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| Exchange Received Time 07/07/2017 19:02:34 Exchange Disseminated Time 07/07/2017 19:02:38 Time Taken 00:00:04 | In compliance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, we wish to inform you that CARE Ratings Limited ('CARE') and ICRA Limited (ICRA) have informed the following revision in credit ratings for bank facilities of Adlabs Entertainment Limited (the 'Company'):
Type of Credit Rating Existing Revised
Long term bank facilities CARE BBB- CARE D
Long term bank facilities ICRA BB+ ICRA D
The respective reports from credit rating agencies covering rationale for revision in credit ratings are enclosed. The revised ratings are factoring some delays in interest servicing on the said facilities. The Company had cured the said delays and is working on various revenue growth as well as debt reduction measures. As per norms of rating agencies, the ratings can get revised upon minimum 90 days of cure period.
This is for your information and records.
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