Short-term debt programs of Indian firms rated by CRISIL:PartIII

Vinyl Chemicals CP
P1+# 80 Vimal Oil and Foods Ltd. Letter of
Credit Limits P4 500 Assigned Vimta Labs

Bank Guarantee P1 10
Assigned Viraj Impex Private Ltd Letter of
Credit P2 880 Assigned Viva Highways
Private Ltd BG P1
12 Assigned VMT Spinning Co. Ltd Packing
Credit P1+ 60 Assigned VMT Spinning
Co. Ltd Foreign Bill Negotiation P1+
40 Assigned VMT Spinning Co. Ltd Letter of
Credit P1+ 25 Assigned VMT Spinning Co.
Ltd Bank Guarantee P1+ 25

Assigned Walchandnagar Industries LoC & Bank
Guarantee P1+ 5850 Assigned Wellknown
Polyester Ltd LOC P2
85.5 Assigned Wellknown Polyester Ltd Bank
Guarantee P2 70 Assigned Western
India Forgings Bank Guarantee P2+

45 Assigned Western India Forgings
Letter Of Credit P2+ 17.5 Assigned Western
India Forgings Buyer Credit P2+

50 Assigned Whirlpool of India Ltd
Short-Term Debt P1+ 1900 Assigned Witmans
Industries LOC P4

60 Assigned Witmans Industries BG

P4 1 Assigned Witmans
Industries Line of Credit P4

9 Assigned Wockhardt Ltd CP

P1+ 750 Reaffirmed Wockhardt
Ltd PTC P1(SO)
51.2 Downgraded Wockhardt Ltd PTC

P1(SO) 500.2 Downgraded Yes Bank
Ltd. PTC P1+(SO)

502.83 Assigned Zuari Industries Ltd ST
Loan P1 3000 Assigned Zuari
Industries Ltd LOC P1

3500 Assigned
----------------------------------------------------------------
-----------------------------#: Rating Watch with Developing
implications @: Rating Watch with Negative Implications %:
Rating under Credit Watch wd -Rating Stands Withdrawn sp
-Rating Suspended NCD-Non-convertible Debentures; CP-Commercial
Paper; CD-Certificate of Deposit; CCPS-Cumulative Convertible
Preference Shares; CLO-Collateralized Loan Obligation; DDB-Deep
Discount Bond; OFCD-Optionally Fully Convertible Debenture;
PCPS- Partly Convertible Preference Share; PTC-Pass Through
Certificates;PSPC-Post Shipment & Packing Credit; SO-Structured
Obligation; STB-Short Term Bond; STD-Short Term Debentures;
BG-Bank Guarantee; PSPC-Post Shipment & Packing Credit LOC:
Letter of Credit. P1: very strong; P2: strong; P3: adequate.
CRISIL may apply + sign for rating from P1 to P3 to reflect a
comparative higher standing within the category.
----------------------------------------------------------------
-----------------------------