Outstanding Ratings as on March 31, 2013 Name of the Issuer Issuer Rating Long Term Short Term Term Deposits Outlook A.S. Steel Traders (VSP) Private Limited – IND BB-(suspended) – – – Aaditiya Aswin Paper Mills Private Limited – IND BB- IND A4+ – Stable Abellon CleanEnergy Ltd IND BB Stable – – – ABG Shipyard Ltd▼ – IND BBB – – – Abhinandan Interexim Pvt Ltd (Sri Balmukund Group Entity) – IND BB+ IND A4+ – Stable ACC Limited – IND AAA IND A1+ – Stable ACCIL Corporation Limited – IND BBB-(SO) – – – ACCIL Hospitality Limited – IND BBB-(SO) – – – AD Hydro Power Limited – IND BBB – – Stable Adarsh Developers – IND B+ – – Negative Adarsh Realty & Hotels Private Limited – IND B – – Negative Adhunik Alloys and Power Limited – IND BB+(suspended) IND A4+(suspended) – – Adhunik Cement Limited – IND BB-(suspended) IND A4+(suspended) – – Adhunik Corporation Limited – IND BB IND A4+ – Stable Adhunik Industries Limited – IND BB+ IND A4+ – Stable Adhunik Metaliks Limited – IND BBB(suspended) IND A2(suspended) – – Adhunik Power Transmission (formerly Unistar Galvaniser & Fabricators Pvt – IND B+(suspended) IND A4(suspended) – – Ltd) Aditya Vidyut Appliances Limited – IND BB+ IND A4+ – Stable Admark Polycoats Pvt Ltd – IND BB IND A4+ – Stable AES Chhattisgarh Energy Private Limited – – IND A2+(SO) – – Agio Paper & Industries Limited – IND C – – – AGR Steel Strips Private Limited – IND BB IND A4+ – Stable Air India Limited – IND AAA(SO)(exp) - – - Air India Limited – IND AAA(SO) - – - Air India Ltd (formerly National Aviation Company of India Limited) – IND AAA(SO) – – – Air Travel Bureau Limited – IND BBB IND A3+ – Stable Air Works India Engineering Pvt Ltd – IND BBB+ IND A2+ – Stable Air-India Charters Limited – IND AAA(SO) – – – Aishwarya Farms IND D – – Aishwarya Feeds – IND B+ IND A4 – Stable Ajay Trading Company – IND B+(suspended) IND A4(suspended) – - Akash Coke Industries Private Limited – IND C(suspended) IND D(suspended) – – AKC Steel Industries Ltd. – IND BB- – – Stable Alchemist Hospitals Limited – IND B+ – – Stable Alchemist Limited – IND BBB- IND A3 – Negative Alkor Petroo Limited – IND BBB+(SO) – – – All Services Global Pvt Limited (formerly A.L.L Services Under 1 Roof (India) – IND BB+ IND A4+ – Stable AlliancePvt. Ltd.) Minerals Private Limited – IND B IND A4 – Stable Amaravathi Sri Venkatesa Paper Mills Limited – IND D IND D – – Amaravthy Spinning Mills – IND D/ IND C IND C – – Amba Highrise Pvt Ltd – IND B – – Stable Amber Electrotech Ltd. – IND B+ IND A4 – Stable Amber Enterprises (India) Private Limited – IND A- IND A2+ – Stable Ambica Steels Limited – IND BB+ IND A4+ – Positive Ambuja Cement Limited (formerly known as Gujarat Ambuja Cements – IND AAA IND A1+ – Stable Limited) Amir Chand Jagdish Kumar (Exports) Limited – IND BBB- IND A3 – Stable Amon-ra Impex Private Limited – IND B+ IND A4 – Stable Amorphos Chemicals Private Limited – IND B+(suspended) IND A4(suspended) – – Amroon Foods Private Limited (Fair Group Entity) – IND BB- IND A4+ – Stable Ananth Technology Limited - IND BB IND A4+ – Stable Anchor Malls Private Limited – IND B+ – – Stable Andhra Pradesh Fibres Limited – IND BB-(suspended) IND A4+(suspended) – – Andrew Yule & Co. Ltd IND D IND C IND A4 – – Anmol Biscuits Limited – IND A IND A1 – Stable Ansal Housing and Construction Limited – IND BB- IND A4+ – Stable Antelec Pvt Ltd – IND BBB- IND A3 – Stable AR Airways Private Limited – IND BB- – – Stable Aradhya Steel Private Limited – IND BB- IND A4+ – Stable Arc Marine Private Ltd – IND D IND D – - Arena Lifestyle Pvt Ltd – IND BB A4+ – Stable ARG Developers Pvt. Ltd. – IND B(suspended) – – - ARG Housing Pvt. Ltd. – IND B(suspended) – – - Arise India Limited – IND BBB+ IND A2 – Stable Arjun Agro Foods - IND B IND A4 - Stable Aruna Alloy Steels Private Limited – IND BB+ IND A4+ – Stable Aryavrat Trading Private Limited – IND B- – – Stable Ashika Commercial Private Limited – IND B IND A4 – Stable Asian Colour Coated Ispat Limited – IND BBB- IND A3 – Stable Asian Tea & Exports Limited (Asian Tea Group Entity) – IND BB+ IND A4+/ IND A4+(exp) – Stable Asian Tea Company Private Limited(Asian Tea Group Entity) – – IND A4+ – – Asritha Paper Mills Private Ltd – IND B- – – Stable Atlanta Limited – IND BBB-(suspended) IND A3(suspended) – – Aurobindo Pharma Limited – IND AA- IND A1+ – Stable Aurobindo Pharma Limited (Additional Bank Loans) – IND AA- IND A1+ – Stable India Ratings and Research www.indiaratings.co.in As on 31 March 2013 Avani Vanijya Pvt. Ltd. – – IND A4 – – Avaya Industries Ltd – IND B+ IND A4 – Stable Axiom Cordages Limited (formerly Axiom Impex International Limited) – IND A- IND A1 – Stable Axles India Limited - IND A- IND A2+ - Stable B & A Packaging India Limited (formerly B&A Multiwall Packaging Limited) – IND BB-(suspended) IND A4+(suspended) – - B Sorabji Group – IND B – – Stable B.G. Shirke Construction Technology Pvt Ltd – IND A- IND A2+ – Negative B.G. Shirke Construction Technology Pvt (Additional Bank Loans) – IND A- IND A2+ – - B.N.T. Connections Impex Ltd – IND BB- IND A4+ – Stable B.N.T. Innovations Private Limited – IND BB- IND A4+ – Stable Baby Engineering Private Limited (BEPL) - IND D IND A4 - - Bagh Bahar Appliances Private Limited – IND BB/IND BBB-(SO) IND A3(SO) – Stable Bajaj Eco Tech Products Limited – IND B IND A4 – Stable Balaji Action Buildwell – IND BBB- IND A3 – Stable Balaji Amines Limited – IND A- IND A2+ – Stable Balaji Greentech Products Limited – IND D – – - Balaji Oil Industries Private Limited – IND B+ IND A4 – Stable Balaji Powertronics – IND A IND A1 – Stable Balasore Alloys Limited – IND BB- IND A4+ – Stable BalKrishna Synthetics Ltd – IND BBB- IND A3 – Stable Ballarpur Industries Limited – IND AA- IND A1+ – Negative Ballyfabs International Limited – IND BBB- IND A3 – Stable Balmer Lawrie Company Limited – – IND A1+ – – Bannari Amman Apparel Private Ltd – IND B IND A4 – Stable Bansal Biscuits Private Limited – IND A IND A1 – Stable Bansal Coal Udyog Private Limited – IND B – – Stable Batliboi Environmental Engineering Ltd. – IND B+ IND A4 – Negative Batliboi Limited – IND B- IND A4 – Stable Bay Forge Ltd – IND B+ IND A4 – Stable BC Sen & Co Ltd – IND BBB IND A2 – Stable Beekay Steel Industries Limited – IND BBB- IND A3 – Stable Beri Udyog Private Limited – IND BBB- IND A3 – Stable Bhadresh Trading Corporation Ltd – IND BBB- IND A3 – Stable Bhansali Engineering Polymers Limited – IND BB IND A4+ – Negative Bharat Construction – IND BB IND A4+ – Stable Bharat Cotton Corporation - IND B- IND A4 - stable Bharat Heavy Electricals Limited – IND AAA IND A1+ – Stable Bharat Hydel Projects Private Limited – IND BB IND A4+ – Stable Bhartiya International Limited – IND A− IND A2+ – Stable Bharuch Enviro Infrastructure Pvt Limited – IND BBB- IND A3 – Stable Bhaskar Sarachi Alloys Ltd – IND B IND A4 – Stable Bhatia Wines (Bhatia Group Entity) – IND BBB - – Stable Bhavya Constructions Pvt. Ltd – IND B+/ IND B+(exp) – – Stable Bhoruka Park Pvt Limited – IND BBB+ – – Stable Bhumya Pvt Limited – IND D – – – Bhushan Power and Steel Limited (Formerly as Bhushan Limited) – IND A- IND A2+ – Stable Bilcare Limited ► – IND BBB+ IND A2+ – - BILT Graphic Paper Products Limited – IND AA- IND A1+ – Negative Binani Cements Limited – IND A(suspended) IND A1(suspended) – – Biopac India Corporation Limited – IND B IND A4 – Stable BLA Coke Pvt. Ltd IND A- - Stable Blue Dart Express Ltd – – IND A1+ – – Blues Clothing Company Limited – IND BB+ IND A4+ – Stable Bonai Industrial Company Ltd – IND AA- IND A1+ – Stable Borah Brothers Private Limited – IND BB- – – Stable Bostin Engineers Pvt Limited – IND B+ IND A4 – Stable Brahma Iron & Power Ltd – IND B(suspended) – – – Brahmani River Pellets Limited – IND BB+ – – Negative Bramhacorp Hotels & Resorts Limited – IND B+(suspended) – – – BTT Industries Private Limited – IND BB IND A4+ – Stable Calcutta Springs Limited – IND B-(suspended) IND A4(suspended) – – Calderys India Refractories Limited (formerly Ace Calderys Limited) – IND AA- IND A1+ – Stable Capital Meters Limited – IND B IND A4 – Stable Capital Power Infrastructure Private Limited – IND BB IND A4+ – Stable Capital Power Systems Limited – IND B+ IND A4 – Stable Carraro India Pvt Ltd – IND BBB+ IND A2+ – Stable Caterpillar India Private Limited – IND AAA IND A1+ – Stable CCL Products (India) Limited – IND A- IND A1 – Positive Celestial Biolabs Limited – IND D IND D – – Century Aluminium Manufacturing Co. Limited – IND BB IND A4+ – Stable CG Ispat Private Limited – IND BB+(suspended) IND A4+(suspended) – – Chandukaka Saraf and Sons Pvt. Ltd – IND BBB IND A2 – Stable Charchco Electronics (India) Private Limited - IND B - - Stable Chemical & Mineral Industries Private Limited – IND BB+ IND A4+ – Stable India Ratings and Research www.indiaratings.co.in As on 31 March 2013 Chemplast Sanmar Limited – IND BBB- IND A3 – Stable Chemrow India Private Limited – IND B+ IND A4 – Stable Chetan Wood Processing Private Limited – IND D – – – Chhatisgarh SEB IND A- IND A- – – Stable Chiripal Industries Limited – IND BBB- IND A3 – Stable Chiripal Polyfilms Pvt. Ltd IND BB+ IND A4+ Stable Choksi Imaging Limited – IND BBB- IND A3 – Negative Chola Spinning Mills Private Limited – IND BBB- IND A3 – Stable Chowdary Spinners Limited – IND B+ IND A4 – Stable Cimmco Limited – IND BBB IND A2 – Stable Cinevistaas Ltd. – IND BB-(suspended) IND A4+(suspended) – – CIPSA TEC India Private Limited (formerly CIPSA-RIC India Pvt Ltd) – IND D(suspended) IND D(suspended) – – Citycom Networks Private Limited – IND B+ – – Stable Claridges Hotel Private Limited – IND B+ – – Stable