Crisil rating for Bharat Gears down
Crisil has downgraded the rating assigned to the Rs 6.5-crore non-convertible debenture issue of Bharat Gears Ltd from `A' to `BBB'. The revision is on account of the increase in the financial risk profile characterised by likely gearing and low interest cover.

Crisil gives top rating for Bajaj Auto FD
Crisil has reaffirmed the `FAAA' rating for the fixed deposit programme of Bajaj Auto Ltd. The rating factors the company's strong financial position and stable cash flows resulting in a favourable liquidity position.

Cummins CP gets top Crisil rating
Crisil has reaffirmed the rating assigned to the fixed deposits and Rs 15 crore CP programme of Cummins India Ltd as ``FAAA' and `P1+'. The rating reflects its strong market position, comfortable financial position, high degree of financial flexibility and strong support from its parent company.

Goetze FD bags FA+ Crisil rating
Crisil has reaffirmed `FA+' rating for the fixed deposit programme of Goetze India Ltd and has assigned `P1' rating for the commercial paper issue of Rs 40 crore. The rating factors in the uncertainty relating to returns from large investments in group companies, high level of employee costs and its absence from the steel rings market.

Icra downgrades Unichem FD rating
ICRA has withdrawn the `MA+' rating assigned to the fixed deposit programme of Unichem Laboratories Ltd following the company's request to withdraw the rating. However, ICRA's outlook on the company continues to be stable and the company enjoys and A1+ rating from ICRA for its Rs 5 crore commercial paper programme.