Parsvnath Developers announces reaffirmation in Credit Ratings of subsidiary Parsvnath Rail Land Projects Pvt Ltd

NEW DELHI: Parsvnath Developers announced that Brickwork Ratings India (Brickwork) has re-affirmed the rating ‘BWR B’ with change in outlook to ‘Credit Watch with Developing Implications’, assigned to Rs.360 crore Secured Non-Convertible Debentures (Series A) and Rs.244.39 crore Secured Non-Convertible Debentures (Series B) of Parsvnath Rail Land Project, a subsidiary company of the Company.

Pursuant to Regulation 55 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), it is hereby informed that Brickwork Ratings India Pvt. Ltd. (Brickwork) has re-affirmed the rating ‘BWR B’ with change in outlook from Credit Watch with Positive Implication to Credit Watch with Developing Implications (Reaffirmation), assigned to Rs.360 Crores Secured Non-Convertible Debentures (Series A) and Rs.244.39 Crores Secured Non-Convertible Debentures (Series B) of the Company.

A copy of Rating Rationale issued by Brickwork is attached herewith, for your information and records.

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