Intimation of Credit Rating

Sharika Enterprises has received credit ratings from Infomerics Valuation and Rating Limited for its bank facilities. The long-term bank facilities have been assigned a rating of IVR BB with a Stable outlook, while short-term facilities received IVR A4. Proposed long-term and short-term facilities have been similarly rated at IVR BB/Stable and IVR A4 respectively. The BB rating falls in the speculative grade category, indicating moderate to high credit risk. The Stable outlook suggests Infomerics does not expect any near-term change in the company's credit profile.