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Finolex Cables Ltd. Capital/Financing Update 2019
60747_rns_2019-07-27_ea40c4ca-d6b1-4d95-807f-b53258f96dcb.PDF
Capital/Financing Update
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FCL: SEC: SE: 2019:166 27th July 2019
The Manager Listing Department National Stock Exchange of India Ltd 'Exchange Plaza', C-1, Block G, Bandra - Kurla Complex, Bandra (E), Mumbai - 400 051
Dear Sirs,
Ref: Regulation 3o and other applicable provisions of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015
Sub: Intimation of re-affirmation of rating by CRISIL
With reference to the above and pursuant to regulation 3o and all other applicable regulations, if any, of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we would like to inform that the Company has received the re-affirmation of rating from CRISIL Ratings, the details of which are as below:
| Total Bank Loan Facilities Rated | Rs.45o Crores |
|---|---|
| (Working Capital) | |
| Long-Term Rating | CRISIL AA+/Stable (Reaffirmed) |
| Short-Term Rating | CRISIL Ai+ (Reaffirmed) |
| Rs.i50 Crore Non-ConvertibleDebentures | CRISIL AA+/Stable (Assigned) |
|---|---|
| Rs.50 Crore Short Term Debt | CRISIL Ai+ (Reaffirmed) |
We would request you to kindly arrange to take the same on record and to have the same updated on the Website of the Exchange at the earliest.
Please acknowledge receipt and oblige.
Thanking you, Yours faithfully For FINOLEX CABLES LIMITED
ri Kulkarni Co pliance officer CONFIDENTIAL
.stings CRIS
FINCABL/227057/NCD/071956953 July 22, 2019
Mr. Mahesh Viswanathan Deputy Managing Director Finolex Cables Limited 26/27, Mumbai-Pune Road Pimpri PUNE - 411018 Tel: 2027475963
2 6 jui 1019 A4OLEX CABLE LTD.
An S&P Global Cor
Dear Mr. Mahesh Viswanathan,
Re: CRISIL Rating on the Rs. 150 Crore Non Convertible Debentures of Finolex Cables Limited
We refer to your request for a rating for the captioned Non Convertible Debentures.
CRISIL has, after due consideration, assigned its "CRISIL AA+/Stable" (pronounced as CRISIL double A Plus rating with Stable outlook) rating to the captioned debt instrument. Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.
For the purpose of issuance of the captioned debt instrument, this letter is valid for 180 calendar days from the date of the letter. In the event of your company not placing the above instrument within this period, or in the event of any change in the size/structure of your proposed issue, the rating shall have to be reviewed and a letter of revalidation shall have to be issued to you. Once the instrument is issued, the above rating is valid throughout the life of the captioned debt instrument.
As per our Rating Agreement, CRISIL would disseminate the rating along with outlook through its publications and other media, and keep the rating along with outlook under surveillance for the life of the instrument. CRISIL reserves the right to withdraw or revise the ratings assigned to the captioned instrument at any time, on the basis of new information, or unavailability of information or other circumstances, which CRISIL believes, may have an impact on the rating.
As per the latest SEBI circular (reference number: CIR/IMD/DF/17/2013; dated October 22, 2013) on centralized database for corporate bonds/debentures, you are required to provide international securities identification number (ISIN; along with the reference number and the date of the rating letter) of all bond/debenture issuances made against this rating letter to us. The circular also requires you to share this information with us within 2 days after the allotment of the ISIN. We request you to mail us all the necessary and relevant information at [email protected]. This will enable CRISIL to verify and confirm to the depositories, including NSDL and CDSL, the ISIN details of debt rated by us, as required by SEBI. Feel free to contact us for any clarifications you may have at [email protected]
Should you require any clarifications, please feel free to get in touch with us.
With warm regards,
Yours sincerely,
Gautam Shahi Director - CRISIL Ratings
Nivedita Shibu Associate Director - CRISIL Ratings
A CRISIL rating reflects CRISIL's current opinion on the likelihood of timely paym6,1t of the obligations under the rated instrument and does not constitute an audit of the rated entity by CRISIL. CRISIL ratings are based on information provided by the issuer or obtained by CRISIL from sources it considers reliable. CRISIL does not guarantee the completeness or accuracy of the information on which the rating is based. A CRISIL rating is not a recommendation to buy, sell, or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. All CRISIL ratings are under surveillance. CRISIL or its associates may have other commercial transactions with the company/entity. Ratings are revised as and when circumstances so warrant. CRISIL is not responsible for any errors and especially states that it has no financial iivpi trianlyer to the subscribers / users / transmitters / distributors of this product. CRISIL Ratings rating criteria are available. wliWurehrdgIrthepublic on the CRISIL web site, www.crisil.com. For the latest rating information on any instrumtiftrEP*341~§1gilly [(RIM, ME13Plif2lfaltomer Service Helpdesk at 1800-267- 301.
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