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| Exchange Received Time 12/08/2017 17:20:43 Exchange Disseminated Time 12/08/2017 17:20:46 Time Taken 00:00:03 | Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that ICRA Ratings subsequent to its annual surveillance review of Credit Rating for Rs 6015 Crore Line of Credit of Reliance Power Limited has revised the long-term rating of the Company to [ICRA]BBB (pronounced ICRA triple B) and the short-term rating to [ICRA]A2 (pronounced ICRA A two) with 'Stable' outlook and Rs 1000 Cr of commercial paper programme /short-term debt programme / Non-convertible debentures (with maturity of less than one year) to [ICRA]A2, attributing to increasing leverage level and refinancing risks.
The Company respectfully disagrees with views of ICRA as detailed in the attached file.
The Company believes that ICRA has not appropriately factored in the above measures taken by the Company while assigning the rating.
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