Elecon Engineering Company Limited - Credit Rating

2 Nov 2022 , 12:00 AM

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that at our request and on submission of ???No Objection Certificate (NOC)??? from all the banks of the Company, the Credit Rating Agency viz. Brickwork Ratings India Private Limited vide its Letter Ref. No. BWR/BLR/MUM/CRC/CD/5113/2022-23 dated 27th October, 2022 received by the Company on 1st November, 2022 has reaffirmed the rating and simultaneously withdrawn the rating of BWR A /Stable / BWR assigned to the Bank Loan Facilities aggregating to Rs. 706.50 Crores with immediate effect. The reaffirmation and withdrawal letter issued by Brickwork Ratings India Private Limited is enclosed herewith. Further, please note that the Company has already updated vide its letter dated 21st June, 2022 about the Credit Rating for Bank Facilities of Rs. 500.00 Crores of the Company from the Credit Rating Agency viz., ICRA Limited (ICRA).