JK Paper Limited - Credit Rating

24 Jun 2022 , 12:00 AM

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to intimate you that CRISIL, vide its letter dt. 23rd June 2022, has informed the Company that in compliance of SEBI circular dt. 16th July, 2021 and 1st April, 2022, for standardizing the rating scales used by the Credit Rating Agencies, CRISIL Ratings has migrated the rating for Fixed Deposits (FD) Programme of JK Paper Limited of Rs. 100 crore to ???CRISIL AA-/Stable??? from ???FAA/Stable???.As per abovementioned letter of CRISIL, ???this migration represents only a recalibration of the rating from one scale to another and does not reflect any change in the credit risk profile of the fixed deposit programme. It is also neither an upgrade nor a downgrade of the rating of the FD programme???.