Forbes & Company receives revision in credit ratings

From CARE

Forbes & Company has received revision in credit ratings from CARE Ratings as follows -

Long term bank facilities - CARE BB+; Negative (Revised from CARE A-; and removed from credit watch with negative implications)

Short term non fund based facilities - CARE A4+ (Revised from CARE A2+ and removed from credit watch with negative implications)

Proposed NCDs - CARE BB+; Negative (Revised from CARE A- and removed from credit watch with negative implications)

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