Corporate announcements

Shopper�S Stop Limited has informed the Exchange that "Crisil Limited has downgraded the rating of Rs.500 million Short Term Debt programme to "P1" from "P1+". The revised rating indicates that the degree of safety with regard to timely payment of interest and principal on the instrument is very strong. Further, Crisil Limited has downgraded the rating of Rs.500 million Non Convertible Debenture Programme to "A/Negative" from "A+/Stable". The revised rating indicates adequate degree of safety with regard to timely payment of interest and principal on the instrument".

Omaxe Limited has informed the Exchange that the revised Credit Rating on the Company's Outstanding Non Convertible Debentures (NCD) of Rs.25 Crores is "PR4" (PR four).

Future Capital Holdings Limited has informed the Exchange that "ICRA Limited ("ICRA") has assigned the "A1" (pronounced "A one") Rating in respect of the short term debt programme of Rs. 300 crores of the Company. This indicates the highest- credit-quality Rating assigned by ICRA to short term debt instruments. The instruments rated in the category carry the lowest credit risk in the short term".

Bank Of India has informed the Exchange that the Brickwork Rating India Pvt.Ltd, vide their letter dated January 02, 2009 has assigned a BWR AAA+ (Triple A Plus) to our bank, which stands for issuers to offer the BEST creditworthiness.

Dewan Housing Finance Corporation Ltd has informed the Exchange that "Credit Analysis & Research Ltd. (CARE) has assigned a 'CARE AA+' (Double A Plus) rating to the proposed issue of Non Convertible Debentures of Rs. 500 Crore having maturity upto 10 years".

Indiabulls Securities Limited has informed the Exchange that CRISIL has assigned its highest broker grading "CRISIL BQ - 1" to the Company. This Grading is an opinion on the quality of operations and service provided by the graded broker. The Grading is expressed on a five point scale from BQ-1 to BQ- 5, with BQ-1 being the highest."

Indiabulls Financial Services Limited has informed the Exchange that CRISIL has assigned the rating of "AA-/Stable" to the Rs. 30.3988 Billion bank facilities of the Company. This being the first bank facilities rating assigned to the Company by CRISIL. These bank loan ratings are as below : 1) Facility : Long Term Loan; Rated Amount Rs. in Billion : 21.3988; Rating : "AA-/ Stable". 2) Facility : Cash Credit; Rated Amount Rs. in Billion : 9.00; Rating : "AA-/ Stable". Total : Rated Amount Rs. in Billion : 30.3988. CRISIL has also reaffirmed its rating of "AA-/ Stable" to the Company's Non-Conv

Carborundum Universal Ltd has informed the Exchange that CRISIL has assigned the ratings for the banking facilities and Non-Convertible Debenture Programme of the Company. The details of the same shall be available on the NSE website (http://www.nseindia.com) under Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/Carborundum_Credit_01122008.zip target=NEW> For more details click here.</a>

Indiabulls Securities Limited has informed the Exchange that "CRISIL has assigned its highest rating of "P1+" (pronounced 'P one plus') to the Rs.10 Billion Short-Term Debt Programme, of the Company. CRISIL has also assigned its highest rating of "P1+" to the Rs.5.85 Billion short term bank facility of the Company."

Indiabulls Financial Services Limited has informed the Exchange that CRISIL has assigned the rating of "AA-/Stable" to the Rs. 10 Billion Non-Convertible Debentures Programme of the Company. This being the first long term debt rating assigned to the Company by CRISIL. Further the Company has informed that CRISIL has reaffirmed its highest rating of "P1+" (pronounced 'P one plus') to the Rs. 40 Billion Short-Term Debt Programme, of the Company.

Allahabad Bank has informed the Exchange that: "CRISIL vide their letter dated 21-Nov-2008 has reaffirmed "AA/stable" (pronounced "Double A" with stable outlook) ratings for our existing Tier II Bonds having series V, VI & VII aggregating to Rs. 1561.90 crores and for our proposed Perpetual Bond of Rs. 300.00 crores. Further CRISIL also reaffirmed "P1+" (Pronounced P one plus ) rating for our existing 1000.00 crore Certificate of Deposit. Credit Analysis & Research Ltd. (CARE ) has also retained "CARE AA+" ( Double A plus ) ratings for our existing Tier II Bonds having series IV, V, VI, & VII

Core Projects And Technologies Limited has informed the Exchange that ICRA Limited, has granted the following credit rating for the Company's borrowings: (1) Nature of Credit : Short Term Fund Based / Non-Fund Based Bank Limits; Rating by ICRA - "A1"; Indicators - Highest Credit Quality for the Short Term, (2) Nature of Credit - Commercial Paper Programme; Rating by ICRA - "A1"; Indicators - Highest Credit Quality for Short Term Debt Instrument, (3) Nature of Credit - Long Term Bank Limits; Rating by ICRA - "LA"; Indicators - Adequate Credit Quality.

Cholamandalam Dbs Finance Limited has informed the Exchange that "The Credit Rating Information Services of India Limited(CRISIL), vide its rating release dated 13th November, 2008, has informed that it has revised the rating for the Rs. 7.5 billion short term debt programme of our Company from P1+ to P1. As per their letter, the revised rating indicates very strong degree of safety with regard to timely payment of interest and principal. The current rating is supported by the benefits that the Company derives from its close association with its promoters, the Murugappa group and DBS Bank, Sin

Hindustan Oil Exploration Co. Ltd has informed the Exchange that: "ICRA has vide its letter no. RTG/Chen/I39/08-09 dated November 7, 2008 received by the Company on November 12, 2008, assigned a rating of LA+ to the USD 100 million term loan facility availed / to be availed by the Company for PY-1 field development. LA+ is the adequate-credit quality rating assigned by ICRA and the rated instrument carries average credit risk".

Hitech Plast Limited has submitted to the Exchange a copy of the rating received from CRISIL Limited dated September 30, 2008. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/HITECHPLAS_CR_11112008.zip target=NEW> For more details click here.</a>

Grasim Industries Ltd. has informed the Exchange that "CRISIL has assigned following ratings to the Company for its various programmes: (1) Rs. 20 Billion Non convertible Debentures: AAA/ Stable. (2) Rs.40 Billion Long Term Bank Loan Facility: AAA/ Stable. (3) Rs.6 Billion Short Term Debt Programmes : P1+. The Company already has rating from CARE for the above instruments who has assigned "CARE AAA" for Non convertible Debentures and Long Term Bank Loan Facility and "PR1+" for Short Term Debt Programmes. The Company now enjoys dual rating for its aforesaid instruments".

Micro Inks Limited has informed the Exchange that the Credit Analysis & Research Ltd (CARE) : 1) has retained 'CARE AA' (Double A) rating assigned to the long-term bank loans/ facilities (having tenure of over one year) and 'PR1+' (PR one plus) rating assigned to the short term bank loans/ facilities (having tenure upto one year) for an amount aggregating to Rs. 895.89 crore vide its letter dated October 31, 2008. 2) has retained PR1+ (PR One Plus) rating assigned to the Company's Short Term Debt (STD) Programme (including Commercial Paper (CP)) for an amount upto Rs. 50 crore for a maturity u

Easun Reyrolle Ltd has informed the Exchange that "ICRA has assigned an A1 rating to Rs.0.31 billion non-fund based limits and Rs.1.38 billion bank guarantee of Easun Reyrolle (ERL) indicating the highest-credit-quality in the short term. Instruments rated in this category carry the lowest credit risk in the short term. ICRA has also assigned an LA-rating to Rs.0.5 billion cash credit facilities and Rs.1.38 billion Bank guarantee facilities of ERL. The rating indicates adequate-credit-quality and the rated instrument carries average credit risk. The bank guarantees are rated on both the scales

South Asian Petrochem Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on October 25, 2008 noted that the Company has been assigned Credit rating of CARE A (Is) [Single A (Issuer Rating)] by Credit Analysis & Research Ltd. At the same time CARE has assigned the short term debt rating of PR1+(P R One plus) for the Short Term Debt (STD) programme of the Company for an amount up to Rs. 25 Crore for a maturity up to six months.

Mahindra & Mahindra Ltd. has informed the Exchange that "CRISIL has reaffirmed its 'CRISIL GVC Level 1' rating on Mahindra & Mahindra Limited (M&M). The rating indicates that M&M's capability with regard to corporate governance and value creation for all its stakeholders is the 'highest'. M&M has received the GVC Level 1 rating for the third year in a row. This has been possible through a sustained effort and a commitment to the highest standards of corporate conduct".

Omaxe Limited has informed the Exchange that "Fitch India has revised the Long-term Issuer Rating and INR3000m Long Term debt program of the Company to'A-(ind)' (A minus(ind)) negative, from 'A(ind)' stable".

Corporation Bank has informed the Exchange that CRISIL has assessed and reaffirmed the financial instruments of the Bank. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/CORPBANK_Ratings_10102008.zip target=NEW> For more details click here.</a>

Ponni Sugars (Erode) Limited has informed the Exchange that ICRA Limited has assigned the following Credit Ratings for the Term Loan facilities availed by the Company from its Bankers: (1) Nature of facility: Short Term Loan facilities of Rs.9 crores (and Additional Short Term Loan within Rs.25.50 crores sanctioned Bank Limits for Fund based facilites); Credit rating assigned: "A2" (A Two); Rating details: Above average credit quality rating assigned by ICRA to short-term debt instruments carrying higher credit risk than instruments rated A1. (2) Sactioned Bank Limit for: a) Term Loan facilit

Sanwaria Agro Oils Limited has informed the Exchange that: "Our Company has been assigned 'PR2' (PR Two) rating to short term facilities and 'CARE BBB' (Triple B) rating to long-term facility by Credit Analysis & Research Limited".

Xpro India Limited has informed the Exchange that as a routine course of business, Fitch Ratings have assigned a National Long Term Issuer rating of 'BBB-(Ind)' (BBB minus (ind) ) to the Company. The Outlook is stable. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/XproInd_CreditRating_03102008.zip target=NEW> For more details click here.</a>

Future Capital Holdings Limited has informed the Exchange that "The "P1" (pronounced "P one") rating assigned by CRISIL Limited in respect of the Short Term Debt programme of the Company, has been enhanced from Rs.150 crore to Rs. 250 crore. The rating indicates that the degree of safety with regard to timely payment of interest and principal on the instrument is very strong".

Future Capital Holdings Limited has informed the Exchange that CRISIL Limited has assigned a "P1" (pronounced "P one") rating in respect of the short term debt programme of the Company. This indicates that the degree of safety with regard to timely payment of interest and principal on the instrument is very strong.

Mirc Electronics Ltd. has informed the Exchange that "Credit Rating and Information Services of India Limited (CRISIL) has assigned "P1" rating to Letter of Credit and Bank Gaurantee Facilities, and "A" rating to Cash Credit and Unsecured Loans Facility of the Company on September 08, 2008".

Indraprastha Gas Limited has informed the Exchange that ICRA Limited has assigned the rating of "LAAA" (pronounced L triple A) for Rs. 100 crores proposed fund based limits and rating of "A1+" (pronounced A one plus) for Rs. 100 crores short term non-fund based limits to the Company.

Rane Engine Valve Limited has informed the Exchange that ICRA Limited, an associate of Moody's Investors Service, has based on the review of the performance for the financial year 2007-2008 and future plans of the company granted the following ratings: (1) "A1+" (pronounced as A One Plus)- for our Short Commercial Paper Programme of Rs. 5 Crores; (2) "LA+" (pronounced as L A Plus) for long term borrowing of Rs.33 Crores; (3) "A1+" (pronounced as A One Plus) for Short term working capital fund based facilities of Rs. 12 Crores and non-fund based facilities of Rs. 19.2 Crores; (4) "MA+" rating f

Rane Holdings Limited has informed the Exchange that: " ICRA Limited, an associate of Moody's Investors Service has assigned, (a) "A1+" (pronounced as A One Plus) - Highest Credit quality rating for our Short Term Debt / Commercial Paper Programme of Rs.10 Crores (b) "LAA-" (pronounced as L double A minus) - High Credit quality rating for Rs.35 Crores Term Loan facilities; and (c) "LAA-" (pronounced as L double A minus) - High Credit Quality rating for Rs.10 Crores Term Loans based facilities and Rs.5 Crores fund based facilities."

Omaxe Limited has informed the Exchange that: "Credit rating for the Short Tem Debt programme of Rs. 200 Crores of the Company has been rated as PR2 + (PR two plus) by Credit Analysis & Research Limited".

United Spirits Limited has informed the Exchange that: "ICRA Limited (ICRA) has assigned "LA-" (pronounced LA minus) rating on the long term scale to the Long Term Debt program of our Company (BASEL II). ICRA has also assigned "A1" (pronounced A One) on the short term scale to the Short Term Debt program of our Company".

Mirza International Limited has informed the Exchange that "The ICRA LTD., Credit Rating Agency has by its letter dt. July 30, 2008 revised & downgraded the rating assigned to Rs. 2200 Million Fund Based Bank Limits of the Company from LA-(pronounced L A minus) to LBBB+ (pronounced L triple B plus) indicating moderate credit quality and higher than average credit risk as indicated by the former credit rating LA- assigned to the company".

United Breweries Limited has informed the Exchange that ICRA Limited (ICRA) has assigned LBBB+ (pronounced LBBB plus) rating on the long term scale to the Long Term Debt program of the Company. ICRA has also assigned A2+ (pronounced A two plus) on the short term scale to the Short Term Debt program of the Company.

Alok Industries Limited has informed the Exchange that "Credit Analysis & Research Limited have vide their letter dated 22nd July 2008 reaffirmed the �PR1� (PR One) rating for the Company's Commercial Paper program / MIBOR linked Short Term Non-Convertible Debentures / other short term instruments for an amount of Rs.750 crore (size enhanced from Rs.500 crore) for a maturity upto 1 year. The said rating is valid for a period of one year from the date of their letter".

Novopan Industries Limited has informed the Exchange that: "The Credit Rating Information Services of India Limited (CRISIL) had assigned the following Credit Ratings for the Company's bank facilities: (1) Bank Facility-Long Term Facility. Credit Rating-BBB+/Stable. (2) Bank Facility- Short Term Facility. Credit Rating-P2".

Indiabulls Financial Services Limited has informed the Exchange that: "CRISIL has assigned the highest rating of "P1+" (pronounced 'P one plus') to the Rs.4000 crore short term debt programme of the Company (enhanced from Rs.2000 crores). CRISIL is India's leading Ratings, Research, Risk and Policy Advisory company and is a majority owned subsidiary of Standard and Poor's, the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research and data".

Munjal Showa Ltd has informed the Exchange that the Company has been assigned the Bank Loan ratings to company's existing and proposed bank facilities by CRISIL Limited. The details of the ratings assigned shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/munjalshowa_UP_07072008.zip target=NEW> For more details click here.</a>

Rama Newsprint And Papers Limited has informed the Exchange that: "M/s. ICRA India Ltd. has assigned following Credit Ratings to the debts of the Company:- (1) Long term fund based facilities limits: Rating: LBBB+. (2) Short term fund based facilities: Rating: A2.(3) Short term non-fund based facilities: Rating: A2".

Jaiprakash Associates Limited has informed the Exchange that: "Credit Analysis & Research Limited (CARE) has assigned 'CARE A+" [CARE Single A (Plus)] rating to the proposed secured long term NCDs of Rs.500 Crores of Jaiprakash Associates Limited. Instruments with this rating are considered to offer adequate safety for timely servicing of debt obligations. Such instruments carry low credit risk".

Kanoria Chemicals & Industries Ltd has informed the Exchange that: CRISIL has reaffirmed 'CRISIL GVC Level 3' rating on the Company's Corporate Governance and Value Creation Practices. The rating indicates that the Company's capability with regard to corporate governance and value creation for all its stakeholders is high.

Crest Animation Studios Limited has informed the Exchange that "The Company has been assigned the credit Ratings by CRISIL vide its letter dated June 2, 2008. The Bank Loan Rating are as follows: (1) Facility: Cash Credit; Name of Bank: State Bank of India; Rated Amount (Rs. in Million): 150.00; Rating: BBB-/Stable (2) Facility: Bank Guarantee; Name of Bank: State Bank of India; Rated Amount (Rs. in Million): 13.70; Rating: P3".

Technocraft Industries (India) Limited has informed the Exchange that:- "CRISIL has assigned its ratings of 'A+/Stable/P1+' to the Various bank facilities of Technocraft Industries (India) Ltd (Technocraft). The ratings reflect Technocraft's strong market position in the international drum closure and scaffolding market. The company's business risk profile is supported by long standing relationship with major drum makers for the Chemical and lubrication oil industry. The ratings also derive comfort from the favorable financial profile marked by low debt, strong accruals and healthy debt protec

Blb Limited has informed the Exchange that: "We have received CRISIL rating through letter dated 30th May, 2008, wherein they have assigned a "P2+" (Pronounced "P two plus") rating to our Rs.200 Million Short Term Debt programme to indicate that the degree of safety with regard to timely payment of interest and principal on the instrument is strong".

Aditya Birla Nuvo Limited has informed the Exchange that "ICRA Limited has assigned "A1+" rating for the Commercial Paper Programme cum Short term debt of Rs.1000 crore (being enhanced from Rs 300 crore)".

Amara Raja Batteries Ltd has submitted to the Exchange a copy the CRISIL rating for the bank facilities of Amara Raja Batteries Ltd. A copy of the same shall be available on the NSE website (http://www.nseindia.com) under Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).<a href=/content/corporate/Amararaja_Creditrating_30052008.zip target=NEW> For more details click here.</a>

Aditya Birla Nuvo Limited has informed the Exchange that: "We propose to raise funds by issuance of Secured Non-convertible debentures (NCDs) aggregating to Rs.500 Crore. The said NCDs will be repayable within a period not exceeding three years. As per SEBI (DIP) Guidelines, 2000 the issuer company is required to obtain credit rating from at least one credit rating agency registered with the SEBI. We are pleased to inform you that Credit Analysis & Research Ltd. (CARE) assigned a 'CARE AAA' (Triple A) rating to the proposed NCD issue".

Aban Offshore Ltd. has informed the Exchange that "Credit Analysis & Research Ltd. (CARE) has revised the ratings for the Cumulative Non-Convertible Redeemable Preference Shares (CRPS) issued by the Company. The revised ratings stand at CARE A-(RPS) (Single A minus Redeemable Preference Share) for all the CRPS Issues."

Gitanjali Gems Limited has informed the Exchange that : "The Credit Analysis & Research Ltd (CARE) has assigned 'CARE A -' (single A Minus) rating to one of our subsidiaries namely, Gitanjali Exports Corporation Limited (GECL). This rating is applicable for facilities having tenure of more than one year. Instruments with this rating are considered to offer adequate safety for timely servicing of debt obligations and carry low credit risk. Further, CARE has assigned 'PR2+' (PR Two Plus) to GECL. This rating is applicable for facilities having tenure up to one year. Instruments with this rating