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REVISION IN CREDIT RATING

The Rating Committee of ICRA has reaffirmed  the long-term rating of  the Company at [ICRA]BB-(pronounced ICRA double B minus) (“Rating’). The outlook on the long-term rating is Stable . The short-term  outstanding rating [ICRA]A4  (pronounced  ICRA A four)  stands  withdrawn  as  the  short-term non-fund based facilities have been closed by the banks and there is no amount outstanding against the earlier rated instruments.