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Blue Star: Announcement under Regulation 30 (LODR)-Credit Rating


Pursuant to Regulation 30 of the Listing Regulations we wish to inform you that CARE Ratings Limited have reviewed the credit ratings assigned to the Companys long term and short term credit facilities. Kindly note that while the credit rating has been reaffirmed at AA+ the rating outlook has been revised from Stable to Negative due to temporary shutdown of manufacturing facilities and expected lower demand of consumer durables in the near to medium term as a consequence of the lockdown imposed due to COVID-19 pandemic. The outlook may be revised to Stable in case of faster than anticipated recovery in demand resulting in sustained improvement in the Companys business and financial risk profile.

A copy of the Press Release issued by CARE Ratings Limited in this regard is available on their website at the given below link:
http://www.careratings.com/upload/CompanyFiles/PR/Blue%20Star%20Limited-05-18-2020.pdf

This is for your information and records.

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