Short-term debt programs of Indian firms rated by ICRA

October 27 (Reuters) - Below are the ratings awarded by
Investment Information Credit Rating Agency on short-term debt
issues, including commercial paper, of Indian companies.
RATINGS BEEN ISSUED AND UPDATED TILL OCTOBER 24, 2008
----------------------------------------------------------------
------------------------------Company

Instrument Rating Amount Movement

(Rs.mln) ------
---------- ------ ------- --------- Aarti
International Ltd Non FBL A2+

85 Assigned Aarti International Ltd
FBL A2+ 1100 Assigned
Abhishek Industries Limited CP
A1+(s) 100 Withdrawn ABN Amro Bank N.V. (Indian
Branches) CD A1+ 75000
Assigned ABN AMRO Securities (I) STD

A1+ 8000 Reaffirmed ABN Amro Bank N.V.

HEL Trust-PTC A1+(SO)
Withdrawn ABP Pvt Ltd Non Fund Based
Limits A1+ 420 Assigned ACC Ltd.

CP/STD A1+ 5000
Reaffirmed Adani Wilmar Limited Non Fund Based
Limits A2 9700 Assigned Aditya Birla Nuvo
Ltd STD/CP A1+ 10000

Enhanced Aditya Birla Retail Limited Short Term
Loans A1 900 Assigned Aditya Birla
Retail Limited Fund Based Limits A1
100 Assigned Aditya Birla Retail Limited Non
Fund Based limits A1 2040 Assigned Adlabs
Films Ltd. CP Programme A1+

7500 Reaffirmed Afcons Infrastructure Ltd
Short-Term Loan A1+ 2500 Assigned
Afcons Infrastructure Ltd Letter of Credit
A1+ 1000 Assigned Akums Drugs and
Pharmaceuticals Ltd Non fund based Limits A2+ 80

Assigned Allahabad Bank CD

A1+ 120000 Assigned American Express
Bank CD A1+
20000 Reaffirmed Anand Rathi Financial Services Ltd STD

A1 1000 Assigned Angel Infin
Pvt Ltd. STD A1
2200 Assigned Anugraha Valve Castings Ltd. FBL

A2 200 Assigned Anugraha
Valve Castings Ltd. Non FBL A2

30 Assigned Arch Pharmalabs Ltd.
STD/CP A1 400 Enhanced
Archies Ltd. CP/STD
A1+ 100 Enhanced Ashok Leyland Ltd

Short term loans A1+ 2000 Assigned
Ashok Leyland Ltd Non FBL
A1+ 5000 Assigned Axis Bk(Corporate Debt Trust
2008-09 Series 7 Series A1
A1+(SO) 3750 Assigned Axis Bk(Corporate Debt Trust
2008-09 Series 7 Series A2
A1+(SO) 283.28 Assigned Axis Bank Ltd.

CD A1+ Reaffirmed
B. Seenaiah & Co. Projects Ltd. Commercial Paper Programm
A1 4200 Assigned B. Seenaiah & Co. Projects
Ltd. Non-fund based limits A1 4300
Assigned Bajaj Electricals Ltd. Non-fund based
limits-ST A1 3367.1 Assigned Bajaj Electricals
Ltd. CP Programme A1+s 100

Withdrawn Bajaj Motors Ltd. Non Fund
Based Limits A1 100 Assigned Balmer Lawrie
& Co. Ltd. CP/STD A1+
250 Retained Balmer Lawrie ST Fund
Based Facility A1+ 600 Assigned Balrampur
Chini Mills Ltd. Non FBL A1
685 Assigned Balrampur Chini Mills Ltd.
CP/STD A1 5000 Reaffirmed Banco
Products India Ltd. STD/CP A1+

100 Enhanced Bank lines of Adani Power Ltd
Non-FBL–short term scale A2 1280 Assigned Bank
of Baroda CD A1+

25000 Reaffirmed Bank Of Maharashtra
CD Programme A1+ 50000 Assigned Bank
Of Rajasthan CD Programme A1

500 Reaffirmed Barclays Bank PLC (India operations)
CD A1+ 50000 Assigned Bata
India Ltd. CP A1+

400 Reaffirmed Bengal Ambuja Housing Dev. Ltd.
STD/CP A2+ 500 Downgraded
Bharti Airtel Ltd. Non FBL
A1+ Assigned Bharat Aluminium Company Ltd.

STD A1+ 4000 Reaffirmed
Bharat Bijlee Ltd. ST Bank Limits
A1+ Assigned Bharat Box Factory Ltd.

Fund Based Limits A2+ 101.2 Assigned
Bharat Electronics Ltd Non FBL
A1+ 10000 Assigned Bharat Electronics Ltd

STD A1+ 100 Reaffirmed
Bharat Forge Ltd. Non-FBLs
A1+ 2750 Assigned Bharat Mines & Minerals

Fund Based Bk Facilities A2+ 200 Assigned
Bharat Seats Ltd FBL
A1 34 Assigned Bharat Seats Ltd

Non FBL A1 95 Assigned
Bihar Tubes Ltd. Non Fund Based Limits
A2+ 120 Assigned Biological E. Ltd.

CP A1 150 Withdrawn
Birla Global Finance Company Ltd. ITD
A1+ 3840 Assigned Birla Global Finance Company
Ltd. ITD A1+ 13000
Assigned Birla Global Finance Company Ltd. STD

A1+ 11850 Enhanced Bongaigaon Refinery &
Petrochemicals Non FBL A1+ 1000
Assigned Bongaigaon Refinery & Petrochemicals CP

A1+ 1000 Reaffirmed C.Mahendra Exports Ltd.

Fund Based Limits A2 5220
Assigned Cadila Pharmaceuticals Ltd Non FBL

A1 230 Assigned Cadila Pharmaceuticals
Ltd FBL A1 1200
Assigned Cambridge Solutions Ltd Fund Based Bank
Limits A2 488 Reaffirmed Canara Bank

CD A1+ 30000
Reaffirmed Canara Bank CD

A1+ 150000 Assigned Century Metal
Recycling Pvt.Ltd. Non Fund Based Limit A3
390 Assigned Centurion Bank of Punjab PTC

A1+(SO) Assigned CESC Ltd.

STD/CP A1+
1600 Reaffirmed Chambal Fertilisers & Chem. Ltd. CP

A1+ 1000 Withdrawn Charbhuja
Industries Pvt Ltd Non-Fund Based Limit A3
30 Assigned Chennai Petroleum Corp. Ltd.
CP/STD A1+ 500 Reaffirmed
Chinatrust Commercial Bank CD
A1+ 500 Assigned Cholamandalam DBS Finance Ltd.

STD A1+ 10000 Assigned
Cholamandalam DBS Finance Ltd. STD
A1+ 20000 Assigned Cinemax India ltd.

Fund Based Limits A2+ 130 Assigned
CMS Computers Ltd. Non FBL-LT BG/LOC
A1 590 Assigned Control & Switchgear Co. Ltd.

CP A1 150 Assigned
Consolidated Construction Consortium ST Bank Limits
A1+ 1790 Assigned Compuage Infocom Ltd

Non fund based limit A2 1357.5 Assigned
Dabur Pharma Limited FB/Non FB Working Capital
A2+ 930 Assigned Dakshin Gujarat Vij Co. Ltd.

Non FBL A2+ 600 Assigned
Dalmia Cement (Bharat) Ltd. CP/STD
A1+ 2500 Enhanced Davangere Sugar Company Ltd

ST Non FBL A3 50 Assigned
DCM Shriram Consolidated Ltd. CP/STD
A1 2500 Downgraded