March 30, 2012

Mumbai

C C A P Limited

Ratings Suspended

Total Bank Loan Facilities Rated
Rs.169.2 Million
Long-Term Rating
Suspended
Short-Term Rating
Suspended

(Refer to Annexure 1 for details on facilities)

CRISIL has suspended its ratings on the bank facilities of C C A P Limited (CCAP). The suspension of rating is on account of non-cooperation by CCAP with CRISIL’s efforts to undertake a review of the rating outstanding. Despite repeated requests by CRISIL, CCAP is yet to provide information substantiating its ability to service debt. The suspension reflects CRISIL’s inability to maintain a valid rating in the absence of this information.

About the Company

CCAP is a construction company, involved in civil, mechanical, and electrical engineering. It was set up in 1972 by Mr. Chitratan Mukherji. The company has carried out projects for constructing roads, bridges, production facilities and other civil works, for government and private entities. It was sold to Ramayana Promoters Pvt Ltd (Ramayana) in 2009. Ramayana is an investment company and is a sister concern of Shelter Projects Ltd (part of the Shelter group). The Shelter group is a real estate developer. It is also involved in the development of housing projects in partnership with the West Bengal Housing Board.

Annexure 1 - Details of various bank facilities

Current facilities
Previous facilities
Facility
Amount
(Rs. Million)
Rating
Facility
Amount (Rs. Million)
Rating
Rupee Term Loan
67.9
Suspended
Rupee Term Loan
67.9
CRISIL D
Bank Guarantee
70
Suspended
Bank Guarantee
70
CRISIL D
Cash Credit
31.3
Suspended
Cash Credit
31.3
CRISIL D
Total
169.2
--
Total
169.2
--

Media Contacts
Analytical Contacts
CRISIL Rating Desk
Mitu Samar
Head, Communications and Brand Management
CRISIL Limited
Tel: +91-22- 3342 1838
E-mail: msamar@crisil.com

Tanuja Abhinandan
Communications and Brand Management
CRISIL Limited
Tel: +91-22- 3342 1818
Email: tabhinandan@crisil.com

Nagarajan Narasimhan
Director - CRISIL Ratings
Tel: +91-22-3342 3536
Email: nnarasimhan@crisil.com

Ashutosh Satsangi
Head - CRISIL Ratings
Tel: +91-22-3342 3096
Email: asatsangi@crisil.com


Tel: +91-22-3342 3047/3342 3064
Email:CRISILratingdesk@crisil.com

Note:
This rating rationale is transmitted to you for the sole purpose of dissemination through your newspaper / magazine / agency. The rating rationale may be used by you in full or in part without changing the meaning or context thereof but with due credit to CRISIL. However, CRISIL alone has the sole right of distribution of its rationales for consideration or otherwise through any media including websites, portals etc.

Crisil complexity levels are assigned to various types of financial instruments. The crisil complexity levels are available on www.crisil.com/complexity-levels.investors are advised to refer to the crisil complexity levels for instruments that they desire to invest in. Investors may also call the crisil helpline at +91 22 3342 3047 / + 91 22 3342 3064 with queries on specific instruments.


About CRISIL LIMITED
CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services. We are India's leading ratings agency. We are also the foremost provider of high-end research to the world's largest banks and leading corporations.

CRISIL PRIVACY NOTICE
CRISIL respects your privacy. We use your contact information, such as your name, address, and email id, to fulfill your request and service your account and to provide you with additional information from CRISIL and other parts of The McGraw-Hill Companies, Inc. you may find of interest.
For further information, or to let us know your preferences with respect to receiving marketing materials, please visit www.crisil.com/privacy. You can view McGraw-Hill's Customer Privacy Policy at http://www.mcgraw-hill.com/site/tools/privacy/privacy_english.
Last updated: March 31, 2011

Disclaimer: A CRISIL rating reflects CRISIL's current opinion on the likelihood of timely payment of the obligations under the rated instrument and does not constitute an audit of the rated entity by CRISIL. CRISIL ratings are based on information provided by the issuer or obtained by CRISIL from sources it considers reliable. CRISIL does not guarantee the completeness or accuracy of the information on which the rating is based. A CRISIL rating is not a recommendation to buy, sell, or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. All CRISIL ratings are under surveillance. Ratings are revised as and when circumstances so warrant. CRISIL is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of this product. CRISIL Ratings rating criteria are available without charge to the public on the CRISIL web site, www.crisil.com. For the latest rating information on any instrument of any company rated by CRISIL, please contact CRISIL RATING DESK at CRISILratingdesk@crisil.com, or at (+91 22) 3342 3000.


March 30, 2012

http://www.crisil.com