RANE (MADRAS) LTD. - 532661 - Announcement under Regulation 30 (LODR)-Credit Rating
As per the provisions of regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR) this is to inform that, with regard to the Company''s debt instruments/ total Bank Loan facilities of Rs. 498 crores, CRISIL Limited has: a. downgraded - Long-Term Rating to ''CRlSlL A-'' from 'CRISIL A' with outlook revised to ''Negative'' from ''Stable'', b. downgraded - Short-Term Rating to ''CRlSlL A2+'' from 'CRISIL A1' We enclose herewith the relevant credit rating letter(s) dated April 15, 2020 received by the Company earlier today along with the rating rationale. The reasons for downgrade in ratings by CRISIL are provided in their rating rationale. The aforementioned letters are also available on their website. We request you to treat this intimation as compliance with the disclosure requirements under the relevant provisions of SEBI LODR.15-04-2020