Long-term debt programs of Indian firms rated by FITCH-PART I

HEG Ltd NCD
AA-(ind) 300 Reaffirmed HEG Ltd

NCD AA-(ind) 400 Withdrawn
HEG Ltd LT Bank Loans
AA-(ind) 1710 Assigned HEG Ltd

FB WC Banking Lines AA-(ind)/ F1+(ind) 7920
Assigned HEG Ltd Non-FB WC Banking
Lines AA-(ind)/ F1+(ind) 1500 Assigned Hightemp
Furnaces Ltd National LT rating BBB-(ind)

Assigned Hightemp Furnaces Ltd LT
Bank Loans BBB-(ind) 275.3 Assigned Hightemp
Furnaces Ltd Cash Credit Facilities BBB-(ind)

80 Assigned Hightemp Furnaces Ltd ST
Bank Loan Facility BBB-(ind) 50 Assigned Hi-Tech
Gear Ltd National Long-term rating A-(ind)

Assigned Hi-Tech Gear Ltd Term
Loans A-(ind) 636.2 Assigned Hi-Tech Gear
Ltd Fund Based WC Limit A-(ind)/
360 Assigned F1(ind) Hi-Tech Gear Ltd
Non-Fund Based WC Limit A-(ind)/ 25 Assigned F1(ind)
Hind Terminals Bank Loan Facilities Long-Term Loans
BBB(ind) 2450 Assigned Hindalco Industries Ltd.

NLTR AA(ind) Withdrawn
Hindalco Industries Ltd. NCD
AA(ind) 5000 Withdrawn Hindustan Unilever Ltd

LTIR AAA(ind) Reaffirmed
Hindustan Dorr-Oliver Ltd. NLTR
A(ind) Assigned Hindustan Dorr-Oliver Ltd.

Cash Credit A(ind) 1000 Assigned
Holcim Ltd Senior unsecured ratings
BBB+ Reaffirmed Holcim Ltd

LT Issuer Default BBB+ Reaffirmed
Hyderabad Metropolitan NLTR
A(ind) Withdrawn Hydroair Tectonics Ltd.

NLTR BBB(ind) Assigned
Hydroair Tectonics Ltd. LT Bank Loans
BBB(ind) 125 Assigned Hydroair Tectonics Ltd.

Fund Based CC Limit BBB(ind) 960 Assigned IBM
India Pvt. Ltd National Long Term
AAA(ind) Assigned IBM India Pvt. Ltd

LT FB Working Capital AAA(ind) 3000 Assigned
ICICI Bank Ltd. Outstanding Bonds
BBB- 500 Upgraded ICICI Bank Ltd. (Loan
Securitisation Trust Series 45) PTC

AA-(ind)(SO) Assigned ICICI Bank
Ltd.(Loan Seucuritisation Trust Series XLIII)
PTC AA-(ind)(SO) Assigned ICICI's
Indian RMBS 2003 Trust Series 1 PTC
Series A and Series P AAA(ind)(SO) Reaffirmed ICLST
Series XLV Senior PTC
BB-(ind) 499.9 Downgraded IDAA Infrastructure Pvt. Ltd.

LT Bank Loans BBB-(ind) 12110 Reaffirmed
IDBI Bank Ltd National LT Rating
AA+(ind) Affirmed IDBI Bank Ltd

Upper Tier 2 AA-(ind) 15000 Downgraded
IDBI Bank Ltd LT Foreign Currency IDR
BBB- Affirmed IDBI Bank Ltd

Individual Rating D Downgraded
IIERT (Series A) PTC
AAA(ind)(SO) 587.6 Reaffirmed ILSS 2 Trust 2009

Series A PTC AAA(ind) 605.1 Assigned
ILSS 2 Trust 2009 PTC Series A
AAA(ind)(so) 605.1 Assigned India's Deepak Spinners Ltd.

National LT Rating BB-(ind) Assigned
India's Deepak Spinners Ltd. LT Bank Loans
BB-(ind) 526.2 Assigned India's Deepak Spinners Ltd.

Fund Based Limits BB-(ind)/ F4(ind) 540
Assigned India's Deepak Spinners Ltd. Non-Fund Based
Limits BB-(ind)/ F4(ind) 120 Assigned Indian Loan
Receivable Trust ApII-09 Series T1 PTC AAA(ind)(SO)

Assigned Indian Loan Receivable Trust ApII-09 Series T2
PTC AAA(ind)(SO) Assigned India Glycols
Ltd. NLTIR A(ind)

Assigned India Glycols Ltd. Long-term
Bank Loans A(ind) 3375.7 Assigned India
Infrastructure Fin.Co. Ltd. Unsecured Redeemable NCD
AAA(EXP)(ind) 100000 Assigned India Infrastructure Fin.Co.
Ltd. Unsecured Redeemable NCD AAA(ind)(SO) 2000 Assigned
India Infrastructure Fin.Co. Ltd. Unsecured Redeemable NCD
AAA(ind)(SO) 4000 Assigned India Loan Securitisation VIII
Trust 2006 Series A PTC
AAA(ind)(SO) Assigned Indias Mira Bhayander Municipal
Corp NLTIR A-(ind) Assigned
Indias Spice Communications Ltd Bank Facilities
A-(ind)(SO) 3000 Assigned Indias Spice Communications Ltd

Bank Facilities A-(ind)(SO) 50 Assigned
Indias Spice Communications Ltd Non-Fund Based Limits
A+(ind)(SO)/ F1+(ind)(SO) 550 Assigned Indias Spice
Communications Ltd National Long Term Rating BBB(ind)

Assigned Indian Corporate Securitiation Trust Series
XLV Series A PTC BBB+(ind)(SO)

Assigned
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-----------------------------#: Rating Watch with Developing
implications @: Rating Watch with Negative Implications %:
Rating under Credit Watch wd -Rating Stands Withdrawn sp
-Rating Suspended CCPS-Cumulative Convertible Preference Share;
CPS-convertible preference shares; DDB-Deep Discount Bond;
EPBI-Exchange premium bond; FRB/FRN-Floating Rate Bond/Note;
FRD-floating rate debentures; MOCD-multiple option convertible
debenture; MTN-medium term notes; NCB- non-convertible bond;
NCD(SO)-Non Convertible Debenture-(Structured Obligation);
NCD-Non- Convertible Debenture; NCRB-Non Convertible Redeemable
Bonds; NM-Not Meaningful; OCD- optionally convertible
debenture; OFCD-Optionally Fully Convertible Debenture; PCD-
Partially Convertible Debenture; PCN-partly convertible notes;
POCD-partly optional convertible debentures; PP-privately
placed; PS-Preference Shares; PTC-Pass Through Certificates;
RPS-Redeemable Preference Shares; SCPN-secured convertible
preference notes; SDO-Structured Debt Obligation; SLR-Statutory
Liquidity Ratio; SPN-secured premium notes; TB-Taxable Bond;
TFB-Tax Free Bond; TOCD-triple option convertible debentures;
LTCD-Long Term Convertible Debenture; NIR-National Issuer
Rating; NLTR-National Long Term Rating; NLTIR-National Long
Term Issuer Rating; FCIDR-Foreign Currency Issuer Default
Rating; NIFS-National Insurer Financial Strength; FBL-Fund
Based Bank Limits; WC-Working Capital.
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