Phoenix International Ltd

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 we wish to inform that Infomerics Ratings has revised its outlook on the long term bank facilities of Phoenix International Limited (Company) to Stable from Neagtive while reaffirming the rating at IVR BBB-/ Stable.A copy of the Rating Rationale issued by Infomerics Ratings covering inter alia Press Release for Reaffirmation of Credit Rating is enclosed. We request you to take the above information on record.