Excel Industries Ltd: Credit Rating

Excel Industries Ltd has informed BSE that CRISIL vide its letter dated March 24, 2011, have informed the Company that the existing credit facilities enjoyed by the Company from Banks have been upgraded by them. the details of which are as under:

1. Facility: Cash Credit*
- Rated Amount (Rs. Million): 450.00
- Prior Rating: BBB+/Negative
- Revised Rating: BBB+/Stable
- Rating Action: Rating reaffirmed, Outlook revised

2. Facility: Working Capital Demand Loan
- Rated Amount (Rs. Million): 100.00
- Prior Rating: BBB+/Negative
- Revised Rating: BBB+/Stable
- Rating Action: Rating reaffirmed, Outlook revised

3. Facility: Proposed Long-Term Bank Facilities
- Rated Amount (Rs. Million): 150.00
- Prior Rating: BBB+/Negative
- Revised Rating: BBB+/Stable
- Rating Action: Rating reaffirmed, Outlook revised

4. Facility: Bank Guarantees
- Rated Amount (Rs. Million): 40.00
- Prior Rating: P2
- Revised Rating: P2
- Rating Action: Reaffirmed

5. Facility: Letter of Credit
- Rated Amount (Rs. Million): 350.00
- Prior Rating: P2
- Revised Rating: P2
- Rating Action: Reaffirmed