Ref: MUM/20-21/3303Rating Agreement • February 26th, 2021
Contract Type FiledFebruary 26th, 2021Please refer to the Rating Agreement dated June 19, 2019 executed between ICRA Limited (“ICRA”) and your company, whereby, ICRA is required to review its ratings, on an annual basis, or as and when the circumstances so warrant. Based on a review of the latest developments, the Rating Committee of ICRA, after due consideration has retained the medium-term rating at [ICRA]MB+ (pronounced ICRA M B plus) (“Rating”). The outlook on the medium-term rating has been revised to Positive from Stable.