EASUNREYRL

Easun Reyrolle Limited has informed the Exchange that ICRA (Credit Rating Agency) has revised the ratings for debts raised by us through banks.

Easun Reyrolle Limited has informed the Exchange that recently ICRA (Credit Rating Agency) assigned the rating for debt being raised by the Company through banks.

Easun Reyrolle Limited has informed the Exchange that recently ICRA (Credit Rating Agency) assigned the following ratings for debt being raised by the Company through banks : (1) Rs.314.5 crores debt - long term rating at LBBB+ with a stable outlook; (2) Rs.104.6 crores debt - short term rating has also been retained at A2+.

Easun Reyrolle Ltd has informed the Exchange that "ICRA has assigned an A1 rating to Rs.0.31 billion non-fund based limits and Rs.1.38 billion bank guarantee of Easun Reyrolle (ERL) indicating the highest-credit-quality in the short term. Instruments rated in this category carry the lowest credit risk in the short term. ICRA has also assigned an LA-rating to Rs.0.5 billion cash credit facilities and Rs.1.38 billion Bank guarantee facilities of ERL. The rating indicates adequate-credit-quality and the rated instrument carries average credit risk. The bank guarantees are rated on both the scales

Easun Reyrolle Ltd has informed the Exchange that "recently, ICRA Limited has given "A1" (A One) Rating to our Commercial Paper/Short-term Debt programme for an amount of Rs. 150 million. This rating will be valid upto March, 2008."