Movement of each credit rating

6.2.2.1 Movement of each credit rating
Note :Pursuant to SEBI Circular No Circular CIR/MIRSD/4/2011 dated June 15, 2011, ICRA has adopted new rating symbols. Some of the ratings
which were assigned prior to aforesaid SEBI Circular, on old rating scale, have also been mapped to new rating symbols.
(A)
Structured Instruments – April 2011 – September 2011
Rating movements between Apr 2011-Sep 2011 - Downgrades
Sl. No. Name of the issuer
Instrument
Rating prior to Revision Rating Post revision
1 CIFCL Personal Loan Pool D.A. Oct-07
Assignee Payout
LC(SO)
[ICRA]D(SO)
2 ICICI Bank Ltd. Auto Loan Pool D.A. Jun-06 I
Assignee Payout
LC(SO)
[ICRA]D(SO)
3 ICICI Bank Ltd. Auto Loan Pool D.A. Jun-06 II
Assignee Payout
LC(SO)
[ICRA]D(SO)
4 India Loan Securitisation Series 6 Trust 2008
PTC Series A
LC(SO)
[ICRA]D(SO)
5 Reliance Infratel Limited
Bank Facilities
LAA+(SO)@
[ICRA]AA(SO)@
6 TNEB Limited (Erstwhile Tamil Nadu Electricity Board) bonds
[ICRA]A(SO)
[ICRA]A-(SO)
7 TNEB Limited (Erstwhile Tamil Nadu Electricity Board) bonds
[ICRA]A(SO)!
[ICRA]A-(SO)!
Sl. No.
Name of the issuer
Rating movements between Apr 2011-Sep 2011 - Upgrades
Rating prior to
Instrument
Revision
Rating Post
revision
1 Cheslind Textiles Ltd
Term Loan
LBBB-(SO)
[ICRA]BBB(SO)
2 ETA Pioneer IFMR Capital 2010
PTC Series A1
LA+(SO)
[ICRA]AA-(SO)!
3 ETA Pioneer IFMR Capital 2010
PTC Series A2
LBBB-(SO)
[ICRA]BBB+(SO)!
4 ILSS 1 Trust 2011
Second Loss Facility
LBBB(SO)!
[ICRA]A-(SO)!
5 ILSS 3 Trust 2011
Second Loss Facility
LBBB(SO)!
[ICRA]A-(SO)!
6 ILSS 4 Trust 2011
Second Loss Facility
LBBB(SO)
[ICRA]A-(SO)!
7 ILSS 5 Trust 2011
Second Loss Facility
LBBB+(SO)
[ICRA]A(SO)
8 ILSS 6 Trust 2010
Second Loss Facility
LBBB+(SO)
[ICRA]A(SO)
9 India Microfinance Loan Receivables Trust January 2011
PTC Series A1
A1(SO)
[ICRA]A1+(SO)
10 Indian Retail ABS Trust Series 91
Second Loss Facility
LA(SO)
[ICRA]AA(SO)
11 Lambda Pioneer IFMR Capital 2011
PTC Series A1
LA+(SO)!
[ICRA]AA-(SO)!
12 Lambda Pioneer IFMR Capital 2011
PTC Series A2
LBBB+(SO)!
[ICRA]A-(SO)!
13 Mundra International Container Terminal Private Limited
Term Loan
LA-(SO)
[ICRA]A(SO)
14 Psi Pioneer IFMR Capital 2011
PTC Series A1
[ICRA]A2+(SO)!
[ICRA]A1(SO)!
15 Psi Pioneer IFMR Capital 2011
PTC Series A2
[ICRA]A3+(SO)!
[ICRA]A2(SO)!
16 RCL CV Car and CE Loan Pool D.A. Nov-09
Second Loss Facility
LBBB+(SO)
[ICRA]A(SO)
Sl. No.
Name of the issuer
Rating movements between Apr 2011-Sep 2011 - Upgrades
Rating prior to
Instrument
Revision
Rating Post
revision
17 RHO Pioneer IFMR Capital 2011
PTC Series A2
[ICRA]A4+(SO)!
[ICRA]A2+(SO)!
18 Sigma 1 Pioneer IFMR Capital 2011 Series A1
PTC Series A1
A2+(SO)!
[ICRA]A1(SO)!
19 Sigma 1 Pioneer IFMR Capital 2011 Series A2
PTC Series A2
A3+(SO)!
[ICRA]A2(SO)!
20 Sigma 2 Pioneer IFMR Capital 2011
Junior Assignee Payouts
A3+(SO)!
[ICRA]A2+(SO)!
21 Sigma 2 Pioneer IFMR Capital 2011
Senior Assignee Payouts
A2+(SO)!
[ICRA]A1(SO)!
22 Tata Motors Ltd. CV & Auto Pool D.A. Dec-08
Second Loss Piece
LAA-(SO)!
[ICRA]AAA(SO)!
23 Tata Motors Ltd. CV & Auto Pool D.A. Dec-08 II
Second Loss Piece
LA+(SO)!
[ICRA]AA(SO)!
24 Tata Motors Ltd. CV & Auto Pool D.A. Jan-09
Second Loss Piece
LA+(SO)!
[ICRA]AA(SO)!
25 Tata Motors Ltd. CV & Auto Pool D.A. Nov-08
Second Loss Piece
LAA-(SO)!
[ICRA]AAA(SO)!
26 Tata Motors Ltd. CV & Auto Pool D.A. Oct-08 II
Second Loss Piece
LAA-(SO)!
[ICRA]AAA(SO)!
27 Tata Motors Ltd. CV Pool D.A. Nov-08 II
Second Loss Piece
LAA(SO)!
[ICRA]AAA(SO)!
28 Zeta Pioneer IFMR Capital 2011
PTC Series A1
A1(SO)
[ICRA]A1+(SO)
29 Zeta Pioneer IFMR Capital 2011
PTC Series A2
A3+(SO)
[ICRA]A2+(SO)
(B)
Non – Structured Instruments – April 2011 – September 2011
Rating movements between Apr 2011-Sep 2011 - Downgrades
1
1
1
2
3
4
5
6
6
7
7
8
9
9
10
11
12
12
13
13
14
15
15
Name of Company
A G Aerovision Electronics Private Limited
A G Aerovision Electronics Private Limited
A G Aerovision Electronics Private Limited
A.S. Cargo Movers Private Limited
Abhyudaya Educational Trust
Acme Telecom Assets Limited
Aditi Rice Mills Private Limited
Agrawal Education Mandal
Agrawal Education Mandal
Agro Dutch Industries Limited
Agro Dutch Industries Limited
ALP Overseas Private Limited
Archidply Industries Limited
Archidply Industries Limited
Artefact Projects Limited
Aruppukottai Shri Vijayalakshmi Textile Mills Private Limited
Asaco Private Limited
Asaco Private Limited
ASP Sealing Products Limited
ASP Sealing Products Limited
Automotive Coaches and Components Limited
Axis Ad-Print-Media (India) Limited
Axis Ad-Print-Media (India) Limited
Earlier Rating
LBB
LB
A4
LB+
LB
LA-(stable)
LC+
LB
LC
LC
A4
LC
LB+
A4
LC
LBBLB+
A4
LBB+
A4+
LB+
LBBBA3
Revised Rating as
per new symbol
[ICRA]B
[ICRA]D
[ICRA]D
[ICRA]C+
[ICRA]D
[ICRA]BB+(stable)
[ICRA]D
[ICRA]C
[ICRA]D
[ICRA]D
A5
[ICRA]D
[ICRA]D^
[ICRA]D^
[ICRA]D
[ICRA]B[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]BB+(stable)
[ICRA]A4+
Rating movements between Apr 2011-Sep 2011 - Downgrades
16
17
18
19
20
20
21
21
21
22
23
23
24
25
26
26
27
27
28
29
30
31
31
32
32
32
Name of Company
B. C. Exports
B.S. Sea Foods Private Limited
BD&P Hotels (India) Private Limited
Belgaum Wind Farms Private Limited
Bharat Mines and Minerals
Bharat Mines and Minerals
Bheema Cements Limited
Bheema Cements Limited
Bheema Cements Limited
Bhrigus Software India Private Limited
Birla Ericsson Optical Limited
Birla Ericsson Optical Limited
BLA Projects Pvt. Ltd.
Blue Bird Arts Manufacturing Private Limited
BMM Ispat Limited
BMM Ispat Limited
BRG Energy Limited
BRG Energy Limited
BST Textile Mills Private Limited
Bulk Liquid Solutions (P) Limited
Chakradhar Chemicals Pvt Ltd
City Heart Hotels Private Limited
City Heart Hotels Private Limited
Conros Steels Private Limited
Conros Steels Private Limited
Conros Steels Private Limited
Earlier Rating
A4
LBB
LC
LBBBLBBB+@
A2+@
LBA4
LC
LBBB
LBBBA3
LBB(stable)
LBLBBB+@
A2+@
LBBB
A3+
LBB
LC
LBB
LB
LC
LBB
LB
A4
Revised Rating as
per new symbol
[ICRA]D
[ICRA]B(stable)
[ICRA]D
[ICRA]BB(stable)
[ICRA]BBB@
[ICRA]A2@
[ICRA]C
A5
[ICRA]D
[ICRA]D
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]B
[ICRA]D
[ICRA]BBB@
[ICRA]A2@
[ICRA]D
[ICRA]D
[ICRA]BB-(stable)
[ICRA]D
[ICRA]BB-(stable)
[ICRA]C
[ICRA]D
[ICRA]B
[ICRA]D
[ICRA]D
Rating movements between Apr 2011-Sep 2011 - Downgrades
33
34
34
35
36
Name of Company
Controls and Schematics Limited
Cosmas Pharmacls Limited
Cosmas Pharmacls Limited
Country Colonizers Private Limited
Deepa Panels Private Limited
Earlier Rating
LBB
LBBBA3
LBBLBB-
37
37
38
38
39
39
40
41
42
42
43
44
45
45
46
47
48
48
49
50
Deepak Cables (India) Limited
Deepak Cables (India) Limited
Dembla Valves Limited
Dembla Valves Limited
Deutsche Postbank Home Finance Limited
Deutsche Postbank Home Finance Limited
Dev Fun Point Reality Private Limited
Divyalakshmi Textiles Private Limited
Dynamatic Technologies Limited
Dynamatic Technologies Limited
Electronics and Controls Power Systems Private Limited
Empee Sugars and Chemicals Limited
Expanded Polymer Systems Private Limited
Expanded Polymer Systems Private Limited
Fertichem Cotspin Limited
Firepro Systems Private Limited
Flawless Diamond India Ltd
Flawless Diamond India Ltd
Futura Polyesters Limited
GB Engineering Enterprises Private Limited
LBBB+
A2
LBBBA3
LAA+@
MAA+@
LB+
LC
LBBB+
A2
LC
LB+
LBB+
A4+
LBBLB+
LBBBA3
LBLB+
Revised Rating as
per new symbol
[ICRA]BB-(stable)
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]B+
[ICRA]B
[ICRA]BBB(negative)
[ICRA]A3
[ICRA]C
A5
[ICRA]AA(stable)
MAA(stable)
[ICRA]D
[ICRA]D
[ICRA]BBB(stable)
[ICRA]A3+
[ICRA]D
[ICRA]D
[ICRA]BB
[ICRA]A4
[ICRA]B+
[ICRA]D
[ICRA]B+
[ICRA]A4
[ICRA]D
[ICRA]D
Rating movements between Apr 2011-Sep 2011 - Downgrades
50
51
51
52
52
53
54
54
55
55
56
56
57
57
58
59
60
61
62
62
63
64
65
66
67
68
Name of Company
GB Engineering Enterprises Private Limited
Geodesic Techniques Private Limited
Geodesic Techniques Private Limited
GEPL Capital Private Limited
GEPL Capital Private Limited
Ghodawat Foods International Private Limited
GMR Ambala Chandigarh Expressways Private Limited
GMR Ambala Chandigarh Expressways Private Limited
Gokaldas Exports Limited
Gokaldas Exports Limited
Gora Mal Hari Ram Limited
Gora Mal Hari Ram Limited
GSR Textiles Private Limited
GSR Textiles Private Limited
GTI Jewellery India Private Limited
Gurudeva Charitable Trust
Halonix Limited
Harihar Rocks
Hilton Metal Forging Limited
Hilton Metal forging Limited
Hind Metals & Industries Private Limited
HMA Agro Industries Limited
HMA Food Export Private Limited
Hy-Link Overseas Private Limited
iGATE Global Solutions Limited
Ind Barath Energies (Maharashtra) Limited
Earlier Rating
A4
LBBBA3
LBB+
A4+
LBB+
LBBB
A2
LA-(negative)
A2+
LBBB(stable)
A3+
LB+
A4
A4+
LB+
LBBB+&
LC
LB+
LC+
LC
LC
LB
LBB
IrAA@
LB
Revised Rating as
per new symbol
[ICRA]D
[ICRA]BB(stable)
[ICRA]A4
[ICRA]BB(stable)
[ICRA]A4
[ICRA]BB(stable)
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]BBB+(stable)
[ICRA]A2
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]D
[ICRA]D
[ICRA]A4
[ICRA]D
[ICRA]BBB(stable)
[ICRA]D
[ICRA]C+
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]BB-(stable)
IrAA[ICRA]C
Rating movements between Apr 2011-Sep 2011 - Downgrades
68
69
70
71
72
72
Name of Company
Ind Barath Energies (Maharashtra) Limited
Ind Barath Energies (Thoothukkudi) Limited
Indian Cane Power Limited
Indian Pulp & Paper Private Limited
Indore Composite Private Limited
Indore Composite Private Limited
73
73
74
74
75
76
77
78
79
80
81
82
83
83
84
Indu Navayuga Infra Projects Pvt. Ltd.
Indu Navayuga Infra Projects Pvt. Ltd.
Indu Projects Limited
Indu Projects Limited
Indus Westside Healthcare Private Limited
International Electron Devices Limited
Iqu Power Company Private Limited
J.N. Auto Private Limited
Jagdish Chand Gupta, Engineers & Contractors
Jaideep Ispat & Alloys Private Limited
Jaipuria Infrastructure Developers Private Limited
Jayavelu Spinning Mills Private Limited
JCT Limited
JCT Limited
Jhunjhunwala Oil Mills Limited
Earlier Rating
LC
LB
LBLC
LBBBA3
LBBB(positive)
LC+
LBBB
A3+
LC
LC
LC
LBB-(stable)
LBLBB
LBLBB
LC+
A4
LB
84
85
86
87
Jhunjhunwala Oil Mills Limited
Jhunjhunwala Trading Private Limited
Just Textiles Limited
Jyoti CNC Automation Private Limited
A4
LBB
LC
LB
Revised Rating as
per new symbol
[ICRA]D
[ICRA]C
[ICRA]C
[ICRA]D
[ICRA]BB-(stable)
[ICRA]A4
[ICRA]C+
[ICRA]D
[ICRA]B+
[ICRA]A4
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]B+
[ICRA]D
[ICRA]BB-(stable)
[ICRA]D
[ICRA]B+
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]B+
[ICRA]D
[ICRA]D
Rating movements between Apr 2011-Sep 2011 - Downgrades
87
88
89
90
91
91
92
93
93
94
94
95
96
97
97
98
99
100
100
101
102
103
103
104
105
106
Name of Company
Jyoti CNC Automation Private Limited
Kadakia Plastics and Chemicals Pvt. Ltd
Kalinga Sponge Iron Limited
Kamla Shanti Landmarc Properties Private Limited
Kanco Enterprises Limited
Kanco Enterprises Limited
Kinfotech Private Limited
KM Sugar Mills Limited
KM Sugar Mills Limited
Krishnaveni Sugar Limited (formerly Krishnaveni Sugars Limited)
Krishnaveni Sugar Limited (formerly Krishnaveni Sugars Limited)
KSC Education Society
Lahoti Terra Knitfab Ltd.
Laila Nutraceuticals
Laila Nutraceuticals
Lathiya Brothers and Company
Leela P Clothing Private Limited
Lokmangal Agro Industries Limited
Lokmangal Agro Industries Limited
Lokmangal Sugar Ethanol and Co-generation Limited
M&M Cocoa Products Private Limited
M/s SPR Group Holdings Private Limited
M/s SPR Group Holdings Private Limited
M/s SPR Sugars Private Limited
Magnum Ventures Limited
Maharishi Ayurveda Products Private Limited
Earlier Rating
A4
LC
LC
LBBB-(stable)
LB+
A4
LB
LC+
A4
LBB+(negative)
A4+
LBB+
LB
LB+
A4
LBB
LC
LB
LC
LB
LC+
LB+
A4
LC
LC
A3
Revised Rating as
per new symbol
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]C+
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]BB(stable)
[ICRA]A4
[ICRA]BB-(stable)
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]BB-(stable)
[ICRA]D
[ICRA]C
[ICRA]D
[ICRA]B[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]A4
Rating movements between Apr 2011-Sep 2011 - Downgrades
107
108
108
108
109
109
109
110
111
111
112
113
113
114
114
115
116
116
117
117
118
119
120
121
122
122
Name of Company
Mail Order Solutions (India) Private Limited
Malu Paper Mills Limited
Malu Paper Mills Limited
Malu Paper Mills Limited
Malwa Industries Limited
Malwa Industries Limited
Malwa Industries Limited
Mandava Cotton Mills Private Limited
Manjeet Cotton Private Limited
Manjeet Cotton Private Limited
Maritime Energy Heli Air Services Private Limited
Maruti Cotex Limited
Maruti Cotex Limited
Maruti Papers Limited
Maruti Papers Limited
Mayur Roller Flour Mills Private Limited
Mayur Veneer & Plywood Industries
Mayur Veneer & Plywood Industries
McML Systems Private Limited
McML Systems Private Limited
MEP Cotton Limited
Mica Industries Limited
Middle East Hotel Company Private Limited
Modi Naturals Limited
Mohan Spintex India Limited
Mohan Spintex India Limited
Earlier Rating
LBBB
LB+
LB
A4
LB+
A4
LC
LC+
LBBBA3
LC
A4
LC
LBB+
A4+
LBB
LBB+
A4+
LB+
A4
LC
LB+
LBB+(stable)
LBB+
LBB+
A4+
Revised Rating as
per new symbol
[ICRA]BBB-(stable)
[ICRA]B
[ICRA]D
[ICRA]D
[ICRA]C
A5
[ICRA]D
[ICRA]D
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]D
A5
[ICRA]D
[ICRA]B+
[ICRA]A4
[ICRA]BB-(stable)
[ICRA]BB
[ICRA]A4
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]B[ICRA]BB(stable)
[ICRA]BB(stable)
[ICRA]BB(stable)
[ICRA]A4
Rating movements between Apr 2011-Sep 2011 - Downgrades
123
123
124
125
126
127
128
129
129
130
130
131
132
133
134
134
135
136
136
137
138
138
138
139
140
140
Name of Company
MRO-TEK Limited
MRO-TEK Limited
Nagar Kopargaon Infrastructure Private Limited
National Industrial Corporation Limited
Navayuga Bengalooru Tollways Pvt. Ltd.
Neogal Power Company Private Limited
NSL SEZ (Hyderabad) Private Limited
NSL Sugars Limited
NSL Sugars Limited
Orient Ceramics & Industries Limited
Orient Ceramics & Industries Limited
Oswal Woollen Mills Limited
P&R Engineering Services Private Limited
Palai Jyoti Banquet Private Limited
Parveen Travels Private Limited
Parveen Travels Private Limited
Patikari Power Private Limited
PBA Infrastructure Limited
PBA Infrastructure Limited
Perfect Knitters Limited
Permanent Magnets Limited
Permanent Magnets Limited
Permanent Magnets Limited
Phoeniix
Phthalo Colours and Chemicals (I) Limited
Phthalo Colours and Chemicals (I) Limited
Earlier Rating
LBBBA3
LBLBB
LBBB(stable)
LC
LBB
LBBB+(stable)
A2
LBBB+@
A2+@
LBBB+
LBLB+
LB
A4
LB
LB+
LC
LC
LBB-(stable)
LBA4
LBB
LB
A4
Revised Rating as
per new symbol
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]D
[ICRA]BB-(stable)
[ICRA]BBB-(stable)
[ICRA]D
[ICRA]BB-(stable)
[ICRA]BBB(negative)
[ICRA]A3+
[ICRA]BBB(negative)
[ICRA]A2
[ICRA]BBB(stable)
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]C
[ICRA]D
[ICRA]D
[ICRA]B[ICRA]D
[ICRA]D
[ICRA]B[ICRA]D
[ICRA]D
Rating movements between Apr 2011-Sep 2011 - Downgrades
141
142
142
143
143
144
145
146
146
147
148
149
150
151
152
153
154
155
155
156
156
157
158
158
Name of Company
Phulchand Exports Private Limited
Pix Transmissions Limited
Pix Transmissions Limited
PMT Machines Limited
PMT Machines Limited
Prabhu Dayal Kanojiya
Prafful Industries Private Limited
Prajay Engineers Syndicate Limited
Prajay Engineers Syndicate Limited
Prakash Steel Corporation
Pranjal Infrastructure Private Limited
Pravara Rural Education Society
Precot Meridian Limited
R.K. Associates
Radiant Hospitality Services Private Limited
Rajashree Spintex Private Limited
Rajvir Industries Limited
Rallison Electricals Private Limited
Rallison Electricals Private Limited
Rama Newsprint and Papers Limited
Rama Newsprint and Papers Limited
Rama Paper Mills Limited
Rana Iron and Power Limited (formerly known as Rana Sponge
Limited)
Rana Iron and Power Limited (formerly known as Rana Sponge
Limited)
Earlier Rating
LBBLB
A4
LA
A1
LBB
LC
LBA4
LBBLBLC+
LBBB+(stable)
LC
LB+
LBB
LB+
LB
A4
LBB+
A4+
LC
Revised Rating as
per new symbol
[ICRA]B+
[ICRA]D^
[ICRA]D^
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]BB-(stable)
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]B+
[ICRA]D
[ICRA]D
[ICRA]BBB(stable)
[ICRA]D
[ICRA]D
[ICRA]BB-(stable)
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]C
A5
[ICRA]D
LB+
[ICRA]D
A4
[ICRA]D
Rating movements between Apr 2011-Sep 2011 - Downgrades
159
159
160
160
161
162
163
164
165
166
167
168
169
170
170
170
170
171
171
172
172
173
173
174
174
175
Name of Company
Rana Polycot Limited
Rana Polycot Limited
Rana Sugars Limited
Rana Sugars Limited
Ranka-N-Ranka Infrastructure Private Limited
Rathi Steel and Power Limited (erstwhile Rathi Udyog Limited )
RAUS Infras Limited
Rawmin Mining and Industries Private Limited
Reliance Communications Limited
Reliance MediaWorks Limited
Reliance Telecom Limited
Renaissance RTW Asia (P) Limited
RKSK Overseas Private Limited
Roman Tarmat Limited
Roman Tarmat Limited
Roman Tarmat Limited
Roman Tarmat Limited
RPS Infrastructure Limited
RPS Infrastructure Limited
RRC International Freight Services Limited
RRC International Freight Services Limited
RTStar Diamonds
RTStar Diamonds
RTStar Jewelry Private Limited
RTStar Jewelry Private Limited
RTStar Solitaires
Earlier Rating
LBA4
LBA4
LC
LB+
LBB+
A3
LAA+@
LA
LAA+@
A4+
LBB+
LBB+
A4+
LB+
A4
LBB
A4
LBBB-(stable)
A3
LBB
A4
LB
A4
LBB+
Revised Rating as
per new symbol
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]B
[ICRA]BB-(stable)
[ICRA]A4+
[ICRA]AA@
[ICRA]A-(stable)
[ICRA]AA@
[ICRA]A4
[ICRA]D
[ICRA]B+
[ICRA]A4
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]D
Rating movements between Apr 2011-Sep 2011 - Downgrades
175
176
176
177
177
178
178
179
179
179
180
181
181
182
183
184
184
185
186
186
187
188
188
189
189
190
Name of Company
RTStar Solitaires
Ruchi Acroni Industries Limited
Ruchi Acroni Industries Limited
Ruchi Global Limited
Ruchi Global Limited
Rupam Conductors Private Limited
Rupam Conductors Private Limited
S A Iron and Alloys Private Limited
S A Iron and Alloys Private Limited
S A Iron and Alloys Private Limited
S.P. Apparels Limited
Saalim Shoes Private Limited
Saalim Shoes Private Limited
Saboo Sodium Chloro Limited
Saket Infraprojects Limited
SAL Steel Limited
SAL Steel Limited
Sam Apparels Private Limited
Sam Apparels Pvt Ltd (formerly Sam Overseas)
Sam Apparels Pvt Ltd (formerly Sam Overseas)
Samagra Shikshana Samithi Trust
Samtel Glass Limited
Samtel Glass Limited
Sara Exports Limited
Sara Exports Limited
Saraswati Education Society
Earlier Rating
A4+
LBB+
A4+
LBB+
A4+
LBBA4
LBB
LBA4
LC
LBB+
A4+
LBB+
LBB
LB
A4
[ICRA]C
LBB+
A4+
LBBLBA4
LBB+(stable)
A4+
LB
Revised Rating as
per new symbol
[ICRA]D
[ICRA]BB
[ICRA]A4
[ICRA]BB(stable)
[ICRA]A4
[ICRA]C
A5
[ICRA]B[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]B
[ICRA]A4
[ICRA]BB(stable)
[ICRA]BB-(stable)
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]C
A5
[ICRA]B
[ICRA]D
[ICRA]D
[ICRA]BB(stable)
[ICRA]A4
[ICRA]D
Rating movements between Apr 2011-Sep 2011 - Downgrades
191
192
192
193
194
194
195
196
197
198
199
200
201
202
202
203
203
204
205
206
207
207
208
208
209
210
Name of Company
Saravana Textiles Private Limited
Sarvpriya Industries Limited
Sarvpriya Industries Limited
Satya Prakash Hotels Private Limited
Saurabh Agrotech Private Limited
Saurabh Agrotech Private Limited
Sawhney Builders Private Limited
Seatrans Freight Carriers
Selvakumar Spinners Private Limited
Seven Island Shipping Limited
Shekhar Resorts Limited
Sheth Metal Private Limited
Shipra Estate Limited
Shirdi Country Inns Private Limited
Shirdi Country Inns Private Limited
Shree Ambika Sugars Limited
Shree Ambika Sugars Limited
Shree Krishna Paper Mills and Industries Limited
Shree Krishna Vanaspati Industries Private Limited
Shree Swastic Sales Corporation Private Limited
Shrichakra Udyog Limited
Shrichakra Udyog Limited
Sical Iron Ore Terminals Limited
Sical Iron Ore Terminals Limited
Singh Industries Pvt Ltd
Singhi Cables & Conductors Private Limited
Earlier Rating
LBB
LB
A4
LBB+
LBB+
A4+
LC
LBB+
LBB
LBBB
LC+
LB
LB
LB
LC
LBBB
A3+
LC
LBB
LBBLB+
A4
LBBB-@
A3@
LB+
LBB-
Revised Rating as
per new symbol
[ICRA]BB-(stable)
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]BB(stable)
[ICRA]A4
[ICRA]D
[ICRA]BB(stable)
[ICRA]BB-(stable)
[ICRA]C
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]C
[ICRA]D
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]D
[ICRA]B
[ICRA]B+
[ICRA]D
[ICRA]D
[ICRA]BB+(negative)
[ICRA]A4+
[ICRA]D
[ICRA]B+
Rating movements between Apr 2011-Sep 2011 - Downgrades
211
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
225
Name of Company
SMC Power Generation Limited
SMC Power Generation Limited
Smilax Laboratories Limited
Solar Semiconductor Private Limited
Sorento Granito Private Limited
Sova Electrocasting Limited
Sowmiya Spinners Private Limited
SP Superfine Cotton Mills Private Limited
Sparklings Traders Private Limited
Sri Jayajothi & Co. Limited
Sri Muthukumaran Educational Trust
Sri MVR Cotton Oil Mills Private Limited
Sri Parameswari Spinning Mills Private Limited
Sri Saravana Tex Exports India Private Limited
Sri Srinivasa Spintex (India) Limited
Srinivasa Edifice Private Limited
Srinivasa Edifice Private Limited
226
226
227
228
228
229
229
230
State Trading Corporation of India Limited
State Trading Corporation of India Limited
Steel & Metals
Sterling Biotech Limited
Sterling Biotech Limited
Sterling Oil Resources Limited
Sterling Oil Resources Limited
Sterling SEZ & Infrastructure Limited
Earlier Rating
LB+
LC+
LB
LC
LB+
LC
LBB
LC
LBBLC
LC
LB
LBB
LBBLBB
LBBBA3
LBBB(negative)
A3
LBB
LBBB+
A3+
LBB+
LC
LBB+
Revised Rating as
per new symbol
[ICRA]C+
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]B[ICRA]D
[ICRA]B+
[ICRA]D
[ICRA]B+
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]B+
[ICRA]B+
[ICRA]B+
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]BB(stable)
[ICRA]A4
[ICRA]BB-(stable)
[ICRA]C
[ICRA]A4
[ICRA]C
[ICRA]D
[ICRA]D
Rating movements between Apr 2011-Sep 2011 - Downgrades
231
232
233
233
234
234
235
235
236
236
236
236
237
237
237
Name of Company
Suryodaya Textiles Private Limited
Synergy Shakti Renewable Energy Limited
Taj Frozen Foods India Limited
Taj Frozen Foods India Limited
Tamil Nadu Electricity Board
Tamil Nadu Electricity Board
TDI Infrastructure Limited
TDI Infrastructure Limited
Technico Industries Limited
Technico Industries Limited
Technico Industries Limited
Technico Industries Limited
Teekay Marines Private Limited
Teekay Marines Private Limited
Teekay Marines Private Limited
Earlier Rating
LB
LBBBLBBBA3
LBBB-&
[ICRA]BB+
LBBLB
LBBB-(stable)
A3
LB+
A4
LBB
A4
LC
238
238
239
239
240
240
241
241
242
243
Terra Energy Limited
Terra Energy Limited
The Community Centre
The Community Centre
The Liberty Marine Syndicate Private Limited
The Liberty Marine Syndicate Private Limited
Thiru Arooran Sugars Limited
Thiru Arooran Sugars Limited
Topworth Pipes and Tubes Private Limited
Tradeline Enterprises Private Limited
LBBB(stable)
A3+
LB+
LC
LBB+(stable)
A4+
LBBB
A3+
LBB+
LC
Revised Rating as
per new symbol
[ICRA]D
[ICRA]D
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]BB+&
[ICRA]D
[ICRA]B
[ICRA]D
[ICRA]B+
[ICRA]A4
[ICRA]D
[ICRA]D
[ICRA]C
A5
[ICRA]D
[ICRA]BBB(negative)
[ICRA]A3
[ICRA]C
[ICRA]D
[ICRA]BB(stable)
[ICRA]A4
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]D
[ICRA]D
Rating movements between Apr 2011-Sep 2011 - Downgrades
244
245
246
246
247
248
248
249
249
250
250
251
252
252
253
254
254
255
256
256
257
258
259
259
259
260
Name of Company
Tubeknit Fashions Limited
Uan Max Infra Limited
Unique Biotech Limited
Unique Biotech Limited
Unisource Papers Private Limited
Uppal Ferrocast Private Limited
Uppal Ferrocast Private Limited
V3S Infratech Limited (earlier known as Gahoi Buildwell Limited)
V3S Infratech Limited (earlier known as Gahoi Buildwell Limited)
Vayhan Coffee Limited
Vayhan Coffee Limited
Velacity
Vinayak Steels Limited
Vinayak Steels Limited
Vishnu Cotton Mills Limited
Vrinda Forgings Private Limited
Vrinda Forgings Private Limited
VRV Textiles Limited
Well Pack Papers & Containers Limited
Well Pack Papers & Containers Limited
Westside Hotels and Resorts Private Limited
Wianxx Impex Private Limited
Wingsfield Knitwear Private Limited
Wingsfield Knitwear Private Limited
Wingsfield Knitwear Private Limited
Yash Papers Limited
Earlier Rating
LB
LB+
LBBBA3
LBBLBB
A4
LBB+
A4+
LB
A4
LBLBBBA3
LC
LBB+
A4+
LBB
LB+
A4
LB
LBLBB
LB
A4
LC
Revised Rating as
per new symbol
[ICRA]D
[ICRA]B[ICRA]D
[ICRA]D
[ICRA]B+
[ICRA]D
[ICRA]D
[ICRA]BB(stable)
[ICRA]A4
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]D
[ICRA]D
[ICRA]D
[ICRA]B+
[ICRA]D^
[ICRA]D^
[ICRA]D
[ICRA]D
[ICRA]B
[ICRA]D
[ICRA]D
[ICRA]D
Rating movements between Apr 2011-Sep 2011 - Upgrades
Name
of the
Issuer
1
2
2
3
3
4
5
5
6
7
7
8
9
9
10
11
12
13
14
14
15
16
16
17
17
Rating prior to Revision
Ace Designers Limited
Adani Agri Fresh Limited
Adani Agri Fresh Limited
Adani Gas Limited
Adani Gas Limited
Ajax Fiori Engineering India Pvt Ltd
Ambika Cotton Mills Limited
Ambika Cotton Mills Limited
Anglo-French Drugs & Industries Limited
Anuh Pharma Limited
Anuh Pharma Limited
Aptus Biosciences Private Limited
Arush Industries
Arush Industries
Automotive Axles Limited
AVR Swarnamahal Jewelry Private Limited
B.V.Bio-Corp Pvt. Ltd.
Bajaj Motors Limited
Barflex Polyfilms Pvt. Ltd.
Barflex Polyfilms Pvt. Ltd.
BEKEM Infra Projects Private Limited
Belco Pharma
Belco Pharma
Bill Forge Private Limited
Bill Forge Private Limited
Rating Post
Revision
LA+
LBB+
A4+
LBBB
A2
LBBB+
LBBB-(stable)
A3
A3
LBBB
A2
LB
LBB+
A4+
LA(stable)
LBB+
LBBB+
A1
LBB+(positive)
A4+
LBBB
LBB
A4
LBBB-(stable)
A3
Name of the Issuer
[ICRA]AA-(stable)
[ICRA]BBB(stable)
[ICRA]A3+
[ICRA]BBB+(stable)
[ICRA]A2+
[ICRA]A-(stable)
[ICRA]BBB(stable)
[ICRA]A3+
[ICRA]A3+
[ICRA]BBB+(stable)
[ICRA]A2+
[ICRA]B+
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]A+(stable)
[ICRA]BBB-(stable)
[ICRA]A-(stable)
[ICRA]A1+
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]BBB+(stable)
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]BBB(stable)
[ICRA]A3+
Rating movements between Apr 2011-Sep 2011 - Upgrades
Name
of the
Issuer
18
18
19
19
20
20
21
22
22
23
24
24
25
26
27
28
29
30
30
31
32
33
34
Rating prior to Revision
Bohra Industries Limited
Bohra Industries Limited
Bola Surendra Kamath & Sons
Bola Surendra Kamath & Sons
CBay Systems (India) Private Limited
CBay Systems (India) Private Limited
Chennai Container Terminal Private Limited
Cheslind Textiles Limited
Cheslind Textiles Limited
D S Kulkarni Developers Limited
Desai Electronics Private Limited
Desai Electronics Private Limited
Dharamshila Cancer Foundation & Research Centre
DML Exim Private Limited
DML World Trade Private Limited
Durha Constructions Private Limited
Emerald Jewel Industry India Limited
Empire Industries Limited
Empire Industries Limited
Eskay Fine Chemicals
Fancy Fittings Limited
Fekari Infrastructure Private Limited
Rating Post
Revision
LBB
A4
LBB+
A4+
LBBBA3
A2+
LBB+
A4+
LB
LBBB-(stable)
A3
LA-(stable)
LB+
LBBLBBB
A2
LBBB+(stable)
A2
A3+
A3+
LC+
Name of the Issuer
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]BBB(stable)
[ICRA]A3+
[ICRA]A1
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]BB(stable)
[ICRA]BBB(stable)
[ICRA]A3+
[ICRA]A(stable)
[ICRA]BB(stable)
[ICRA]BB(stable)
[ICRA]BBB+(stable)
[ICRA]A2+
[ICRA]A-(stable)
[ICRA]A2+
[ICRA]A2
[ICRA]A2
[ICRA]B+
Ferromatik Milacron India Private Limited (erstwhile Ferromatik Milacron India Limited)
LBBB+
[ICRA]A-(stable)
Rating movements between Apr 2011-Sep 2011 - Upgrades
Name
of the
Issuer Rating prior to Revision
34
35
36
36
37
38
38
39
39
40
41
41
42
42
43
44
44
45
45
46
47
47
48
48
Ferromatik Milacron India Private Limited (erstwhile Ferromatik Milacron India Limited)
Forum Retail Private Limited
Fujikawa Power
Fujikawa Power
Gabriel India Limited
Geon International
Geon International
Ginza Industries Limited
Ginza Industries Limited
GMR Jadcherla Expressways Private Limited
Hans Industries Private Limited
Hans Industries Private Limited
Harrisons Malayalam Limited
Harrisons Malayalam Limited
IDBI Home Finance Limited
IFCI Limited
IFCI Limited
IIC Technologies Private Limited
IIC Technologies Private Limited
India Infoline Investment Services Limited
Indu Projects Limited
Indu Projects Limited
IndusInd Bank Ltd.
IndusInd Bank Ltd.
Rating Post
Revision
Name of the Issuer
A2+
LB+
LBB+
A4+
LALBB+
A4+
LB+
A4
LBBB
LBB
A4
LBB+
A4+
LAA%
LAA1
LBBBA3
LA+
LB+
A4
LAA-(stable)
LA+(stable)
[ICRA]A1
[ICRA]BB-(stable)
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]A(stable)
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]A-(stable)
[ICRA]BB+
[ICRA]A4+
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]AA+(stable)
[ICRA]A(stable)
[ICRA]A1+
[ICRA]BBB+(stable)
[ICRA]A2
[ICRA]AA-(stable)
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]AA(stable)
[ICRA]AA-(stable)
Rating movements between Apr 2011-Sep 2011 - Upgrades
Name
of the
Issuer
49
50
50
51
51
52
52
53
54
54
55
55
56
56
57
58
58
59
59
60
60
61
62
62
63
Rating prior to Revision
Inmar Tourism and Hotels Private Limited
International Seaport Haldia Private Limited
International Seaport Haldia Private Limited
Jaina Marketing & Associates
Jaina Marketing & Associates
Jaina Mobile India Private Limited
Jaina Mobile India Private Limited
Jaksons Developers Private Limited
Jay Polychem (India) Limited
Jay Polychem (India) Limited
JMD Limited
JMD Limited
Kajaria Ceramics Limited
Kajaria Ceramics Limited
Kallam Agro Products & Oils (P) Limited
Kamdhenu Polymers Private Limited
Kamdhenu Polymers Private Limited
KBJ Jewellery Private Limited
KBJ Jewellery Private Limited
Kherani Paper Mills Private Limited
Kherani Paper Mills Private Limited
Kilburn Engineering Limited
Kotak Mahindra Prime Limited
Kotak Mahindra Prime Limited
Kothari Cars Private Limited
Rating Post
Revision
LBB
LBBBA3
LBBB
A3+
LBBB
A2
LB+
LBB
A4
LBB
A4
LBBB(stable)
A3+
LBB
LBBA4
LBB
A4
LBB+
A4+
LBBB
LAA(positive)
LAA
pp(positive)
LBBB-
Name of the Issuer
[ICRA]BBB-(stable)
[ICRA]BBB+(stable)
[ICRA]A2+
[ICRA]BBB+
[ICRA]A2+
[ICRA]BBB+(stable)
[ICRA]A2+
[ICRA]BB(stable)
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]BBB+(stable)
[ICRA]A2
[ICRA]BB+(stable)
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]BBB+(stable)
[ICRA]AA+(stable)
[ICRA]AA+
pp(stable)
[ICRA]BBB(stable)
Rating movements between Apr 2011-Sep 2011 - Upgrades
Name
of the
Issuer
64
65
66
66
67
67
68
68
69
70
71
71
72
73
74
75
75
76
76
77
78
79
80
81
82
Rating prior to Revision
L G Balakrishnan & Bros Limited
L&T Krishnagiri Thopur Toll Road Limited
La Gajjar Machineries Private Limited
La Gajjar Machineries Private Limited
La Opala RG Limited
La Opala RG Limited
Lovelock & Lewes
Lovelock & Lewes
Luxmi Tea Company Ltd
M K Roy & Bros Projects Private Limited
M/s Sunland Metal Recycling Industries
M/s Sunland Metal Recycling Industries
MAA Television Network Limited
Machino Polymers Limited
Magppie Exports Private Limited
Malabar Hotels Private Limited
Malabar Hotels Private Limited
Metalfab Hightech Private Limited
Metalfab Hightech Private Limited
Mica Industries Limited
Minda Industries Limited
Miraj Products Private Limited
Mirza International Limited
Modern Industries
MoneyLine Credit Limited
Rating Post
Revision
LALBBB+
LBBB-(stable)
A3
LBBB-(stable)
A3
LA+
A1
A2
LB+
LBB+
A4+
LALBBB+
LB
LC
A5
LBBBA3
LBLBBB+
LB
LBBB+
LBBBA1
Name of the Issuer
[ICRA]A(stable)
[ICRA]A-(stable)
[ICRA]BBB(stable)
[ICRA]A3+
[ICRA]BBB(positive)
[ICRA]A3+
[ICRA]AA-(stable)
[ICRA]A1+
[ICRA]A2+
[ICRA]BB-(stable)
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]A(stable)
[ICRA]A-(stable)
[ICRA]B+
[ICRA]B
[ICRA]A4
[ICRA]BBB(stable)
[ICRA]A3+
[ICRA]B+
[ICRA]A-(stable)
[ICRA]BB(stable)
[ICRA]A-(stable)
[ICRA]BBB(stable)
[ICRA]A1+
Rating movements between Apr 2011-Sep 2011 - Upgrades
Name
of the
Issuer
83
84
85
86
86
87
87
88
89
89
90
91
91
92
92
93
93
94
94
95
96
97
97
98
98
Rating prior to Revision
Narbheram Vishram
NCL Industries Limited
Neco Heavy Engineering and Castings Limited
Net 4 India Limited
Net 4 India Limited
Nhava Sheva International Container Terminal Private Limited
Nhava Sheva International Container Terminal Private Limited
Omax Autos Limited
Oswal F M Hammerle Textiles Limited
Oswal F M Hammerle Textiles Limited
P P Products Private Limited
Paracoat Products Limited
Paracoat Products Limited
Paradeep Phosphates Limited
Paradeep Phosphates Limited
Paramount Printpackaging Limited
Paramount Printpackaging Limited
Petro Carbon & Chemicals Private Limited
Petro Carbon & Chemicals Private Limited
Polynova Industries Limited
Prabhat Dairy Private Limited
Price Waterhouse - Kolkata
Price Waterhouse - Kolkata
PricewaterhouseCoopers Private Limited
PricewaterhouseCoopers Private Limited
Rating Post
Revision
A2
LB
LB+
LBB+(stable)
A4+
LA
A1
A2
LB
A5
A4
LBB+
A4+
LBBB
A2
LC
A5
LBB+
A4+
A3
LBB(stable)
LA+
A1
LA+
A1
Name of the Issuer
[ICRA]A2+
[ICRA]BB-(stable)
[ICRA]BB(stable)
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]A+(stable)
[ICRA]A1+
[ICRA]A2+
[ICRA]BB-(stable)
[ICRA]A4
[ICRA]A4+
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]BBB+
[ICRA]A2+
[ICRA]B+
[ICRA]A4
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]A3+
[ICRA]BB+(stable)
[ICRA]AA-(stable)
[ICRA]A1+
[ICRA]AA-(stable)
[ICRA]A1+
Rating movements between Apr 2011-Sep 2011 - Upgrades
Name
of the
Issuer
99
99
100
100
101
101
102
102
103
103
104
104
105
105
106
107
108
109
110
111
112
112
113
114
114
Rating prior to Revision
Prince Gem & Jewelry Private Limited
Prince Gem & Jewelry Private Limited
Pyramid Technoplast Private Limited
Pyramid Technoplast Private Limited
Rai Bahadur Narain Singh Sugar Mills Limited
Rai Bahadur Narain Singh Sugar Mills Limited
Ramkrishna Forgings Limited
Ramkrishna Forgings Limited
Ramprastha Promoters & Developers Private Limited
Ramprastha Promoters & Developers Private Limited
Rana Papers Limited
Rana Papers Limited
Rathi Graphic Technologies Limited
Rathi Graphic Technologies Limited
Rathi Rajasthan Steel Mills Limited
Rathi Special Steels Limited
Reddy Veeranna Constructions Private Limited
Relaxo Footwears Limited
Renaatus Projects Private Limited (erstwhile RPP Selvam Infrastructure Private Limited)
Rucha Engineers Private Limited
S.G. International
S.G. International
Sahyadri Starch & Industries Private Limited
Sai Regency Power Corporation Limited
Sai Regency Power Corporation Limited
Rating Post
Revision
LBB+
A4+
LBB+(stable)
A4+
LBB
A4
LBBB+
A2+
LB+
LBB+
LB
A5
LBB
A4
LBBLBB+(stable)
LB
LBBB+
A4+
LBBBLBB+
A4+
LBBB
LBBB
A3+
Name of the Issuer
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]A-(stable)
[ICRA]A1
[ICRA]BB+(stable)
[ICRA]BBB-(stable)
[ICRA]B+
[ICRA]A4
[ICRA]BB+
[ICRA]A4+
[ICRA]BB(stable)
[ICRA]BBB-(stable)
[ICRA]BB(stable)
[ICRA]A-(stable)
[ICRA]A3
[ICRA]BBB(stable)
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]BBB+(stable)
[ICRA]BBB+(stable)
[ICRA]A2
Rating movements between Apr 2011-Sep 2011 - Upgrades
Name
of the
Issuer
115
115
116
117
117
118
119
120
121
122
123
124
125
125
126
126
127
127
128
128
129
129
130
131
131
Rating prior to Revision
Schwing Stetter India Private Limited
Schwing Stetter India Private Limited
Select Infrastructure Private Limited
Shah Brothers Ispat Pvt Ltd
Shah Brothers Ispat Pvt Ltd
Sheetal Manufacturing Company Private Limited
Sheikh Bhullan and Sons
Shri Ramalinga Mills Limited
Southern Batteries Private Limited
Spads Textiles Limited
Sri Venkata Sai Educational Society
Starlight Systems Private Limited
Steamline Industries Limited
Steamline Industries Limited
Sun Nirman Infrastructure Private Limited
Sun Nirman Infrastructure Private Limited
Sunnox International
Sunnox International
Sunrise Containers Limited
Sunrise Containers Limited
Sunstar Precision Forge Limited
Sunstar Precision Forge Limited
Superhouse Limited
Surana Corporation Limited
Surana Corporation Limited
Rating Post
Revision
LA+
A1
LALBB
A4
LBB+
LC+
LB
LB+
LB
LB+
LBBBLBB
A4
LBB+
A4+
LBB+
A4+
LBBB+
A2+
LBBA4
LBBB+
LBBB+
A2
Name of the Issuer
[ICRA]AA-(stable)
[ICRA]A1+
[ICRA]A(stable)
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]BBB-(stable)
[ICRA]B+
[ICRA]B+
[ICRA]BB-(stable)
[ICRA]B+
[ICRA]BB(stable)
[ICRA]BBB(stable)
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]A-(stable)
[ICRA]A1
[ICRA]BB+(stable)
[ICRA]A4+
[ICRA]A-(stable)
[ICRA]A-(stable)
[ICRA]A2+
Rating movements between Apr 2011-Sep 2011 - Upgrades
Name
of the
Issuer
132
132
133
134
135
135
136
136
137
138
139
140
141
141
142
143
144
145
146
146
147
Rating prior to Revision
Suryalakshmi Cotton Mills Limited
Suryalakshmi Cotton Mills Limited
Swastik Coal Corporation Private Limited
Tarajyot Polymers Limited
Texspin Bearings Limited
Texspin Bearings Limited
The Andhra Petrochemicals Limited
The Andhra Petrochemicals Limited
Titan Industries Limited
TM International Logistics Limited
Trivista Steels & Power Limited
United Breweries Limited
United Telecoms Limited
United Telecoms Limited
United Telelinks (Bangalore) Limited
Veer-O-Metals Private Limited
Vipul Limited
VRL Logistics Private Limited
Western Refrigeration Private Limited
Western Refrigeration Private Limited
Zylog Systems Limited
Rating Post
Revision
LBB+
A4+
LB+
A4
LBBB
A3+
LBBB+
A2
LAA
IrA+
LB
LALBBBA3
A2
A3+
LB
LBB
LB+
A5
LA
Name of the Issuer
[ICRA]BBB-(stable)
[ICRA]A3
[ICRA]BB-(stable)
[ICRA]A4+
[ICRA]BBB+(stable)
[ICRA]A2
[ICRA]A-(stable)
[ICRA]A2+
[ICRA]AA+(positive)
IrAA-(stable)
[ICRA]BB-(stable)
[ICRA]A(stable)
[ICRA]BBB(stable)
[ICRA]A3+
[ICRA]A2+
[ICRA]A2
[ICRA]B+
[ICRA]BB+(stable)
[ICRA]BB-(stable)
[ICRA]A4
[ICRA]A+(stable)