September 11, 2012

Mumbai

Diamond Power Infrastructure Limited

Ratings Suspended

Total Bank Loan Facilities Rated	Rs. 6210 Million
Long-Term Rating	Suspended
Short-Term Rating	Suspended

(Refer to Annexure 1 for details on facilities)

Rs. 2 Billion Non Convertible Debentures

CRISIL A-/Stable (Withdrawal)

CRISIL has withdrawn its ratings on the Non-Convertible Debentures (NCDs) of Diamond Power Infrastructure Ltd (Diamond Power) and has suspended its ratings on the bank facilities of the company. The company has not used CRISIL’s rating for placing the NCDs. CRISIL has suspended its ratings on the company’s bank facilities because the company has not co-operated with CRISIL’s efforts to review the ratings outstanding. Despite repeated requests by CRISIL, Diamond Power has not provided adequate information to enable assessment of Diamond Power’s ability to service its debt. The suspension reflects CRISIL's inability to maintain a valid rating in the absence of adequate information. CRISIL considers information availability risk as a key credit factor in its rating process and non-sharing of information as a first signal of possible credit distress, as outlined in CRISIL’s criteria ‘Information Availability Risk in Credit Ratings’.

About the company

Diamond Power, formerly Diamond Cables Ltd, manufactures aluminium alloy and aluminium-conductor-steel reinforced transmission conductors, low-tension and high-tension power cables, and distribution transformers.

Annexure 1 - Details of various bank facilities

Current facilities			Previous facilities
Facility	Amount (Rs. Million)	Rating	Facility	Amount (Rs. Million)	Rating
Bank Guarantee	912	Suspended	Bank Guarantee	912	CRISIL A2+
Cash Credit	2591.8	Suspended	Cash Credit	2591.8	CRISIL A-/Stable
Letter of Credit	2706.2	Suspended	Letter of Credit	2706.2	CRISIL A2+
Total	6210	--	Total	6210	--

Media Contacts	Analytical Contacts	CRISIL Rating Desk
Shweta Ramchandani Communications and Brand Management CRISIL Limited Tel: +91-22- 3342 1886 E-mail: shweta.ramchandani@crisil.com Tanuja Abhinandan Communications and Brand Management CRISIL Limited Tel: +91-22- 3342 1818 Email: tanuja.abhinandan@crisil.com	Pawan Agrawal Senior Director - CRISIL Rating Tel: +91-22-3342 3301 Email:pawan.agrawal@crisil.com Manoj Damle Director - CRISIL Ratings Tel: +91-22-3342 3342 Email:manoj.damle@crisil.com	Tel: +91-22-3342 3047/3342 3064 Email:CRISILratingdesk@crisil.com

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Last updated: April 30, 2012

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September 11, 2012	http://www.crisil.com