Kodak India debt rating reaffirmed: Crisil has reaffirmed the P1+ rating assigned to the commercial paper programme of Kodak India Ltd, which has been enhanced from Rs 20 crore to Rs 50 crore. It has also reaffirmed the AA- rating assigned to the company's Rs 10-crore non-convertible debenture issue. The rating reflects the company's strong market position in the domestic imaging industry emanating from a strong brandname and franchise resulting in favourable volumegrowth.

Crisil assigns P1 rating to Citicorp Finance debt plan: Crisil has assigned a P1 rating to the Rs 160-crore short-term debt programme of Citicorp Finance India Ltd. According to a Crisil release, the company's rating factors its strengths in terms of parentage, management and information systems, asset-liability management practices and the benefits of the long track record of Citibank's corporate and retail business operations in India.

Salem Rajaram registration plea rejected: The Reserve Bank has rejected the application for certicate of registration submitted by Salem Rajaram Leasing. "The company will not be able to transact the business of a non-banking financial institution as defined in Clause (A) of Section 45I of the RBI Act 1934," an RBI release issued on Saturday stated.

Alsa Global registration plea rejected: The RBI rejected on December 22, 1998, the application for certificate of registration submitted by Chennai-based Alsa Global Finance and Securities. Thecompany will not be able to transact the business of a non-banking financial institution.

Crisil downgrades Madhumilan debt plan: Crisil has downgraded the fixed deposit programme of Madhumilan Fincorp Ltd to the default category from FB.

Crisil downgrades Orient Paper bond plan: Crisil has downgraded the Rs 50-crore bond programme of Orient Paper & Industries Ltd to B from BB+. The company's Rs 25-crore non-convertible debenture programme has also been downgraded to B from BB+. The revision in ratings factor the sustained pressure on the company's liquidity position owing to the continued downturn in the paper and cement industry and its large financial commitments.

Okara firms' registration pleas rejected: The RBI has rejected the applications for grant of certificates of registration submitted by Okara Mutual Benefit Ltd, Okara Securities Ltd and Okara Leasing & Investment Ltd. These companies cannot transact the business of a non-banking financial institution.

Icradowngrades DCL Finance debt rating: Icra has downgraded the rating assigned to the fixed deposit programme of DCL Finance Ltd from MA+ to MA-. The company has reported a loss in 1997-98 owing to increased provisions for non-performing assets, non-recognition of income on NPAs and lower lending rates.