Corporate announcements

Oudh Sugar Mills Ltd has informed the Exchange that Credit Analysis and Research Ltd. (CARE) has assigned PR1+ Rating to Short Term Debt Programme (including commercial paper) upto Rs.50 crores of the Company for a maturity period upto 365 days with daily put and call option.

Crompton Greaves Ltd has informed the Exchange that FITCH Ratings India Pvt Ltd (FITCH) has upgraded the Company's long term debt rating from A+(ind) to AA-(ind). The rating indicates very strong credit risk relative to other issuers or issues in the country. The credit risk inherent in the Company's financial commitments differs only slightly from the Country's rated issuers. FITCH has also affirmed the Company's Short-Tem Debt Instruments/Commercial Paper rating of F1+(ind) for Rs.100 crores. The rating indicates Highest Credit quality and strongest capacity for timely payment of financ

Bharat Electronics Ltd has informed the Exchange that ICRA Ltd. conducted the Surveillance of Rating for Rs. 100 crores short term debt programme (including commercial paper and inter-corporate deposits) of the Company and has assigned a rating of "A1+" (A one plus) indicating highest credit quality rating assigned by it to short-term debt instruments. The validity period of the rating assigned is from February 10, 2006 to February 09, 2007.

Jindal Poly Films Limited has informed the Exchange that CRISIL Limited has assigned to the company "P1 (P One) rating of Rs. 200 million Commercial Paper Programme of the company.

Jindal Poly Films Limited has informed the Exchange that the Fitch rating India Private Limited has assigned to the company "A+(Ind)" rating of Rs.500 million Non Convertible Debenture (NCD) Programme of the Company. The Company has received the copy of the letter in this regard from Fitch ratings India Limited. 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).

Adlabs Films Limited has informed the Exchange that ICRA Limited has assigned the A+ (pronounced A one plus) rating to the Company's Commercial Paper Programme of upto Rs.250 crore.

Transport Corporation Of India Limited has informed the Exchange that ICRA Limited has assigned "A1+" rating on the Company's Rs.45 Crore Commercial Paper (CP) programme.

Jindal Stainless Limited has informed the Exchange that Credit Analysis & Research Ltd. (CARE) has assigned a 'CARE AA' rating to the proposed Non Convertible Debenture issue of Rs.50 Crore.

Dewan Housing Finance Corporation Ltd had informed the Exchange that Credit Analysis & Research Ltd. (CARE) has assigned a CARE AA+ (Double A plus) rating to the proposed Subordinate Debt. - Tier II Issue for an enhanced amount of Rs.90 Crore (enhanced from Rs. 50 Crore rated earlier) having maturity upto 10 years. The Company has now informed the Exchange that Credit Analysis & Research Ltd. (CARE) has assigned CARE AA (Double A) rating to the proposed Subordinato Debenture - Tier II Issue for an enhanced amount of Rs. 90 Crore having maturity of 10 years. Inadvertently, the Company had repor

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 Subordinate Debt. - Tier II Issue for an enhanced amount of Rs90 Crore (enhanced from Rs. 50 Crore rated earlier) having maturity upto 10 years.

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 Subordinate Debt. - Tier II Issue of Rs. 50 Crore having maturity of 5 to 7 years.

Jindal Stainless Limited has informed the Exchange that Credit Analysis & Research Ltd. (CARE) has assigned a 'CARE AA' rating to the Non Convertible Debenture issue of Rs.100 Crore.

Polyplex Corporation Ltd. has informed the Exchange that the Credit Analysis & Research Ltd. (CARE) has retained 'CARE AA [ Double A]' rating for the Non-Convertible Debenture (NCD) programme aggregating to Rs. 52 Crores. Instruments carrying this rating are judged to be of high quality by all standards. They are also classified as high investment grade. Further, CARE has retained 'PR1+' [PR One Plus] for the Commercial Paper (CP) programme of Rs. 15 Crores. This rating indicates superior capacity for repayment of short-term promissory obligations.

Aban Loyd Chiles Offshore Ltd. has informed the Exchange that Fitch Rating India Private Limited (FITCH RATINGS) has assigned a rating of A+ (ind) [ A Plus (ind) ]for the proposed Rs. 1650 Million Long Term Debenture Programme (Optionally convertible into cumulative redeemable preference shares) of the Company.

Praj Industries Ltd has informed the Exchange that ICRA Limited, Pune has assigned "A1+" rating for Short Term Debt (including Commercial Paper) Programme of Rs. 12 crore of the Company indicating highest credit quality.

Bajaj Hindusthan Ltd has informed the Exchange that Fitch Ratings India Private Limited has upgraded the rating/assigned new rating to the following long term / short term debt programme of the Company:- (1)For long Term Debt Programme (a)Fitch Ratings has upgraded the rating of the Rs.2000 mn Secured Redeemable Non Convertible Debentures programme of Bajaj Hindustan Limited from A+ (ind) (Single A Plus ind) rating with "Positive" out look to "AA-(ind)" (Double A minus ind) rating with 'Stable' out look; and (b) Fitch Ratings has assigned AA- (ind) (Double A minus ind) rating to the additional

Bombay Dyeing & Mfg Co. Ltd has informed the Exchange that ICRA had assigned A1+ Rating for the short term debt programme of the Company for Rs.100 crores. In this regard the Company has repaid all the borrowing under the rating taken from ICRA, pursuant to that Company has written to ICRA to withdraw the rating assignment.

Alok Industries Limited has informed the Exchange that Fitch Ratings India Private Limited have vide their letter dated October 25, 2005, affirmed the rating of A(ind) [Single A (ind)] for the Company's proposed Rs.1250 mn Secured Redeemable Non Convertible Debentures programme.

Eimco Elecon (India) Ltd. has informed the Exchange that CRISIL vide its review letter dtd. October 10, 2005 and Rating Rationale has retained same rating as under for company's CP & NCD programme: (1) Rs. 50 million Non-Convertible Debenture AA-/ Stable (Stable status). (2) Rs. 170 million Commercial Paper P1+ (Very Strong).

Munjal Auto Industries Limited has informed the Exchange that ICRA Limited has assigned "A1+" (pronounced as A one plus) rating for Rs.10 Crore Short Term Debt including Commercial Paper Programme of the Company. This rating indicates highest safety, which means the prospect of timely payment of debt / obligation by the Company is the best.

Carborundum Universal Ltd has informed the Exchange that CRISIL has upgraded the rating for the Company's Rs. 12.73 crore Non-Convertible Debentures Issue to "AA+/ Stable" from "AA / Positive". The revised rating indicates high degree of safety with regard to timely payment of interest and principal on the instrument. Further, CRISIL has also reaffirmed the "P1+" rating for the Company's Rs. 60 crore Short Term Debt programme. This rating indicates that the degree of safety with regard to timely payment of interest and principal on the instrument is very strong.

Alok Industries Limited has informed the Exchange that Credit Analysis & Research Limited have vide their letter dated October 03, 2005 assigned a 'PR 1' [PR One] rating for the Company's proposed issue of short term Non-Convertible Debentures of Rs.20.00 crore. The said rating is also valid for a period of one year from the date of their captioned letter.

Alok Industries Limited has informed the Exchange that Fitch Ratings India Private Limited have vide their letter dated September 21, 2005, affirmed "F1(ind)" (F one ind) rating for the Company's Rs.800 million commercial paper programme. This rating is valid up to a maximum period of 12 months from the date of their captioned letter.

Srei Infrastructure Finance Limited has informed the Exchange that Credit Analysis & Research Limited (CARE) has reviewed and upgraded the ratings of the following instruments of SREI Infrastructure Finance Limited as per details mentioned below: (1) Fixed Deposit Programme for a limit of Rs.25 crore - Previous rating - "CARE AA- (FD)" [Double A minus (Fixed Deposit)]; Upgraded rating - "CARE AA (FD)" [Double A (Fixed Deposit)]. (2) Mezzanine Capital Issue of Rs.52.66 crore - Previous rating - "CARE A+" [A plus]; Upgraded rating - "CARE AA-" [Double A minus].

Indiabulls Financial Services Limited has informed the Exchange that the Rating Committee of CRISIL has assigned the highest rating of "P1+" (pronounced 'P one plus') to Rs.300 crore Short Term Debt Programme of the Company (enhanced from Rs.150 crore).

Bharti Tele-Ventures Ltd. has informed the Exchange that ICRA Limited has assigned the Issuer Rating of IRAAA to Bharti Tele-Ventures Limited, New Delhi. This rating is the highest credit quality rating assigned by ICRA and implies that the company carries the lowest credit risk.

Phillips Carbon Black Ltd. has informed the Exchange that CRISIL has re-affirmed "AAA(so)" rating for the Company's 250 million Non Convertible Debentures allotted on December 31, 2002.

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 enhanced Secured Non-Convertible Debentures (NCD) issue size of Rs.175.00 crore (from Rs.100 crore rated earlier), having tenure of 3 to 7 years with / without a "Put" / "Call" option after a period of 3 years.

Dewan Housing Finance Corporation Ltd has informed the Exchange that CRISIL has assigned a 'P1+' (Pronounced 'P one plus') rating for the Rs.200.00 crore Short Term Debt Programme of the Company (enhanced from Rs.100 crore rated earlier.)

Cadila Healthcare Limited has informed the Exchange that CRISIL has reaffirmed the Company's Credit Ratings as under, following Rs.400 mn investment announcement in the equity of a European biotech company : 1) Rs.600 Mio NCDs Programme - AA+/Stable(Reaffirmed); 2) Rs.700 Mio NCDs Programme - AA+/Stable(Reaffirmed); and 3) Rs.600 Mio Commercial Paper Programme - P1+(Reaffirmed). Further, the Company has submitted a copy of the press release issued by CRISIL in this regard. The details of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Lates

Micro Inks Limited has informed the Exchange that the Credit Analysis & Research Ltd. (CARE) has upgraded the rating to 'CARE AA+' [Double A Plus] to the proposed Secured Non-Convertible Debenture (NCD) Issue of Rs.500 million and 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.500 million for a maturity upto one year vide their letters dated August 26, 2005.

Arvind Mills Ltd has informed the Exchange that Fitch Ratings India Pvt. Ltd. has assigned an "F1 (ind)" [F one (ind)] rating to the Rs.250 million Commercial Paper Programme of the Company vide its letter dated August 25, 2005.

Usha Martin Limited has informed the Exchange that the Credit Analysis & Research Ltd (CARE) have upgraded the rating of the Company for the Short Term Debt for upto Rs. 100 Crores from the existing P R1 (P R ONE) to P R 1 + (P R ONE plus).

Indian Petrochemicals Corpn. Ltd. has informed the Exchange that the financial profile of the Company has been reviewed by CRISIL and ratings have been upgraded/re-affirmed as given below: 1) Rs.12 Billion Non Convertible Debenture Issue - AAA/Stable (Upgraded from AA/Stable) 2) Rs.2.03 Billion Non Convertible Debenture Issue - AAA/Stable (Upgraded from AA/Stable) 3) Rs.6 Billion Short Term Debt Programme - P1+ (Reaffirmed) A copy of the press release issued by CRISIL regarding the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and

Alok Industries Limited has informed the Exchange that Fitch Ratings India Private Limited have vide their letter dated August 02, 2005, assigned a "F1(ind)" (F one ind) rating for the Company's Rs.400 million commercial paper programme. The aggregate amount for which F1 (ind) rating assigned stands enhanced from Rs.400 million to Rs.800 million. This rating is valid up to a maximum period of 12 months from the date of their captioned letter.

Sundaram Finance Ltd. has informed the Exchange that ICRA has re-affirmed the 'MAAA' rating (lowest credit risk) for the fixed deposit programme of the Company. The outstanding medium term Non-Convertible Debentures (NCDs) have also been re-affirmed at 'MAAA'. The Company's short-term rating is re-affirmed at 'A1+', indicating highest credit quality. As per ICRA's new policy, fresh NCDs with tenures greater than 1 year will be rated on the long-term scale. In line with this, ICRA has assigned an 'LAA+' rating (high credit quality) to the Rs. 3 billion fresh NCD programme of the Company.

Dewan Housing Finance Corporation Ltd has informed the Exchange that Credit Analysis & Research Ltd. (CARE) has upgraded the existing rating from 'CARE AA' (Double A) to 'CARE AA+' (Double A plus) for the Company's Fixed Deposit Programme of Rs.200 crore.

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 Secured Non-Convertible Debentures (NCD) of Rs.100 crore having a tenure of 3 to 7 years.

Kalpataru Power Transmission Ltd has informed the Exchange that Credit Analysis & Research Ltd. (CARE) has rated the company's proposed long term NCD/ Bond of Rs.25 Crores as 'AA' for general business purpose. This rating is judged to be of high quality of all standards. This is also classified as high investment grade.

Mercator Lines Limited has informed the Exchange that Credit Analysis & Research Ltd., (CARE) have reaffirmed "CARE AA" (Double A) rating to all the existing Secured Redeemable Non-convertible Debentures (NCDs) and Preference shares issued by the Company as well as granted "CARE AA" rating to its proposed issue of further NCDs. CARE has also granted PR1+ (PR One Plus) rating to the proposed issue of short term NCDs for a maturity not exceeding one year.

Indiabulls Financial Services Limited has informed the Exchange that the Rating Committee of CRISIL has assigned the highest rating of "P1+" (pronounced 'P one plus') to Rs. 150 crore Short Term Debt Programme of the company. Futher the company has also informed that previously CRISIL had assigned the same rating [i.e. "P1+" (pronounced as 'P one plus')] to Rs. 100 crore Short Term Debt Programme of the company.

Aban Loyd Chiles Offshore Ltd. has informed the Exchange that Credit Analysis & Research Ltd. (CARE) has assigned a rating of CARE A(RPS) for the proposed Rs.150 Crores Redeemable Preference Shares of the company.

Alok Industries Limited has informed the Exchange that Fitch Ratings India Private Limited have vide letter dated May 31, 2005 affirmed the "F1(ind)" (F one ind) rating for the Company's Rs.400 million commercial paper programme. This rating is valid up to a maximum period of 12 months from the date of their captioned letter.

Bombay Dyeing & Mfg Co. Ltd has informed the Exchange that ICRA Limited vide its letter dated May 05, 2005 has reaffirmed the "A1+" (pronounced as A one plus) rating assigned to the Short Term Debts (including Commercial Paper) programme of Rs.100 crs. of the company.

Aban Loyd Chiles Offshore Ltd. has informed the Exchange that Fitch Rating India Private Limited (FITCH) has assigned a rating of F1+(ind) [F one plus (ind)] for the proposed Rs.250 Million Commercial Paper / Short term Debt programme of the Company.

Andhra Bank has informed the Exchange that M/s. ICRA Limited, vide their letter no. Andhra Bank/ICRA/2005-06/1504 dated April 21, 2005, has assigned a "CGR2" (pronounced as CGR 2) rating to the Corporate Governance practices of the Bank. This rating implies that in ICRA's current opinion, the rated company has adopted and follows such practices, conventions and codes as would provide its financial stakeholders a high level of assurance on the quality of corporate governance.

Transport Corporation Of India Limited has informed the Exchange that ICRA Limited has assigned "A1+"(pronounced as A one plus) rating on the company's proposed programme for Commercial paper for Rs. 35 crore.

Omax Autos Limited has informed the Exchange that the Company has been issued "A1+" Credit Rating for its Commercial Paper Programme upto Rs. 50 Crores by ICRA Limited.

Godrej Consumer Products Limited has informed the Exchange that, after surveillance, ICRA has reaffirmed the Corporate Governance Rating & Shareholders Value Creation and Governance Rating as under: 1) Rating for Corporate Governance: ICRA has reaffirmed the CGR2+ (pronounced as CGR 2 plus) rating to Corporate Governance Practices of the Company. This is on a rating scale of CGR1 to CGR6 where CGR1 denotes the highest rating. The + sign indicates a relatively higher standing within the category indicated by the rating. The CGR2+ rating implies that in ICRA's current opinion, the rated Company

Indiabulls Financial Services Limited has informed the Exchange that the Rating Committee of CRISIL has assigned the highest rating of "P1+" (pronounced 'P one plus') to Rs. 100 crore Short Term Debt Programme of the company.