Eveready Industr - Announcement under Regulation 30 (LODR)-Credit Rating
10/06/2019 19:47
We wish to inform you that India Ratings and Research has downgraded the Company's Long term Credit Rating to 'IND BBB' from 'IND A+' and maintained it on Rating watch Negative.
The Instrument-wise revised ratings are as follows:-

Term Loan : IND BBB/RWN
Fund Based Limits : Long term rating - IND BBB/RWN & Short term rating - IND A2/RWN
Non Fund Based Limits : Long term rating - IND BBB/RWN & Short term rating - IND A2/RWN
Commercial Paper : IND A2/RWN
The reasons for the said downgraded credit ratings as provided, are increased leverage and weakened liquidity.

This is for your information and record.