In reference to earlier intimation dated August 25, 2023 (annexed herewith) regarding the affirmation issued by India Ratings & Research (India Ratings), for Long-Term Issuer Rating of the Company as ‘IND A’ and outlook as Stable, Borosil Renewables has informed that SEBI vide its Master Circular no. SEBI/HO/DDHS/DDHSPOD2/P/CIR/2023/111, has introduced a specific ‘Issuer Ratings’ rating scale. In view of the rating scale for Issuer Rating introduced by SEBI vide aforesaid circular, India Ratings has informed that it will no longer be able to maintain the voluntary Issuer Ratings without an agreement signed specifically for assigning such Issuer Ratings. Accordingly, it has withdrawn the Long-Term Issuer Rating of ‘IND A’ assigned by it to the Company. However, all outstanding instruments ratings as disclosed in our previous intimation and reproduced below for reference, shall remain unchanged and unaffected and will not lead to any change in credit profile of the Company.
The above information is a part of company’s filings submitted to BSE.
