PIONEER EMBROIDERIES LTD. - Announcement under Regulation 30 (LODR)-Credit Rating

Dear Sir/Madam,<BR> <BR> In terms of Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the Company is pleased to inform that there has been upgrade in Company's credit rating to 'CARE BB; Stable' from 'CARE B- Stable', on account of an improvement in the revenue and profitability margins generated by the Company along with significant debt repayment, leading to improvement in capital structure and debt coverage metrics. <BR> <BR> Enclosing herewith CARE letter bearing no. CARE/HO/RL/2020-21/4423 dated 03-03-2021 received by the Company on 10-03-2021. <BR> <BR> This is for your information and records.<BR>