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Rane Engine Valve Ltd.

BSE: 532988 Sector: Auto
NSE: RANEENGINE ISIN Code: INE222J01013
BSE 00:00 | 24 Apr 2020 Rane Engine Valve Ltd
NSE 05:30 | 01 Jan 1970 Rane Engine Valve Ltd

Announcement under Regulation 30 (LODR)-Credit Rating

April 15, 2020, 6:51 pm | Source: BSE

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 Companys debt instruments/ total Bank Loan facilities of Rs. 200 crores CRISIL Limited has:

a. downgraded - Long-Term Rating to CRlSlL BBB from CRISIL BBB+ with outlook revised to Negative from Stable
b. downgraded - Short-Term Rating to CRlSlL A3+ from CRISIL A2

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.