Long-term debt programs of Indian firms rated by CARE:Part II

Nagarjuna Fertilizers & Chemicals LT Facilities
BB Assigned Nagarjuna Fertilizers & Chemicals

RPS BB- 243.9 Assigned
Nagreeka Exports Ltd. LT Bank Facilities
BB+ 1955.9 Assigned Nalwa Steel & Power Ltd.

Bank Facility A/PR1 1175.9 Assigned
Nandan Exim Ltd. LT Bank Facilities B

800 Assigned Nandi Economic Corridor Ent. Ltd.
NCD BBB(SO) 1750 Assigned Narmada
Hydroelectric Dev Corp Ltd. Term Loans AA

28991.7 Assigned Narmada Hydroelectric Dev Corp Ltd.
Proposed bond issue AA(SO) 29000 Assigned National
Aluminium Co. LT Facilities AAA
3000 Assigned National Engineering Industries Ltd Bank
Facilities A+/PR1+ 4518 Reaffirmed National
Engineering Industries Ltd. LT Bank Facilities A+
2781 Retained National Housing Bank Bonds
Programme AAA Reaffirmed National
Highways Authority of India Bonds AAA
40000 Assigned National Highways Authority of India 54EC
Bond Programme AAA 25000 Reaffirmed National
Textile Corporation long-term bond programmes AAA(SO)

Reaffirmed National Textile Corporation Ltd. GOI
Guaranteed

Taxable Bonds
AAA(so) 5000 Withdrawn Navi Mumbai SEZ Private Ltd.

Non Fund Based Limits A 4000 Assigned
Navin Fluorine International Ltd. LT Facilities A

Assigned Neelachal Ispat Nigam Ltd.
Bonds AA-(SO) 496 Reaffirmed
Neelachal Ispat Nigam Ltd. Bonds
AA-(SO) 1000 Reaffirmed Neelachal Ispat Nigam Ltd.

LT Loans/Facilities AA(SO) Assigned
Neelachal Ispat Nigam Ltd. WC bank facilities
A- Assigned Neelachal Ispat Nigam Ltd.

NCD AA(SO) 2000 Assigned Neesa
Infrastructure Ltd. LT Bank Facilities BBB-

394 Assigned Neesa Leisure Ltd DDB

BBB+ 600 Assigned Neesa Leisure
Ltd. LT Bank Facilities BBB+
3686.5 Assigned Neesa Leisure Ltd. NCD

BBB+ 300 Assigned Neo Corp
International Ltd. LT Bank Facilities BBB-
426 Assigned Neo Carbons Pvt. Ltd. LT Bank
Facilities BBB 150 Assigned New Link
Overseas Finance Ltd. FD BBB
180 Reaffirmed NHB SPV Trust DP 1
Senior Class A PTC AAA (SO) Withdrawn
Nilachal Iron & Power Ltd. LT Facilities
BBB- 383 Assigned Nilkamal Ltd.

LT Bank Facilities A+ Assigned
Nirmal BOT Ltd Bank Facilities
BBB 2520 Assigned Nitin Spinners Ltd.

LT Bank Loan C 1871 Assigned Nitin
Spinners Ltd. LT Bank Facilities C

870.2 Assigned Nitin Spinners Ltd. FBL

BBB- 870.2 Assigned Nitin
Spinners Ltd. Term Loan BBB-

2007.8 Assigned Nitin Spinners Ltd. Non
FBL BBB-/PR3 100 Assigned Nitin
Spinners Ltd. LT Bank Facilities BB+

Reaffirmed Niru Jewels Pvt Ltd. LT
Bank Facilities BB+ 330 Assigned North
Karnataka Expressway Ltd LT Bank Facilities AA-

5151.7 Reaffirmed North Karnataka Expressway Ltd. LT
Bank Facilities AA- 5440.8 Reaffirmed Noida
Toll Bridge Co. Ltd. Deep Discount Bonds A-

55.4 Reaffirmed NOCIL Ltd. LT
Bank Facilities A- Assigned Nuclear
Power Corp. Of India Bond Issue AAA

Reaffirmed OCL India Ltd NCD

AA- 200 Reaffirmed Oceanus
Dwellings Pvt Ltd Bank Facilities BB

500 Assigned Omkar Textiles Mills Pvt. Ltd. LT
Bank Facilities BB 239 Assigned Oracle
Granito Ltd. LT Bank Facilities BB

700.9 Assigned Orient Abrasives Ltd. LT
Bank Facilities A+ 757.4 Assigned Oriental
Bank of Commerce Subordinate Bond AAA
5000 Retained Oriental bank of Commerce Upper
Tire II Bonds AA+ 5000 Reaffirmed Orient Craft
Ltd Long/ST Non-FB facilities BBB/PR3
1090 Assigned Orient Craft Ltd LT Loans

BBB 2825.2 Assigned Orient Craft Ltd

LT FB facilities BBB 3000
Assigned Orient Paper & Industries Ltd. LT and MT bk
facilities A+ Upgraded Orient Paper &
Industries Ltd Bonds/NCD A1+
1000 Assigned Oriental Pathways (Nagpur)Pvt Ltd LT Bank
Facilities BBB 1950 Assigned Oriental
Pathways (Indore)Pvt Ltd LT Bank Facilities BBB-
3900 Assigned Oriental Pathways (Agra)Pvt Ltd LT Bank
Facilities BBB 1380 Assigned P & C
Constructions Ltd. LT Bank Facilities BBB-

Assigned P&C Constructions (P) Ltd Bank
Facilities BBB-/PR3 950 Reaffirmed PAE Ltd.

LT Bank Facilities A-
221 Assigned Panacea Biotec Ltd. LT
Facilities A Assigned Panama
Petrochem Ltd. FBL A+

125 Assigned Panama Petrochem Ltd. Non
FBL A+/PR1+ 1505 Assigned Panama
Petrochem Ltd. Long Term Bank Facilities A+

Assigned Panchshil Corporate Park Pvt. Ltd. Term
Loan BBB 5700 Assigned Pantaloon
Retail India Ltd LT NCD A-
2500 Assigned Paramount Minerals & Chemicals Ltd LT Bank
Facilities BBB Assigned Parekh Aluminex
Ltd. LT Bank Facility A 3025

Assigned Parenteral Drugs(India) Ltd. Secured Term
Loans BBB+ 1171.9 Assigned Parenteral
Drugs(India) Ltd. FBL BBB+
755 Assigned Parenteral Drugs(India) Ltd. NFBL

BBB+ 350 Assigned Parsvnath
Developers Ltd NCD A
2000 Withdrawn Parinew Developers Pvt td Bank
Facilities BBB 2841 Assigned Patel
Engineering Ltd. Issuer Rating AA(IS)

Assigned Patel Engineering Limited Bank
Facilities AA Assigned Patel
Infrastructure Pvt. Ltd. LT Bank Facilities BBB-

204 Assigned Patel Infrastructure Pvt. Ltd.
LT/ST Bank Facilities BBB-/PR3 834.5 Assigned Patels
Airtemp Ltd. LT Bank Facilites A-

200 Assigned Patel KNR Heavy Infrastructure Pvt LT
Bank Facilities BBB- 4800 Assigned Patel KNR
Heavy Infrastructure Pvt LT Bank Facilities BBB
4150 Assigned Patwardhan Infrastructure Pvt. Ltd Long
Term Bank Facilities BBB- 253.6 Assigned Patwardhan
Infrastructure Pvt. Ltd. LT Bank Facility BBB-
227.1 Reaffirmed PBM Polytex Ltd. LT Bank
Facilites BB+ 585 Assigned Pengg Usha
Martin Wires Pvt Ltd LT Bank Facilities BBB-
255 Assigned Penna Cement Industries Ltd LT Bank
Facilities A 4762.7 Assigned Pennar
Industries Ltd. LT Bank Facilities BBB+

1468.5 Assigned Pennar Industries Ltd. ST
Bank Facilities BBB+ 400 Assigned PG Foils
Ltd. LT Bank Facilities BBB+

Assigned Pheroze Framroze & Co. Pvt. Ltd. LT Bank
Facility BBB 320 Assigned Philips Carbon
Black Ltd Term Loan A+
2000 Assigned Pipavav Shipyard Ltd LT Bank
Facilities BBB+ 9444.1 Reaffirmed Pipavav
Shipyard Ltd LT/ST Bank Facilities BBB+/PR3+

9378.5 Reaffirmed Plasser India Pvt. Ltd. LT
Facilities A+ Assigned PMC
Projects (India) Pvt. Ltd. Bank Facilities BB

525 Assigned
----------------------------------------------------------------
----------------------(Mumbai Rate Reporting Unit + 91 22 6636
9222, :E-mail at rru.data@reuters.com)