CREDIT RATING : CARE RATINGS - One of India’s Premier Credit Rating Agency

CARE assigns ‘AAA’ rating to LT Debt of Reliance Capital Ltd. CARE assigns ‘AA’ rating to Upper Tier II Bond issue of Allahabad Bank. CARE assigns ‘BBB+’ & ‘PR2+’ rating to Bank Loan Facilities of Visa Steel Ltd. CARE assigns ‘A+’ rating to Bank Loan Facilities of Philips Carbon Black Ltd. CARE assigns ‘A-’ Rating to the proposed Tier II Bonds and reaffirms the rating outstanding issues of Bank of Rajasthan Ltd. CARE assigns ‘BBB’ & ‘PR2’ rating to Bank Loan Facilities of Sanwaria Agro Oils Ltd. CARE assigns ‘BBB’ & ‘PR3’ rating to Bank Loan Facilities of VNR Infrastructures Ltd. CARE assigns ‘A+’ rating to Secured REdeemabale Bonds/ NCD issue of Orient Paper & Industries Ltd. CARE assigns ‘A-’ rating to Bank Loan Facilities of Ahmedabad Ring Road Infrastructure Ltd. CARE assigns ‘A-’ & ‘PR2+’ rating to Bank Loan Facilities of Sanghavi Jewel Pvt. Ltd.

Rating Committee

CARE is committed to the establishment of the highest standards of professional quality and integrity. One of the guiding factors in achieving this objective is the independence in rating decisions. In line with this, CARE has independent Rating Committee comprising reputed professionals who decide each rating. They are assisted in the evaluation by a team of professional analysts with varied experience in industry, banking and FIs.

CARE’s Rating Committee Members¹ include:

Mr. S. H. Khan Chairman		Former Chairman of IDBI Ltd.
Mr. P.V. Narasimham		Former Chairman of IFCI Ltd. Former Executive Director of IDBI Ltd.
Mr. Y. H. Malegam		Former Managing Partner - S. B. Billimoria & Co. Member of the Board of Directors of a number of companies and organisations including the Reserve Bank of India
Mr. S. M. Datta		Former Chairman of Hindustan Lever Ltd
Dr. N. K. Sengupta		Retired Indian Administrative Services Officer. Has held very senior positions in Government like Controller of Capital Issues, Revenue Secretary and Member Secretary of Planning Commission.
Mr. S. Doreswamy		Former Chairman and Managing Director of Central Bank of India and Dena Bank.

1. Specific delegation of powers also provide for a committee comprising of senior executives of CARE to decide some of the ratings/gradings.



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