Chalet Hotels Limited — Capital/Financing Update 2021

Jul 1, 2021

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July 01, 2021

National Stock Exchange of India Limited BSE Limited Exchange Plaza Corporate Relationship Department Bandra Kurla Complex Phiroze Jeejeebhoy Towers, Bandra (East). Dalal Street, Fort. Mumbai 400 051. Mumbai – 400 001. Scrip Code: CHALET Scrip Code: 542399

Sub: Intimation of Revision in Credit Rating

Dear Sir / Madam,

Pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please be informed that the Company has received intimation from India Ratings & Research Private Limited, wherein the Company’s rating has been taken off ‘RWN ( Rating Watch Negative )’. The details of the same are as given below:

Credit Rating Agency	Type	Previous Rating	Current Rating	Outlook
India Ratings & Research Private Limited	Term Loans and Fund Based WorkingCapital limits	IND BBB+ / RWN	IND BBB+	Negative
	Non-Fund based Working Capital limits	IND A2+ / RWN	IND A2+	--

As per the intimation received, the resolution of RWN reflects the management’s ability to reduce overhead cost in a timely manner, as reflected in the marginal improvement in Company’s performance and successful refinancing of debt. The Negative Outlook reflects occupancies not reaching to normal levels amid concerns on further lockdowns due to the extended impact of COVID-19 pandemic.

You are requested to take the same on record.

Thanking You

Yours sincerely, For Chalet Hotels Limited Digitally signed by CHRISTABELLE BAPTISTA CHRISTABELLE DN: c=IN, o=Personal, 2.5.4.20=af045dbb382af52a89365d24fbc5f856ffa9d651ac10ebcfcf d473f3a25542cb, postalCode=400064, st=MAHARASHTRA, serialNumber=878dc518f343317eb76d77b1bdd8e37894de02759d de01140ebbf9a3532471bb, cn=CHRISTABELLE BAPTISTA BAPTISTA Date: 2021.07.01 23:28:50 +05'30'

Christabelle Baptista Company Secretary & Compliance Officer

Chalet Hotels Limited (Formerly Chalet Hotels Pvt. Ltd.) Regd. Off. : Raheja Tower, Plot No.C-30, Block ‘G’, Next to Bank of Baroda, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051. Phone : +91-22-2656 4000 Fax : +91-22-2656 5451 Website : www.chalethotels.com CIN : L55101MH1986PLC038538