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

CARE assigns ‘CARE AA+’ and ‘PR1+’ rating to the Bank Facilities of Gujarat State Petroleum Corporation Ltd. CARE assigns ‘CARE IPO Grade 3’ grading to the proposed IPO of Electrosteel Integrated Ltd. CARE assigns ‘CARE AAA’ and ‘PR1+’ ratings to the market borrowing programme of Indian Railway Finance Corporation for FY2011. CARE assigns ‘CARE BBB’ and ‘PR3’ ratings to the Bank Facilities of Evinix Industries Ltd. CARE assigns ‘CARE BBB (SO)’ rating to the Bank Facilities of Gupta Energy Pvt. Ltd. CARE assigns ‘CARE BBB-’ and ‘PR3’ ratings to the bank facilities of Alfa Ica (India) Ltd. CARE assigns ‘CARE A-’ & ‘PR2+’ rating to the Bank Facilities of Bhushan Power & Steel Ltd. CARE assigns ‘CARE BBB-’ rating to the Bank Facilities of Vatika Hotels Pvt. Ltd. CARE assigns ‘CARE BBB-’ and ‘PR3’ ratings to the Bank Facilities of Geetanjali Woollens Pvt. Ltd. CARE assigns ‘CARE BB+’ rating to the Bank Facilities of Sheel Diamond Exports Ltd.

Credit Analysis & Research Ltd. (CARE Ratings) is a full service rating company that offers a wide range of rating and grading services across sectors. CARE has an unparallel depth of expertise. CARE Ratings methodologies are in line with the best international practices.

CARE Ratings has completed over 7654 rating assignments having aggregate value of about Rs.23121 bn (as at March 31, 2010), since its inception in April 1993. CARE is recognised by Securities and Exchange Board of India (Sebi), Government of India (GoI) and Reserve Bank of India (RBI) etc.

CARE has seven offices in India located at - Mumbai, Delhi, Kolkata, Chennai, Hyderabad, Bangalore and Ahmedabad.

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