IFCI Ltd. — Capital/Financing Update 2021

Aug 17, 2021

(4114 titqAt 41'arrffiTO No. IFCl/CS/2021- 42Z1 August 17, 2021

BSE Limited

Department of Corporate Services Phiroze JeeJeebhoy Tower Dalai Street, Fort Mumbai — 400001

CODE: 500106

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
1.	Long Term Bank Facilities	CARE BB Outlook: Negative	Downgraded from CARE BBB Outlook: Negative
2.	Instruments Term Long — 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.

3111 VW At 311 a unwiera:

41Trajth 7f. i4oft - 110 019 IFCI Tower, 61 Nehru Place, New Delhi - 110 019 -213llt crit, 61 •)vt-I +91-11-4173 2000, 4179 2800 Phone: +91-4173 2000, 4179 2800 I5014: -1-91-11-2623 0201, 2648 8471 Fax: +91-11-2623 0201, 2648 8471 www.lfclltd.com Website: www.ifciltd.com 4131*79% L74899DL1993G01053677 CIN: L74899DL1993G01053677

IFCI Limited

Regd. Office:

(9R7 twit -TT 3Will) 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