Bank Ltd. Tier II Bonds (Series I) 3950 CARE AAA BankHDFC Bank Ltd. Tier II Bonds (Series II) 50 CARE AAA BankHDFC Bank Ltd. Tier II Bonds (Series III) 2530 CARE AAA BankHDFC Bank Ltd. Tier II Bonds (Series IV) 700 CARE AAA BankHDFC Bank Ltd. Tier II Bonds (Series V) 910 CARE AAA BankHDFC Bank Ltd. Tier II Bonds (Series VI) 2310 CARE AAA BankHDFC Bank Ltd. Tier II Bonds (Series VII) 890 CARE AAA BankHDFC Bank Ltd. Tier II Bonds (Series VIII) 1680 CARE AAA BankHDFC Bank Ltd. Tier II Bonds (Series IX) 3000 CARE AAA BankHDFC Bank Ltd. Tier II Bonds (Series X) 1690 CARE AAA BankHDFC Bank Ltd. Tier II Bonds (Series XI) 2410 CARE AAA BankHDFC Bank Ltd. Tier II Bonds (Series XII) 15000 CARE AAA Bank

7

NAME OF ISSUER INSTRUMENTAMOUNT(RS. MN) INDUSTRY REMARKSLONG

TERMMEDIUM

TERMSHORTTERM

Page 8: Rating Reckoner CARE

8

HDFC Bank Ltd. Tier II Bonds (Series XIII) 10000 CARE AAA BankHDFC Bank Ltd. Upper Tier II Bonds (Series I) 7359 CARE AAA BankHDFC Bank Ltd. Upper Tier II Bonds (Series II) 15750 CARE AAA BankHDFC Bank Ltd. Upper Tier II Bonds (Series III) 16000 CARE AAA BankHDFC Bank Ltd. Perpetual Bonds(Series I) 2000 CARE AAA BankHDFC Bank Ltd. Perpetual Bonds (Series II) 7000 CARE AAA BankHDFC Bank Ltd. Tier II Bonds 507 CARE AAA BankHero Financial Services Ltd. FD & NBFCHindustan Construction Co. Ltd. CP/STD I 5000 PR1+ ConstructionHindustan Construction Co. Ltd. CP/STD II 1000 PR1+ ConstructionHindustan Construction Co. Ltd. NCD I 1030 CARE AA- Construction DHindustan Construction Co. Ltd. NCD II 1000 CARE AA- Construction DHindustan Construction Co. Ltd. NCD III 500 CARE AA- Construction DHindustan Construction Co. Ltd. NCD IV 500 CARE AA- ConstructionHindustan National Glass & Industries Ltd. STD/CP 1750 PR1+ Diversified & MiscHindustan National Glass & Industries Ltd. NCD I 1000 CARE AA Diversified & Misc UHindustan National Glass & Industries Ltd. NCD II 250 CARE AA Diversified & Misc UHMT Ltd. Bonds 3100 CARE BB(SO) Diversified & MiscHotel LeelaVenture Ltd NCD 1500 CARE A+Housing & Urban Dev. Corporation Ltd. STD 10000 PR1+ Financial InstitutionHousing & Urban Dev. Corporation Ltd. FD 30000 CARE AA+ Financial InstitutionHousing & Urban Dev. Corporation Ltd. LT Bonds (Umbrella Bonds 2005) 30000 CARE AA+ Financial Institution UHousing & Urban Dev. Corporation Ltd. LT Bonds (Umbrella Bonds 2004) 59640 CARE AAA(SO) Financial InstitutionHousing & Urban Dev. Corporation Ltd. LT Bonds (Umbrella Bonds 2002) 32500 CARE AA+ Financial Institution UHousing & Urban Dev. Corporation Ltd. LT Bonds (Umbrella Bonds 2003) 3750 CARE AA+ Financial Institution UHousing & Urban Dev. Corporation Ltd. LT Bonds (Umbrella Bonds 2006) 20000 CARE AA+ Financial Institution UHousing & Urban Dev. Corporation Ltd. LT Bonds (Umbrella Bonds 2007) 35000 CARE AA+ Financial Institution UHousing Development & Infrastructure Ltd. STD # InfrastructureHousing Development & Infrastructure Ltd. NCD 11950 CARE A InfrastructureICICI Bank Ltd. CD 500000 PR1+ BankICICI Bank Ltd. FD CARE AAA BankICICI Bank Ltd. Perpetual Bonds 37000 CARE AAA BankICICI Bank Ltd. Upper Tier II Bonds 100000 CARE AAA BankICICI Bank Ltd. Tier II Bonds 85000 CARE AAA BankICICI Bank Ltd. Infra Bonds 10000 CARE AAA BankICICI Bank Ltd. Tier II Bonds (Series I) 7280 CARE AAA BankICICI Bank Ltd. Tier II Bonds (Series II) 40000 CARE AAA BankICICI Bank Ltd. Tier II Bonds (Series III) 7920 CARE AAA BankICICI Bank Ltd. Tier II Bonds (Series IV) 5250 CARE AAA BankICICI Bank Ltd. Tier II Bonds (Series V) 4500 CARE AAA BankICICI Bank Ltd. Bonds (Pvt Placement 1998) 14940 CARE AAA BankICICI Bank Ltd. Bonds (Pvt Placement 1999) 11910 CARE AAA BankICICI Bank Ltd. Bonds (Pvt Placement 2000) 280 CARE AAA BankICICI Bank Ltd. Bonds (Pvt Placement 2001) 7350 CARE AAA BankICICI Bank Ltd. Bonds (Pvt Placement 2002) 31370 CARE AAA BankICICI Bank Ltd. Bonds (Pvt Placement 2003) 1840 CARE AAA BankICICI Bank Ltd. Bonds (Pvt Placement 2004) 300 CARE AAA BankICICI Bank Ltd. Bonds (Pub Issue 2003) 2080 CARE AAA BankICICI Bank Ltd. Bonds (Pub Issue 2004) 90 CARE AAA BankICICI Bank Ltd. Bonds (Pub Issue 2005) 17340 CARE AAA BankICICI Bank Ltd. Bonds (Pub Issue 2002) 3210 CARE AAA BankICICI Bank Ltd. Bonds (Pub Issue 2001) 2540 CARE AAA BankICICI Bank Ltd. Bonds (Pub Issue 2000) 850 CARE AAA BankICICI Bank Ltd. Bonds (Pub Issue 1999) 1370 CARE AAA BankICICI Bank Ltd. Bonds (Pub Issue 1998) 3610 CARE AAA BankICICI Bank Ltd. Bonds (Pub Issue 1997) 950 CARE AAA BankICICI Home Finance Co. Ltd. FD 40000 CARE AAA(SO) NBFC E

NAME OF ISSUER INSTRUMENTAMOUNT(RS. MN) INDUSTRY REMARKSLONG

TERMMEDIUM

TERMSHORTTERM

Page 9: Rating Reckoner CARE

9

ICICI Home Finance Co. Ltd. Sr. Bonds 27860 CARE AAA(SO) NBFCICICI Home Finance Co. Ltd. Subordinate Bonds 3350 CARE AAA(SO) NBFCICICI Home Finance Co. Ltd. FD 20000 CARE AAA NBFCICICI Home Finance Co. Ltd. Sr. Bonds 22140 CARE AAA NBFCICICI Home Finance Co. Ltd. Subordinate Bonds 1650 CARE AAA NBFCIDBI Bank Ltd. FD/CD # BankIDBI Bank Ltd. Flexi Bonds IV 27.4 CARE AA+ BankIDBI Bank Ltd. Flexi Bonds VI 7.2 CARE AA+ BankIDBI Bank Ltd. Flexi Bonds VII 10 CARE AA+ BankIDBI Bank Ltd. Bond/Deposits # BankIDBI Bank Ltd. Omni Bonds # BankIDBI Bank Ltd. Tier II Bonds 560 CARE AA+ BankIDBI Capital Market Services Ltd. Tier III Bonds # NBFCIDBI Home Finance Ltd. Tier II Bonds (Series I) 600 CARE AA NBFCIDBI Home Finance Ltd. Tier II Bonds (Series II) 200 CARE AA NBFCIDBI Home Finance Ltd. Tier II Bonds (Series III) 500 CARE AA NBFCIFCI Ltd. FD # Financial InstitutionIFCI Ltd. Long & Medium Debt # Financial InstitutionIFCI Ltd. PS # Financial InstitutionIFCI Ltd. Bonds # Financial InstitutionIFGL Refractories Ltd. STD/CP 100 PR1+ MetalsIKF Finance Ltd. FD # NBFCIKF Finance Ltd. NCD # NBFC DIL&FS Financial Services Ltd. CP/STD 5000 PR1+ NBFCIL&FS Transporation Networks Ltd. CP 2000 PR2 InfrastructureIndia Cements Ltd. CP 2000 PR1+ CementIndia Infrastructure Finance Company Ltd Unsecured Taxable Bonds 10000 CARE AAA(SO) * NBFCIndia Infrastructure Finance Company Ltd Taxable Bonds 20000 CARE AAA(SO) NBFCIndian Hotels Co. Ltd., The NCD 6028.5 CARE AA+ HotelsIndian Hume Pipe Co. Ltd., The CP 400 PR1+ MetalsIndian Hume Pipe Co. Ltd., The STD 200 PR1+ MetalsIndian Overseas Bank Tier II Sub Bonds V 2000 CARE AA+ BankIndian Overseas Bank Tier II Sub Bonds VI 2000 CARE AA+ BankIndian Overseas Bank Tier II Sub Bonds VII 1500 CARE AA+ BankIndian Overseas Bank Tier II Sub Bonds VIII 2000 CARE AA+ BankIndian Overseas Bank Tier II Sub Bonds X 3000 CARE AA+ BankIndian Overseas Bank Tier II Sub Bonds 360 CARE AA+ BankIndian Railway Finance Corporation Ltd. ST Market Borrowing 30000 PR1+ Financial InstitutionIndian Railway Finance Corporation Ltd. ST Loans 35000 PR1+ Financial InstitutionIndian Railway Finance Corporation Ltd. Mkt. Borrowing Programme I 46700 CARE AAA Financial InstitutionIndian Railway Finance Corporation Ltd. Mkt. Borrowing Programme II 52400 CARE AAA Financial InstitutionIndian Railway Finance Corporation Ltd. Mkt. Borrowing Programme III 72000 CARE AAA Financial InstitutionIndian Railway Finance Corporation Ltd. Mkt. Borrowing Programme V 91700 CARE AAA Financial InstitutionIndian Renewable Energy Dev. Agency Ltd. LT Bonds 1000 CARE AAA(SO) Financial InstitutionIndian Smelting & Refining Co. Ltd. CP/STD 300 PR1 MetalsIndo Asian Finance Ltd. FD 30 CARE BBB- NBFCIndo Count Industries Ltd. NCD 300 CARE D DIndowind Energy Ltd. NCD 1000 CARE A-Infrastructure Leasing & Financial Services Ltd. ST Deposits 2000 PR1+ NBFCInfrastructure Leasing & Financial Services Ltd. CP 1750 PR1+ NBFCInfrastructure Leasing & Financial Services Ltd. ST NCD 1000 PR1+ NBFCInfrastructure Leasing & Financial Services Ltd. NCD M 395 CARE AAA NBFCInfrastructure Leasing & Financial Services Ltd. NCD 99 (I) 686 CARE AAA NBFCInfrastructure Leasing & Financial Services Ltd. NCD 99 (III) 250 CARE AAA NBFCInfrastructure Leasing & Financial Services Ltd. NCD 2001 (II) 330 CARE AAA NBFCInfrastructure Leasing & Financial Services Ltd. NCD 2001 (IV) 175 CARE AAA NBFCInfrastructure Leasing & Financial Services Ltd. NCD 2001 (IX A) 29 CARE AAA NBFCInfrastructure Leasing & Financial Services Ltd. NCD 2001 (IX B) 9 CARE AAA NBFC

NAME OF ISSUER INSTRUMENTAMOUNT(RS. MN) INDUSTRY REMARKSLONG

TERMMEDIUM

TERMSHORTTERM

Page 10: Rating Reckoner CARE

10

Infrastructure Leasing & Financial Services Ltd. NCD 2001 X 414 CARE AAA NBFCInfrastructure Leasing & Financial Services Ltd. NCD 2001 XI 220 CARE AAA NBFCInfrastructure Leasing & Financial Services Ltd. Subordinate Debt 2001 771 CARE AAA NBFCInfrastructure Leasing & Financial Services Ltd. NCD 2002 VIII 900 CARE AAA NBFCInfrastructure Leasing & Financial Services Ltd. NCD 2002 XI 1643 CARE AAA NBFCInfrastructure Leasing & Financial Services Ltd. NCD 2003 III 201 CARE AAA NBFCInfrastructure Leasing & Financial Services Ltd. NCD 7000 CARE AAAIntas Pharmaceuticals Ltd. CP/STD 750 PR1+ Drugs & PharmaceuticalsIntas Pharmaceuticals Ltd. NCD 1500 CARE AA Drugs & PharmaceuticalsJ.K. Cement Ltd. STD/CP 500 PR1+ CementJ.K. Tyre & Industries Ltd. CP/STD 400 PR1 TyreJai Balaji Industries Ltd. STD # Machinery/EquipmentsJaiprakash Associates Ltd. STD I 2000 PR1 CementJaiprakash Associates Ltd. STD II 2000 PR1 CementJaiprakash Associates Ltd. CP 5000 PR1 CementJaiprakash Associates Ltd. NCD II 1800 CARE AA(SO) CementJaiprakash Associates Ltd. NCD III 500 CARE A+ CementJaiprakash Associates Ltd. NCD IV 1500 CARE A+ CementJaiprakash Associates Ltd. NCD V 4000 CARE A+ CementJaiprakash Associates Ltd. NCD VI 5000 CARE A+ CementJaiprakash Associates Ltd. NCD VII 5000 CARE A+ CementJaiprakash Associates Ltd. LT Debt I 5000 CARE A+ CementJaiprakash Associates Ltd. LT Debt II 9000 CARE A+ CementJaiprakash Hydro Power Ltd. Secured NCD # InfrastructureJaipur Vidyut Vitran Nigam Ltd. Bonds # Public FinanceJammu & Kashmir Bank Ltd., The Tier II Bonds 6000 CARE AA BankJammu & Kashmir State PowerDevelopment Corpn Ltd. Bonds III 1076 CARE D(SO) Public Finance DJammu & Kashmir State PowerDevelopment Corpn Ltd. Bonds III A 409 CARE D(SO) Public Finance DJammu & Kashmir State PowerDevelopment Corpn Ltd. Bonds IV 1742 CARE D(SO) Public Finance DJayabharat Credit Ltd. FD 480 CARE BB+ NBFCJaypee Infratech Ltd NCD 5000 CARE A+(SO) * InfrastructureJBF Industries Ltd. CP 500 PR1+ TextilesJBF Industries Ltd. NCD 500 CARE A TextilesJindal Power Ltd. STD/CP 5000 PR1+ InfrastructureJindal SAW Ltd. STD/CP 1000 PR1+ MetalsJindal SAW Ltd. NCD I 500 CARE AA- MetalsJindal SAW Ltd. NCD II # MetalsJindal SAW Ltd. RPS 1000 CARE AA-(RPS) MetalsJindal Steel & Power Ltd Secured NCD # MetalsJK Lakshmi Cement Ltd. CP 500 PR1+ CementJK Lakshmi Cement Ltd. ST NCD 200 PR1+ CementJK Lakshmi Cement Ltd. NCD 2500 CARE AA- CementJMC Projects (India) Ltd. STD/CP 1000 PR1+ Construction EJMC Projects (India) Ltd. NCD 600 CARE AA- ConstructionJodhpur Vidyut Vitran Nigam Ltd. Bonds # Public FinanceJSL Ltd. Secured NCD 4300 CARE C Metals DJSL Ltd. Secured NCD II 500 CARE C MetalsJSL Ltd. Subordinate Debt 5000 CARE C Metals DJSL Ltd. CP # Metals DJSW Energy Ltd. Secured NCD $ InfrastructureJSW Steel Ltd. STD 5000 PR1+ MetalsJSW Steel Ltd. MT NCD 2500 CARE AA- Metals DJSW Steel Ltd. NCD I 1000 CARE AA- Metals DJSW Steel Ltd. NCD II 5000 CARE AA- Metals D

NAME OF ISSUER INSTRUMENTAMOUNT(RS. MN) INDUSTRY REMARKSLONG

TERMMEDIUM

TERMSHORTTERM

Page 11: Rating Reckoner CARE

JSW Steel Ltd. NCD III 700 CARE AA- Metals DJSW Steel Ltd. NCD VI 3500 CARE AA- Metals DJSW Steel Ltd. NCD V 10000 CARE AA- Metals DKalpataru Power Transmission Ltd. STD/CP 2000 PR1+ Diversified & Misc EKalpataru Power Transmission Ltd. NCD I 250 CARE AA Diversified & MiscKalpataru Power Transmission Ltd. NCD II 1250 CARE AA Diversified & MiscKanoria Chemicals & Industries Ltd. CP $ Chemicals & PlasticsKarnataka Bank Ltd., The Tier II Bonds I 1500 CARE A+ BankKarnataka Bank Ltd., The Tier II Bonds II 2000 CARE A+ BankKEI Industries Ltd. CP/STD 300 PR2+ Diversified & Misc DKerala State Electricity Board Bonds I % Public FinanceKerala State Electricity Board Bonds II & Public FinanceKerala State Power and InfrastructureFinance Corporation Ltd. Bonds I # Public Finance @Kerala State Power and InfrastructureFinance Corporation Ltd. Bonds II # Public FinanceKerala State Power and InfrastructureFinance Corporation Ltd. Bonds III 3300 CARE BBB(SO) Public Finance D/@Kerala Transport Development Finance Corpn Ltd. FD & Public FinanceKerala Transport Development Finance Corpn Ltd. Bonds I 490 CARE BBB(SO) Public Finance D/@Kerala Transport Development Finance Corpn Ltd. Bonds II 600 CARE BBB(SO) Public Finance D/@Kerala Transport Development Finance Corpn Ltd. Bonds III 316 CARE BBB(SO) Public Finance D/@Kerala Transport Development Finance Corpn Ltd. Bonds III A 434 CARE BBB(SO) Public Finance D/@Kesoram Industries Ltd. CP/STD I 2750 PR1+ Diversified & MiscKesoram Industries Ltd. STD 500 PR1+ Diversified & MiscKesoram Industries Ltd. NCD I 1000 CARE AA Diversified & MiscKesoram Industries Ltd. NCD II 3500 CARE AA Diversified & MiscKhadim India Ltd NCD 500 CARE BBB+ Diversified & MiscKohinoor Foods Ltd. CP/STD # Chemicals & PlasticsKolkata Municipal Corporation, The Bonds # Public FinanceKolte Patil Developers Ltd. STD # ConstructionKonkan Irrigation Dev. Corp. Bonds IV 945 CARE BBB+(SO) Public FinanceKonkan Irrigation Dev. Corp. Bonds V 527.7 CARE BBB+(SO) Public FinanceKonkan Irrigation Dev. Corp. Bonds VI 854.8 CARE BBB+(SO) Public FinanceKonkan Railway Corporation Ltd. Bonds 5960 CARE AAA(SO) InfrastructureKoutons Retail India Ltd. NCD/STD 500 PR4 Diversified & Misc DL&T Finance Ltd. STD/CP 21500 PR1+ NBFCL&T Finance Ltd. STD # NBFCL&T Finance Ltd. FD # NBFCL&T Finance Ltd. NCD 21350 CARE AA+ NBFCL&T Finance Ltd. NCD 150 CARE AA+(SO) NBFCL&T Finance Ltd. NCD 10000 CARE AA+(SO) NBFCL&T Finance Ltd. Subordinated Debt 1500 CARE AA+ NBFCL&T Infrastructure Finance Ltd. STD/CP 5000 PR1+ NBFCLakshmi Vilas Bank Ltd., The Tier II Bonds (Series I) 100 CARE BBB+ Bank DLakshmi Vilas Bank Ltd., The Tier II Bonds (Series II) 300 CARE BBB+ Bank DLakshmi Vilas Bank Ltd., The Tier II Bonds (Series III) 300 CARE BBB+ Bank DLambda Therapeutic Research Ltd CP/STD 180 PR1 Drugs & PharmaceuticalsLanco Industries Ltd. STD 700 PR1+ MetalsLanco Industries Ltd. NCD 450 CARE A+(SO) MetalsLavasa Corporation Ltd DDCD I 2250 CARE BBB+(SO) Real EstateLavasa Corporation Ltd DDCD II 1250 CARE BBB+(SO) Real EstateLavasa Corporation Ltd DDCD III 2000 CARE BBB+(SO) Real EstateLavasa Corporation Ltd DDCD IV 3000 CARE A+(SO) Real EstateLavasa Corporation Ltd PS 250 CARE BBB(SO) Real EstateLIC Housing Finance Ltd. NCD/Bonds (Series I) 9750 CARE AAA NBFCLIC Housing Finance Ltd. NCD/Bonds (Series II) 10000 CARE AAA NBFCLIC Housing Finance Ltd. NCD/Bonds (Series III) 20000 CARE AAA NBFC

11

AMOUNT(RS. MN)NAME OF ISSUER INSTRUMENT INDUSTRY REMARKSLONG

TERMMEDIUM

TERMSHORTTERM

Page 12: Rating Reckoner CARE

LIC Housing Finance Ltd. NCD/Bonds (Series IV) 40000 CARE AAA NBFCLIC Housing Finance Ltd. Subordinate Bonds 5000 CARE AAA NBFCLIC Housing Finance Ltd. Upper Tier II Bonds 5000 CARE AAA NBFCLloyd Electric & Engineering Ltd. STD/CP 650 PR1 Electricals & Electronics DMagma Fincorp Ltd. STD I 7500 PR1+ NBFC EMagma Fincorp Ltd. STD II 5000 PR1+ NBFC EMagma Fincorp Ltd. FD # NBFCMagma Fincorp Ltd. MT Bond/Note I 83.3 CARE AA NBFCMagma Fincorp Ltd. MT Bond/Note II 300 CARE AA NBFCMagma Fincorp Ltd. MT Bond/Note III 200 CARE AA NBFCMagma Fincorp Ltd. MT Bond/Note IV 500 CARE AA NBFCMagma Fincorp Ltd. MT Bond/Note V 500 CARE AA NBFCMagma Fincorp Ltd. MT Bond/Note VI 1500 CARE AA NBFCMagma Fincorp Ltd. MT Bond/Note VII 2500 CARE AA NBFCMagma Fincorp Ltd. LT Borrowing # NBFCMagma Fincorp Ltd. Bonds/Note 1500 CARE AA NBFCMagma Fincorp Ltd. Tier II Bonds I 1500 CARE AA- NBFCMagma Fincorp Ltd. Tier II Bonds II 1000 CARE AA- NBFCMagma Fincorp Ltd. Perpetual Debt 400 CARE A+ NBFCMagma Fincorp Ltd. Preference Shares 300 CARE AA- NBFCMaharashtra Jeevan Pradhikaran Bonds 1543.4 CARE BBB -(SO) Public FinanceMaharashtra Krishna Valley Development Corpn Bonds 2000/B 7310.9 CARE BBB+(SO) Public FinanceMaharashtra Krishna Valley Development Corpn Bonds 2001/A 4396.9 CARE BBB+(SO) Public FinanceMaharashtra Krishna Valley Development Corpn Bonds 2003/A 4123.3 CARE BBB+(SO) Public FinanceMaharashtra Patbandhare Vittiya Co. Ltd. Bonds 2163 CARE BBB+(SO) Public FinanceMaharashtra State Road Development Corpn Ltd. Bonds II 3872 CARE BBB+(SO) Public FinanceMaharashtra State Road Development Corpn Ltd. Bonds VIII 1870 CARE BBB+(SO) Public FinanceMaharashtra State Road Development Corpn Ltd. Bonds IX 358 CARE BBB+(SO) Public FinanceMaharashtra State Road Development Corpn Ltd. Bonds X 480 CARE BBB+(SO) Public FinanceMaharashtra State Road Development Corpn Ltd. Bonds XIV 400 CARE BBB+(SO) Public FinanceMaharashtra State Road Development Corpn Ltd. Bonds XVI 1294 CARE BBB+(SO) Public FinanceMaharashtra State Road Development Corpn Ltd. Bonds XVII 672.5 CARE BBB+(SO) Public FinanceMaharashtra State Road Development Corpn Ltd. Bonds XVIII 1756 CARE BBB+(SO) Public FinanceMaharashtra State Road Development Corpn Ltd. Bonds XIX 1500 CARE BBB+(SO) Public FinanceMaharashtra State Road Development Corpn Ltd. Bonds XX 700 CARE BBB+(SO) Public FinanceMaharashtra State Road Development Corpn Ltd. Bonds XXI 550 CARE BBB+(SO) Public FinanceMaharashtra State Road Development Corpn Ltd. Bonds XXII 1320 CARE BBB+(SO) Public FinanceMaharashtra State Road Development Corpn Ltd. Bonds XXIII 3800 CARE BBB+(SO) Public FinanceMaharashtra Water Conservation Corporation Bonds III 2.3 CARE BBB- (SO) Public FinanceManaksia Ltd. STD/CP 1600 PR1+ Diversified & MiscManaksia Ltd. Term Borrowing/NCD 600 CARE AA Diversified & MiscManipal Housing Finance Syndicate Ltd. FD 68.5 CARE BBB+ NBFCMcNally Bharat Engineering Co. Ltd. ST Loan/CP 400 PR1+ ConstructionMercator Lines Ltd STD 1000 PR1+ Diversified & MiscMercator Lines Ltd NCDs 3506.3 CARE AA Diversified & MiscMercator Lines Ltd NCD 2000 CARE AA Diversified & MiscMercator Lines Ltd Pref Shares 1000 CARE AA- Diversified & MiscMicro Finance Ltd. FD & NBFCMicro Inks Ltd. CP/STD 1000 PR1+ Chemicals & Plastics EMMTC Ltd. CP 5000 PR1+ Diversified & MiscMonnet Ispat & Energy Ltd. STD/CP 2500 PR1+ MetalsMonnet Ispat & Energy Ltd. NCD/Bonds 3000 CARE A+ MetalsMorgan Stanley India Capital Private Ltd Equity Linked Debenture 20000 CARE AAA(SO) (mr) NBFCMRF Ltd. CP 2000 PR1+ TryesMSEB Holding Company Bonds VII 720.5 CARE BBB-(SO) Public Finance @MSEB Holding Company Bonds VIII 80.6 CARE BBB-(SO) Public Finance @MSTC Ltd. STD # Metals

12

NAME OF ISSUER INSTRUMENT INDUSTRY REMARKSLONGTERM

MEDIUMTERM

SHORTTERM

AMOUNT(RS. MN)

Page 13: Rating Reckoner CARE

Mukand Ltd. STD 750 PR4 Automobiles & Auto Ancilliaries DMundra Port & Special Economic Zone Ltd. NCD 2500 CARE AA(SO) * InfrastructureMysore Paper Mills ltd. NCD 350 CARE AA-(SO) PaperNagarjuna Fertilzers & Chemicals Ltd. PS 243.9 CARE BBB- Chemicals & Plastics UNandi Economic Corridor Enterprise Ltd. NCD 1750 CARE BBB(SO) InfrastructureNarmada Hydroelectric Development Bonds 29000 CARE AA(SO) InfrastructureCorporation Ltd.National Bank for Agriculture and CP/CD 20000 PR1+ Financial InstitutionRural DevelopmentNational Bank for Agriculture and Bonds NPSB II 7500 CARE AAA Financial InstitutionRural DevelopmentNational Bank for Agriculture and Bonds NPSB III 10000 CARE AAA Financial InstitutionRural DevelopmentNational Bank for Agriculture and Bonds NPSB VII E 3090 CARE AAA Financial InstitutionRural DevelopmentNational Bank for Agriculture and Bonds NPSB VIII 45252 CARE AAA Financial InstitutionRural DevelopmentNational Bank for Agriculture and Bonds NPSB IX 61275 CARE AAA Financial InstitutionRural DevelopmentNational Bank for Agriculture and Bonds BNB I 85.96 CARE AAA Financial InstitutionRural DevelopmentNational Bank for Agriculture and Bonds BNB II 41952.32 CARE AAA Financial InstitutionRural DevelopmentNational Bank for Agriculture and Bonds BNB April 08 655.02 CARE AAA Financial InstitutionRural DevelopmentNational Bank for Agriculture and CD 15450 CARE AAA Financial InstitutionRural DevelopmentNational Bank for Agriculture and Umbrella Borrowing 37831.7 CARE AAA Financial InstitutionRural Development (unutilised limit)National Bank for Agriculture and Umbrella Borrowing 20000 CARE AAA Financial InstitutionRural DevelopmentNational Engineering Industries Ltd. STD/CP I 300 PR1+ Machinery/EquipmentsNational Engineering Industries Ltd. STD/CP II 600 PR1+ Machinery/EquipmentsNational Highways Authority of India Bonds 25000 CARE AAA InfrastructureNational Highways Authority of India Bonds 54EC 40000 CARE AAANational Housing Bank Bonds 18000 CARE AAA BankNational Housing Bank LT Market Borrowing 100000 CARE AAA BankNational Textile Corporation Ltd. Bonds VII # TextileNational Textile Corporation Ltd. Bonds VIII # TextileNational Textile Corporation Ltd. Bonds IX 1179 CARE AAA(SO) TextileNava Bharat Ferro Alloys Ltd. FD & MetalsNeelachal Ispat Nigam Ltd. Bonds I # MetalsNeelachal Ispat Nigam Ltd. Bonds II 300 CARE AA(SO) MetalsNeelachal Ispat Nigam Ltd. Bonds III 160 CARE AA(SO) MetalsNeelachal Ispat Nigam Ltd. Bonds IV 2000 CARE AA(SO) MetalsNeesa Leisure Ltd. DDBs 400 CARE BBB+ Diversified & MiscNeesa Leisure Ltd. NCD 300 CARE BBB+ Diversified & MiscNewlink Overseas Finance Ltd. FD 180 CARE BBB NBFCNilkamal Ltd NCD $ Chemicals & PlasticsNilkamal Ltd. CP/STD 1250 PR1+ Chemicals & Plastics ENoida Toll Bridge Company Ltd. DDBs 54 CARE A- InfrastructureNuclear Power Corp. of India Ltd. Bonds (Series 14) 1000 CARE AAA InfrastructureNuclear Power Corp. of India Ltd. Bonds (Series 18) 700 CARE AAA InfrastructureNuclear Power Corp. of India Ltd. Bonds (Series 19) 350 CARE AAA InfrastructureNuclear Power Corp. of India Ltd. Bonds (Series 20) 5500 CARE AAA InfrastructureNuclear Power Corp. of India Ltd. Bonds (Series 21) 1390 CARE AAA InfrastructureNuclear Power Corp. of India Ltd. Bonds (Series 22) 8200 CARE AAA InfrastructureNuclear Power Corp. of India Ltd. Bonds (Series 23) 1770 CARE AAA InfrastructureNuclear Power Corp. of India Ltd. Bonds (Series 24) 500 CARE AAA Infrastructure

13

NAME OF ISSUER INSTRUMENT INDUSTRY REMARKSLONGTERM

MEDIUMTERM

SHORTTERM

AMOUNT(RS. MN)

Page 14: Rating Reckoner CARE

14

Nuclear Power Corp. of India Ltd. Bonds (Series 25) 13500 CARE AAA InfrastructureOCL (India) Ltd NCD 100 CARE AA- CementOmaxe Ltd. STD I # ConstructionOmaxe Ltd. STD II # Construction DOrient Paper & Industries Ltd. Bonds/NCD 1000 CARE AA- Diversified & Misc UOriental Bank of Commerce Tier II Bonds (Series I) 5000 CARE AAA BankOriental Bank of Commerce Tier II Bonds(Series II) 5000 CARE AAA BankOriental Bank of Commerce Tier II Bonds(Series III) 3000 CARE AAA BankOriental Bank of Commerce Upper Tier II Bonds (Series I) 5000 CARE AA+ BankOriental Bank of Commerce Upper Tier II Bonds (Series II) 1000 CARE AA+ BankOriental Bank of Commerce Upper Tier II Bonds (Series II) 5000 CARE AA+ BankOriental Bank of Commerce Perpetual Bonds I 2500 CARE AA+ BankOriental Bank of Commerce Perpetual Bonds II 3000 CARE AA+ BankORIX Auto Infrastructure Services Ltd. ST Borrowings/CP # NBFCPanacea Biotec Ltd. CP 1000 PR1 Drugs & PharmaceuticalsPantaloon Retail (India) Ltd. CP 2000 PR1+ Consumer Goods @Pantaloon Retail (India) Ltd. NCD 2500 CARE A- Consumer Goods @Parekh Aluminex Ltd. CP/STD/NCD 300 PR1+ MetalsParsvnath Developers Ltd. STD # ConstructionParsvnath Developers Ltd. NCD # ConstructionPatel Engineering Ltd. STD 4000 PR1+ ConstructionPatel Engineering Ltd. NCD 2000 CARE AA ConstructionPeerless Abasan Finance Ltd. FD & NBFCPeninsula Land Ltd. STD # ConstructionPeninsula Land Ltd. NCD # ConstructionPhilips Carbon Black Ltd. Term Loan 2000 CARE A+ Electricals & ElectronicsPMT Machines Ltd. CP/STD 250 PR1 Diversified & MiscPNB Housing Finance Ltd. Bond II 400 CARE AA+ NBFCPNB Housing Finance Ltd. Bond III & IV 2000 CARE AA+ NBFCPNB Housing Finance Ltd. Bonds V & VI 2000 CARE AA+ NBFCPNB Housing Finance Ltd. Bonds VII & VIII 3000 CARE AA+ NBFCPNB Housing Finance Ltd. Bonds IX 2000 CARE AA+ NBFCPNB Housing Finance Ltd. Tier II Bonds 1000 CARE AA+ NBFCPolyplex Corporation Ltd. CP/STD $ Chemicals & PlasticsPolyplex Corporation Ltd. NCD I # Chemicals & PlasticsPolyplex Corporation Ltd. NCD II # Chemicals & PlasticsPolyplex Corporation Ltd. NCD III # Chemicals & PlasticsPower Grid Corporation of India Ltd. Bonds I 17040 CARE AAA InfrastructurePower Grid Corporation of India Ltd. Bonds II 36975 CARE AAA InfrastructurePower Grid Corporation of India Ltd. Bonds III 68780 CARE AAAPratibha Industries Ltd. NCD 600 CARE APriyadarshini Spinning Mills Ltd. FD &Punj Lloyd Ltd. CP/STD 3500 PR1+ Infrastructure EPunj Lloyd Ltd. NCD I 1500 CARE AA InfrastructurePunj Lloyd Ltd. NCD II 6000 CARE AA InfrastructurePunjab & Sind Bank Tier II Bonds I 4000 CARE AA BankPunjab & Sind Bank Tier II Bonds II 1750 CARE AA BankPunjab & Sind Bank Upper Tier II Bonds 3500 CARE AA- BankPunjab Infrasturcture Development Board Bonds I 1500 CARE BBB+(SO) Public Finance DPunjab Infrasturcture Development Board Bonds II 5000 CARE BBB+(SO) Public Finance DPunjab Infrasturcture Development Board Bonds III 12500 CARE BBB+(SO) Public Finance DPunjab National Bank CD 400000 PR1+ BankPunjab National Bank Upper Tier II Bonds (Series I) 5000 CARE AAA BankPunjab National Bank Upper Tier II Bonds (Series II) 5000 CARE AAA BankPunjab National Bank Upper Tier II Bonds (Series III) 20000 CARE AAA BankPunjab National Bank Upper Tier II Bonds (Series IV) 10000 CARE AAA BankPunjab National Bank Upper Tier II Bonds (Series V) 20000 CARE AAA

NAME OF ISSUER INSTRUMENT INDUSTRY REMARKSLONGTERM

MEDIUMTERM

SHORTTERM

AMOUNT(RS. MN)

Page 15: Rating Reckoner CARE

15

Punjab National Bank Lower Tier II Bonds 5000 CARE AAA BankPunjab National Bank Perpetual Bonds (Series I) 5000 CARE AAA BankPunjab National Bank Perpetual Bonds (Series II) 9000 CARE AAA BankPunjab National Bank Perpetual Bonds (Series III) 7000 CARE AAA BankPunjab State Electricity Board Bonds I 1818 CARE A-(SO) Public FinancePunjab State Electricity Board Bonds II 5000 CARE A-(SO) Public FinanceQRG Entrerprises Ltd. NCD # Electricals & ElectronicsRajasthan Rajya Vidhyut Prasaran Nigam Ltd. Bonds I 826 CARE A(SO) Public FinanceRajasthan Rajya Vidhyut Prasaran Nigam Ltd. Bonds II 780 CARE A(SO) Public FinanceRajasthan Rajya Vidhyut Prasaran Nigam Ltd. Bonds III 705 CARE A(SO) Public FinanceRajasthan Rajya Vidhyut Utpadan Nigam Ltd. Bonds # Public FinanceRajasthan State Mines & Minerals Ltd. NCD # InfrastructureRajasthan State Road Development & Bonds # Public FinanceConstruction Corpn Ltd.Rajasthan State Road Transport Corpn Bonds # Public FinanceRamsarup Industries Ltd. STD/CP 600 PR3 Metals DRamsarup Industries Ltd. STD # MetalsRatnakar Bank Ltd., The Tier II Subordinated Bond 38 CARE BBB BankRaymond Apparel Ltd. CP/STD 500 PR1+ TextileRaymond Ltd. Mibor Linked CP/STD 2250 PR1+ Diversified & MiscRaymond Ltd. FD # Diversified & MiscRei Agro Ltd. STD 10000 PR1 Diversified & MiscRei Agro Ltd. NCD 5000 CARE A Diversified & MiscRei Agro Ltd. FCD $ Diversified & MiscRei Agro Ltd. LT Borrowing # Diversified & MiscReliance Capital Ltd. LT Debt 70000 CARE AAA NBFC EReliance Communications Ltd. CP/STD 35000 PR1+ InfrastructureReliance Infratel Ltd CP/STD 15000 PR1+ InfrastructureReliance Ports & Terminals Ltd. NCD I 5000 CARE AAA(SO) InfrastructureReliance Ports & Terminals Ltd. NCD II 10000 CARE AAA(SO) InfrastructureReliance Utilities and Power (Pvt.) Ltd. NCD 5000 CARE AAA(SO) InfrastructureRural Electrification Corporation Ltd. LT Borrowing Programme- I 25848 CARE AAA Financial InstitutionRural Electrification Corporation Ltd. LT Borrowing Programme - II 71777 CARE AAA Financial InstitutionRural Electrification Corporation Ltd. Bonds 750 CARE AAA(SO) Financial InstitutionRural Electrification Corporation Ltd. LT Borrowing Programme (06-07) 78670 CARE AAA Financial InstitutionRural Electrification Corporation Ltd. LT Borrowing Programme (07-08) 16690 CARE AAA Financial InstitutionRural Electrification Corporation Ltd. LT Borrowing Programme (08-09) 160000 CARE AAA Financial InstitutionRural Electrification Corporation Ltd. LT Borrowing Programme (09-10) 300000 PR1+ CARE AAAS. Chand & Co. Ltd. CP 100 PR1 Diversified & MiscSadbhav Engineering Ltd. CP/STD 1000 PR1+ Machinery/EquipmentsSadbhav Engineering Ltd. NCD 600 CARE AA- Machinery/EquipmentsSanmar Speciality Chemicals Ltd. NCD $ Chemicals & PlasticsSarda Energy & Minerals Ltd. NCD 1000 CARE AA- Infrastructure USardar Sarovar Narmada Nigam Ltd. Bonds III & IV 5100 CARE A-(SO) Public FinanceSardar Sarovar Narmada Nigam Ltd. Bonds V 16000 CARE A-(SO) Public FinanceSardar Sarovar Narmada Nigam Ltd. Bonds VI 5000 CARE A-(SO) Public FinanceSardar Sarovar Narmada Nigam Ltd. Bonds VII 7000 CARE A-(SO) Public FinanceSardar Sarovar Narmada Nigam Ltd. Bonds VIII 5500 CARE A-(SO) Public FinanceSBI Factors & Commercial Services Pvt. Ltd. Subordinated Bond 300 CARE AAA NBFC @Secure Meters Ltd. STD 600 PR1 Electricals & Electronics DSecure Meters Ltd. NCD 500 CARE A+ Electricals & Electronics DShah Alloys Ltd. NCD # MetalsShree Cement Ltd. STD 6000 PR1+ CementShree Cement Ltd. NCD I # CementShree Cement Ltd. NCD II 5000 CARE AA+ CementShree Maheshwar Hydel Power Corporation Ltd. OFCD 4000 CARE AAA(SO) InfrastructureShreyas Shipping & Logistics Ltd. RPS 91 CARE BB+(RPS) Diversified & Misc DShri Lakshmi Cotsyn Ltd. NCD 500 CARE BBB+ Textile

NAME OF ISSUER INSTRUMENT INDUSTRY REMARKSLONGTERM

MEDIUMTERM

SHORTTERM

AMOUNT(RS. MN)

Page 16: Rating Reckoner CARE

Shriram City Union Finance Ltd STD 200 PR1+ NBFCShriram City Union Finance Ltd FD 100 CARE AA-Shriram City Union Finance Ltd NCD 1000 CARE AA- NBFCShriram Transport Finance Co. Ltd. NCD I 5500 CARE AA+ NBFCShriram Transport Finance Co. Ltd. NCD II 5000 CARE AA+ NBFCShriram Transport Finance Co. Ltd. NCD III 10000 CARE AA+Shriram Transport Finance Co. Ltd. Subordinated Debt I 3000 CARE AA NBFCShriram Transport Finance Co. Ltd. Subordinated Debt II 3000 CARE AA NBFCSimplex Infrastructure Ltd. STD/CP 7500 PR1+ ConstructionSimplex Infrastructure Ltd. STD 1500 PR1+ ConstructionSimplex Infrastructure Ltd. LT Borrowing/NCD 2000 CARE AA- ConstructionSimplex Projects Ltd. CP 500 PR1 ConstructionSintex Industries Ltd CP 1500 PR1+ Chemicals & PlasticsSintex Industries Ltd NCD I 45 CARE AA+ Chemicals & PlasticsSintex Industries Ltd NCD II 2500 CARE AA+ Chemicals & PlasticsSKS Microfinance Ltd. ST NCD I 250 PR1+ NBFC USKS Microfinance Ltd. ST NCD II 1000 PR1+ NBFCSKS Microfinance Ltd. CP 1000 PR1+ NBFCSmall Industries Dev. Bank of India CP/CD 40000 PR1+ Financial Institution ESmall Industries Dev. Bank of India FD 20000 CARE AAA Financial InstitutionSmall Industries Dev. Bank of India Capital Gains Bonds 25310.9 CARE AAA Financial InstitutionSmall Industries Dev. Bank of India Priority Sector Bonds # Financial InstitutionSmall Industries Dev. Bank of India Unsecured Borrowing Programme 13216 CARE AAA Financial InstitutionSmall Industries Dev. Bank of India Unsecured Bonds 10000 CARE AAA Financial InstitutionSobha Developers Ltd. STD 500 PR4 ConstructionSoma Textiles & Industries Ltd. FCD # TextileSouth Asian Petrochem Ltd. STD/CP 1000 PR1+ Chemicals & Plastics @South Asian Petrochem Ltd. FCD # Chemicals & PlasticsSouth Indian Bank Ltd., The CD 7000 PR1+ BanksSouth Indian Bank Ltd., The Tier II Bonds I 650 CARE A+ Bank USouth Indian Bank Ltd., The Tier II Bonds II 2000 CARE A+ BankSouth West Port Ltd. NCD IV 853.3 CARE A InfrastructureSouth West Port Ltd. NCD V 796.7 CARE A InfrastructureSouthern Petrochemical Ind. Corp. Ltd. NCD I 1000 CARE D FertilizerSouthern Petrochemical Ind. Corp. Ltd. NCD II 500 CARE D FertilizerSouthern Petrochemical Ind. Corp. Ltd. NCD III 500 CARE D FertilizerSpanco Ltd. CP/STD 500 PR3 Diversified & MiscSpanco Ltd. CP/STD 500 PR3 Diversified & MiscSpanco Ltd. NCD 920 CARE BBB Diversified & MiscSpentex Industries Ltd. Secured NCD 36.1 CARE D TextileSreeragh General Finance Ltd. FD 23.6 CARE BBB NBFCSrei Equipment Finance Pvt. Ltd. STD 7500 PR1+ NBFCSrei Equipment Finance Pvt. Ltd. STD 2500 PR1+ NBFCSrei Equipment Finance Pvt. Ltd. Secured Bond IV 500 CARE AA NBFCSrei Equipment Finance Pvt. Ltd. Secured Bond VI 1530 CARE AA NBFCSrei Equipment Finance Pvt. Ltd. Secured Bond VII 10000 CARE AA NBFCSrei Equipment Finance Pvt. Ltd. Secured Bond VIII 500 CARE AA NBFCSrei Equipment Finance Pvt. Ltd. Secured Bond IX 500 CARE AA NBFCSrei Equipment Finance Pvt. Ltd. NCD III 69.8 CARE AA NBFCSrei Equipment Finance Pvt. Ltd. NCD V # NBFCSrei Equipment Finance Pvt. Ltd. NCD VI 250.1 CARE AA NBFCSrei Equipment Finance Pvt. Ltd. NCD I (Tier II) 1000 CARE AA- NBFCSrei Equipment Finance Pvt. Ltd. NCD II (Tier II) 1000 CARE AA- NBFCSrei Infrastructure Finance Ltd. STD 5000 PR1+ NBFCSrei Infrastructure Finance Ltd. FD 250 CARE AA NBFCSrei Infrastructure Finance Ltd. NCD IV % NBFCSrei Infrastructure Finance Ltd. Secured Bonds I 2500 CARE AA NBFCSrei Infrastructure Finance Ltd. Mezzanine Capital 289.6 CARE AA- NBFC

16

NAME OF ISSUER INSTRUMENT INDUSTRY REMARKSLONGTERM

MEDIUMTERM

SHORTTERM

AMOUNT(RS. MN)

Page 17: Rating Reckoner CARE

17

Srei Infrastructure Finance Ltd. NCD I (Tier II) 500 CARE AA- NBFCState Bank of Bikaner & Jaipur Upper Tier II Bonds (Series I) 1500 CARE AAA BankState Bank of Bikaner & Jaipur Upper Tier II Bonds (Series II) 3000 CARE AAA BankState Bank of Bikaner & Jaipur Perpetual Bonds 2000 CARE AAA BankState Bank of Hyderabad Tier II Bonds (Series I) 5500 CARE AAA BankState Bank of Hyderabad Tier II Bonds (Series II) 1600 CARE AAA BankState Bank of Hyderabad Upper Tier II Bonds I 5000 CARE AAA BankState Bank of Hyderabad Upper Tier II Bonds II 3250 CARE AAA BankState Bank of Hyderabad Upper Tier II Bonds III 9250 CARE AAA BankState Bank of Hyderabad Perpetual Bonds 3500 CARE AAA BankState Bank of India Tier II Bonds (Series I) 32830 CARE AAA BankState Bank of India Tier II Bonds (Series II) 4250 CARE AAA BankState Bank of India Tier II Bonds (Series III) 15000 CARE AAA BankState Bank of India Tier II Bonds (Series IV) 10000 CARE AAA BankState Bank of India Upper Tier II Bonds (Series I) 23279 CARE AAA BankState Bank of India Upper Tier II Bonds (Series II) 16150 CARE AAA BankState Bank of India Upper Tier II Bonds (Series III) 25235 CARE AAA BankState Bank of India Upper Tier II Bonds (Series IV) 35000 CARE AAA BankState Bank of India Upper Tier II Bonds (Series V) 25000 CARE AAA BankState Bank of India Upper Tier II Bonds (Series VI) 20000 CARE AAA BankState Bank of India Upper Tier II Bonds (Series VII) 10000 CARE AAA BankState Bank of India Perpetual Bonds 10000 CARE AAA BankState Bank of Indore Upper Tier II Bonds (Series I) 1000 CARE AAA BankState Bank of Indore Upper Tier II Bonds (Series II) 2000 CARE AAA BankState Bank of Indore Upper Tier II Bonds (Series III) 2500 CARE AAA BankState Bank of Indore Perpetual Bonds 1650 CARE AAA BankState Bank of Mysore Upper Tier II Bonds 6400 CARE AAA BankState Bank of Mysore Perpetual Bonds 1600 CARE AAA BankState Bank of Patiala Tier II Bonds 7500 CARE AAA BankState Bank of Patiala Upper Tier II Bonds (Series I) 5000 CARE AAA BankState Bank of Patiala Upper Tier II Bonds (Series II) 10000 CARE AAA BankState Bank of Patiala Perpetual Bonds 3000 CARE AAA BankState Bank of Travancore Tier II Bonds 2350 CARE AAA BankState Bank of Travancore Perpetual Bonds (I) 2000 CARE AAA BankState Bank of Travancore Perpetual Bonds (II) 1000 CARE AAA BankState Bank of Travancore Upper Tier II Bonds (I) 2000 CARE AAA BankState Bank of Travancore Upper Tier II Bonds (II) 3000 CARE AAA BankSteel Authority of India Ltd. CP/ICD 40000 PR1+ MetalsSteel Authority of India Ltd. Bonds I 640 CARE AAA(SO) MetalsSteel Authority of India Ltd. Bonds II 20000 CARE AAA MetalsSteel Authority of India Ltd. Bonds III 40000 CARE AAA MetalsSteel Authority of India Ltd. Public Deposit 10000 CARE AAA MetalsSterling Biotech Ltd. STD 1000 PR1 Drugs & PharmaceuticalsSterling Biotech Ltd. NCD 3000 CARE A Drugs & Pharmaceuticals DStewarts & Lloyds of India Ltd. STD 200 PR1 ConstructionSundaram BNP Paribas Home Finance Ltd. NCD 1000 CARE AA+ NBFCSunflag Iron & Steel Co. Ltd. CP # MetalsSurya Roshni Ltd. CP # Electricals & ElectronicsSurya Roshni Ltd. NCD # Electricals & ElectronicsSyndicate Bank CD 100000 PR1+ BankSyndicate Bank Tier II Bonds (Series I) 2000 CARE AA+ BankSyndicate Bank Tier II Bonds (Series II) 5000 CARE AA+ BankSyndicate Bank Tier II Bonds (Series III) 5000 CARE AA+ BankSyndicate Bank Upper Tier II Bonds 8197 CARE AA BankSyndicate Bank Perpetual Bonds (Series I) 2400 CARE AA BankSyndicate Bank Perpetual Bonds (Series II) 3390 CARE AA BankSyndicate Bank Perpetual Bonds (Series III) 3390 CARE AA

NAME OF ISSUER INSTRUMENT INDUSTRY REMARKSLONGTERM

MEDIUMTERM

SHORTTERM

AMOUNT(RS. MN)

Page 18: Rating Reckoner CARE

TAG Offshore Ltd NCD 120 CARE BBB+ InfrastructureTamilnadu Electricity Board Bonds I 6000 CARE A+(SO) Public FinanceTamilnadu Electricity Board Bonds II 10000 CARE A+(SO) Public FinanceTantia Construction Ltd. STD 500 PR1 ConstructionTantia Construction Ltd. LT Borrowing 100 CARE A ConstructionTapi Irrigation Dev. Corporation Bonds III # Public FinanceTapi Irrigation Dev. Corporation Bonds IV 447.1 CARE BBB+(SO) Public FinanceTapi Irrigation Dev. Corporation Bonds V 1815.8 CARE BBB+(SO) Public FinanceTapi Irrigation Dev. Corporation Bonds VI 412.3 CARE BBB+(SO) Public FinanceTATA Capital Ltd. NCD 15000 CARE AA+ NBFCTATA Capital Ltd. Subordinate Debt 10000 CARE AATATA Capital Ltd. NCD I 7500 CARE AA+ NBFCTATA Capital Ltd. NCD II 1000 CARE AA+ NBFCTATA Chemicals Ltd. NCD I 2400 CARE AA+ ConstructionTATA Chemicals Ltd. NCD II 2500 CARE AA+TATA Chemicals Ltd. NCD III 1500 CARE AA+TATA Coffee Ltd. NCD (Part of PCD Issue) 2483.3 CARE AA Consumer GoodsTATA Communications Ltd. STD I 5000 PR1+ InfrastructureTATA Communications Ltd. STD II 10000 PR1+ InfrastructureTATA Communications Ltd. NCD 15500 CARE AAATATA Reality & Infrastructure Ltd. STD 2000 PR1+ InfrastructureTATA Steel Ltd. NCD I 20000 CARE AA+ MetalTATA Steel Ltd. NCD II 10000 CARE AA+ MetalTech Mahindra Ltd. STD/CP 2750 PR1+ Diversified & MiscTech Mahindra Ltd. NCD I 6000 CARE AAA Diversified & MiscTech Mahindra Ltd. NCD II 3000 CARE AAA Diversified & MiscThirumalai Chemicals Ltd. CP/STD # Chemicals & Plastics DTIL Ltd. STD 700 PR1+ @ Machinery/EquipmentsTIL Ltd. FD # Machinery/EquipmentsTIL Ltd. NCD $ Machinery/EquipmentsTourism Finance Corporation of India Ltd. Bonds I 832.9 CARE A+ Financial Institution UTourism Finance Corporation of India Ltd. Bonds II 1000 CARE A+ Financial InstitutionTractor Engineers Ltd. CP/STD 50 PR1+ Machinery/EquipmentsTransformers & Rectifiers (India) Ltd. STD/CP 200 PR1+ Machinery/EquipmentsTrent Ltd. CP 1000 PR1+ Diversified & MiscTrent Ltd. MT NCD 1000 CARE AA- Diversified & MiscTrent Ltd. NCD (Part of PCD Issue) 655 CARE AA- Diversified & MiscTRF Ltd. STD 900 PR1+ Machinery/EquipmentsTRIL Infopark Ltd. STD 5000 PR1+(SO) InfrastructureTulip Telecom Ltd. STD/CP 1000 PR1 Diversified & MiscTulip Telecom Ltd. NCD 2000 CARE A+ Diversified & MiscU.M. Cables Ltd. STD # MetalsUCO Bank Tier II Bonds (Series IV) 3000 CARE AA BankUCO Bank Tier II Bonds (Series V) 2500 CARE AA BankUCO Bank Tier II Bonds (Series VI) 1500 CARE AA BankUCO Bank Tier II Bonds (Series VII) 2500 CARE AA BankUCO Bank Tier II Bonds (Series X) 3750 CARE AA BankUCO Bank Upper Tier II Bonds (Series I) 3000 CARE AA- BankUCO Bank Upper Tier II Bonds (Series III) 3200 CARE AA- BankUCO Bank Perpetual Bonds (Series I) 1500 CARE AA- BankUIC Udyog Ltd. STD 130 PR1 MetalsUnion Bank of India Tier II Bonds 8000 CARE AAA Bank UUnison Hotels Ltd NCD I # HotelUnitech Ltd. CP/STD # Construction DUnitech Ltd. NCD # Construction DUnited Bank of India Unsecured Redeemable Promissory Note 3000 CARE AA BankUnited Bank of India Tier II Bonds (III) 1000 CARE AA Bank

18

NAME OF ISSUER INSTRUMENT INDUSTRYLONGTERM

MEDIUMTERM

SHORTTERM

AMOUNT(RS. MN)

REMARKS

Page 19: Rating Reckoner CARE

19

United Bank of India Tier II Bonds (IV) 2000 CARE AA BankUnited Bank of India Tier II Bonds (V) 1000 CARE AA BankUnited Bank of India Tier II Bonds (VI) 2500 CARE AA BankUnited Bank of India Tier II Bonds (VII) 5000 CARE AA BankUnited Bank of India Upper Tier II Bonds 5750 CARE AA- BankUnited Phosphorous Ltd. CP 7000 PR1+ PesticidesUnited Phosphorous Ltd. NCD I 600 CARE AA+ Pesticides UUnited Phosphorous Ltd. NCD II 200 CARE AA+ Pesticides UUnited Phosphorous Ltd. NCD III 5000 CARE AA+ PesticidesUpper Ganges Sugar & Industries Ltd. STD $ Consumer GoodsUsha Martin Ltd. STD I 3750 PR1+ MetalsUsha Martin Ltd. STD II 1000 PR1+ MetalsUsher Agro Ltd. NCD #Utkal Alumina International Ltd. CP/NCD 5000 PR1+(SO) Diversified & MiscValecha Enginnering Ltd. CP 500 PR1 ConstructionVarahi Pvt. Ltd. CP # Chemicals & PlasticsVarsana Ispat Ltd. CP 100 PR3 MetalsViceroy Hotels Ltd. NCD 500 CARE BBB+ Hotel DVidarbha Irrigation Dev. Corporation Bonds V 679.4 CARE BBB+(SO) Public FinanceVidarbha Irrigation Dev. Corporation Bonds VI 1266.9 CARE BBB+(SO) Public FinanceVidarbha Irrigation Dev. Corporation Bonds VII 922.6 CARE BBB+(SO) Public FinanceVidarbha Irrigation Dev. Corporation Bonds VIII 173 CARE BBB+(SO) Public FinanceVideocon Industries Ltd. NCD 1350 CARE AA+(SO) Electricals & ElectronicsVijaya Bank CD 80000 PR1+ Bank EVijaya Bank Tier II Bonds (Series I) 2500 CARE AA+ BankVijaya Bank Tier II Bonds (Series II) 2500 CARE AA+ BankVijaya Bank Tier II Bonds (Series III) 2000 CARE AA+ BankVijaya Bank Tier II Bonds (Series IV) 2000 CARE AA+ BankVijaya Bank Upper Tier II Bonds (Series I) 3000 CARE AA BankVijaya Bank Upper Tier II Bonds (Series II) 3000 CARE AA BankVishal Retail Ltd. # Consumer GoodsWelspun Gujarat Stahl Rohren Ltd CP 2000 PR1+ MetalsWelspun Gujarat Stahl Rohren Ltd. NCD 3000 CARE A+ MetalsWelspun India Ltd CP 500 PR1 TextileWelspun India Ltd. OFCD $ TextileWest Bengal Financial Corporation Non-SLR Bonds I 399 CARE BBB+(SO) Public FinanceWest Bengal Financial Corporation Non-SLR Bonds II 92.6 CARE BBB+(SO) Public FinanceWest Bengal Infrastructure Development Bonds I 9995.5 CARE A-(SO) Public FinanceFinance Corpn Ltd.West Bengal Infrastructure Development Bonds II 7624.1 CARE A-(SO) Public FinanceFinance Corpn Ltd.West Bengal Infrastructure Development Bonds III 10000 CARE A(SO) Public FinanceFinance Corpn Ltd.West Bengal Infrastructure Development Bonds IV 10000 CARE A(SO) Public FinanceFinance Corpn Ltd.West Bengal Infrastructure Development Bonds V 10000 CARE A(SO) Public FinanceFinance Corpn Ltd.West Bengal State Electricity Transmission Co. Ltd. Bonds 2000 CARE AWest Coast Paper Mills Ltd., The CP 250 PR1+ PaperWest Coast Paper Mills Ltd., The RPS #West Coast Paper Mills Ltd., The Bonds 650 CARE A+ PaperWire & Wireless (India) Ltd. NCD 2000 CARE AA(SO) Diversified & MiscWPIL Ltd. CP/STD 150 PR2+ Diversified & Misc UYes Bank Ltd. Tier II Bonds Series I 1800 CARE AA- BankYes Bank Ltd. Tier II Bonds Series II 549 CARE AA- BankYes Bank Ltd. Upper Tier II Bonds Series I 2006 CARE A+ BankYes Bank Ltd. Upper Tier II Bonds Series II 1920 CARE A+ BankYes Bank Ltd. Perpetual Bonds 1161 CARE A+ BankYes Bank Ltd. Lower/Upper Tier II Bonds 1550 CARE AA-/A+ BankZandu Pharmaceuticals Works Ltd. Mibor Linked CP/STD 144.5 PR1+ Drugs & Pharmaceuticals

NAME OF ISSUER INSTRUMENT INDUSTRYLONGTERM

MEDIUMTERM

SHORTTERM

AMOUNT(RS. MN)

REMARKS

Page 20: Rating Reckoner CARE

20

ABL Trust Series XXIII P T C 250 PR1+(SO) *(Originated by Barclays Bank PLC.)(Obligor - Raymond Ltd.)ABL Trust Series XXIX P T C 270 PR1+(SO) *(Originated by Barclays Bank PLC.)(Obligor - Gammon India Ltd.)ABL Trust Series XXIX P T C #(Originator-Centurion Bank of Punjab Ltd.)(Obligor-Kalpataru Power Transmission Ltd.)Bharat Securitisation Trust – August 2008 A PTC #(Originator - Bank of America, N.A.)(Obligor - TATA CommunicationsInternet Services Ltd..)Corporate Loan Securitisation P T C #Series IX Trust 2005(Originated by Kotak Mahindra Prime Ltd.)(Obligor - Srei Equipment Finance Pvt. Ltd.)Corporate Loan Securitisation P T C #Series I Trust 2005(Originated by Kotak Mahindra Bank Ltd.)(Obligor - Srei Equipment Finance Pvt. Ltd.)Corporate Loan Securitisation P T C #Series I Trust 2006(Originated by Kotak Mahindra Bank Ltd.)(Obligor - Srei Infrastructure Finance Ltd.)Corporate Loan Securitisation P T C #Series XIX Trust 2006(Originated by Kotak Mahindra Bank Ltd.)Corporate Loan Securitisation P T C #Series XVIII Trust 2006(Originated by Kotak Mahindra Bank Ltd.)Corporate Loan Securitisation P T C #Series XXI Trust 2006(Originated by Kotak Mahindra Bank Ltd.)Corporate Loan Securitisation P T C #Series XXXI Trust 2006(Originated by Kotak Mahindra Bank Ltd.)Corporate Loan Securitisation P T C #Series XXXVIII Trust 2006(Originated by Kotak Mahindra Prime Ltd.)Corporate Loan Securitisation P T CSeries XXXV Trust 2006(Originated by Kotak Mahindra Prime Ltd.)(Obligor - Srei Equipment Finance Pvt. Ltd.)Corporate Loan Securitisation P T C #Series XXII Trust 2006(Originated by Kotak Mahindra Prime Ltd.)(Obligor - Srei Infrastructure Finance Ltd.)Corporate Loan Securitisation #Series 10 Trust 2008 PTC Series A1(Originated by Kotak Mahindra Bank Ltd.)(Obligor - Simplex Infrastructure Ltd.)Corporate Loan Securitisation PTC Series A2 #Series 10 Trust 2008(Originated by Kotak Mahindra Bank Ltd.)(Obligor - Simplex Infrastructure Ltd.)Corporate Loan Securitisation P T C 210 CARE AA+(SO)Series 15 Trust 2008(Obligor L&T Finance Ltd.)(Originated by Kotak Mahindra Bank Ltd.)Corporate Loan Securitisation PTC Series A1Series 19 Trust 2008(Originated by Kotak Mahindra Bank Ltd.)(Obligor - Simplex Infrastructure Ltd.)

SECURITISATION

INSTRUMENTAMOUNT(RS. MN) RATING REMARKSNAME OF ISSUER

Corporate Loan Securitisation PTC Series A2 #Series 19 Trust 2008(Originated by Kotak Mahindra Bank Ltd.)(Obligor - Simplex Infrastructure Ltd.)Corporate Loan Securitisation P T C #Series 21 Trust 2008(Originated by Kotak Mahindra Bank Ltd.)(Obligor - Elder Pharmaceuticals Ltd.)Corporate Loan Securitisation P T CSeries 24 Trust 2008(Originated by Kotak Mahindra Bank Ltd.)(Obligor - Welspun Gujarat Stahl Rohren Ltd.)Corporate Loan SecuritisationSeries 25 Trust 2008(Originated by Kotak Mahindra Prime Ltd.)(Originated - Magma Fincorp Ltd.)Corporate Loan Securitisation P T CSeries 30 Trust 2008(Originated by Kotak Mahindra Bank Ltd.)(Obligor L&T Finance Ltd.)Corporate Loan Securitisation P T CSeries 39 Trust 2008(Originated by Kotak Mahindra Prime Ltd.)(Obligor - Unitech Ltd.)Corporate Loan Securitisation P T CSeries 42 Trust 2008(Originated by Kotak Mahindra Bank Ltd.)(Obligor - Jaiprakash Associates Ltd.)Corporate Loan Securitisation P T CSeries 47 Trust 2008(Obligor L&T Finance Ltd.)(Originated by Kotak Mahindra Bank Ltd.)Corporate Loan Securitisation P T C #Series 48 Trust 2008(Originated by Kotak Mahindra Prime Ltd.)(Obligor Emaar MGF Land Ltd.)Corporate Loan Securitisation P T C #Series 49 Trust 2008(Originated by Kotak Mahindra Prime Ltd.)(Obligor Emaar MGF Land Ltd.)Corporate Loan Securitisation P T C #Series 50 Trust 2008(Originated by Kotak Mahindra Prime Ltd.)(Obligor Emaar MGF Land Ltd.)Corporate Loan Securitisation P T C #Series 51 Trust 2008(Originated by Kotak Mahindra Prime Ltd.)(Obligor Emaar MGF Land Ltd.)Corporate Loan Securitisation P T C #Series 53 Trust 2008(Originated by Kotak Mahindra Prime Ltd.)(Obligor Emaar MGF Land Ltd.)Corporate Loan Securitisation P T C #Series 54 Trust 2008(Originated by Kotak Mahindra Prime Ltd.)(Obligor Emaar MGF Land Ltd.)Corporate Loan Securitisation P T C #Series 55 Trust 2008(Originated by Kotak Mahindra Prime Ltd.)(Obligor Emaar MGF Land Ltd.)Corporate Loan Securitisation P T C #Series 72 Trust 2008(Originated by Kotak Mahindra Bank Ltd.)(Obligor - Alok Industries Ltd.)Corporate Loan Securitisation PTC Series A1 & A2Series 76 Trust 2008(Originated by Kotak Mahindra Bank Ltd.)(Obligor - Simplex Infrastructure Ltd.)

INSTRUMENTAMOUNT(RS. MN) RATING REMARKSNAME OF ISSUER

Page 21: Rating Reckoner CARE

21

INSTRUMENTAMOUNT(RS. MN) RATING REMARKS INSTRUMENT

AMOUNT(RS. MN) RATING REMARKSNAME OF ISSUER

Corporate Loan Securitisation P T CSeries 77 Trust 2008(Originator - Kotak Mahindra Bank Ltd.)(Obligor - Jaiprakash Associates Ltd.)Corporate Loan Securitisation P T C #Series 84 Trust 2008(Originator - Kotak Mahindra Prime Ltd.)(Obligor - Srei Equipment Finance Pvt. Ltd.)Corporate Debt Trust 2008-09 Series 6 P T C #(Originated by Axis Bank Ltd.)(Obligor - Punj Lloyd Ltd.)Corporate Loan Securitisation P T C 5 0 CARE AA(SO)Series X PTC Series A 1(Originated By Yes Bank Ltd.)(Obligor - United Phosphorus Ltd.)CLSS 9 Trust 2009 P T C #(Originated by Kotak Mahindra Prime Ltd.)(Obligor - Magma Fincorp Ltd.)CLSS 17 Trust 2009 P T C 2 5 1 . 6 PR1+(SO) *(Originated by Kotak Mahindra Prime Ltd.)(Obligor - Elder Pharmaceuticals Ltd.)Credit Asset Trust Series XL P T C #(Originated by HSBC Ltd.)(Obligor - Magma Fincorp Ltd.)Credit Enhancement Trust 2009 Series I Class A1 PTC 1219 CARE AA+(SO)Credit Enhancement Trust 2009 Series I Class A2 PTC 297 CARE AA+(SO)Credit Enhancement Trust 2009 Series I Class A3 PTC 577 CARE AA+(SO)Credit Enhancement Trust 2009 Series I Class A4 PTC 270 CARE AA+(SO)Credit Enhancement Trust 2009 Series I Class A5 PTC 915 CARE AA+(SO)Credit Enhancement Trust 2009 Series I Class A6 PTC 1041 CARE AA+(SO)Credit Enhancement Trust 2009 Series I Class A7 PTC 567 CARE AA+(SO)Credit Enhancement Trust 2009 Series I Class A8 PTC 167 CARE AA+(SO)Credit Enhancement Trust 2009 Series I Class A9 PTC 540 CARE AA+(SO)Credit Enhancement Trust 2009 Series I Class A10 PTC 732 CARE AA+(SO)(Originator - Shriram TransportFinance Ltd.)GESCI September 2004 Loan Trust PTC(Originated by GE Capital Services India)HDFC's Assignment Receivables Assignee Payouts 9255 CARE AAA(SO)*Mar' 09(Originator - HDFC Ltd.)HDFC's Assignment Receivables Second Loss Facilitiy 516 CARE BBB(SO) *Mar' 09(Originator -HDFC Ltd.)HDFC Bank's Assignment Receivables Assignee Payouts 4187 CARE AAA(SO) *Mar' 09(Originator - HDFC Bank Ltd..)HDFC's Assignment Receivables Assignee Payouts 3480 CARE AAA(SO)*May' 09-I(Originator - HDFC Ltd.)HDFC's Assignment Receivables Second Loss Facilitiy 236 CARE BBB(SO) *May' 09-I(Originator - HDFC Ltd.)HDFC's Assignment Receivables Assignee Payouts 9533 CARE AAA(SO)*May' 09-II(Originator - HDFC Ltd.)HDFC's Assignment Receivables Second Loss Facilitiy 583 CARE BBB(SO) *May' 09-II(Originator - HDFC Ltd.)IBH Loan Trust P T C #(Originated - GE Capital Services India)Obligor - Emami Ltd.IDL Loan Trust P T C 2 5 1 . 8 PR1+(SO) *(Originated - GE Capital Services India)(Obligor - Elder Pharmaceuticals Ltd.)IGHCC Loan Trust P T C(Orignated by GE Capital Services)(Obligor - Hindustan Construction Co. Ltd.)

IGHCC 2 Loan Trust P T C(Orignated by GE Capital Services)(Obligor - Hindustan Construction Co. Ltd.)IGHCC 3 Loan Trust P T C 250 CARE AA(SO) *(Orignated by GE Capital Services)(Obligor - Hindustan Construction Co. Ltd.)

IGHCC 4 Loan Trust P T C(Orignated by GE Capital Services)(Obligor - Hindustan Construction Co. Ltd.)IKR Loan Trust P T C #(Originated by GE Capital Services India)(Obligor - Kesoram Industries Ltd.)

IOP Loan Trust P T C #(Originated by GE Capital Services India)(Obligor -Orient Paper & Industries Ltd.)IPL Loan Trust P T C #(Originated by GE Capital Services India)(Obligor - Punj Lloyd Ltd.)India Commercial Loan Trust - P T C 1000 CARE AA+(SO) *Series IV – 2009(Originator - JM Financial Products Pvt. Ltd.)(Obligor - Tata Capital Ltd.)India Structured Asset Trust - Series V P T C 5 1 5 . 4 PR1+(SO) *(Originator - ECL Finance Ltd.) (Series A1 & A2)(Obligor - Emami Ltd.)India Structured Asset Trust - Series V PTC 524.2 CARE AA(SO) *(Originator - ECL Finance Ltd.) (Series A3, A4 & A5 & A6)(Obligor - Emami Ltd.)India Structured Asset Trust - Series VIII PTC 515.5 PR1+(SO) *(Originator - ECL Finance Ltd.) (Series A1 & A2)(Obligor - Emami Ltd.)India Structured Asset Trust - Series VIII PTC 524.1 CARE AA(SO)*(Originator - ECL Finance Ltd.) (Series A3, A4 & A5 & A6)(Obligor - Emami Ltd.)

India Structured Asset Trust - Series IX PTC 1021.7 PR1+(SO) *(Originator - ECL Finance Ltd.)(Obligor - Emami Ltd.)India Structured Asset Trust - Series X PTC 1023.6 PR1+(SO) *(Originator - ECL Finance Ltd.)(Obligor - Emami Ltd.)

Indian Corporate Loan Securitisation Trust PTCSeries X(Orignated by Yes Bank Ltd.)Indian Corporate Loan Securitisation Trust PTC #Series IX(Orignated by Yes Bank Ltd.)(Obligor - Srei Infrastructure Finance Ltd.)Indian Corporate Loan Securitisation Trust P T CSeries XX(Orignated by Yes Bank Ltd.)(Obligor - Hindustan Construction Co. Ltd.)Indian Corporate Loan Securitisation Trust PTCSeries XXI(Orignated by Yes Bank Ltd.)(Obligor - Jindal Stainless Ltd.)

Indian Corporate Loan Securitisation Trust PTCSeries XXIII(Orignated by Yes Bank Ltd.)(Obligor - Hindustan Construction Co. Ltd.)Indian Corporate Loan Securitisation Trust PTC 2 5 0 CARE AA+(SO)Series XXVII(Originated by Kotak Mahindra Bank Ltd.)(Obligor - L&T Finance Ltd.)Indian Corporate Loan Securitisation Trust PTCSeries XXVIII(Originated by Kotak Mahindra Bank Ltd.)(Obligor - L&T Finance Ltd.)

NAME OF ISSUER

Page 22: Rating Reckoner CARE

22

INSTRUMENT AMOUNT(RS. MN) RATING REMARKSNAME OF ISSUERINSTRUMENT

AMOUNT(RS. MN) RATING REMARKSNAME OF ISSUER

Indian Corporate Loan Securitisation Trust PTC A1 #Series LVI(Orignator - Yes Bank Ltd.)(Obligor - Housing Development andInfrastructure Ltd.)Indian Corporate Loan Securitisation Trust PTC A2 #Series LVI(Orignator - Yes Bank Ltd.)(Obligor - Housing Development andInfrastructure Ltd.)Indian Corporate Loan Securitisation PTC #Trust 2008 - Series 31(Originated By Yes Bank Ltd.)(Obligor - Orient Paper Industries Ltd.)Indian Corporate Loan Securitisation Trust PTC 501 .2 PR1+(SO) *Series 2008 - Series VIII(Orignator - Yes Bank Ltd.)(Obligor - Patel Engineering Ltd.)Indian Corporate Loan Securitisation Trust PTC 501.2 PR1+(SO) *Series 2008 - Series 23(Orignator - Yes Bank Ltd.)(Obligor - Patel Engineering Ltd.)Indian Loan Securitisation PTC (Series A)Series 4 Trust 2008(Obligor - Magma Fincorp Ltd.)Indian Loan Securitisation PTC (Series B) 117 CARE AAA(SO)*Series 4 Trust 2008(Obligor - Magma Fincorp Ltd.)Indian Loan Securitisation PTC (Series C) 109 CARE AAA(SO)*Series 4 Trust 2008(Obligor - Magma Fincorp Ltd.)ISH Loan Trust PTC #(Originator - Ge Capital Services India) (A1 & A2)(Obligor - Simplex Infrastructrue Ltd.)Indian Corporate Loan Securitisation PTC #Trust 2008 - Series 7(Orignated by Yes Bank Ltd.)(Obligor - Srei Equipment Finance Pvt. Ltd.)Indian Corporate Loan Securitisation PTC #Trust 2008 Series 12(Orignator - Yes Bank Ltd.)(Obligor - Punj Lloyd Ltd.)Indian Corporate Loan Securitisation PTC 1253.8 PR1+(SO) *Trust 2008 Series 17(Originator – Yes Bank Ltd.)(Obligor - JSW Steel Ltd.)Indian Corporate Loan Securitisation PTC #Trust 2008 Series 33(Obligor L&T Finance Ltd.)(Originated by Yes Bank Ltd.)India Commercial Loan Trust Series IV 2008 PTC #(Originated by JM Financial Products Pvt. Ltd.)(Obligor Magma Fincorp Ltd.)India Commercial Loan Trust Series V 2008 PTC #(Originated by JM Financial Products Pvt. Ltd.)(Obligor Magma Fincorp Ltd.)Indian Infrastructure Equipment Receivable PTC A1 1486 CARE AAA(SO) *Trust - June 2009(Originator - Srei Equipment Finance Pvt. Ltd.)Indian Infrastructure Equipment Receivable PTC A2 1 6 1Trust - June 2009(Originator - Srei Equipment Finance Pvt. Ltd.)Indian Infrastructure Equipment Second Loss Facilitiy 184.3 CARE BBB(SO) *Receivable Trust - June 2009(Originator - Srei Equipment Finance Pvt. Ltd.)Investment Vehicle for Structured PTC A1a #Transaction 1508

Investment Vehicle for Structured PTCA2b #Transaction 1508Investment Vehicle for Structured PTC A1b #Transaction 1508Investment Vehicle for Structured PTC A2a #Transaction 1508Investment Vehicle for Structured PTC A2c1 #Transaction 1508Investment Vehicle for Structured PTC A2e #Transaction 1508Investment Vehicle for Structured PTC A1c 2030 .4 CARE AAA(SO)Transaction 1508Investment Vehicle for Structured PTC A1d 8770 .8 CARE AAA(SO)Transaction 1508Investment Vehicle for Structured PTC A2d1 4 0 5 CARE AAA(SO)Transaction 1508Investment Vehicle for Structured PTC A2f 488 .6 CARE AAA(SO)Transaction 1508Investment Vehicle for Structured PTC A3 2518 .2 CARE AAA(SO)Transaction 1508Investment Vehicle for Structured PTC A4 2914 .2 CARE AAA(SO)Transaction 1508Investment Vehicle for Structured PTC A5 2197 .9 CARE AAA(SO)Transaction 1508Investment Vehicle for Structured Liquity Facility 3671 .9 CARE AAA(SO)Transaction 1508Investment Vehicle for Structured Second Loss 5434.4 CARE AAA(SO)Transaction 1508 Facilitiy(Originated by ICICI Bank Ltd.)ITCCL Loan Trust PTC 101.4 CARE AA(SO)(Originated by IL&FS Financial Services Ltd.)(Obligor - The Freyssinet PrestressedConcrete Co. Ltd.)ITGIN Loan Trust PTC 1000 PR1+(SO) *(Originator IL&FS Financial Services Ltd.)(Obligor Gammon India Ltd.)ITMN Loan Trust PTC 703.1 PR1+(SO) *(Originated by IL&FS Ltd.)(Obligor - Gammon Cooling Towers Ltd.)ITMFL Loan Trust (Originated by IL&FS PTC 2 5 2 PR1+(SO)Financial Services Ltd.)(Obligor - Magma Fincorp Ltd.)ILDR Loan Trust PTC(Orignated by GE Capital Services)(Obligor - Elder Pharmaceuticals Ltd.)JPA Loan Trust PTC(Orignated by GE Capital Services)(obligor - Jaiprakash Associates Ltd)KJA Loan Trust PTC #(Orignated by GE Capital Services)(obligor - Jindal Stainless Ltd.)KJS Loan Trust PTC 500 PR1+(SO)(Orignated by GE Capital Services)(obligor - Jaiprakash Associates Ltd)KSF Loan Trust Series I PTC(Orignated by GE Capital Services)(Obligor - Srei Infrastructure Finance Ltd.)KEP Loan Trust Series I PTC 302 .3 PR1+(SO)*(Orignated by GE Capital Services)(Obligor - Elder Pharmaceuticals Ltd.)KPR Loan Trust PTC(Orignated by GE Capital Services)(Obligor - Srei Equipment Finance Pvt. Ltd.)KRF Loan Trust PTC Series A1 & A2 #(Orignated by GE Capital Services)(Obligor - Simplex Infrastructure Ltd.)

Page 23: Rating Reckoner CARE

23

INSTRUMENT AMOUNT(RS. MN) RATING REMARKSNAME OF ISSUER INSTRUMENT AMOUNT

(RS. MN) RATING REMARKSNAME OF ISSUER

KRF Loan Trust PTC Series A3 #(Orignated by GE Capital Services)(Obligor - Simplex Infrastructure Ltd.)KRF Loan Trust PTC Series A4 #(Orignated by GE Capital Services)(Obligor - Simplex Infrastructure Ltd.)KRF Loan Trust PTC Series A5 #(Orignated by GE Capital Services)(Obligor - Simplex Infrastructure Ltd.)KRF Loan Trust PTC Series A 6 #(Orignated by GE Capital Services)(Obligor - Simplex Infrastructure Ltd.)KSP Loan Trust Series A1 #(Originated by GE Capital Services) PTC(Obligor - Srei Equipment Finance Pvt. Ltd.)Loan Securitisation Trust Series 51 PTC #(Originated by ICICI Bank Ltd.)(Obligor - L&T Finance Ltd.)Loan Securitisation Trust Series 51 PTC(Originated by ICICI Bank Ltd.)(Obligor - L&T Finance Ltd.)Loan Securitisation Trust Series 52 PTC 749 .8 PR1+(SO) *(Originated by ICICI Bank Ltd.)(Obligor - Hindustan Construction Co. Ltd.)MFL's Assignment of Receivables Sep' 07 Assignee Payouts 1 4 0 CARE AAA(SO)*(Originated by Magma Fincorp Ltd.)MFL's Assignment of Receivables Feb' 08 Assignee Payouts 193 CARE AAA(SO)*(Originator - Magma Fincorp Ltd.)MFL's Assignment of Receivables Sep' 08 Assignee Payouts 636 CARE AAA(SO)*(Originator - Magma Fincorp Ltd.)MFL's Assignment of Receivables Assignee Payouts 780 CARE AAA(SO)*Jan' 09(Originator - Magma Fincorp Ltd.)MFL's Assignment of Receivables Second Loss Facilitiy116.5 CARE BBB(SO) *Jan' 09(Originator - Magma Fincorp Ltd.)MFL's Assignment Receivables Assignee Payouts 1189 CARE AAA(SO)*Feb' 09(Originator - Magma Fincorp Ltd.)MFL's Assignment Receivables Second Loss Facilitiy164 .3 CARE BBB(SO) *Feb' 09(Originator - Magma Fincorp Ltd.)MFL's Assignment Receivables Assignee Payouts 7 7 6 CARE AAA(SO)*Mar' 09-I(Originator - Magma Fincorp Ltd.)MFL's Assignment Receivables Second Loss Facilitiy 9 6 CARE BBB(SO) *Mar' 09-I(Originator - Magma Fincorp Ltd.)MFL's Assignment Receivables Assignee Payouts 3 6 3 CARE AAA(SO)*Mar' 09-II(Originator - Magma Fincorp Ltd.)MFL's Assignment Receivables Second Loss Facilitiy 50.8 CARE BBB(SO) *Mar' 09-II(Originator - Magma Fincorp Ltd.)MFL's Assignment Receivables Assignee Payouts 1421 CARE AAA(SO)*Aug' 09-I(Originator - Magma Fincorp Ltd..)MFL's Assignment Receivables Second Loss Facilitiy 1 7 1 CARE BBB(SO) *Aug' 09-I(Originator - Magma Fincorp Ltd..)MFL's Assignment Receivables Assignee Payouts 9 4 6 CARE AAA(SO)*Aug' 09-II(Originator - Magma Fincorp Ltd.)MFL's Assignment Receivables Second Loss Facilitiy 116 CARE BBB(SO)*Aug' 09-II(Originator - Magma Fincorp Ltd.)

MFL's Assignment Receivables Assignee Payouts 1426 CARE AAA(SO)*Sep' 09-I(Originator - Magma Fincorp Ltd.)MFL's Assignment Receivables Second Loss Facilitiy 1 7 9 CARE BBB(SO) *Sep' 09-I(Originator - Magma Fincorp Ltd.)MFL's Assignment Receivables Assignee Payouts 1535 CARE AAA(SO)*Sep' 09-II(Originator - Magma Fincorp Ltd.)MFL's Assignment Receivables Second Loss Facilitiy 1 2 6 CARE BBB(SO) *Sep' 09-II(Originator - Magma Fincorp Ltd.)MFL's Assignment Receivables Assignee Payouts 9 9 9 CARE AAA(SO) *Dec' 09-I(Originator - Magma Fincorp Ltd.)MFL's Assignment Receivables Second Loss Facilitiy 113 CARE BBB(SO) *Dec' 09-I(Originator - Magma Fincorp Ltd.)Mortgage Backed Loan Receivables PTC ITrust (Originated by ICICI Bank Ltd.)Mortgage Backed Loan Receivables PTC IITrust (Originated by ICICI Bank Ltd.)NHB SPV Trust DP1 (Originated by DHFL) Class A PTC #RB Loan Trust Series 29 PTC 1002.1 PR1+(SO) *(Originator - Standard Chartered Bank)(Obligor - Kesoram Industries Ltd.)Ranbaxy Holding Company Ltd. NCD IRanbaxy Holding Company Ltd. NCD IIReceivable Securitisation Trust Series II PTC 510 .8 PR1+ (SO) *(Originated by IDFC Ltd.)(Obligor - Hindustan Construction Co. Ltd.)Receivable Securitisation Trust Series VI PTC 5 0 5 PR1+ (SO) *(Originated by IDFC Ltd.)(Obligor - Hindustan Construction Co. Ltd.)Receivable Securitisation Trust Series VIII PTC #(Originated by IDFC Ltd.)(Obligor - Unitech Ltd.)Receivable Securitisation Trust Series XIV PTC 3 7 8 CARE AAA(SO) *(Obligor - Srei Equipment Finance Pvt. Ltd.)RB Loan Trust Series XVI PTC #(Originated by Standard Chartered Bank)(Obligor - Magma Fincorp Ltd.)

RB Loan Trust Series XVII PTC 403 .7 PR1+ (SO) *(Originated by Standard Chartered Bank)(Obligor - Elder Pharmaceuticals Ltd.)

RMBS 2002 Series I Trust - Class A PTC(Originated by DHFL)

SEFPL's Assignment of Receivables Assignee Payouts 2 5 4 CARE AAA(SO)*July' 08 (Originator - Srei EquipmentFinance Pvt. Ltd.)

SEFPL's Assignment of Receivables Assignee Payouts 9 1 6 CARE AAA(SO)*Jan' 09 (Originator - Srei EquipmentFinance Pvt. Ltd.)

SEFPL's Assignment of Receivables Assignee Payouts 7 5 6 CARE AAA(SO)*Mar' 09-I (Originator - Srei EquipmentFinance Pvt. Ltd.)

SEFPL's Assignment of Receivables Assignee Payouts 9 5 2 CARE AAA(SO)*Mar' 09-II (Originator - Srei EquipmentFinance Pvt. Ltd.)

SEFPL's Assignment of Receivables Assignee Payouts 9 6 8 CARE AAA(SO)*Sep' 09-I (Originator - Srei EquipmentFinance Pvt. Ltd.)

SKSMFL's Assignment Receivables Assignee Payouts 1058.9 PR1+(SO) *Sep' 09(Obligor - SKS Mircofinance Ltd..)

Page 24: Rating Reckoner CARE

24

STFCL's Assignment of Receivables Assignee Payouts 7929 CARE AAA(SO) *Sep' 09 (Originator – Shriram TransportFinance Co. Ltd.)STFCL's Assignment of Receivables Liquidity Facility 2 0 6 CARE AAA(SO) *Sep' 09 (Originator – Shriram TransportFinance Co. Ltd.)STFCL's Assignment of Receivables Second Loss Facilitiy 6 7 4 CARE BBB(SO) *Sep' 09 (Originator – Shriram TransportFinance Co. Ltd.)

SIL Loan Trust Series I PTC(Orignated by GE Capital Services)(Originated by Srei Infrastructure Finance Ltd.)UBL Trust Series 41 PTC #(Originated by DSP Merill Lynch Capital Ltd.)(Obligor - HCC Real Estate Ltd.)UBL Trust Series 60 PTC (A&B) 8754 .9 PR1+(SO)(Originator - DSP Merrill Lynch Capital Ltd.)(Obligor - Idea Cellular Ltd. )UBL Trust Series 61 PTC (A&B) 5471 .8 PR1+(SO)(Originator - DSP Merrill Lynch Capital Ltd.)(Obligor - Idea Cellular Ltd. )UBL Trust Series 62 PTC (A&B) 13132.3 PR1+(SO)(Originator - DSP Merrill Lynch Capital Ltd.)(Obligor - Idea Cellular Ltd. )

UBL Trust Series 63 PTC (A&B) 8754 .9 PR1+(SO)(Originator - DSP Merrill Lynch Capital Ltd.)(Obligor - Idea Cellular Ltd. )

Insurance Instrumment RatingsGeneral Insurance Corporation of India C PA CARE AAA (In)

Mutual FundCanara Robeco Asset Management Canara Robeco Liquid CARE AAAfCompany Ltd.Canara Robeco Asset Management Canara Robeco Floating Rate CARE AAAfCompany Ltd.Canara Robeco Asset Management Canara Treasury Advantage CARE AAAfCompany Ltd.Sundaram BNP Paribas Asset Ultra Short Term Plan CARE AA+fManagement Co. Ltd.UTI Asset Management Co.Ltd. UTI Treasury Advantage Scheme CARE AAAf

Corporate GovernanceGati Ltd CARE CGR 2KEI Industries Ltd. CARE CGR 3

Issuer RatingAgra Municipal Corporation CARE BB-(IS)Allahabad Municipal Corporation CARE B+(IS)Balmer Lawrie & Co. Ltd. CARE AA+(IS)Bank of India CARE AAA(IS)Base Corporation Ltd. #Bhubaneswar Municipal Corporation CARE BBB+(IS)Container Corporation of India Ltd. CARE AAA(Is)Dakshin Haryana Bijl i Vitran Nigam Ltd. CARE BB+(IS)Greater Hyderabad Municipal Corporation CARE AA-(IS)Greater Visakhapatnam Municipal Corporation CARE A(IS)Gujarat Alkalies & Chamicals Ltd. #Hindalco Industries Ltd. CARE AA+(Is)Housing Development Finance Corporation Ltd. CARE AAA(IS)Kanpur Municipal Corporation CARE BB+(IS)Lucknow Municipal Corporation CARE BB(IS)Mahindra Rural Housing Finance Ltd. CARE BBB-(Is)

Mathura Municipality CARE B(IS)Meerut Municipal Corporation CARE BB(IS)Patel Engineering Ltd. CARE AA(IS)Puri Municipality CARE C(IS)Raipur Municipal Corporation CARE BBB(IS)South Asian Petrochem Ltd. CARE A(IS) @TATA Communications Ltd. CARE AAA(IS)Uttar Haryana Bijl i Vitran Nigam Ltd. CARE BB+(Is)Varanasi Municipal Corporation CARE B+(IS)Vijayawada Municipal Corporation CARE BBB+(IS)

Grading of Construction Entities GRADING

McNally Bharat Engineering Co. Ltd. CCt 1-

Grading of Maritime InstitutesChidambaram Institute of Maritime Technology CARE Grade 2Chidambaram Institute of Maritime Technology CARE Grade 3Dr. B.R. Ambedkar Government Polytechnic CARE Grade 2Dr. B.R. Ambedkar Government Polytechnic CARE Grade 2K.M.School of Marine Engineering CARE Grade 2Maharashtra Academy of Naval Education & Training CARE Grade 1Marine Engineering Training Institute CARE Grade 1Marine Engineering Training Institute CARE Grade 1Marine Engineering Training Institute CARE Grade 1Maritime Education Training & Research Institute #Mohamed Sathak Engineering College CARE Grade 3Padmabhushan Vasantdada Patil Pratishan's CARE Grade 2College of EnginneringS.B. Vignesh Marine Training Centre CARE Grade 3Shipping Corporation of India (Advanced Fire Fighting ) CARE Grade 1Shipping Corporation of India CARE Grade 1(Fire Prevention & Fire Fighting)Shipping Corporation of India CARE Grade 1(Global Maritime Distress & Safety System )Shipping Corporation of India CARE Grade 1(IGNOU – DGS B.Sc. Pre Sea Nautical Course)Shipping Corporation of India (Medical First Aid ) CARE Grade 1Shipping Corporation of India CARE Grade 1(Oil Tanker Familiarization Course)Shipping Corporation of India CARE Grade 1(Passenger Ship Familiarization)Shipping Corporation of India CARE Grade 1(Personal Safety and Social Responsibil ity )Shipping Corporation of India CARE Grade 1(Personal Survival Techniques)Shipping Corporation of India CARE Grade 1(Proficiency of Elementary First Aid)Southern Academy of Maritime Studies Pvt. Ltd. CARE Grade 3Southern Academy of Maritime Studies Pvt. Ltd. CARE Grade 3Southern Academy of Maritime Studies Pvt. Ltd. CARE Grade 3T.S. Rahaman (Advanced Fire Fighting) CARE Grade 1T.S. Rahaman (Class I MEO) CARE Grade 2T.S. Rahaman (Class IV MEO) CARE Grade 2T.S. Rahaman (Elementary First Aid) CARE Grade 1T.S. Rahaman (Fire Prevention & Fire Fighting) CARE Grade 1T.S. Rahaman (GMDSS) CARE Grade 1T.S. Rahaman (Personal Safety & Social Responsibil it ies) CARE Grade 1T.S. Rahaman (Personal Survival Techniques) CARE Grade 1T.S. Rahaman (Pre Sea GP Ratings) CARE Grade 1T.S. Rahaman (Pre Sea Saloon Ratings) CARE Grade 1T.S. Rahaman (Proficiency in Medical First Aid) CARE Grade 1

INSTRUMENT AMOUNT(RS. MN) RATING REMARKSNAME OF ISSUER NAME OF ISSUER GRADING

Page 25: Rating Reckoner CARE

25

NAME OF ISSUER SHORTTERM

LONGTERM

AMOUNT(RS. MN)

T.S. Rahaman (Proficiency in survival Craft & Rescue Boats) CARE Grade 1T.S. Rahaman (Tanker Familiarisation) CARE GradeT.S. Rajaman (Pre Sea Deck Cadets) CARE Grade 1Technical Training Centre CARE Grade 2

Grading of IPO20 Microns Ltd. CARE IPO Grade 3Aishwarya Telecom Ltd. CARE IPO Grade 2AMD Metplast Ltd. CARE IPO Grade 3Ankita Knit Wear Ltd. CARE IPO Grade 2ARSS Infrastructure Projects Ltd. CARE IPO Grade 2Astec LifeSciences Ltd. CARE IPO Grade 2Astec LifeSciences Ltd. CARE IPO Grade 2Austral Coke & Projects Ltd. CARE IPO Grade 2AVON Weighing Systems Ltd. CARE IPO Grade 2Bang Overseas Ltd. CARE IPO Grade 2Bhagwati Banquets & Hotels Ltd. CARE IPO Grade 2Birla Cotsyn Ltd. CARE IPO Grade 3Brahamputra Consortium Ltd. $Cambridge Technology Enterprise Ltd. CARE IPO Grade 2Celestial Labs Ltd. CARE IPO Grade 1Central Bank of India CARE IPO Grade 4Cords Cable Industries Ltd. CARE IPO Grade 3Cox & Kings (I) Ltd. CARE IPO Grade 4D.B. Corp Ltd. CARE IPO Grade 4Edserv Softsystems Ltd. CARE IPO Grade 1Elysium Pharmaceuticals Ltd. $Emaar MGF Land Ltd. $Empee Distilleries Ltd. CARE IPO Grade 3Euro Multivision Ltd. CARE IPO Grade 3Evinix Accessories Ltd. CARE IPO Grade 2Excel Infoways Ltd. CARE IPO Grade 1Fineotex Chemical Ltd. $First Winner Industries Ltd. CARE IPO Grade 1Gammon Infrastructure Projects ltd. CARE IPO Grade 4Gemini Engi-Fab Ltd. $Globus Spirits Ltd. CARE IPO Grade 3Intrasoft Technologies Ltd. CARE IPO Grade 3Jaiprakash Power Ventures Ltd. $Jas Toll Road Co. Ltd. $JSW Energy Ltd. CARE IPO Grade 4Jyothy Laboratories Ltd. CARE IPO Grade 4Kabirdass Motor Company Ltd. CARE IPO Grade 1Kamayani Patients Care (India) Ltd. $Lotus Eye Care Hospital Ltd. CARE IPO Grade 3Mayajaal Entertainment Ltd. $Niraj Cement Structurals Ltd. CARE IPO Grade 1Orbit Corporation Ltd. CARE IPO Grade 1Pipavav Shipyard Ltd. CARE IPO Grade 3PNC Infratech Ltd. $Porwal Auto Components Ltd. CARE IPO Grade 3Ramsarup Lohh Udyog Ltd. $Shree Ganesh Jewellery House Ltd. CARE IPO Grade 3Sita Shree Food Products Ltd. CARE IPO Grade 2Somi Conveyor Beltings Ltd. CARE IPO Grade 2Surya Food & Agro Ltd. $Syncom Healthcare Ltd. CARE IPO Grade 2TCG Lifesciences Ltd. $Texmo Pipes & Products Ltd. CARE IPO Grade 2Transformers & Rectifiers (India) Ltd. CARE IPO Grade 4Tulsi Extrusions Ltd. CARE IPO Grade 3Usher Eco Power Ltd. $Vishal Information Technologies Ltd. CARE IPO Grade 3Ybrant Technologies Ltd. $

Bank Loan FacilityRating (Basel II)20 Microns Ltd. 591.8 PR3+ CARE BBBA.K. Capital Services Ltd. 2500 CARE A-A2Z Maintenance & Engineering Services Pvt. Ltd. 15000 PR2+ CARE A-Aakash Value Realty Ltd. 1000 CARE BBAarvee Denims & Exports Ltd. 1008.6 PR2+ CARE BBB+Aban Offshore Ltd. 29609.8 PR3 CARE BBBABC India Ltd. 5 5 0 PR2 CARE BBB+ABG Cement Limited 12028.4 CARE BBB-ABG Kolkata Container Terminal Pvt. Ltd 211.1 PR1+ CARE AA-ABG Shipyard Ltd. 80540 PR1@ CARE A @Abhijeet Infrastructure Ltd. 5 9 8 CARE BBBAbhijeet MADC Nagpur Energy Private Ltd. 6690.4 CARE BBBAbhijeet MADC Nagpur Energy Private Ltd. 4 4 6 CARE BBB-Abhishek Industries Ltd. 18841.6 PR2 CARE BBBAbohar Power Generation Pvt. Ltd. 427.5 PR3 CARE BBBABP Pvt. Ltd. 5159 PR1+ CARE A+Ackruti City Ltd. 3160 CARE BBAdani Enterprises Ltd. 31914.1 PR2+ CARE BBB+Adani Power Ltd. 2591.3 CARE AAA(SO)Adico Forge Pvt Ltd 139.3 PR4(SO) CARE BB+(SO)Aditya Birla Nuvo Ltd. 32500 PR1+ CARE AA+Aditya Birla Telecom Ltd. 2750 CARE AA(SO)Ador Welding Ltd 4 1 5 PR1+ CARE AAAdvanced Medicare Research Institute Ltd. 1576.9 PR3 @ CARE BBB @Advanta India Ltd. 4580 PR1+(SO) CARE AA-(SO)Advinus Therapeutics Private Ltd. 8 5 0 PR3 CARE BBB-Aegis Logistics Ltd. 1650 PR1+ @ CARE AA- @Agribiotech Industries Ltd. 252.6 CARE BBB-Agro Solvent Products Pvt. Ltd. 5 7 0 CARE BBB+Ahluwalia Contracts (India) Ltd. 8000 PR1 CARE AAhmedabad Ring Road Infrastructure Ltd. 4050 CARE A-Aircel Cellular Ltd. 1605 CARE A-Aircel Ltd. 63868 PR2+ CARE A-Airoil-Flaregas India Pvt. Ltd 287.5 PR3 CARE BBBAjanta Manufacturing Ltd. 1619.6 PR2+ CARE A-Ajanta Pharma Ltd. 2860.4 PR1 CARE AAjanta Projects India Ltd 6 0 0 CARE BBB-Ajmera Realty & Infra India Ltd.(Erstwhile Shree Precoated Steels Ltd.) # #Alaknanda Hydro Power Co. Ltd. 16550 CARE BBB-Alembic Ltd. 4205.3 PR1+ CARE AAAllied Strips Ltd. 739.8 PR4 CARE BB+Alok Industries Ltd. 78773.8 PR1 CARE AAlps Industries Ltd. 9510.2 PR4 CARE BAmalgamated Bean Coffee Trading Co. Ltd 4745.4 PR1+ CARE A+Amar Remedies Ltd. 1226 CARE A-Ambika Diamonds 3 1 2 CARE BB+Ambuja Intermediates Pvt. Ltd. 459.3 PR3 CARE BBB-AMD Industries Ltd. 972.5 PR4 CARE BB+AMR Constructions Ltd 7279.1 CARE BBB+Amtek Auto Ltd. 16515 PR1+ CARE AAAmtek Crankshafts (India) Ltd. 1357.5 PR1 CARE AAmtek India Ltd. 3014 PR1+ CARE AA-Amul Auto Components Pvt Ltd 60.5 CARE BB+(SO)Amul Crankcase Pvt Ltd 91.9 CARE BB+(SO)Amul Crankshaft Pvt Ltd 52.3 CARE BB+(SO)Amul Industries Pvt Ltd 639.1 PR4 CARE BB+Amulya Exports Ltd. 392.3 PR4 CARE BB+

NAME OF ISSUER GRADING

Page 26: Rating Reckoner CARE

26

NAME OF ISSUER SHORTTERM

LONGTERM

AMOUNT(RS. MN)

Anabond Limited 150.8 PR2+ CARE A-Andhra Pradesh Expressways Ltd 5242.5 CARE BBBAndhra Pradesh Paper Mills Ltd., The 4801.4 PR2 CARE BBB+Andhra Pradesh State Road Transport Corporation 6556.9 PR3 CARE BBB-ANG Auto Ltd. 1065.1 PR4 CARE BAnik Industries Ltd. 2878 PR3+ CARE BBBAnil Products Ltd. 894.6 PR3 CARE BBBAnitas Exports Pvt. Ltd. 119.5 PR3 CARE BBBAnjana Exports 8 4 0 CARE BB+Anjaney Ferro Alloys Ltd. 398.2 PR3+ CARE BBB+Anjani Portland Cement Ltd. 205.8 PR2 CARE BBB+Anjani Synthetics Ltd. 5 5 3 PR4 CARE BB+Ankit Gems 1140 CARE BBB-Ankit Metal & Power Ltd. 1275.6 PR3 CARE BBB-Ankit Roofings Ltd. 322.8 PR3 CARE BBB-Antrix Diamond Exports Pvt. Ltd. 1500 CARE BBBAnunay Fab Ltd. 1154 PR4 CARE BBAnup Engineering Ltd., The 713.9 PR3 CARE BBBAnupam Industries Ltd. 1910.6 PR2 CARE BBB+Apar Industries Ltd. 14992.3 PR1+ CARE A+APL International Pvt. Ltd. 4 1 2 PR4 CARE BBAPM Industries Ltd. 6 6 6 PR4 CARE BB+AppLabs Technologies Private Ltd. 218.9 CARE BBBAppu Hotels Limited 1758.8 PR2+ CARE BBB+APW President Systems Ltd. 313.1 PR1 CARE A+Aqua Logistics Ltd. 3 0 0 CARE BBBAquagel Chemicals Pvt Ltd 1001 PR2+ CARE A+Arani Agro Oil Industries Ltd. 1280 PR3 CARE BBB-Arasmeta Captive Power Company Ltd 9 4 6 PR3 CARE BBBArcadia Shipping Ltd. 2158.6 PR3+ CARE BBBArch Fine Chemical Ltd. # #Arch Pharmalab Ltd. 11000 PR1 CARE AArchean Granites PVt Ltd 1025.8 PR3 CARE BBB-Archon Engicon Private Limited 8 9 7 PR3 CARE BBB-Ardent Steel Ltd. 1500 PR3 CARE BBB-Arihant Domestic Appliances Pvt. Ltd. 3217.8 PR2 CARE BBBAro Granite Industries Ltd 1047.8 PR3 CARE BBBArshit Gems 6 9 0 CARE BArshiya International Ltd 4000 PR3 CARE BBB-Arshiya Rail Infrastructure Ltd 4600 CARE BBB-Arvind Ltd 20150 PR4 CARE BB+Arvind Murjani Brands Pvt Ltd 197.5 CARE BB+(SO)Arvind Remedies Ltd. 3441.2 PR3 CARE BBB-Arya Communications & Electronics 1 8 5 PR4 CARE BBServices Pvt. LtdAsahi Songwon Colors Ltd 477.1 PR1 CARE A-Ashapura International Ltd. 1 8 0 PR3 CARE BBB-Ashapura Volclay Ltd. 236.5 PR3+ CARE BBBAsia Motor Works Ltd. 10463.8 PR4 CARE BBAsian Electronics Ltd. & &Asian Granito (India) Ltd. 686.5 PR1+ CARE AAsian Star Company Ltd. 7576.4 CARE A-Assam Ginning & Industries Private Ltd 8 3 0 PR4 CARE BB+Associated Broadcasting Company Pvt Ltd 403.7 CARE BBB-ATC Tires Pvt. Ltd. 2650 CARE BBB-Atul Ltd. 5581.4 PR1 CARE A-Aurangabad Jalna Tollway Ltd. 1940 CARE BBB-Austenitic Creations Private Limited 130.7 PR4(SO) CARE C(SO)Avantha Power & Infrastructure Ltd. 5456 PR2 CARE A-Avinash N Bhosale (Wind Mill Farm) 3 0 0 CARE BBB-

Avtec Ltd. 2920.3 PR2 CARE BBB+Ayushajay Construction Pvt. Ltd. 3 5 0 CARE BBBAzam Rubber Products Ltd 590.7 PR4 CARE BB+B&A Ltd. 2 9 6 PR4 CARE BB.R. Goyal Infrastructure Pvt Ltd. 3 3 6 PR3 CARE BBB-Badarpur Faridabad Tollway Ltd. 4000 CARE BBBBalajee Hitec Rolling Pvt. Ltd 1 8 4 PR4 CARE BBBalaji Filaments Ltd. 168.2 PR3 CARE BBB-Balaji Industrial Products Ltd. 1225.3 PR3 @ CARE BBB- @Ballavpur Paper Manufacturing Ltd 418.4 PR3 CARE BBB-Bannari Amman Sugars Ltd. 3039.7 PR1+ CARE AA-Banswara Syntex Ltd. 4970.1 PR3+ CARE BBBBartronics India Ltd. 1375 PR2 CARE BBB+Base Corporation Ltd 2451.7 PR3 CARE BBB+Bebitz Flanges Works Pvt. Ltd. 387.8 PR3 CARE BBB-Bengal India Global Infrastructure Ltd 3000 PR3+Betul Oil & Flours Ltd. 898.6 PR3 CARE BBB-Bhagwati Banquets & Hotels Ltd. 940.1 PR2 CARE BBB+Bhander Power Ltd. 6667.5 PR1 CARE ABharat Hotels Ltd. 4506.8 PR1+ CARE A+Bharat Serum and Vaccines Ltd. 878.1 PR1 CARE ABharath Salt Refineries Ltd 167.4 PR3 CARE BBB-Bharati Shipyard Ltd. 46478.9 PR1 @ CARE A @Bhargovi 843.4 CARE BBBhavani Gems 4308.2 PR2 CARE BBBBhilai Jaypee Cement Ltd. 4320 PR3 CARE BBBBhilangana Hydro Power Ltd. 1030 CARE BBBBhilosa Industries Pvt. Ltd. 5211.3 PR1 CARE ABhoruka Power Corporation Ltd. 1483.1 PR1 CARE ABhushan Energy Ltd. 8140 PR3 CARE BBBBhushan Steel Ltd. 108791 PR1 CARE ABilcare Limited 5069.4 CARE A-Biltech Building Elements Ltd. 3 4 0 CARE BBB-Binani Zinc Ltd. 2020 PR3(SO) CARE BBB(SO)Bindal Papers Ltd. 2220.9 PR4 CARE BBBindal Sponge Ltd. 675.4 PR4 CARE BBBirla Corporation Ltd. 17037.9 PR1+ CARE AA+Birla Cotsyn (India) Ltd. 1149 PR2 CARE BBB-BLA Coke Pvt.Ltd. 1540 PR4 CARE BB+Blossoms Oils and Fats Ltd. 844.4 PR3 CARE BBB-Blue Bird (India) Ltd. 2900 PR4 CARE BBlue Star Ltd. 5600 PR1+ CARE AAABMA Stainless Ltd. 3 6 9 PR4 CARE BBBMD Pvt Ltd 886.8 PR1 CARE ABodal Chemicals Ltd. 3300 PR4 @ CARE BB+ @Bokaro Jaypee Cement Ltd. 2830 CARE BBBBombay Dyeing & Manufacturing Co. Ltd. 16975.1 PR3 CARE BBB-Bombay Rayon Fashions Ltd. 20770.5 PR2+ CARE A-BP Ergo Ltd. 5 5 0 PR1+ CARE A+Brahmaputra Carbon Ltd. 1 8 0 PR3+ CARE BBB+Bridge & Roof Co. (India) Ltd. 7940 PR1 CARE A+Bridgestone India Pvt. Ltd 3985.4 PR1+ CARE AA+Bright Autoplast Pvt. Ltd 1460.5 CARE BBB+Brightest Circle Jewellery Pvt Ltd 6 4 0 PR1(SO) CARE A+(SO)Brightest Circle Jewellery Pvt Ltd 2 6 0 PR1(SO) * CARE A+(SO) *BSES Rajdhani Power Ltd. 25218 PR3 CARE BBBBSES Yamunai Power Ltd. 13923.4 PR3 CARE BBBBSL Ltd. 1442.9 PR4 @ CARE BB+ @BVG India Ltd. 1000 CARE BBB+C&C Constructions Ltd. 18606.5 PR2+ CARE BBB+

NAME OF ISSUER SHORTTERM

LONGTERM

AMOUNT(RS. MN)

Page 27: Rating Reckoner CARE

27

NAME OF ISSUER NAME OF ISSUERSHORTTERM

LONGTERM

AMOUNT(RS. MN)

SHORTTERM

LONGTERM

AMOUNT(RS. MN)

C.J. Corporation 420.1 PR3 CARE BBBC.L. Gupta Ltd. 451.6 PR3 CARE BBB-Can Fin Homes Ltd 13150.1 CARE AA+Case Cold Roll Forming Ltd 1155.5 PR3 CARE BBB-Catmoss Retail Ltd. 573.8 CARE BCeat Ltd 5741.8 PR3 CARE BBB-Celebrations Apparel Ltd. 1 6 6 PR1+(SO) CARE AA(SO)Celestial Biologicals Ltd. 2 2 5 PR2+(SO) CARE A-(SO)Century Communication Ltd 4186.4 PR3 CARE BBBCera Sanitaryware Ltd. 5 0 4 PR1 CARE A-CESC Ltd. 6150.8 PR1+ CARE AAChanakya Kotilya Shikshan Sansthan Samiti 6 0 CARE BBChandan Steel Ltd. 2776.7 PR3 CARE BBB-Chandra Proteco Ltd 834.9 PR4 CARE BB+Chemtrols Industries Ltd. 1539.5 PR2 CARE BBB+Chettinad Cement Corporation Ltd. 3700 PR1+ CARE A+Chiripal Industries Ltd. 1980.3 PR4 CARE BBCIPLA Ltd. 17921 PR1+ CARE AAACity Tiles Ltd. 873.5 PR2 CARE BBB-Classic Citi Investments Pvt. Ltd 2050 PR2+ CARE BBB+Classic Mall Development Co. Pvt. Ltd. 2750 CARE BB+Coastal Agro Industries Ltd. 1489 PR3 CARE BBB-Cochin Shipyard Limited 25350 PR1+ CARE AACoffee Day Resorts (MSM) Pvt Ltd 7 2 0 PR3(SO) CARE BBB(SO)Coimbatore Capital Ltd. 388.5 PR3 CARE BBB-ColorPlus Fashion Ltd. 2 7 0 PR1 CARE AComviva Technologies Ltd. 7 1 0 PR1+ CARE AA-Concast Ispat Ltd. 1574 PR2 CARE BBBConvention Hotels India Pvt Ltd 1420 CARE BBB-Corrtech International Pvt. Ltd. 2000 PR1 CARE ACotton Corporation of India Ltd. 150000 PR1+(SO)Cox & Kings (I) Ltd. 892.5 PR1+ CARE A+Credila Financial Services Pvt. Ltd. 1000 CARE BBB-Crew B.O.S. Products Ltd. 2118.8 PR2 CARE BBB+D. Nitin & Co. &D.B. Corp Ltd. 7056.8 PR1+ CARE A+Dankuni Steels Ltd. 3193 PR3+ CARE BBBDasve Hospitality Institute Ltd. 3 0 0 CARE BBB-DCM Shriram Industries Ltd. 4573.1 PR3 CARE BBBDeccan Chronicle Holdings Ltd 1550 PR1+ CARE AADedhia Associates 2 0 0 CARE BBDedhia Associates 2 0 0 CARE BBDelphi - TVS Diesel Systems Ltd. 4200 PR1+ CARE AA-Dev Arcade Pvt. Ltd 839.3 CARE BDewan Housing Finance Corp Ltd. 53219 CARE AA+Dewas Bhopal Corridor Limited 3450 CARE BBB(SO)Dharti Dredging and Infrastructure Ltd. 4 2 0 CARE BDhunseri Tea & Industries Ltd. 944.5 CARE A @Diamond Hut India Pvt. Ltd 6 7 0 CARE BB+Diana Hotels Limited 6 4 0 PR2+ CARE BBB+Dighi Port Ltd. 8180.1 PR4 CARE BB+/

CARE BBDimexon Diamonds Ltd. 9850.8 CARE BBB-Dineshchandra R. Agrawal Infracon Pvt. Ltd 2284.7 PR1+ CARE ADish TV India Ltd 4300 CARE AA(SO)Dishman Pharmaceuticals & Chemicals Ltd. 4196.2 PR1+ CARE AA-Dishnet Wireless Ltd. 9898 CARE A-Divya Jyoti Industries Ltd. 338.9 PR4 CARE BBDM South India Hospitality Pvt Ltd. 9 8 0 CARE BBB-Dolphin Offshore Enterprises (India) Ltd. 3303.3 PR2 CARE A-

DPSC Ltd. 784.6 PR1 CARE ADr. Agarwals Eye Hospital Ltd. 357.5 CARE BBB-Drive India Enterprise Solutions Ltd. 10062.5 PR2(SO) CARE BBB+(SO)Drive India Enterprise Solutions Ltd. 9000 PR3 CARE BBBEarnest Towers Pvt. Ltd. 3500 CARE BBB-East Hyderabad Expressways Ltd. 3208.7 CARE BBBEastern Minerals & Trading Agency 4439 CARE BBB-ECI Engineering & Construction Co.Ltd 5130 PR2 CARE BBB+Educomp Infrastructure & School Management Ltd. 6250 CARE A(SO)Educomp Solutions Ltd 5892 PR1 CARE AElder Pharmaceuticals Ltd. 3055 PR1+ CARE A+Elecon Engineering Co Ltd. 14101.7 PR1+ CARE AA-Electrosteel Castings Ltd. 20300 PR1+ CARE AAElectrosteel Integrated Ltd. 54470 CARE BBBElectrotherm (India) Ltd. 15633.2 PR2 CARE BBB+Elin Electronics Ltd. 386.4 PR3+ CARE BBBEmaar MGF Land Ltd. 6725.5 CARE BB+Emami Biotech Ltd. 3280.2 PR3 CARE BBBEmami Ltd. 1500 PR1+ CARE AAEmami Paper Mills Ltd. 2000 PR1+ CARE AEmco Ltd. 113717 PR1 CARE A+Emcure Pharmaceuticals Ltd. 5729.7 PR2+ CARE A+EMI Transmission Ltd. 2880 PR2+ CARE A-Emmellen Biotech Pharmaceuticals Ltd. 2 4 5 PR3 CARE BBB-Empee Distilleries Ltd. 411.9 CARE BBB-Empee Hotels Ltd 1869.5 PR4 CARE BB+Emtici Engineering Ltd. 644.8 CARE A-Enercon India Ltd. 20020 PR3 @ CARE BBB- @Enercon Windfarms (Hindustan) Pvt. Ltd. 3933 CARE BBB @Energy Development Co. Ltd 4 0 0 PR2 CARE BBB+Engineers India Ltd. 12900 PR1+ CARE AAAEon Kharadi Infrastructure Pvt. Ltd. 1850 PR3 CARE BBB-Era Building System Ltd. 3191 PR2+ CARE A-Era Infra Engineering Ltd. 32462.5 PR2+ CARE A+Eros Multimedia Pvt. Ltd. 1223.7 PR1 CARE A-Escorts Heart & Super Speciality Institute Ltd. 2 5 0 CARE BBB-Escorts Heart Institute & Research Centre Ltd. 222.8 PR3 CARE BBBEss Dee Aluminium Ltd. 1725 PR1+ CARE AA-Essar Bulk Terminal Ltd 5400 PR3 CARE BBBEssar Constructions (India) Ltd. 18258.6 PR3 CARE BBBEssar Logistics Ltd. 1079.6 CARE A-Essar Oil Ltd. 94500 PR3 CARE BBB-Essar Power Gujarat Ltd. 36150 CARE BBBEssar Power Ltd. 8480.3 PR1 CARE AEssar Power M.P. Ltd. 36450 CARE BBBEssar Shipping Port & Logistics Ltd. 6142.5 CARE A+Essar Steel (Hazira) Ltd 54680 CARE BBBEssar Steel Orissa Ltd. 14310 CARE BBB-Essential Power Transmission Pvt. Ltd. 140.5 PR3 CARE BBB-Euro Ceramics Ltd. 3739.3 PR4 CARE BBEuro Multivision Ltd. 1305 PR3 CARE BBB-Eurobond Industries Ltd. 444.1 PR3 CARE BBBEverblue Apparel Ltd. 304.1 PR1+(SO) CARE AA(SO)Everest Infra Energy Ltd 1220 CARE BBBFact Software (Pvt.) Ltd 703.5 CARE BFantasy Diamond Cuts Pvt. Ltd 8 0 0 PR1(SO) CARE A+(SO)Fedders Lloyd Corporation Ltd. 2567.4 PR2+ CARE BBB+Federal - Mogul Goetze (India) Ltd. 2550.7 PR2 CARE BBB-Firestone International Pvt. Ltd. 3450 CARE A-First Leasing Co. of India Ltd. 5997.1 PR1+ CARE AA

Page 28: Rating Reckoner CARE

28

NAME OF ISSUER NAME OF ISSUERSHORTTERM

LONGTERM

AMOUNT(RS. MN)

SHORTTERM

LONGTERM

AMOUNT(RS. MN)

Flat Products Equipments (I) Ltd. 2800 PR2+ @ CARE A- @Flexituff International Ltd. 999.4 PR3+ CARE BBB+Fortis Healthcare Ltd. 1003 PR3 @ CARE BBB @Freyssinet Prestressed Concrete Co. Ltd. 391.5 PR2+ CARE A-Friends Salt Works & Allied Industries 420.4 PR4 CARE BB+Frost International Ltd. 9984 PR3 CARE BBB-G4S Security Services (India) Pvt. Ltd. 3 2 5 PR1+ CARE AA-Gallantt Metal Ltd. 1669.8 PR3 CARE BBBGammon India Ltd. 37000 PR1+ CARE AAGangavaram Port Ltd. 11600 CARE BBB+/

CARE BBBGangotri Enterprises Ltd. 4000 CARE BBBGannon Dunkerley Corporation Ltd. 10242.7 PR1+ CARE A+Garden Silk Mills Ltd. 11072.8 PR1+ CARE A+Garware Offshore Ltd. 5828.2 PR1+ CARE AA-Garware Offshore Services Ltd. 7415.1 PR1+ CARE AA-Garware Polyester Ltd. 5323.1 PR3 CARE BBBGati Infrastructure Ltd 2170 CARE BBB-Gati Ltd 3169.8 CARE A+Gautami Power Ltd. 12140 PR3 CARE BBB-Gayatri Hotels and Theatres (Pvt) Ltd. 4 0 0 CARE BBGayatri Projects Ltd. 22665.4 PR2+ CARE A-GDST Oxford International School Ltd 3 7 0 CARE BBB(SO)GEI Industrial Systems Ltd. 1920.4 PR2+ CARE A-Gemscab Industries Ltd. 1118.8 PR3 CARE BBB-Gennova Biopharmaceuticals Ltd. 336.9 PR2+(SO) CARE A(SO)Gennova Biopharmaceuticals Ltd. 4 0 CARE BBGharpure Engineering & Constructions Pvt. Ltd. 4 7 0 PR3+ CARE BBB+GHCL Ltd. 14341.8 PR3+ CARE BBB-Gili India Limited 8 0 0 PR1(SO) CARE A+(SO)Gitanjali Exports Corporation Ltd. 5500 PR2+ CARE A-Gitanjali Gems Ltd. 12000 PR1 CARE A+Globus Infocom Limited 2 6 0 PR3 CARE BBBGlobus Spirits Ltd. 211 PR2 CARE BBB+GMMCO Ltd. 2646.2 PR1+ CARE AAGoa Formulations Ltd. 153 PR3(SO) @ CARE BBB-(SO)Goa Glass Fibre Ltd. 665 PR3(SO) CARE BBB(SO)Godavari Sugar Mills Ltd., The 4400 PR3 @ CARE BBB- @Godawari Power & Ispat Ltd. 3703.6 PR1 CARE AGodhani Gems 1680 CARE BB+Godhani Impex 625.9 CARE BB+Gopi Synthetics Pvt. Ltd. 4 5 2 PR4 CARE BBGorakhpur Infrastructure Company Ltd 5754.3 CARE BBB+GPT Healthcare Pvt. Ltd 5 7 9 PR3 CARE BBBGPT Infraprojects Ltd 2066.5 CARE BBB+Grabal Alok Impex Ltd. 2779.3 PR1 CARE A-Granules India Ltd. 2025 PR4 CARE BGrasim Bhiwani Textiles Ltd. 4 1 7 PR1+(SO) CARE AAA(SO)Grasim Industries Ltd. 39892.1 PR1+ CARE AAAGreat Eastern Shipping Company Ltd., The 3120 PR1+ CARE AAAGreen Delhi BQS Ltd. 7 6 5 CARE BB(SO)Greenesol Power Systems Pvt Ltd 1500 CARE BBB+Gremach Infrastructure Equipments & Projects Ltd. 7 9 5 CARE BBB+GTL Ltd. 40000 PR2+ CARE AGTN Enterprises Ltd 1651.4 PR4 CARE BBGTN Textiles Ltd. 1610.3 PR4 CARE BBGujarat Alkalies & Chamicals Ltd. 3784.4 PR1+ CARE AAGujarat Anjan Cement Ltd. # #Gujarat Embroideries Ltd. 128.3 PR4 CARE BB+Gujarat JHM Hotel Ltd. 345.4 PR3+ CARE BBB

Gujarat NRE Coke Ltd. 16835 PR1+ CARE AA-Gujarat Pipavav Port Ltd. 4 7 0 PR1+(SO)Gujarat Polyfilms Pvt. Ltd. 795.3 CARE BB+Gujarat Road & Infrastructure Co. Ltd. 602.6 CARE BBB-Gujarat State Fertilizers & Chemicals Ltd. 13000 PR1+ CARE AAGujarat State Petronet Ltd. 16277.6 CARE AAGulshan Polycols Ltd. 415.8 PR2+ CARE A-Gupta Metallics & Power Ltd. 1627 PR4 CARE BB+Guwahati Carbon Ltd 2 3 3 PR3 CARE BBBGVK Airport Holdings Pvt. Ltd. 1020 CARE BBB+(SO)GVK Industries Ltd. 1038.48 PR3 CARE BBBGVK Power & Infrastructure Ltd. 1250 PR2+ CARE AGwalior Bypass Project Ltd. 2400 CARE BBBHanung Toys & Textiles Ltd. 4838 PR1 CARE AHari Krishna Exports 3960 CARE BBBHarish Chandra India Ltd. 6025 CARE BHaryana City Gas Distribution Ltd. 259.4 CARE BBHaryana Cybernet Private Ltd 2 0 0 PR1+(SO)Hatsun Agro Products Ltd. 2235.1 PR2 CARE BBB+Havells India Ltd. 5095 PR1+ CARE AAHazel Mercantile Ltd. 4342.4 PR1 CARE AHBL Power Systems Ltd 11078.5 PR1 CARE AHDB Financial Services Ltd. 5600 CARE AA+Heavy Metal & Tubes Ltd. 1419.3 PR4 CARE BB+Hemarus Technologies Ltd. 1640 CARE BBB-Himalyan Expressway Ltd. 2397 CARE BBBHindustan Aegis LPG Ltd 397.5 PR1+(SO) @Hindustan Aegis LPG Ltd 252.5 PR3Hindustan Construction Co. Ltd. 58320 PR1+ CARE AA-Hindustan Gum & Chemicals Ltd. 7 8 0 PR1+ CARE A+Hindustan National Glass & Industries Ltd. 6116 PR1+ CARE AAHiraco India Pvt. Ltd. 1350 CARE BHitech Print Systems Ltd 139.2 PR3 CARE BBBHNG Float Glass Ltd. 2850 PR2 CARE BBBHome Solutions Retail India Ltd. 3100 PR3 CARE BBB-Hotel LeelaVenture Ltd 14928 PR1 CARE A+Housing Development Finance Corporation Ltd. 196683.4 PR1+ CARE AAAHP Cotton Textile Mills Ltd. 195.6 PR4 CARE BHyderabad Ring Road Project Pvt. Ltd. 2650 CARE BBBICC Realty (India) Pvt. Ltd. 2720 CARE BBBIdea Celluar Ltd. 119265 PR1+ CARE AAIFGL Refractories Ltd. 6 2 4 PR1+ CARE A+IL&FS Transporation Networks Ltd. 5000 PR2 CARE BBB+Ilabs Hyderabad Technology Centre Pvt. Ltd. 734.3 PR3 CARE BBBIlabs Info Technology Center (Gurgaon) Pvt. Ltd. 4 7 0 CARE BIMP Powers Ltd. 1347.7 PR2 CARE BBB+Impex Metal & Ferro Alloys Ltd. 1200 PR3 CARE BBB-Ind Synergy Ltd. 4904.3 PR4 CARE BBIndian Extractions Ltd 294.4 PR4 CARE BBIndian Farmers Fertiliser Co-Operative Ltd. 180000 PR1+ CARE AAIndian Hotels Co. Ltd., The 3882.9 PR1+ CARE AA+Indian Hume Pipe Co. Ltd., The 3400 PR1+ CARE A+Indian Potash Ltd 48000 PR1Indian Smelting & Refining Co. Ltd. 7 7 0 PR1 CARE A-Indira Container Terminal Private Ltd. 8125.3 PR3 CARE BBB-Indo Alusys Industries Ltd. 471.3 PR3 CARE BBBIndo Asian Finance Ltd. 3 0 5 CARE BBB-Indo Count Industries Ltd. 2630 PR5 CARE DIneos ABS (India) Ltd. 1544 PR1+ CARE AA-Intas Biopharmaceuticals Ltd. 983.1 PR2+ CARE A-

Page 29: Rating Reckoner CARE

NAME OF ISSUER NAME OF ISSUER

29

SHORTTERM

LONGTERM

AMOUNT(RS. MN)

SHORTTERM

LONGTERM

AMOUNT(RS. MN)

Integrated Cleanroom Technologies Ltd. 1 9 2 PR2 CARE BBBInter Gold (India) Pvt. Ltd. 8 5 4 PR3 CARE BBBInterjewel Pvt. Ltd. 2250 CARE BBB+Intermarket (India) Pvt. Ltd. 277.4 PR3 CARE BBBInternational Conveyors Ltd. 3 7 3 PR2 CARE BBB+International Hospital Ltd. 3 6 8 CARE BBB-International Power Corporation Ltd. 267.9 CARE BBB+IOL Chemicals & Pharmaceuticals Ltd. 2809 PR2 CARE BBBIrcon International Ltd. 31350 PR1+ CARE AAAIris Computers Ltd. 1161 PR3 CARE BBBJ.B. & Brothers Pvt. Ltd. 3200 CARE BBBJ.B.Diamonds Ltd. 7020 CARE CJ.K. Cement Ltd. 6051.7 PR1+ CARE AJ.K. Tyre & Industries Ltd. 16138.6 PR1 CARE A-Jagat Agro Commodities Pvt. Ltd. 2 9 7 CARE BB+Jagdamba Power & Alloys Ltd. 449.1 CARE A-Jai Balaji Industries Ltd. 17618.5 PR2 CARE BBBJai Balaji Jyoti Steels Ltd. 2111 CARE BBB-Jaigad Power Transco Ltd. 4350 CARE BBBJaihind Projects Ltd. 9631 PR3 CARE BBBJain Infraprojects Limited 8200 PR3 CARE BBBJaiprakash Associates Ltd. 123503.7 PR1 CARE A+Jaiprakash Power Ventures Ltd. 8720.1 CARE BBB+Jaiprakash Sewa Sansthan 1256.9 CARE AJaipur Mahua Tollway Pvt. Ltd. 3394 CARE BBB-Jakhau Salt Company Pvt Ltd 510.5 PR3 CARE BBB-Jamna Auto Industries Ltd. 1855.9 PR4 CARE BBJanki Corp Ltd. 2588.6 PR3 CARE BBB-Janta Glass Ltd. 904.5 PR4 CARE BBJas Toll Road Co. Ltd. 1300 CARE AJasubhai Jewellers Pvt. Ltd. 507.5 PR4 CARE BB+Jay Chemical Industries Ltd. 2063.7 PR3+ CARE BBBJay Jay Mills (India) Private Ltd. 882.5 PR3 CARE BBB-Jaybharat Textiles & Real Estate Ltd. 2400 CARE BBB-Jaykaycem Ltd. 5250 CARE A(SO)Jaypee Cement Ltd. # #Jaypee Hotels Ltd. # #Jaypee Infratech Ltd 32000 CARE BBBJaypee Karcham Hydro Corporation Ltd. 39200 CARE BBBJaypee Powergrid Ltd. 7000 CARE BBBJaypee Power Ventures Ltd. 8720.1 CARE BBB+Jaypee Ventures Pvt. Ltd. 1218.8 CARE A-JBF Industries Ltd. 7480 PR1+ CARE AJewel Art 501.15 PR3 CARE BBB+Jewelex India Pvt. Ltd. 4300 CARE BBB+Jewellery Creators International Pvt. Ltd. 9 4 0 CARE A-Jindal Architecture Limited 4 8 7 PR4 CARE BBJindal ESIPL CETP (Sitarganj) Ltd 169.7 PR3 CARE BBB-Jindal SAW Ltd. 9199.1 CARE AA-Jindal Stainless Steelway Ltd. 633.3 PR2 CARE BBB+Jindal Water Infrastructure Ltd. 9 0 0 CARE BBBJK Lakshmi Cement Ltd. 9496.5 PR1+ CARE AA-JMC Projects (India) Ltd. 15350 PR1+ CARE AA-JMT Auto Ltd. 1885 PR3 CARE BBB-JOCIL Ltd. 182.5 PR1 CARE A+John Energy Ltd 3861.4 PR3+ CARE BBBJoshi Technologies International Inc - India Projects 544.2 CARE A+JPL Industries Ltd 184.8 PR4 CARE BBJSL Ltd. 90414 PR4 CARE CJSW Cement Ltd. 16000 CARE BBB

JSW Energy (Ratnagiri) Ltd. 33750 CARE BBBJSW Energy Ltd. 40786.9 PR1 CARE BBB+JSW Jaigarh Port Ltd. 5350 PR3 CARE BBBJSW Power Trading Company Ltd. 2680 PR2 CARE BBBJSW Steel Ltd. 215542.7 PR1+ CARE AA-Jupiter International Ltd. 8 1 4 PR2 CARE BBB+Jupiter Solar Power Ltd. 1365 PR3 CARE BBB-JV Gokal and Company Pvt. Ltd 941.5 PR3 CARE BBB-Jyoti Engineers & Contractors Pvt. Ltd. 6 5 0 PR4 CARE BB+Jyoti Structures Ltd. 32880 PR2+ CARE A-K. Girdharlal International Ltd. 4400 CARE A-K.G. Petrochem Ltd. 567.5 PR3 CARE BBB-K.P.R. Mill Ltd. 10341.2 PR2+ CARE A-Kadevi Engineering Co. Pvt. Ltd. 548.4 PR3 CARE BBBKaleesuwari Refineries Ltd. 3899.2 PR2 CARE BBB+Kalika Buildcon Pvt. Ltd. 72.5 CARE BBKalpataru Power Transmission Ltd. 39844.9 PR1+ CARE AAKalsaria Diamonds Pvt. Ltd. &Kalthia Engineering & Construction Ltd. 372.5 PR3 CARE BBBKamat Hotels (India) Ltd. 2109 PR3+ CARE BBB+Kandagiri Spinning Mills Ltd. 1194.6 PR4 CARE BBKankariya Textile Industries Pvt. Ltd. 1 8 1 CARE BBKaraikal Port Private Ltd 13730.7 CARE BBB-Karnavati Aviation Private Limited 768.2 PR1+(SO) CARE A+(SO)Karp Impex Ltd. 5600 CARE BBB-Karp Mfg. Co. 7 0 0 CARE BBB-KCP Sugars & Industries Ltd. 7 2 3 PR2+ CARE A-KEC International Ltd. 43823.2 PR1 CARE A+Keerthi Industries Ltd 7 3 9 CARE BBB-Kehems Engineering Private Ltd. 70.5 PR3 CARE BBB-KEI Industries Ltd. 6836.6 PR2+ CARE BBB+Kemrock Industries & Exports Ltd. 3918.8 PR3 CARE BBBKeshav Power Private Ltd 489.2 CARE BBBKesoram Industries Ltd. 20023.5 PR1+ CARE AAKetan Construction Ltd. 1748.1 PR3 CARE BBBKhadim India Ltd 9 5 4 PR3+ CARE BBB+Khaitan Chemicals & Fertilizers Ltd. 2175.6 PR2 CARE BBBKhanna Paper Mills Ltd. 5800.9 PR2 CARE BBB+Kiran Gems Pvt. Ltd. 8078.4 CARE BBB-Kiran Jewelry 1000 CARE BBB+Kiran Jewels #Kirby Building Systems India (Uttaranchal) P Ltd 3389.6 PR1 CARE AKirby Building Systems India Ltd 5793.9 PR1 CARE AKJV Alloy Conductors Pvt. Ltd. 2 4 5 PR3 CARE BBB-KMV Projects Ltd 8 0 0 PR3 CARE BBBKND Investment & Finance Ltd. 1 5 0 CARE BBKohinoor Foods Ltd. 3540 PR3 CARE BBB-Korba West Power Company Ltd 21700 CARE BBBKosi Bridge Infrastructure Co. Ltd. 3913 CARE AA-Kotsons Private Ltd 1075.9 PR4 CARE BB+Kottex Industries Pvt. Ltd 189.5 CARE BBKovai Medical Center and Hospital Ltd. 1932.6 PR3 CARE BBBKris Flexipacks Pvt. Ltd. 856.2 PR3+ CARE BBB+Krishna Lifestyle Technology Ltd. 2000 CARE BBB-Kriti Industries (India) Ltd. 1701.6 PR4 @ CARE BB+ @Kritilal Kalidas Jewellers (P) Ltd. 8 5 0 PR3 CARE BBB-KRYFS Power Components Ltd. 1182.5 PR1 CARE AKSL & Industries Ltd. 7125 PR3 CARE BBB-Kutch Salt Works & Allied Industries Ltd., The 416.7 CARE BBL&T Finance Ltd. 20480 PR1+ CARE AA+

Page 30: Rating Reckoner CARE

30

NAME OF ISSUER NAME OF ISSUERSHORTTERM

LONGTERM

AMOUNT(RS. MN)

SHORTTERM

LONGTERM

AMOUNT(RS. MN)

L&T Interstate Road Corridor Ltd. 2500 CARE AA(SO)L&T Vadodara Bharuch Tollway Ltd. 7 2 5 CARE BBBL&T Vadodara Bharuch Tollway Ltd. 11600 CARE BBB+Lambda Therapeutic Research Ltd 1096.1 PR1 CARE ALanco Industries Ltd. 5435 PR1+ CARE ALaqshya Hyderabad Airport Media Pvt. Ltd. 3 0 0 CARE BB+(SO)Laqshya Media Pvt. Ltd. 894.7 PR4 CARE BB+Lavasa Corporation Ltd 6970 CARE BBBLavasa Star Hotel Limited 8 1 0 CARE BBB(SO)Laxmi Board and Paper Mills Ltd. 316.3 PR3 CARE BBBLaxmi Enterprises 635.7 PR3 CARE BBB-Laxmi Power Cables Pvt. Ltd. 85.1 PR4 CARE BB+Leeds International Ltd. 246.2 PR4 CARE CLeo Meridian Infrastructure Projects and Hotels Ltd 4618.6 PR3 CARE BBBLGS Global Limited 4 0 0 PR3 CARE BBB-Little Flower Hospital Trust 325.9 PR3 CARE BBB-Loha Ispaat Ltd. 2460.7 PR3+ CARE BBBLoop Mobile India Ltd.(Erstwhile BPL Mobile Communications Ltd.) 8500 PR3 CARE BBB-Loyal Textile Mills Ltd 4962.4 PR3 CARE BBB-M & B Engineering Pvt Ltd 1297.3 PR3 CARE BBB-Macronet Mercantile Pvt. Ltd 15000 PR1+(SO)Madhav Marbles & Granites Limited 590.7 PR4 CARE BB+Madhu Silica Pvt. Ltd. 473.6 PR1+ CARE A+Maestros Medilne Systems Ltd. 1 4 8 PR3 CARE BBB-Magma Fincorp Ltd. 31310.1 PR1+ CARE AAMahabal Metals Pvt. Ltd. 557.9 PR3 CARE BBBMaharaja Shree Umaid Mills Ltd. 1435.1 PR3 CARE BBB-Maharashtra State Electricity Transmission Co. Ltd. 10000 CARE AMahatashtra State Power Generation Co. Ltd. 24400 PR1 CARE A-Mahendra Brothers Exports Ltd. 7000 CARE A-Mahindra & Mahindra Ltd. 3300 PR1+ CARE AA+Mahindra Engineering Services 4 3 0 CARE A+Mahindra Engineering Services Ltd 4 0 0 CARE A+Mahindra Forgings Ltd. 2162.2 PR3 CARE BBB-Maithan Alloys Ltd. 2850 PR1 CARE AMaithan Ceramic Ltd. 5 3 5 PR3 CARE BBBMaithan Ispat Ltd. 5316.1 PR3 CARE BBB-Malayala Manorama Company Ltd. The 2537 PR1+ CARE AA-Malegaon Manmad Kopargaon Infrastructure &Toll Road Pvt. Ltd 1500 CARE A-(SO)Malladi Drugs and Pharmaceuticals Ltd 8 2 7 PR4 CARE BManaksia Ltd. 4371.8 PR1+ CARE AAManali Petrochemical Ltd. 313.8 PR2+ CARE BBB+Mangalam Cement Ltd. 4 3 1 PR1+ CARE A+Manu Re-Rolling Mill Pvt. Ltd. 2 0 0 PR3 CARE BBB-Marco Cables Pvt. Ltd. 170.9 PR4 CARE BB+MBD Printographics Private Ltd 6 3 7 PR3 CARE BBBMcNally Bharat Engineering Co. Ltd. 24052 PR1+ CARE A+McNally Sayaji Engineering Ltd. 4 8 0 PR1 @ CARE A- @Meena Agency Ltd. 189.1 PR3 @ CARE BBB @Meghalaya Cements Ltd. 2075 CARE BBB+Meghmani Finechem Ltd. 3380 PR3 CARE BBB-Meher Foundation & Civil Engineers Pvt. Ltd 2 1 5 PR3 CARE BBBMehsana District CooperativeMilk Producers’ Union Ltd. 2898.3 PR1+ CARE AAMercator Lines (Singapore) Ltd. 1445 CARE AA-Mercator Lines Ltd 19010 PR1+ CARE AAMercator Offshore Ltd. 5880 CARE A+Mercator Offshore Ltd. 1715 CARE AA(SO)

Metal Impacts Pvt. Ltd. 9 0 PR3 CARE BBB-Metalman Industries Ltd. 2246.4 PR4 CARE BBMetrochem API Pvt. Ltd. 139.9 PR3 CARE BBB-Michigan Engineers Pvt. Ltd 1768.2 CARE A-Micro Inks Ltd. 9841.8 PR1+ CARE AAMission Vivacare Ltd. 2711.5 PR2 CARE A-MITCON Foundation 248.4 CARE BBB-Mittal Appliances Ltd. 1034.5 PR3 CARE BBB-Mittal Corp Ltd. 1101.6 PR4 CARE BBMMTC Ltd. 124000 PR1+ CARE AAMobile Store Ltd., The 1000 CARE BBB-(SO)Mohan Breweries & Distilleries Ltd. 4420.3 PR3 CARE BBBMoney Matters Financial Services Ltd 1000 CARE BBB-Moneyline Credit Limited 2 0 0 CARE AA-(SO) *Monnet Ispat & Energy Ltd. 8829 PR1+ CARE A+Montecarlo Construction Ltd. 1700 CARE BBBMoser Baer India Ltd 23976.8 PR3 CARE BBB-Mother Dairy Fruit and Vegetable Pvt. Ltd. 9100 PR1+ CARE AA+MRF Ltd. 8450 PR1+ CARE AA+MSK Projects (India) Ltd.(Corpn Bank & IDBI Bank)) 2125 PR3+ CARE BBB+MSK Projects (India) Ltd.(Corporation Bank) 122.6 CARE A(SO)MSK Projects (India) Ltd.(Dena Bank) 3 7 0 CARE A-(SO)MSK Projects (India) Ltd.(IDBI Bank) 1 3 0 PR3+MSK Projects (India) Ltd.(Punjab National Bank) 179.8 CARE A-(SO)MSK Projects (India) Ltd.(Various Bank & FIs) 308.9 CARE BBB+MSP Metallics Ltd. 4621 CARE BBB-MSP Sponge Iron Ltd. 584.8 PR2 CARE BBB+MSP Steel & Power Ltd. 2818 PR2 CARE BBBMSTC Ltd. 60450 PR1+ CARE AMukand Ltd. 12505.1 PR4 CARE BB+Mumbai Nasik Expressway Ltd. 6500 CARE BBB+Mumbai Sez Ltd. 28170 CARE BBBMurli Industries Ltd. 8058.4 PR2+ CARE BBB+Nafto Gaz India Pvrt. Ltd. 2000 PR4 CARE BB+Nagarjuna Fertilizers & Chemicals Ltd. 11112.6 PR3 CARE BBB-Nagreeka Exports Ltd. 2076.7 PR4 CARE BB+Nakoda Textile Industries Ltd. 6178.9 PR2+ CARE BBB+Nalwa Steel & Power Ltd. 700.5 PR1 CARE ANandan Exim Ltd. 893.5 PR4 CARE BNaresh Kumar & Co. Pvt. Ltd 8 9 5 PR3+ CARE BBB+Nargarjuna Agrichem Ltd. 1250 PR2+ CARE A-Narmada Hydroelectric Development Corpn. Ltd. 29000 CARE AANational Aluminuim Co. Ltd. 8500 PR1+ CARE AAANational Engineering Industries Ltd. 4518 PR1+ CARE A+National Organic Chemical Industries Ltd. 2350 PR3+ CARE A-Navabharat Power Pvt Ltd 7 5 0 PR4 CARE BB-Navi Mumbai SEZ Pvt. Ltd. 46000 CARE ANavin Fluorine International Ltd. 1593.1 PR1 CARE ANavin Gems 1560 CARE BBB-Neelachal Ispat Nigam Ltd. 1681.5 PR2+ CARE A-Neelachal Ispat Nigam Ltd. 13598.9 CARE AA(SO)Neesa Infrastructure Ltd 4 0 4 PR3 CARE BBB-Neesa Leisure Ltd. 3721.5 PR2 CARE BBB+Neo Carbons Pvt. Ltd 1 7 0 PR3 CARE BBBNeo Corp International Ltd 549.5 PR3 CARE BBB-Network Systems and Technologies Pvt. Ltd 6 4 5 PR3 CARE BBB-Nilachal Iron & Power Ltd. 5 2 3 PR3 CARE BBB-Nilkamal Ltd. 3602.6 PR1+ CARE A+Nirmal BOT Ltd. 2520 CARE BBB+Niru Impex 2141.5 CARE D

Page 31: Rating Reckoner CARE

31

NAME OF ISSUER SHORTTERM

LONGTERM

AMOUNT(RS. MN)

NAME OF ISSUER SHORTTERM

LONGTERM

AMOUNT(RS. MN)

Niru Jewels Pvt. Ltd. 3 3 0 CARE DNITCO Ltd. 11065.7 PR1 CARE ANitin Spinners Ltd. 2938.5 PR4 CARE CNOCIL Ltd. 2350 PR3+ CARE A-North Karnataka Expressways Ltd. 5151.7 CARE AA-Nuclear Power Corp. of India Ltd. 61860 CARE AAAOceanus Dwellings (P) Ltd 5 0 0 CARE BBOmkar Textile Mills Private Limited 2 4 9 PR4 CARE BBOracle Granito Ltd 857.9 PR3 CARE BBBOrient Abrasives Ltd. 837.4 PR1+ CARE A+Orient Craft Limited 6915.2 PR3 CARE BBBOrient Paper & Industries Ltd. 2043 PR1+ CARE AA-Oriental Pathways (Agra) Pvt. Ltd. 1380 CARE BBBOriental Pathways (Indore) Pvt. Ltd. 3900 CARE BBB-Oriental Pathways (Nagpur) Pvt. Ltd. 1950 CARE BBB-Oriental Structural Engineers Pvt. Ltd. 7000 PR1 CARE AOverseas Polymers Pvt. Ltd. 1300 PR3+ CARE BBB+P&C Constructions (P) Ltd. 9 5 0 PR3 CARE BBB-PAE Ltd. 2 2 5 PR1 CARE A-Panacea Biotec Ltd. 14519.4 PR1 CARE APanama Petrochem Ltd 1630 PR1+ CARE A+Panchshil Corporate Park Pvt. Ltd. 5700 CARE BBBPanchshil Infrastructure Holdings Pvt. Ltd. 9 7 0 CARE BBBParabolic Drungs Ltd. 5069.3 PR4 CARE BBParamount Minerals & Chemicals Ltd. 8 4 8 PR3 CARE BBBParekh Aluminex Ltd. 3825 PR1+ CARE A+Parenteral Drugs (India) Ltd. 2276.9 PR2 @ CARE BBB+ @Parinee Developers Pvt. Ltd. 2841 CARE BBBPatel Engineering Ltd. 33851.6 PR1+ CARE AAPatel Infrastructure Pvt. Ltd. 1038.5 PR3 CARE BBB-Patel KNR Heavy Infrastructure Pvt. Ltd. 4800 CARE BBB-Patel KNR Infrastructure Pvt. Ltd. 4150 CARE BBBPatels Airtemp (India) Ltd 2 2 0 PR1 CARE APatspin India Ltd 3549.8 PR4 CARE BB-Patwardhan Infrastructure Pvt. Ltd. 227.1 CARE BBB-PBM Polytex Ltd 7 9 5 PR4 CARE BB+Pengg Usha Martin Wires Pvt. Ltd. 3 0 5 PR3 CARE BBB-Penna Cement Industries Ltd 5012.7 PR1 CARE APennar Industries Ltd. 1868.5 PR2 CARE BBB+Pest Control (India) Pvt. Ltd 278.6 PR1 CARE APetron Engineering Construction Ltd. 3340.9 PR3 CARE BBB-PG Foils Ltd. 7 8 4 PR2+ @ CARE BBB+ @Pheroze Framroze & Company Pvt. Ltd. 3 2 0 CARE BBBPipavav Shipyard Ltd. 18822.6 PR3+ CARE BBB+PL Engineering Ltd 5 0 0 PR1+(SO) CARE AA(SO)Plasser India Pvt. Ltd. 5 0 0 PR1+ CARE A+Plethico Pharmaceutical Ltd 3221.3 PR3 CARE BBB-PMC Projects (India) Pvt. Ltd. 5 2 5 CARE BBPMT Machines Ltd. 3693.1 PR1+ CARE APNC Infratech Ltd. 7900 PR2 CARE BBB+Polyplex Corporation Ltd. 1000 PR2+ CARE APower Build Ltd. 463.5 PR2 @ CARE BBB+ @Power Grid Corporation of India Ltd. 21958.4 PR1+ CARE AAAPPN Power Generating Co. Pvt. Ltd. 7986.5 PR1+ CARE A+Pratibha Fabrics Ltd. 1 8 6 PR3 CARE BBB-Pratibha Syntex Pvt. Ltd. 5217.5 PR2+ CARE BBB+Prayas Engineering Pvt. Ltd. 807.8 PR2+ CARE A-Precision Wires India Ltd. 3000 PR2+ CARE BBB+Prem Cables Pvt. Ltd. 6 5 0 PR2+(SO) @ CARE BBB+(SO) @Premier Ltd. 1250 PR3+ CARE BBB+

Prestige Education Society 62.5 CARE BBB+Privi Organics Ltd. 1782.5 PR3 CARE BBB-Priyadarshini Sahakari Soot Girani Ltd. 5 0 0 CARE BBProcyon Offshore Services Ltd. 1 0 4 PR3+ CARE BBB+Promac Engineering Industries Ltd. 1404.8 PR3 CARE BBBProminent Tours & Travels Pvt. Ltd. 1252.7 CARE BBPunj Lloyd Ltd. 109108.5 PR1+ CARE AAPunjab Biomass Power Ltd. 514.5 CARE BBB-Punjab Chemicals & Crop Protection Ltd. 2240 PR4 CARE BB+Punjab Formulations Ltd. 2 1 4 PR3 @ CARE BBB @Punjab State Co-operative Supply &Marketing Federation 8000 PR3 CARE BBBPunjab State Electricity Board 76211 PR4 CARE BB+Punya Gold India Ltd 105.5 CARE BBB-PVR Spinning & Weaving Ltd 367.9 CARE BBQuatrro BPO Solutions Pvt. Ltd 952.9 CARE BBB-R. S. Software (India) Ltd 2 5 0 CARE BBB-R.K. Marble Pvt. Ltd. 639.9 CARE A+R.K. Industries 4 0 0 PR4 CARE BB-Raajratma Fasteners Pvt. Ltd. 338.5 PR3(SO) CARE BBB-(SO)Radheshyam Ginning Pressing Pvt. Ltd. 1 0 0 CARE BBRadico Khaitan Ltd. 6860 PR1 CARE A-Raffles Square Development Pvt. Ltd. 494.7 CARE BBB-Raheja Developers Pvt. Ltd. 2500 PR3 CARE BBB-Raj Homes Pvt. Ltd. 320.1 CARE BB+Raj West Power Ltd. 37500 CARE BBBRajasthan Electronics & Instruments Ltd. 3 1 0 PR3 CARE BBBRajasthan Rajya Vidyut Prasaran Nigam Ltd 1833.4 CARE BBBRajendra Electrical Industries Ltd. 184.1 PR3 CARE BBB-Rajendra Ravindra Printers Pvt. Ltd. 1 2 0 CARE BBBRama Cylinders Ltd. 1315 PR2 CARE BBB+Ramky Elsamex Hyderabad Ring Road Ltd. 2629 CARE BBB @Ramky Elsamex Hyderabad Ring Road Ltd. 2 5 0 CARE BBB- @Ramsarup Industries Ltd. 12964 PR3 CARE BBB-Ranbaxy Laboratory Ltd. 9000 PR1+Ranjit Buildcon Ltd. 2400 PR1 CARE A-Rashmi Housing Pvt. Ltd. 5 5 0 CARE BB+Rathi Industries Ltd. 210.2 PR3 CARE BBBRatnakala Exports Pvt. Ltd. 717.8 CARE BBBRaymond Apparel Ltd. 8 5 0 PR1+ CARE A+Raymond Ltd. 14300 PR1+ CARE AARaymond Woolen Outerwear Ltd. 216.8 PR1+(SO) CARE AA(SO)Raymond Zambaiti Pvt. Ltd. 1727.1 PR2+ CARE BBB+Reacon Engineers (I) Pvt. Ltd 2000 PR3 CARE BBBRegen Powertech Private Ltd 1588 PR4 CARE BB+Regent Granito (I) Ltd. 531.8 PR3 CARE BBB-Rei Agro Ltd. 34039.6 PR1 CARE ARelcon Infraprojects Pvt. Ltd 8 8 2 PR3 CARE BBB-Reliance Big TV Ltd 9 0 0 PR1+(SO)Reliance Capital Ltd. 27350 CARE AAAReliance Communications Infrastructure Ltd 11800 PR1+(SO)Reliance Gas Transportation Infrastructure Ltd. 118600 CARE AAAReliance Pharmaceuticals Pvt. Ltd. 10810 CARE BBBReliance Ports & Terminals Ltd. 33785.4 CARE AAAReliance Utilities & Power Ltd. 8059.7 CARE AAAReliance Webstore Ltd. 2 0 0 PR1+(SO)Remi Metals Gujarat Ltd. 2750 PR4 CARE BBREMI Process Plant & Machinery Limited 2 2 0 PR2 CARE BBBResurgere Mines & Minerals India Ltd. 1480 PR2 CARE BBB+Rewa Tollway Pvt. Ltd. 486.2 CARE BB+Ridhi Petrochem Pvt. Ltd. 2 4 0 CARE BBB-Rindiam Export 1 9 2 CARE BB

Page 32: Rating Reckoner CARE

NAME OF ISSUER NAME OF ISSUERSHORTTERM

LONGTERM

AMOUNT(RS. MN)

SHORTTERM

LONGTERM

AMOUNT(RS. MN)

32

Rithwik Projects Private Ltd 9639.3 PR2 CARE A-Ritnand Balved Education Foundation 3478.7 PR1 CARE ARoad Infrastructure Co. of Rajasthan Ltd. 11000 CARE BBB-Rockwood Hotels & Resorts Ltd. 1212.3 CARE BRohit & Company 1000 PR3 CARE BBB-Rohit Ferro-Tech Ltd. 3486.1 PR3 CARE BBB-Rolta India Ltd. 5000 PR1+ CARE A+RSWM Ltd. 13280 PR3 CARE BBB-Ruby Macons Ltd. 509.2 PR1+ CARE ARuchi Acroni Industries Ltd. 6 1 5 PR4 CARE BB+Ruchi Global Ltd. 1937.4 PR4 CARE BB+Ruchi Soya Industries Ltd. 35825.9 PR2+ CARE A-Rungta Rayon Tex Private Ltd. 365.3 PR4 CARE BBRushil Décor Ltd 384.4 PR4 CARE BBS. Chand & Co. Ltd. 440.51 PR1 CARE AS. Jogani Exports Pvt. Ltd 555.7 PR3 CARE BBB-Sadbhav Engineering Ltd. 11750 PR1+ CARE AA-Sagar Wines Marketeers Pvt Ltd 1 3 0 CARE BBB-Sahara Hospitality Ltd. 2110.1 PR3 CARE BBBSai India Ltd. 1028 PR3 CARE BBB-Sai Infosystem (India) Ltd 4154.4 PR3 CARE BBB-Saisudhir Infrastructures Ltd. 5000 PR3 CARE BBB+Sakal Papers Ltd. 1722.1 PR1 CARE A-Sakuma Exports Ltd. 3 0 0 PR2 CARE BBB+Sambandam Spinning Mills Ltd. 1661.9 PR4 CARE BBSambhaav Media Ltd. 486.4 PR4 CARE BBSami Labs Ltd. 450.3 PR3 CARE BBBSandeep Metalcraft Pvt. Ltd. 163.9 PR3 CARE BBBSangam (India) Ltd. 7787.7 PR4 CARE BB+Sanghavi Diamonds Private Limited 9 0 CARE BBSanghavi Exports International Pvt. Ltd. 6500 CARE BBB+Sanghavi Jewel Pvt. Ltd. 886.7 PR2 CARE BBB+Sanghi Brothers (Indore) Pvt. Ltd. 580.3 PR3 CARE BBB-Sanghvi Forging & Engineering Ltd. 153.9 PR3+ CARE BBBSanjay Chemicals (India) Pvt. Ltd 4 2 6 PR4 CARE BB+Sanwaria Agro Oils Ltd. 1715 PR2 CARE BBBSapthagiri Educational Trust 543.5 CARE BBB-Sarda Energy & Minerals Ltd. 6276.1 PR1+ CARE AA-Saregama India Ltd. 4 5 5 PR3+ CARE BBBSatellite Developers Ltd. 4000 CARE BBB-Sathavahana Ispat Ltd. 6490 PR2 CARE BBB+Satish Sugars Ltd. 635.1 PR3 CARE BBBSatnam Developers & Finance Pvt. Ltd. #Satyam Motors Pvt. Ltd 157.1 PR4 CARE BB+Savex Computers Ltd. 1080 PR2+ CARE A-SBQ Steels Ltd. 2530 CARE BB+SCG Exports Pvt. Ltd. 7 3 0 PR4Sea Lord Containers Ltd. 4 5 0 CARE AA-(SO) @Secure Meters Ltd. 7285.9 PR1 CARE A+SEL Manufacturing Co Ltd. 5499.1 PR3 CARE BBBSembawang Engineers & Constructors Pte Ltd 15836.3 PR1+(SO) CARE AA(SO)Semco Electric Pvt. Ltd. 1130 PR1 CARE A+Serum Institute of India Ltd. 6460 PR1+ CARE AAASeshasayee Paper & Boards Ltd. 4190 PR1 CARE A+Shah Alloys Ltd. 5580 PR5 CARE DShah Paper Mills Ltd. 1065.4 PR3 CARE BBBShairu Gems 1392 CARE BBB-Shakti Bio Science Ltd 174.7 PR4 CARE BShakti Investcap Private Ltd. 2 5 0 CARE BBBShalimar Paints Ltd. 1120 PR2+ CARE AShanthi Poultry Ltd 5 7 1 PR3 CARE BBB-Sharon BioMedicine Ltd. 1715 PR1 CARE ASharp Ferro Alloys Ltd. 929.5 PR3 CARE BBB-Sharus Steel Products Ltd. 112.5 PR1+(SO) CARE AA(SO)

Shiv Edibles Ltd 1 9 8 PR3+ CARE BBBShivalik Bimetal Controls Ltd. 418.4 PR2 CARE BBB+Shiv-Vani Oil & Gas Exploration Services Ltd. 12800.2 PR2 CARE BBB+Shore to Shore Logistics India Ltd. 1205 PR3 CARE BBB-Shree Cement Ltd. 11721 PR1+ CARE AA+Shree Ganesh Jewellery House Ltd. 13000 PR1Shree Rajeshwaranand Paper Mills Ltd. 182.5 CARE BBShree Ram Steel & Rolling Industries 247.5 PR4 CARE BB-Shree Ram Vessel Scrap Pvt. Ltd. 351.5 PR4 CARE BB+Shree Ramakrishna Exports 4526.3 CARE BB+Shree Shubham Logistics Ltd. 1020 CARE BBB-Shree Sulphurics Pvt. Ltd. 119.8 PR3+ CARE BBBShrenuj & Company Ltd. 5745 CARE AShrey Industries Pvt. Ltd. 4 6 0 PR3 CARE BBB-Shri Jalaram Rice Industries Pvt Ltd 909.4 PR4 CARE BB+Shri Lakshmi Cotsyn Ltd. 4941.2 PR3 CARE BBB+Shri Lal Mahal Ltd. 3938 PR4 CARE BB+Shyam Steel Industries Ltd. 1871 PR3+ CARE BBBSikka Papers Ltd. 698.3 CARE DSilver Spark Apparel Ltd. 4 6 0 PR1+(SO) CARE AA(SO)Simplex Castings Ltd 1130 PR3 CARE BBBSimplex Infrastructure Ltd. 80000 PR1+ CARE AA-Simplex Projects Ltd. 6325 PR1 CARE A-Singareni Collieries Co. Ltd. The 1510 CARE AASinhgad Technical Education Society 3834.8 PR3 CARE BBBSintex Industries Ltd 12301.4 PR1+ CARE AA+Siro Clinpharm Pvt. Ltd. 5 3 0 PR2+ CARE A-SKIL Infrastructure Ltd. 1500 CARE BB+Skipper Steels Ltd. 1773 PR3 CARE BBBSKM Egg Products Export India Ltd. 2878 PR2 CARE BBB+SKS Ispat & Power Ltd. 3916 PR2+ CARE A-SMS Paryavaran Ltd. 8 4 4 PR3 CARE BBBSMS Pharmaceuticals Ltd 1757 PR2 CARE A-SMS Shivnath Infrastructrure Ltd. 106.6 CARE BBB+Soma Textiles & Industries Ltd. 1713.9 PR5 CARE DSona Alloys Pvt. Ltd. 2258 CARE BB-Soni Ispat Ltd. 2391 PR4 CARE BBSouth India Corporation Ltd. 2079 PR2+ CARE A-South India Edible Pvt. Ltd. 5 2 0 PR3 CARE BBB-South West Port Ltd. 3 5 0 PR1Sovereign Pharma Pvt. Ltd. 145.8 PR3+ CARE BBB+Spanco Ltd. 10639 PR3 CARE BBBSpectrum Dyes & Chemicals Ltd. 913.5 PR3 CARE BBB-Spentex Industries Ltd. 7557 PR5 CARE DSPS Steel & Power Ltd 7703.4 PR3 CARE BBB-SPS Steels Rolling Mills Ltd 5 3 0 PR3 CARE BBB-Spykar Lifestyles Pvt. Ltd. 1345.1 PR3 CARE BBB-Sree Jayajyothi Cements Ltd. 4190 CARE BSree Jayajyothi Cements Ltd. 3 0 0 CARE BSree Renuga Textiles LTd 2327.7 PR4 CARE BBSrei Equipment Finance Pvt. Ltd. 59777 PR1+ CARE AASrei Infrastructure Finance Ltd. 24750 PR1+ CARE AASri Jayajothi Textile Mills Ltd. 976.1 PR4 CARE BSripathi Paper Boards Private Ltd 559.5 PR3 CARE BBB-SRM Institute of Science & Technology 3658.2 PR3 CARE BBBStamlo Hotels Private Ltd 7 0 0 CARE BBB(SO)*Standard Fireworks (P) Limited 1531.7 PR2 CARE BBB+Stelco Strips Limited 785.6 PR4 CARE BB+Sterling Addlife India Ltd. 7 4 5 CARE A-Sterling Biotech Ltd. 11546.8 PR1 CARE A

Page 33: Rating Reckoner CARE

NAME OF ISSUER NAME OF ISSUERSHORTTERM

LONGTERM

AMOUNT(RS. MN)

SHORTTERM

LONGTERM

AMOUNT(RS. MN)

33

Sterling Gems 6 0 0 CARE BBSterling SEZ Infrastructure Ltd. 9 9 2 CARE BBBStewarts & Lloyds of India Ltd. 1350 PR1 CARE ASubex Ltd. 1160 PR3 CARE BBB-Subh Exports 1 2 0 CARE BB+Subharati KKB Charitable Trust 749.2 PR4 CARE BB+Sujana Metal Products Ltd 6911.8 PR3 CARE BBB-Sujana Universal Industries Ltd. 1952.9 PR3 CARE BBB-Sukhjit Starch & Chemicals Ltd., The 63.64 PR1 CARE A+Sun Direct Tv PVt LTd 12575 CARE BBBSundaram Exports 2 0 0 CARE BBSunflag Iron & Steel Co. Ltd. 6458.5 PR1 CARE ASunil Healthcare Ltd. 257.1 PR4 CARE BBSun-n-Sand Hotels Pvt. Ltd. 8 8 0 PR1 CARE A+Sunshine Oleochem Pvt. Ltd. 836.8 PR4 CARE BB+Suntechnics Energy Systems Pvt. Ltd. 213.5 PR3 CARE BBB-Super Smelters Ltd 1500 PR4 CARE BB+Supernova Engineers Ltd. 826.1 PR2+ CARE A-Supreme Tex Mart Ltd. 2838.8 PR4 CARE BBSuraj Stainless Ltd. 1334.3 PR3 CARE BBB-Surya Food & Agro Ltd. 1 0 0 CARE BBB+Surya Gems Ltd. 6 0 0 CARE BSurya Roshni Ltd. 5008.5 PR2 CARE BBB+Sushee Hi Tech Constructions Pvt. Ltd. 16000 PR2 CARE BBBSuzuki Textiles Ltd. 1951 PR4 CARE BB-Swarna Tollway Pvt. Ltd. 3312 CARE BBB+Symbiotec Pharmalab Ltd 552.1 PR3 CARE BBB-T Two International Pvt. Ltd. # #TAG Offshore Ltd 1257.8 PR2+ CARE BBB+Taj Sats Air Catering Ltd. 4 0 0 PR1+ CARE AATamilnadu Civil Supplies Corporation Ltd. 237.5 PR1+(SO) CARE A+(SO)Tamilnadu Petroproducts Ltd. 1980 PR3 CARE BBB-Taneja Developers & Infrastructure (Panipat) Ltd. 1440 PR4 CARE BTaneja Developers & Infrastructure Ltd. 1100 PR4 CARE BTantia Construction Ltd. 5080 PR1 CARE ATapi Prestressed Products Ltd. 9 7 5 PR2+ CARE A-Tara Jewels Pvt. Ltd. 2750 PR2+ @ CARE A- @Tarsons Products Pvt. Ltd. 4 5 3 CARE BBBTATA Bluescope Steel Ltd. 11850 PR2 CARE BBBTATA Capital Ltd. 39850 PR1+ CARE AA+TATA Chemicals Ltd. 33000 PR1+ CARE AA+TATA Communications Ltd. 18335 PR1+ CARE AAATATA Housing Development Co. Ltd. 7 5 0 CARE ATata Realty and Infrastructure Ltd. 2000 PR1+ CARE AATATA Technologies Ltd. 5 0 0 PR1+ CARE AATATA Tele Services (Maharashtra) Ltd. 31414.1 PR2+ CARE A-Tata Teleservices Ltd. 2500 PR1+ CARE A+TBZ Nirmal Zaveri Pvt. Ltd. 276.7 CARE BBBTCPL Packaging Ltd. 923.4 PR2 CARE BBB+TDI Infrastructure Ltd. 4892.7 PR4 CARE BTeach for India Education & Research Samiti 8 7 CARE BBB-Tech Mahindra Ltd. 14500 PR1+ CARE AAATeesta Rangit Pvt. Ltd 4 0 0 CARE BB-Tehri Pulp and Paper Limited 7 7 0 PR4 CARE BBTEIL Projects Ltd 1300 PR1+(SO) * CARE AA-(SO) *Terapanth Foods Ltd. 3 5 0 PR4 CARE BBTexmaco Ltd. 13289 PR1+ CARE AA-The Oudh Sugar Mills Ltd 7627 PR3 CARE BBB-Theis Precision Steel India Pvt. Ltd. 4 2 0 PR2 CARE BBB+Thirumalai Chemicals Ltd. 4523.3 PR3 CARE BBB

Tiger Steel Engineering (India) Pvt. Ltd. 1686.1 PR5 CARE DTikaula Sugar Mills Ltd. 820.3 CARE BBTIL Ltd. 2677.5 PR1+ @ CARE A+ @Timarpur Okhla Waste ManagementCompany Pvt. Ltd. 1420 CARE BBB-Tower Vision India Private Ltd 8330 CARE BBB-Toyo Engineering Ltd. 2720 PR1+ CARE A+Tractor Engineers Ltd. 7 7 0 PR1+ CARE A+Transformers & Rectifiers (India) Ltd. 3222.6 PR1+ CARE A+Transpares Ltd 122.6 PR1+(SO) CARE A+(SO)Transweigh India Ltd. 347.2 PR2 CARE BBB+Trent Ltd. 2523 PR1+ CARE AA-TRF Ltd. 16700 PR1+ CARE AA-Trichy Tollway Pvt. Ltd. 4859.2 CARE BBBTrichy Tollway Pvt. Ltd. 5 5 0 CARE BBB-Trimax IT Infrastructure & Services Ltd. 8 5 0 PR3 CARE BBB-TT Limited 3638.5 PR4 CARE BBTTL Ltd. 9 5 0 PR4 @ CARE BB+ @Tulip Telecom Ltd. 4315.6 PR1 CARE A+Tulsi Extrusions Ltd 276.7 PR4 CARE BB+TVS Motor Company Ltd 5250 CARE A+U.M. Cables Ltd. 1200 PR2+ CARE BBB+UAE Exchange & Financial Services Ltd. 1150 PR3 CARE BBBUAL Industries Ltd. 800.4 PR3 CARE BBBUIC Udyog Ltd. 1688 PR1 CARE A-Umiya Ceramic Pvt. Ltd. 1014 PR4 CARE BBUni-Design Jewellery Private Ltd. 7 0 0 CARE BBB+Uniflex Cables Ltd. 5 0 0 CARE A+(SO)Uniflex Cables Ltd. 1200 PR2(SO) CARE BBB+(SO)Unit Construction Co. Pvt. Ltd. 777.9 PR3 CARE BBBUnited Phosphorous Ltd. 35720 PR1+ CARE AA+Unitel Credit Pvt. Ltd 251.7 CARE BBB-Unity Infraprojects Ltd. 14888.8 PR2+ CARE BBB+Universal Cables Ltd. 3549.8 PR1 CARE A-Universal Chemicals & Industries Pvt Ltd 807.4 PR4 CARE BB+Upper Ganges Sugar & Industries Ltd. 4544 PR3 CARE BBB-Usha Martin Ltd. 16250 PR1+Ushdev International Ltd. 6000 PR3+ CARE BBBUtkarsh Tubes & Pipes Ltd. 1295 PR3 CARE BBB-Vadinar Power Co. Ltd 25500.8 CARE BBB+Valecha Engineering Ltd. 3650 PR1 CARE AValley Iron & Steel Co. Ltd. 1243.7 PR2 CARE BBBValliammai Society 188.8 CARE BBBVarron Industries Ltd. & &Varsana Ispat Ltd. 6034 PR4 CARE BB+Vascon Engineers Ltd. 1600 PR3 CARE BBBVenus Wire Industries Pvt. Ltd. 529.7 PR3 CARE BBB-Vestas Wind Technology India (P) Ltd. 3600 PR1 CARE A+Viceroy Hotels Ltd. 5295 PR2 CARE BBB+Vijay Tanks & Vessels Limited 3424.8 PR2+ CARE A-Vikash Metal & Power Ltd. 1150 PR3 CARE BBB-Vindhya Telelinks Ltd. 8 5 0 PR3 CARE BBB-Vippy Spinpro Ltd. 236.7 PR3+ CARE BBB-Vipul Impex & Infrabuild Ltd. 1090 PR4 CARE BViraj Profiles Ltd. 29584.6 PR2+ CARE BBB+Virdev Intermediates Pvt. Ltd. 1 9 5 PR4 CARE BBVisa Comtrade Ltd. 7500 PR3Visa Steel Ltd. 22011 PR2+ CARE BBB+Visaka Industries Ltd. 2270.1 PR1+ CARE A+Vishal Retail Ltd. 2920.4 # CARE CVishal Structurals Pvt. Ltd. 182.9 PR3 CARE BBB+Vivimed Labs Ltd. 5 9 5 PR1 CARE A-

Page 34: Rating Reckoner CARE

NAME OF ISSUER NAME OF ISSUERSHORTTERM

LONGTERM

AMOUNT(RS. MN)

SHORTTERM

LONGTERM

AMOUNT(RS. MN)

34

VNR Infrastructure Ltd. 507.1 PR3 CARE BBBVST Motors Ltd. 3 5 0 PR3 CARE BBBVulcan Industrial Engineering Co. Ltd 624.6 PR4 CARE BBWardha Power Company Pvt. Ltd. 11000 CARE BBB-Webel SL Energy Systems Ltd. 2733 PR3 CARE BBB-Weizmann Forex Ltd. 701.2 PR3 CARE BBB+Welspun Gujarat Stahl Rohren Ltd. 79360.8 PR1+ CARE A+Welspun India Ltd 19620.5 PR1 CARE AWelspun Power & Steel Ltd. 1191.1 PR2 CARE BBBWelspun Syntex Ltd. 1157.4 PR4 CARE BB+West Bengal State Electricity Transmission Co. Ltd. 3000 CARE AWest Coast Paper Mills Ltd., The 8115 PR1+ CARE A+West Gujarat Expressways Ltd. 1641.3 CARE BBB-West Haryana Highways Projects (Pvt.) Ltd. 4102.3 CARE BBBWest Haryana Highways Projects (Pvt.) Ltd. 293 CARE BBB-Wires and Fabriks (S.A.) Ltd. 701.6 PR3+ CARE BBBWorlds Window Impex India Pvt. Ltd 1660 PR3 CARE BBB-WPIL Ltd. 1300 PR2+ CARE BBB+XL Telecom & Energy Ltd. 4358.3 PR4 CARE BYadu International Ltd 150 CARE BBB+Zee Entertainment Enterprises Ltd. 2500 PR1+ CARE AAZenith Birla (India) Ltd. 2024 PR4 CARE BB+Zeppelin Mobile Systems India Ltd. 648.5 PR2+ CARE BBB+Zicom Electronic Security Systems Ltd. 975 PR2 CARE BBB+Zoom Automobile Ancillaries Pvt. Ltd. 185 CARE BB+Zoom Developers Pvt. Ltd. 26000 PR5 CARE DZuventus Healthcare Limited 400 CARE BBB-Zuventus Healthcare Limited 1 8 0 CARE A(SO)

$ Rating not in use Notice of Withdrawal& Rating suspended% Instrument redeemed* In Principle rating subject to compliance to stipulated conditions£ For latest updates and comprehensive list please refer our website.

Page 35: Rating Reckoner CARE

35

Cumulaive uptoDecember 31, 2009

Rated Accepted

Commercial Paper@/other

Short Term InstrumentsFixed Deposits/Certificates

of Deposits/CCPS

Debentures/Bonds

2310

363

1632

6647

2166

253

1293

5497Sub-Total

Credit Analysis Rating/Issuer Rating

Collective Investment SchemesClaims Paying AbilityConstruction EntitiesCorporate GovernanceGrading of Maritime InstituteSME RatingIPO GradingNSIC/SSIMicro Finance Grading Recovery RatingMutual Fund Rating

12012

134

526

601

4919

5

Total

Parallel Marketers

LPG-

SKO-

6979 5625

41

55

-

-

Total Ratings Assigned 7075

@ Including Rollovers

CAREVIEW, our rating bulletin is published every quarter featuring :

-

Ratings Under Basel-II frame work 2342 1785

2411-

--52

Page 36: Rating Reckoner CARE

(A ) L ong /M ed ium -te rm instrum en ts (N C D /F D /C D /SO /C P S/R P S)

CARE AAA

CARE AA

CARE A

CA RE BBB

CA RE BB

CA RE B

CA RE C

CA RE D

P R 1

P R 2

P R 3

P R 4

A s ins trum e nt cha racte r istic s o r de b t m an age m en t c ap ab ility c ou ld c ove r a w ide ran ge of poss ib le at trib u tes w he rea s ratin g is ex presse d on ly in lim ited num ber o f sy m bo ls,C A R E assigns ‘+ ’ o r ‘ -’ s igns to b e show n afte r the a ss ign ed ra ting (w h erev er ne cessary ) to in d ica te th e re la tive pos ition w ithin th e ba nd c ove red b y the ra ting sym bo l.

Sy m bo ls Sy m bo ls (B ) Short -te rm deb t ra ting defin itions

In s tru m en ts w ith th is ra t in g a re con s id e re d to o ffe r in ad eq ua te sa fe ty fo r t im e ly se rv ic in g o f d eb t o b lig a tio n s . S uc h ins trum en ts ca rry h ig h c red it r isk .

In s tru m en ts w ith th is ra t ing a re co ns id e red to b e o f th e b es t c re d it q u a li ty, o ffe rin g h ig he s t sa fe ty fo r t im e ly se rv ic in g o f d eb t ob lig a tio ns . S u ch in s tru m e n ts ca r ry m in im a l c red it r isk .

In s tru m en ts w ith th is ra t ing a re co n s ide red to o ffe r h ig h sa fe ty fo r t im e ly se rv ic in g o f d eb t o b lig a tio n s . S u ch in s tru m en ts ca r ry v e ry lo w c red it r isk .

In s tru m en ts w ith th is ra tin g a re co n s ide red to o ffe r a de qu a te sa fe ty fo r t im e ly se rv ic ing o f d eb t o b lig a tio n s . S u ch in s tru m en ts ca r ry low c red it r isk .

In s tru m en ts w i th th is ra t ing a re co ns id e red to o ffe r m o d era te sa fe ty fo r t im e ly se rv ic in g o f d e b t o b l ig a t io n s . S u c h in s t r u m e n ts c a r ry m od era te c re d it r isk .

In s tru m en ts w ith th is ra tin g a re c on s id e re d to o ffe r lo w sa fe ty fo r t im e ly se rv ic ing o f d eb t o b lig a tio n s an d ca rry ve ry h igh c red it r isk . S u ch In s tru m en ts a re susce p tib le to d e fa u lt.

In s tru m en ts w ith th is ra tin g a re co ns id e red to be h av ing ve ry h ig h l ik e l ih o od o f d e fau lt in the p ay m e n t o f in te res t and p r inc ipa l.

In s tru m en ts w ith th is ra t ing a re o f the lo w e st ca tego ry. T h ey a re e ithe r in d e fau lt o r a re l ik e ly to b e in d e fa u lt so on .

Instrum en ts w ith th is ra ting w ou ld have s trong capac ity fo r t im e ly paym en t o f sho rt-te rm deb t ob ligations and carry low est c red it r isk . W ith in th is ca tegory, instrum en ts w ith relative ly bette r c re d i t c h a r a c t e r i s t i c s a r e a s s i g n e d P R 1 + rating .

In s t ru m e n ts w ith th is ra t in g w o u ld h a v e ad equ a te capac ity fo r t im e ly pay m en t o f sho rt-te rm d eb t o b lig a tion s and ca r ry h ig he r c red it r isk as co m p ared to ins tru m en ts ra ted h ig he r.

Ins trum en ts w ith th is ra tin g w ou ld h ave m o de ra te capac ity fo r t im e ly repay m en t o f sho rt te rm d eb t ob liga tions a t the t im e o f ra ting an d ca rry h ighe r c red it r isk as com pared to in strum en ts ra ted h igh er.

P R 5

T h e ins trum en t is in de fau lt o r is l ik e ly to b e in d e fa u lt o n m a tu r ity.

In s t ru m en ts w ith th is ra tin g w o u ld h a v e inadequ ate capac ity fo r t im e ly pay m en t o f sho rt-te rm deb t ob liga tions and ca r ry ve ry h igh c red it r isk . S uc h Ins t ru m e n ts a re susc ep tib le to de fau lt.