Balrampur Chini Mills : Credit Rating

98a68ab1-5ba0-4ab1-b1fa-a4c2f2623fb4.pdf BALRAMPUR CHINI MILLS LIMITED

REGD. OFF. :"FMC FORTUNA" 2ND FLOOR, 23413A, A. J. C. BOSE ROAD, KOLKATA - 700 020 PHONE : 2287-4749 FAX :(033) 22873083 122808874 GRAM : BALSUCO, CALCUTTA

Email : bcml@bcml.in • Internet Website http :I I www.chini.com • CIN - L15421WB1975PLC030118

21st June, 2016

National Stock Exchange of India Limited Listing Deptt., Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (E) Mumbai- 400051	BSE Limited The Corporate Relationship Department !st Floor, New Trading Wing, Rotunda Building, Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai- 40000 I	The Calcntta Stock Exchange Limited 7, Lyons Range, Kolkata -700 00 I
Scrip Code: BALRAMCHIN	Scrin Code: 500038	Serio Code: 12012

Dear Sir/ Madam,

Ref : Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Sub: Update on Credit Rating

Further to our letter dated !st April, 2016 on the captioned subject, we would like to inform you that ICRA Limited -the Credit Rating Agency has vide its letter dated 20th June, 2016 (copy enclosed) has further revised the outlook on the Long Term Rating from 'Stable' to 'Positive'.

This is for your information and records please. Thanking you,

Yours faithfully,

For Balrampur Chini Mills Limited

°'-

Nitin Bagaria (Company Secary)

Encl: as above

FACTORIES : BALRAMPUR • BABHNAN • TULSIPUR • HAIDERGARH •AKBARPUR • MANKAPUR • RAUZAGAON • KUMBHI • GULARIA• MAIZAPUR • KHALILABAD

e!CRA

Ref: ICRA/KOURA/2016-171240

ICRA Limited

June 20, 2016

Mr. Pramod Patwari Chief Financial Officer

Balrampur Chini Mills Limited FMC Fortuna, 2nd Floor 234/3A, A J C Bose Road Kolkata 700020

Dear Sir,

Re: ICRA-assigned Credit Rating for Rs. 2028.621 crore Line of Credit of Balrampur Chini Mills Limited (instrument details in Annexure)

Please refer to our letter dated April 1, 2016 and your subsequent email dated June 15, 2016.

Please note that the Rating Committee of ICRA, after due consideration, has reaffirmed the long-term rating for the captioned Line of Credit (LOC) at [ICRA]A+ (pronounced ICRA A plus).t The Rating Committee of ICRA has also reaffirmed the short-term rating for the captioned LOG at [ICRA]A1+ (pronounced ICRA A one plus). The outlook on the long term rating has been revised to Positive.

The aforesaid ratings are valid till March 31, 2017.

The ratings as stated above are specific to the terms and conditions of the LOC as indicated to us by you. In case there is any change in the terms and conditions, or the size of the rated LOG, the same must be brought to our notice immediately. Any such change would warrant a rating review, following which there could be a change in the ratings assigned.

ICRA reserves the right to suspend, withdraw or revise the above rating at any time on the basis of new information or unavailability of information or such other circumstances, which ICRA believes, may have an impact on the rating assigned to you.

You are required to furnish a periodic statement (in the format enclosed) confirming the timeliness of payment of all obligations against the rated debt programme [interest and principal obligations for fund based as well as obligations under LOC/BG for non-fund based facility].

You are also required to inform us forthwith of any default or delay in the payment of interest and/or principal against the rated debt programme, or any other debt instruments and/or borrowings of your company. Further, you are requested to keep us informed of any other developments that could have a direct or indirect impact on the debt servicing capability of your company, with such developments including, but not limited to, any proposal for re-schedulement or postponement of repayment against any dues and/or debts of your company with any lender(s) and/or investor(s).

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orrOvings n r cash credit and CP/STD to be limited to sanctioned cash credit lin1its or draving pov,·er. vhichever

7 For complete rating definition please refer to ICRA Website V.f.V.icra.in or any of the ICRA Rating Publications

FMC FORTUNA, A-10 & A-11

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Tel. : +91 . 33 . 71501100

Fax : +91 . 33 . 71501150

GIN : L74999DL1991PLC042749

website : www.icra.in

email : info@icraindia.com

Registered Office : 1105, Kailash Building, 1111> Roar, 26 Kasturba Gandhi Marg, New Delhi - 110001 , Tel.: +91.11. 23357940-50 Fax :+91.11. 23357014 Corporate Office :Building No. 8, Tower-A, 2"" Floor, DLF Cyber City, Phase II, Gurgaon - 122002, Tel.: +91.124.4545300 Fax : +91.124.4050424

R A T I N G • R E S E A R C H • I N F O R M A T I O N

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• With regards,

Yours sincerely, for ICRA Limited

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Ekta Banka · Senior Analyst

'91cRA

Format for periodic undertaking

[To be sent periodically to ICRA Limited by email and fax]

The company has been regular in servicing all its principal and interest obligations in a timely manner and there has not been any delay or default (a missed or delayed payment in breach of the agreed terms of the issue) during the specified period. We also confirm that there has been no re-schedulement in regard to any of company's debt obligations. We also confirm that there has been no overdniwal of the drawing power sanctioned by the bank for a period of more than 30 consecutive days in case of bank facilities which do not have scheduled maturffylrepayment dates.