AFT Industries, the flagship of the Apeejay Surrendra group, issued a commercial paper worth Rs 8 crore. Gramophone Company, a member of the RPG group, is a leading player in the domestic music industry with a 16 per cent market share in the music cassettes sector. It issued commercial papers worth Rs 3 crore.

For both these papers, Duff & Phelps has reaffirmed the Ind D1+ rating. The press release states that the rating indicates a very high certainty of timely payment.

"Liquidity factors, including internal operating factor and/or access to alternative sources of funds, are excellent and supported by good fundamental protection factors. Risk factors are minor," it states.