Pursuant to Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, this is to inform you that the rating agency Infomerics Valuation and Rating Pvt. Ltd ('Infomerics') has revised the long-term rating of Indiabulls Real Estate Limited from 'IVR A+' to 'IVR A'.
The company is in a stable position to service its debt needs and the management is committed towards prepayment of its outstanding NCDs in an accelerated manner, if needed.
In line with the above, the management has asked the Infomerics to review their abovementioned rating revision and the company will further update the stakeholders on the
rating, if revised again.