We are pleased to inform you that due to significant improvements in the key rating drivers of the Company, CARE Ratings Limited (formerly known as Credit Analysis & Research Limited) (CARE) on its review has upgraded the Credit Ratings of the Company to A- Stable (Single A Minus Outlook: Stable).
This Rating Upgrade is a significant milestone and recognition of our efforts to make Companys balance sheet become more robust, with strong operating parameters, over the past several years.
A copy of letter dated June 20, 2018 issued by the CARE assigning the credit ratings to various credit facilities availed by the Company is enclosed herewith.
This is for your information and records.
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