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| Exchange Received Time 14/11/2018 19:11:10 Exchange Disseminated Time 14/11/2018 19:11:16 Time Taken 00:00:06 | Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that considering H1-FY19 financial results of the Company, CARE has reviewed the rating of bank facilities of the Company as under:
a)Reaffirmed rating for the short term bank facilities as A1+ (A one plus). The aforesaid credit rating signifies very strong degree of safety regarding timely payment of financial obligations. Such facilities carry lowest credit risk.
b)Revised rating for long term bank facilities from 'AA' (Double A) (outlook: Negative) to 'AA-'(Double A minus) (outlook: Negative). Since the outstanding of long term facilities is lower at Rs 81 crores as against the rated amount of Rs 311.43 crores, the impact of said revision of rating will be insignificant.
Kindly take the above information on record.
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