IFCI Ltd. — Capital/Financing Update 2021

Aug 17, 2021

No. IFCI/CS/2021-422

August 17, 2021

National Stock Exchange of India Limited

Exchange Plaza Plot No. C/1, G Block, Bandra Kurla Complex Bandra (East) Mumbai - 400 051

CODE: IFCI

Dear Sir / Madam,

Re: Revision in Credit Rating

This is to inform that CARE Ratings Limited (CARE) has informed about the Credit Ratings for the facilities and the revised ratings stand as under:

S.No.	Nature of Facility	Ratings	Rating Action
1.	Long Term Bank Facilities	CARE BB Outlook: Negative	Downgraded from CARE BBB- Outlook: Negative
2.	Term Instruments Long $\overline{ }$ NCD	CARE BB+ Outlook: Negative	Downgraded from CARE BBB+ Outlook: Negative
3.	Long Term Instruments	CARE BB Outlook: Negative	Downgraded from CARE BBB- Outlook: Negative
4.	Subordinate Bonds	CARE BB Outlook: Negative	Downgraded from CARE BBB- Outlook: Negative

Rationale for Rating Downgrade

The revision in the ratings assigned to the long-term bank facilities and nonconvertible debentures (NCDs) of IFCI Ltd., factors in sharp deterioration in the Company's capitalization profile, worsening asset quality metrics, high borrowerwise loan book concentration and persistently weak profitability metrics and IFCI's stretched liquidity position having negative cumulative mismatches.

आई एफ सी आई लिमिटेड पंजीकृत कार्यालयः

आईएफसीआई टावर, 61 नेहरु प्लेस, नई दिल्ली -- 110 019 दूरभाषः +91-11-4173 2000, 4179 2800 फैक्सः +91-11-2623 0201, 2648 8471 वेबसाइटः www.ifciltd.com सीआईएनः L74899DL1993GOI053677

IFCI Limited

Regd. Office: IFCI Tower, 61 Nehru Place, New Delhi - 110 019 Phone: +91-4173 2000, 4179 2800 Fax: +91-11-2623 0201, 2648 8471 Website: www.ifciltd.com CIN: L74899DL1993GOI053677

The complete Credit Rating Report by CARE may also be referred from their website.

This is for your information and record.

Yours faithfully For IFCI Limited

(Rupa Deb) Company Secretary